Session by Tosin Oke (amaNordic 2022)

A big problem Amazon sellers face is expensive bank fees. E-commerce is a global business; we all generally have to pay for services in currencies other than Swedish Krona. When this happens, the fees we pay really start to add up, and most of the time with a lack of transparency. In the worst cases we have seen Amazon sellers spend 10% of their cashflow on FX conversion fees – a sizeable amount.

Payoneer’s solution changes this, it allows you to transact in all of Amazons major marketplace currencies, pay suppliers, make payments on a Commercial Mastercard and withdraw to your bank, all in a local manner, saving you up to 75% in bank fees. In real world terms, a seller who does 100k per month on Amazon US could go from 5k in monthly costs down to 1k. The second part of my presentation will be talking about scaling your business using Payoneer’s Working capital solution – which gives you access to up to $500k to help you grow your business.