Managing Currency Risk

andy-from-payoneer-in-our-brighton-online-seller-meetup

Recently I met a few Amazon businesses selling primarily in the UK and the US market. One of the sellers was experience pressing on profit due to devaluation of pound and their cost to suppliers has risen by 20%. Another seller has managed currency risk very well. They were turning about $ 250 k a year on Amazon US marketplace managing payments with Payoneer’s solutions rather than Amazon’s own payment. Payoneer’s account enable them to receive funds from Amazon eliminating risk of current pound devaluation.

On the other hand, Payoneer solutions also allows you to payout to your suppliers with Payoneer account so they were in a positive space compared to others who were converting USD to GBP and paying their suppliers back with USD.

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