US retailer Amazon has expanded its Seller Wallet service to seven European markets, expanding the fund management feature beyond its original US launch.
The e-commerce company confirmed that the tool is now accessible in Belgium, Germany, Ireland, the Netherlands and Spain.
Through the service, merchants can store, monitor and transfer funds from European stores in Euros and from the US market directly within Merchant Central.
Seller Wallet USD is offered to international sellers operating in the US since 2022.
This enables them to keep earnings in US dollars, track balances in real time, pay suppliers and transfer money to bank accounts when they choose.
The newly launched Seller Wallet EUR offers comparable capabilities for Euro-denominated markets and includes a simple onboarding process.
Sellers using the system can set up a single transaction or schedule automatic payments on a weekly, fortnightly or monthly basis.
Funds are transferred to the seller’s bank account, with a one-time charge on international transactions.
Amazon has said that these fees are decreasing as the merchant’s business expands on the platform.
Exchange rates are displayed before the transaction is completed, and the total cost is displayed before the seller confirms it.
The service also enables merchants to pay their balances to suppliers in euros and meet VAT obligations in many European countries.
Dollar balances may be used to pay suppliers in the United States or Hong Kong.
The company said the expansion is designed to allow global seller partners to store, manage and transfer revenue from their Amazon stores in Seller Central on their own schedule.
It also comes with no upfront costs or minimum enrollment requirements.
Amazon added that the broader rollout supports its efforts to simplify cross-border payments and offer transparent pricing for sellers trading in different countries and currencies.
“Amazon Rolls Out Seller Wallet to Seven European Markets” was originally developed and published by Retail Insights Network, a brand owned by Global Data.
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