© 2021 SellerPay
© 2021 SellerPay
Frequently Asked Questions
SellerPay Seller Financing
Frequently Asked Questions
SellerPay Seller Financing
Why should I use SellerPay Seller Financing?
- Daily funding boosts your cash flow, giving you more capital to grow your business. You can pay your suppliers more quickly, invest in more inventory, or launch an advertising campaign to drive sales.
Which eCommerce platforms do you work with?
- Right now we only work with Amazon, but we’ll be adding more (Walmart, Shopify, eBay, etc.)
What does it cost to use?
- SellerPay charges a simple, flat fixed fee between 1% and 2% of your total net transactions (not gross transactions, as some others do.)
When will I receive the funds?
- Every weekday (Monday – Friday) by 5 PM ET.
Each morning we’ll scan the prior day’s shipments and fund you via same-day ACH, so the money is in your bank the same afternoon.
On Monday, you will receive 3 payments (Friday, Saturday, and Sunday’s shipments) since banks aren’t open on the weekends.
When Amazon pays, we apply the payment to your outstanding balance and release the extra funds.
How do you calculate my payment?
- Every morning, we scan information on your shipped orders. Amazon takes the sale price of an item, subtracts their fees, and adjusts for refunds. That final amount is your daily net transactions. We calculate our fee and your advance and pay you your advance minus the fees.
Example: Charisse is an Amazon Seller who qualifies for a 1.5% rate and a 70% advance for SellerPay Daily Funding. This payment period, she has shipped $115,000 of Amazon orders. After $15,000 in Amazon fees, her net transactions are $100,000. She paid $1,500 (1.5% of $100,000--we don’t charge on Amazon fees) to receive her payments the next weekday, every weekday. Overall, SellerPay advanced her 70% of her net transactions minus our fees ($70,000 minus $1,500 for a total of $68,500) and paid her the remaining 30% ($30,000) when SellerPay received Amazon’s payout per her usual payment schedule.
Is it a loan?
- No, technically we purchase accounts receivable, so it’s not considered a loan.
Why don’t you advance 100%?
- Refunds happen, and if we advanced 100% of your orders, Amazon’s payment might be less than the total we advanced. This means we would have to charge you back when we receive Amazon’s payment.
Why didn’t I get paid today?
- Your daily net transactions may be negative (returns exceeded net shipments), or you didn’t ship any orders.
How can I check my daily fundings?
- You can use our online portal at account.getsellerpay.com
Can I connect multiple stores?
- Yes
Why should I use SellerPay Seller Financing?
- Daily funding boosts your cash flow, giving you more capital to grow your business. You can pay your suppliers more quickly, invest in more inventory, or launch an advertising campaign to drive sales.
Which eCommerce platforms do you work with?
- Right now we only work with Amazon, but we’ll be adding more (Walmart, Shopify, eBay, etc.)
What does it cost to use?
- SellerPay charges a simple, flat fixed fee between 1% and 2% of your total net transactions (not gross transactions, as some others do.)
When will I receive the funds?
- Every weekday (Monday – Friday) by 5 PM ET.
Each morning we’ll scan the prior day’s shipments and fund you via same-day ACH, so the money is in your bank the same afternoon.
On Monday, you will receive 3 payments (Friday, Saturday, and Sunday’s shipments) since banks aren’t open on the weekends.
When Amazon pays, we apply the payment to your outstanding balance and release the extra funds.
How do you calculate my payment?
- Every morning, we scan information on your shipped orders. Amazon takes the sale price of an item, subtracts their fees, and adjusts for refunds. That final amount is your daily net transactions. We calculate our fee and your advance and pay you your advance minus the fees.
Example: Charisse is an Amazon Seller who qualifies for a 1.5% rate and a 70% advance for SellerPay Daily Funding. This payment period, she has shipped $115,000 of Amazon orders. After $15,000 in Amazon fees, her net transactions are $100,000. She paid $1,500 (1.5% of $100,000--we don’t charge on Amazon fees) to receive her payments the next weekday, every weekday. Overall, SellerPay advanced her 70% of her net transactions minus our fees ($70,000 minus $1,500 for a total of $68,500) and paid her the remaining 30% ($30,000) when SellerPay received Amazon’s payout per her usual payment schedule.
Is it a loan?
- No, technically we purchase accounts receivable, so it’s not considered a loan.
Why don’t you advance 100%?
- Refunds happen, and if we advanced 100% of your orders, Amazon’s payment might be less than the total we advanced. This means we would have to charge you back when we receive Amazon’s payment.
Why didn’t I get paid today?
- Your daily net transactions may be negative (returns exceeded net shipments), or you didn’t ship any orders.
How can I check my daily fundings?
- You can use our online portal at account.getsellerpay.com
Can I connect multiple stores?
- Yes
