Amazon launches seller wallet GBP for UK merchants

Amazon has launched Amazon Seller Wallet GBP for eligible Amazon.co.uk sellers, adding a sterling wallet to its existing seller payments tools.

Available in Seller Central, the product allows sellers in the UK and overseas to hold proceeds in pounds, pay UK suppliers and transfer money to a UK bank account. Domestic GBP transfers to UK bank accounts are fast and free, according to Amazon.

For sellers outside the UK, the wallet also offers the option to keep proceeds in sterling for local payments or convert and send funds internationally in more than 20 currencies. Sellers can review exchange rates and total costs before confirming an international transfer, Amazon said.

Users can make one-off transfers or set up recurring payments to their bank accounts weekly, fortnightly or monthly. Statements and transfer history are also available in Seller Central to support cash-flow management, tax preparation and account reconciliation.

The rollout extends Amazon's Seller Wallet offering in Europe, adding the UK to a service that already covers US dollar and euro balances. The GBP, EUR and USD wallets remain separate products, although sellers operating in UK and EU stores can sign up for both sterling and euro wallets through the same process.

International transfer fees are based on seller volume and fall as a seller's business with Amazon grows, the company said. It added that the service applies no hidden markups or additional costs to those transfers.

Cross-border merchants on large online marketplaces often face delays, foreign exchange charges and fragmented reporting when moving money between countries. By placing currency management inside Seller Central, Amazon is seeking to keep more of those financial tasks within its seller system.

The approach may appeal particularly to merchants selling across several Amazon markets who want to manage balances without relying on separate payment providers. It also gives Amazon a broader role in seller operations beyond listings, fulfilment and advertising.

Seller Wallet first launched for the US store in 2022, enabling sellers to manage and convert dollar proceeds into more than 20 currencies. Amazon later expanded the service to seven European stores for sellers handling euro proceeds across multiple markets.

The latest launch means eligible sellers can now manage GBP, EUR and USD proceeds through the wider Seller Wallet programme, while keeping balances for each currency separate. Enrolment is available through Seller Central at no cost, according to Amazon.

Amazon has been adding financial tools for merchants as competition among eCommerce platforms shifts towards broader seller services. Payments, lending, currency conversion and working capital tools have become more important as marketplaces try to attract cross-border sellers and retain larger merchants.

Those sellers are also under pressure to manage tighter margins, making transparency on transfer fees and exchange rates more important. Scheduled withdrawals and clearer reporting can help merchants plan supplier payments and reconcile sales proceeds more quickly.

"Selling in the UK and internationally creates exciting growth opportunities, but it can also add complexity to everyday financial operations," said Manasi Kudtarkar, General Manager of Amazon Seller Wallet.

"With Seller Wallet GBP, we are giving sellers more choice and control over how they manage their UK proceeds, all from the same place they manage their business on Amazon," Kudtarkar said.