Amazon Announces “Sellers Wallet” as it Enters Digital Wallet Space

Amazon, (NASDAQ:AMZN) has announced a new service for its customers running storefronts on the Amazon marketplace – a Sellers Wallet; a new digital wallet that aims to “simplify the global Amazon selling experience.”

The Seller Wallet is described as one of the payment options and financing paths available on the platform. It is described as complementary to Amazon Lending, rewards on Amazon purchases with the Amazon Business Prime American Express Card, and automatic proceeds disbursements through the Amazon Currency Converter for Sellers. Amazon also connects via thousands of other third-party providers.

The Amazon Seller Wallet is said to be available to a select number of small businesses that sell on today. For a period of time, Amazon will collect feedback from sellers and refine the tool.

There’s no cost or minimum amount required to use the Seller Wallet. When sellers convert, and transfer funds, currency conversion, and international transfer fees will apply.

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