Weekly Amazon Seller News – February 2nd, 2021

Every week, our team of experts round up the most important news for Amazon business owners. Here are all of the bite-sized news nuggets for the week of February 2nd, 2021.
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“New Payment Service Provider policy” (Source: Amazon News) 

  • Sellers that choose to use a payment service provider (PSP) to receive their Amazon store sales proceeds will be required to use a PSP that is participating in the new Payment Service Provider program. 
  • If you do not use a PSP, but instead are using a bank account directly issued to you by a bank or if you use a PSP that is already signed up to participate in the program (including LianLian Pay, Payoneer, PingPong and WorldFirst), no action is necessary. 
  • If your PSP is not yet participating and do not plan to enroll, you should switch to a participating PSP or use a bank account directly issued to you by a bank by May 31, 2021. 
  • Beginning on March 1, 2021, sellers adding a new bank account from a PSP must use a PSP that is participating in the program.
  • Sellers who continue using a bank account from a non-participating PSP after May 31, 2021 will be subject to a longer disbursement reserve period of up to 21 days after the latest estimated delivery date.
  • Beginning on July 15, 2021, Amazon will stop disbursement to sellers using non-participating PSPs altogether.
  • If you are using ACCS and are disbursing your Amazon store proceeds to a bank account directly issued to you by a bank or by a participating PSP, no action is necessary. 
  • Read the full article here

“Amazon Seller Fulfilled Prime Update Forces 6 day week from June” (Source: Tamebay) 

  • The Amazon Seller Fulfilled Prime Update, which starts June 30, 2021, will include later cut-off times and a requirement to ship on at least one day over the weekend.
  • The minimum carrier pickup time on weekdays will be 4:30 pm, which will set your order cut-off time to 4:00 pm (previously 2 pm). 
  • For merchants who currently work Monday to Friday, this will mean opening up the warehouse on either Saturday or Sunday if you want to maintain Amazon Seller Fulfilled Prime status.
  • You now have 5 months to either adjust your operations or make plans to migrate away before the Amazon Seller Fulfilled Prime Update goes into effect.
  • Take time to consider your options and decide what works best for your business.
  • You can set your weekend shipping preferences in Order Fulfilment Settings and find instructions on how to contact your SFP carrier in Seller Central.
  • Read the full article here

“Action required for radio frequency device listings on Amazon.com” (Source: Amazon News) 

  • At the end of February 2021, in order to create new listings or update existing listings of radio frequency devices, you will need to fill in the FCC Radio Frequency Emission Compliance attribute. 
  • In the attribute, you must do one of the following: Provide evidence of Federal Communications Commission (FCC) authorization – either an FCC certification number or contact information for the Responsible Party, as defined by the FCC. Or certify that the product is exempt from FCC requirements. 
  • You may not be aware that you are selling products the FCC considers radio frequency devices. The FCC broadly classifies any electronic or electrical product that is capable of emitting radio frequency energy as a radio frequency device. 
  • According to the FCC, almost all electronic or electrical products are capable of emitting radio frequency energy. 
  • Examples of products that are regulated by the FCC as radio frequency devices include, but are not limited to Wi-Fi devices, Bluetooth devices, radios, broadcast transmitters, signal boosters, and devices with cellular technology.
  •  FCC guidance on what is considered a radio frequency device can be found on the Equipment Authorization – RF Device page on the FCC website.
  • Read the full article here

“Amazon earnings preview: Q4 sales likely topped $100 billion for the first time as e-commerce boom extends” (Source: Yahoo Finance)

  • Shares of Amazon have increased 66% over the past year, and 4% since last reporting earnings results in late October.
  • Now, Amazon is expected to report another round of record-setting quarterly results after market close today.
  • Amazon likely brought in more than $100 billion in revenue for the first time in company history, which would lift full-year 2020 sales to a staggering $379 billion.
  • Amazon said its operating income in the fourth quarter would come in between $1.0 billion and $4.5 billion when factoring in costs related to COVID-19 at about $4.0 billion. 
  • Looking ahead to guidance for 2021, some strategists noted that Amazon may be hard-pressed to top its 2020 performance, as consumer spending broadens back out with pandemic-era lockdown restrictions easing up.

Read the full article here

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