Mass payments solution provider Hyperwallet is now able to receive disbursements from sales on Amazon’s new Australian marketplace.
Sellers from around the world can register with Hyperwallet to transfer customer payments into their bank account in a wide range of local currencies. Registration involves simply clicking the “Login With Amazon” button at Hyperwallet’s self-serve payment portal.
“Supporting international payments for Amazon sellers is just another way that Hyperwallet is helping improve payouts to the international freelance community,” said Hyperwallet CEO Brent Warrington. “Faster, more affordable cross-border disbursements is something we’re very passionate about, and we’re happy to offer that experience to sellers on the Amazon Marketplace.”
A Slow Start but Growth Expected
Launched earlier this month, Amazon Australia has been received with mixed feelings. Retailers throughout the country are already stressed by recent dips in sales, which are attributed in part to slow wage growth and an increase in consumer debt. Now they must contend with the threat of Amazon’s vast product catalog, competitive pricing, and speedy fulfillment processes. But some smaller retailers took an “if you can’t beat ‘em join e’m” attitude and approached Amazon early about being included in its Australia offerings.
- Read more about Amazon’s clicks and bricks Down Under.
The initial buzz from Australian customers leaned towards critical, because the variety, quality, and cost of product listings didn’t live up to all the hype. However, analysts believe that it’s too soon to pass judgment. “I’d say it’s early days — it’s Day 1,” said Jack O’Leary from retail insights firm PlanetRetail RNG. “As you see more sellers come to the marketplace, you’ll see a deeper assortment, depth, and price competition will only go up from there.” Australian consumers currently spend less on e-shopping than their counterparts in the US and Europe, but their spending is growing.”
The new arrangement with Hyperwallet should help Amazon Australia attract and retain sellers who are looking for streamlined and affordable methods for receiving payments in their preferred currency. For the past 15 years, Hyperwallet has been developing a web and mobile based platform, as well as a worldwide network of banking relationship, that aims to provide organizations with a frictionless and transparent experience when paying international contractors, suppliers, and resellers.
A Shared Vision of Streamlined Transactions
In early 2017, Hyperwallet announced the launch of their Sydney office as a base for Asia-Pacific operations. They currently provide cross-border payment services to several up-and-coming Australia-based web sites, such as Freelancer.com, Marketplacer.com, and Tripfuser. Simon Banks, Hyperwallet’s Asia Pacific Managing Director, believes joining up with Amazon makes perfect sense: “Amazon has long been recognized as a pioneer in the world of ecommerce usability. Our job is to extend that same frictionless experience to the supply side of marketplace transactions, streamlining the onboarding and disbursement process for independent sellers.”
There are a variety of cross-border payment solutions providers to help your business cut costs and increase efficiency. Use our comparison tool to find the one that will best meet your money transfer needs. And check out the best AUD to USD foreign exchange rates.
