InstaPay has launched a new service designed to help Amazon sellers grow their business. The service allows sellers to receive quick and efficient payments on a daily basis.
InstaPay is a fintech platform for the ecommerce industries. With InstaPay, third-party sellers on Amazon receive payment automatically every day. The service pays sellers 50% to 80% of the net sales volume. It excludes Amazon fees, tax, and shipping. Sellers must pay a small fee of 1% to 2% per funding.
InstaPay Helps Amazon Sellers Get Paid Daily
InstaPay’s new service aims at overcoming the inefficiencies of Amazon payments. Amazon only pays third-party sellers approximately every fortnight. The ecommerce giants reserve a significant amount of sellers’ funds for possible refunds. Due to delays in payments, small businesses can be obstructed in their ability to purchase more inventory and ultimately grow.
Amazon Products in High Demand
The launch of the service comes at a time when Amazon sellers are more in-demand than ever. Where physical stores have been struggling during the pandemic and its subsequent lockdown, ecommerce sites like Amazon have been thriving.
Sam Bokher, COO of InstaPay, spoke of the surge in demand for Amazon products.
“Due to the global lockdown, people have ramped up online purchases and more companies have flocked to Amazon and other eCommerce platforms to sell online. We launched this new service to provide businesses with an opportunity to grow simultaneously with the marketplace, rather than with a two-week delay,” said Bokher.
No Delays in Payments
With the InstaPay platform, when Amazon pays a vendor, the outstanding balance gets automatically deducted. Rather than waiting for payment and being delayed in buying inventory, small businesses can invest in growth.
The InstaPay service enables Amazon sellers to capitalize on the current demand for ecommerce products. Third-party, independent sellers account for 58% of vendors on Amazon. By receiving daily payments, this large segment of sellers can invest in the stock and tools to grow their business.