If you are a seller on Amazon, you should have an Amazon Business account to avoid any complications in the payment process. As an Amazon seller, your company name will appear on the seller Dashboard, and your seller account is able to give you access to the Seller Central space. On that space you can create your items, manage your orders, submit Supplier Information, and manage your accounts.
When you are a seller on Amazon, your company name will be listed under your country, and your seller account name will be listed under the name of your company. Thus, a person who buys a Japanese book from you will get billed as “Amazon Japan“. The payment method you will accept depends on your type of account and your country of residence. However, all payments made by your customers are credited to your Amazon account.
Book Purchase Example in Japan:
This means that if a customer purchases a book from Japan on your Amazon site, Japan will receive a credit on its national credit card on the date of purchase. Amazon will collect Japan’s national credit card number for payment processing, and you will receive a receipt from Amazon. The receipt will be received by Amazon in Japan, and it will be mailed to you in your registered office. This receipt will be sent to you as soon as your order has been processed. There is an email confirmation from Amazon to confirm your order details.
Earn Income with Small Amazon Fee:
Now that you know the process, you can actually start earning income from Amazon without spending a lot of money. And Amazon will also charge you a small fee for every item that you sell on Amazon. It is a service to help people find products. Though your product information is stored in Amazon’s database, the seller account is the actual selling tool on Amazon.
And to use the tool, you need to have a business account in Amazon. Nowadays, most sellers get this business account.
If you are new to this process, you can start working with Amazon as soon as you have set up your business in the website. In short, you can start on Amazon as soon as you have started accepting credit card payments on your website. The sales tool will be in your favour from the start, as this account will allow you to accept payments from your customers on the date of purchase. All you need to do is sell your products on Amazon, and make sure your customer’s transaction details are in your database. You don’t need to worry about payment gateway providers as they will be in your favour from the start. You need to link this account with your merchant account.
Also, you will need to verify your account with Amazon, as they will check the account history before letting you sell your products. This will allow Amazon to protect themselves from fraudulent charges on your account. There is no charge for verifying your account, You will need tofill social security number, Tax number etc and billing address as Amazon requires. You will need to pay $0.99 for every order verification that you do not complete. The fees for sales and payments done after the verification is completed will be $1.99 and $2.99, so it will be wise to complete the verification every time as it saves you $1.99 per sale.
Its a Great Deal:
Amazon will now charge a dollar fee for every transaction they do on your account, which is in addition to your monthly fee. You can reduce this fee by completing your transactions within 30 days of the payment. The dollars saved by this are much higher than the dollars saved by the upfront fee, so it is a great deal.
Amzon will charge 1.9% per month for your merchant account. This will cost you $20.67 per month. It will go down by half if you do your transactions within 30 days of the payment. The dollars saved by this are much higher than the dollars saved by the upfront fee, so it is a great deal.
Sale Tax or State Tax is depend on your location:
The only drawback to the Amazon merchant account is the sales tax. Because the states where you are doing your business are different from the states where the people are located. You will need to charge sales tax for your customers in those states. Amazon will charge $0.10 per transaction for sales tax. It will be wise to complete the payment within 30 days of the payment.
After you complete all your transactions, Amazon will now have access to all the information they need to charge you the monthly fee for their account. You will need to answer a series of questions that Amazon has on their website. These questions will determine if you are a credible business and will help prevent fraud. The questions are not unfair and are important for your business to stay in business. There will be questions about your ownership structure, the nature of your credit history and even your address. Any reputable company will have these questions and even the questionable ones don’t include these questions.
Answer the query clearly :
After you answer all your questions, Amazon will now allow you to accept credit cards. If you are receiving them by mail, you can accept them at a location. For accepting credit cards, you will now need to be able to accept electronic checks. The most financial institutions do this. There are a few banks that will offer you a payment gateway that will do all this.
You can accept many types of payments online using the Amazon payment gateway. The most common is debit cards, but Amazon will also accept direct deposit and online checks. Amazon also accepts PayPal, which is a popular online payment method. You can even accept PayPal for online payments through PayPal Direct Debit.
There are a few ways to setup your account that are valid depending on your business model. If you are a reseller, it is easy with just a few clicks of a button. If you are selling something new or secondhand, it can take a bit more time to set up your account. But you can avoid a lot of the headache by using a third party merchant account to accept payments.