Payability and OFX have teamed up to offer a streamlined global cash flow solution and preferential rates for cross-border marketplace sellers.
A new global partnership provides online sellers with next-day payments from their U.S. marketplace sales, and big savings on currency conversion when they bring these sales proceeds back home.
On one side of the partnership is Payability’s Instant Access service. This provides next-day payments from marketplace sales, covering Amazon, Walmart, Newegg, Tophatter, Jet.com and MoreCommerce. Instead of payments taking weeks, online sellers can receive payments each day.
On the other side is OFX, with their Global Currency Account. This provides local currency accounts in U.S. dollars, British pounds, Euros, Canadian dollars, Australian dollars and Hong Kong dollars. Sellers can pay international suppliers directly from their account balance, or transfer funds home at exchange rates which offer significant cost savings.
The two services work in tandem to help sellers accelerate their cash-flow and bring more money back home. They can make more frequent stock purchases, pay suppliers more efficiently, and just grow faster overall.
Here’s everything you need to know about the new partnership between Payability and OFX.
Jacques van der Wilt takes a look at the ecommerce market in Germany, Austria and Switzerland, including the main shopping channels.
This post is by Jacques van der Wilt, the founder of global feed management and optimization companyDataFeedWatch.
Collectively known as the DACH countries, Germany, Austria, and Switzerland are closely connected both geographically and culturally, and are very successful economically.
DACH countries have a population of just under 100 million (around 80% of which live in Germany) and over 80% of consumers use the internet. The prospects for ecommerce in these three German-speaking countries starts to look pretty good.
There is also a significant year-on-year growth in dollars spent online across these countries. Germany, for example, has seen an increase in spend of just under $10 billion every year between 2015 and 2017. A similar increase is forecast for 2018, bringing the total to nearly $100 billion.
Amazon is asking sellers on its European sites for their products’ Declaration of Conformity. What is a DoC and how can sellers get one?
This post is by Ferry Vermeulen, Founder of INSTRKTIV, a company which helps businesses develop compliant product documentation and user manuals.
When selling certain products on Amazon in Europe, the platform requires you to submit a Declaration of Conformity. A Declaration of Conformity (or DoC) proves that the product complies with European product safety legislation.
Depending on the EU directives that apply to your product, there are different requirements on the content of the Declaration. Amazon is very strict and only approves products that include a compliant Declaration. They often decline products without giving a reason, so the seller has to work out what’s missing for themselves.
This article will explain what a Declaration of Conformity is, when you need one, and how you can draft and submit a compliant DoC.
From importing products to managing VAT, David Barry looks at the key issues for U.S. sellers wanting to sell on Amazon Europe.
This post is by David Barry, co-founder of AMZ Europe.
Selling on Amazon’s European marketplaces is tough for U.S. sellers. There’s VAT to deal with, different currencies, different languages and the small matter of getting your stock into Europe. But if you successfully overcome these challenges, expanding to Amazon Europe can be the best option for U.S. sellers looking to grow their business internationally.
Why? Because it is Amazon’s biggest international market. In 2016, Germany and the UK accounted for more than half of Amazon’s international sales. This could increase over the coming years, with the latest UNCTAD ecommerce index suggesting that online sales in Europe are primed for significant growth. The UK and Germany are ranked in the top ten of the index, while the U.S. was placed 26th.
The EU also offers favorable market conditions to sellers, with more potential customers and fewer sellers than the U.S. This means that businesses who sell on Amazon Europe have a great opportunity to gain a large market share.
Let’s examine the key issues for sellers who want to expand to Europe.