Amazon is letting merchants who offer Amazon Pay on their own websites a faster way to get their funds. Amazon announced the launch of Express Payout for Amazon Pay on Tuesday.
The new functionality impacts only those sellers who use Amazon to process payments on their own sites – Amazon Pay lets shoppers use their Amazon login and the payment information when purchasing off-Amazon.
The new Express Payout for Amazon Pay helps US merchants get paid quicker. Instead of waiting three to five days for funds to transfer, businesses of all sizes can receive deposits up to $1 million at no additional cost in just 24 hours—weekends included.
Omar Soudodi, Director of Amazon Pay, said in a statement, “Express Payout for Amazon Pay helps businesses of all sizes grow. With this new feature, merchants can reap the benefits of their sales and tackle the unexpected costs of expanding their business in an ever-evolving economic climate–with payouts at the fast speed Amazon is known for.”
Amazon Pay integrated with a network of hundreds of banks and credit unions so merchants no longer have to wait for ACH transfers. More information and FAQs are available on the Express Payout for Amazon Pay landing page.
Ina Amazon isn’t really known for collectibles and the 1 offs, like vintage or used clothing. Are there any product offering restrictions and does Amazon treat the dispute process differently. On amazon.com refunds are handled pretty much more buyer centric but acting as a payment processor i would think they have to be a little different, like if the website says shows wear see pic or as is? Oh and if you are a Amazon buyer will you see your offsite orders in the same page or is it broken down into another category? This is thrilling!