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E-commerce platform Amazon has unveiled a new feature aimed at its sellers to give partner businesses more power over their funds and how they are managed.
Called Amazon Seller Wallet, the feature is designed to make it easier for sellers to track their payments and returns using the Seller Central interface. The service is free and does not require minimum funds. However, foreign transfer and currency conversion fees may apply. Future features could include third-party payments and exchange rate tools.
“This early-stage solution gives sellers an easy and seamless way to hold, view and transfer Amazon store revenue directly to their bank account on their schedule—all in Seller Central, the premier resource for small businesses selling on Amazon. ” said an Amazon blog post on Monday.
Amazon Seller Wallet will be released to more sellers in the coming months. For now, the company is collecting reviews from select users to fine-tune the settings.