Take Advantage of the New Payment Service Provider Program by Amazon

Get the Latest Amazon Content Each Week

Amazon is known for its state-of-the art technology and logistics. But one of the things the retail giant is praised for is its efforts to remain as one of the safest e-commerce companies. And their Payment Service Provider program, attests to that endeavor.

Project Zero and Amazon Brand Registry are two good examples. Both initiatives aim to fight against scams, counterfeits and identity theft on Amazon.

Now, the newest addition to Amazon’s defenses is the Payment Service Provider program. Also known as PSP, this service protects sellers’ disbursements against abuse and fraud.

Let’s take an inside look into this new Amazon feature. We’ll learn how the Payment Service Provider program works, and how it protects your revenue.

What is Amazon’s Payment Service Provider Program (PSP)?

Released in February 2021, the PSP program has two main goals:

  1. Prevent, detect, and act against potential fraud and abuse.
  2. Regulate how sellers receive disbursements from their sales.

Some sellers have their proceeds deposited into their bank accounts, but other merchants prefer to use payment service providers (PSP), such as Payoneer.

Banking entities tend to have higher regulations and controls for fraud prevention. Third-party payment services also have regulations, albeit different from a bank’s policies.

Amazon draws a contrast between banks’ and PSPs’ regulations. That’s the main reason behind the Payment Service Provider program.

The marketplace wants to ensure PSP compliance with the highest seller protection standards.

Do Sellers Need to Take Action?

Sellers that receive disbursements directly on a bank account, do not need to take any action.

The Payment Service Provider program will not affect their payments.

But what if sellers use a PSP to receive their Amazon proceeds? Then, they must do so through a PSP enrolled in the program, such as: 


Recommended for small brands and international sellers, OFX allows sellers to hold currency accounts in USD, CAD, GBP, HKD, EUR, AUD and SGD.

You can receive your money in the currencies of your selling markets. Therefore, PSP is also great to pay overseas suppliers, along with sales taxes, and bypassing conversion fees.

OFX offers 24/7 support and has more than 50 regulators around the world.


This is one of the leading payment platforms online. Also, it is one of the most affordable PSPs for sellers earning above $80,000 per month.

Payoneer users can deliver and receive Amazon payments in several currencies. Plus, their services are supported across 150 countries.

The company is a fully-licensed, regulated, and 100% compliant Money Services Business in Europe, the US, Hong Kong, Japan, Australia, and India.

Additionally, Payoneer features more ecommerce tools than other platforms. . For example, brands can access working capital products to scale up their businesses.

Besides, its users can spend their funds online, or get the Payoneer Prepaid Card to withdraw money from ATMs. 


Since its release in London, in 2004, WorldFirst already accumulated 500,000 clients globally.

Sellers can set up local currency accounts for free, in GBP, USD, EUR, CAD, JPY, AUD, SGD, NZD, HKD, and offshore RMB.

Clients may get revenue from international marketplaces. They can also deliver one-click VAT payments to France, the UK, Spain, Germany, Italy, the UAE and Saudi Arabia.

Participating PSPs

You can review all participating PSPs here. Sellers who use a participating PSP do not need to take any action.

For other cases, Amazon recommends contacting the PSP to learn if they plan to enroll on the program.

In case your PSP doesn’t plan to enroll, you can take the following actions:

  1. Switch to a bank account provided by an enrolled PSP
  2. Receive disbursements in a bank account issued by a deposit-taking bank
  3. Use Amazon Currency Converter for Sellers (ACCS) to disburse into your account. Note that the account must be issued by a bank or a participating PSP.

How to Switch PSPs

As of July 15, 2021, Amazon halts disbursements to PSPs not enrolled in the Payment Service Provider program.

If that’s your case, here’s how you can switch to an enrolled payment service provider:

  1. Go to the Marketplace Appstore and select one of the participating PSPs:

LianLian GlobalSunrate
Netease Global PayWorldFirst
OnerwayZhejiang Chouzhou Commercial Bank
  1. Visit the PSP website and apply for an account which supports Amazon store currencies. Then complete the required verification process.
  2. After the approval, access your Seller Central dashboard. Here, go to “Deposit Method” and update your bank account data.
  3. Provide any additional information required by Amazon to complete the update process.
  4. Wait for the 3-day mandatory security hold. After that, the new information should come into effect.

That’s it.

Now, you will receive your sales proceeds into your new account where the PSP of your choice will be able to manage them.

Source: Seller Central

Payments Based on Estimated Delivery Date

The Payment Service Provider program includes a reserve policy you should be aware of.

Amazon will hold your 7 days, after the latest estimated delivery date (EDD). This is a safety measure; in case a customer requests a refund. 

Let’s say you sold an item on the first of the month, but the latest EDD is the 12th day.

That means your fund will be available for transfer until the 20th of the month. Once the 7-day period passes, Amazon will transfer the funds (minus fees) on your next pay date.

How to Get Your Money Faster

Sellers can help Amazon narrow down your EDDs to receive faster payments. The only thing you have to do is to use ship tracking from an integrated shipping provider.

The order funds will remain reserved for 7 days. However, if the actual delivery date comes sooner than the EDD, then you will receive the funds sooner.

So, if you sold a product on the first day of the month, Amazon will know that the delivery day is the 6th. This way, the seller’s revenue will be released on the 14th of the month.

Final Thoughts

The Payment Service Provider Program is an essential protection for the marketplace. This feature demonstrates Amazon’s increasing concern for its sellers’ financial wellbeing.  

Amazon’s enforcement of the policy may be unwelcoming to some PSPs and third-party brands. However, the measure could prove a welcome safeguard in the long run.


Esteban is an SEO copywriter at AMZ Advisers, with several years’ experience in digital marketing and e-commerce. Esteban and the AMZ Advisers team have been able to achieve incredible growth on the Amazon platform for their clients by optimizing and managing their accounts and creating in-depth content marketing strategies.

Share the Post:

Looking To Launch, Grow Or Profit On Amazon?

Speak to a member of our team today to see how we can help you!

More posts

Learn What You Need To Become A Top 1% Seller