Sellers are in danger! Amazon requires payment platforms to provide sellers’ account information? How can the safety of funds be guaranteed?

Sellers are in danger! Amazon requires payment platforms to provide sellers’ account information? How can the safety of funds be guaranteed?

Amazon can directly obtain the seller's payment account information???


Is it no longer safe to keep your money on the payment platform?


Recently, a seller said in the big selling circle that his payment platform contacted him and asked the seller's payment account to change to an independent account. What is this operation? Why do they ask sellers to change to an independent account for payment without any reason? Is the current payment method inconvenient?


The documents sent by the payment platform can be seen as follows:


Amazon officially requires all payment service providers to provide the contact information (email and phone number) of the seller's account and the beneficiary's bank account information. If the seller fails to provide it, Amazon will restrict the seller from binding the payment account, or suspend payments to the bound account from mid-October.



Three questions:

Why does Amazon ask payment platforms to provide seller account information? Why can payment platforms provide information to Amazon? Why can seller information be disclosed at will?


This brings us to the Amazon PPSN program . I guess many sellers have never heard of the PPSN program. Simply put, it is an agreement signed between Amazon and the payment platform, requiring that if Amazon needs the seller's account information one day, the payment platform must provide it.


It is normal for Amazon to sign an agreement with the payment platform, and it is also normal for sellers to sign an agreement with the payment platform . It is abnormal for the payment platform to provide seller information!


In other words, as long as Amazon wants, the seller’s information can be leaked and the seller’s funds can be recovered?


Is the safety of sellers' funds no longer guaranteed? Are they like running naked in front of Amazon?



Some sellers also speculated that this was just a gimmick created by the payment platform to make more money and stimulate sellers to open more accounts.


If all your payments are bound to the same payment platform, it is recommended that you be more careful and at least spread out several accounts across multiple platforms and multiple stores to block control risks.


Over the past year, Amazon has repeatedly verified the account information of sellers. During the verification process, the sellers’ related information was “accidentally” provided to Amazon. Countless stores have gone bankrupt, which is enough to emphasize the need to be cautious when choosing payment and collection methods!


Finally, it is recommended that sellers do not put all their eggs in one basket. They can open multiple accounts on multiple platforms to diversify funds and hedge risks.

<<:  The US e-commerce landscape has undergone a major transformation! Will Amazon's position be in danger?

>>:  Cross-border e-commerce industry crashes! Many sellers’ funds are frozen

Recommend

Amazon Prime Day faces fierce competition, Temu becomes a strong rival on mobile

According to the latest research by data.ai, the u...

Prime Day is scheduled for July 16! Sellers: Forced to run with it

The closer Prime Day gets, the more turbulent the ...

What is Amazon Europe? Amazon Europe Store Review

Opening a store on Amazon Europe means registering...

What is ShoesBuy (shoes.com)? ShoesBuy (shoes.com) Review

ShoesBuy (renamed shoes.com) was founded in 1999. ...

The first wave of people using DeepSeek to "do cross-border" appeared

Around the Spring Festival, the "mysterious p...

What is Zalando? Zalando Review

Zalando is a large online e-commerce mall headquar...

How to expand your FB group

1. Search platform + deal + country directly, for ...

What is Premium Shipping? Premium Shipping Review

Premium Shipping is a service launched by Amazon i...

Shocked! This is how Amazon sellers spend their National Day...

Most people recently The first thing you do when y...

What is Pickup Tower? Pickup Tower Review

The Pickup Tower, a self-service kiosk launched by...