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Majority of self-published books are published and sold via Amazon.com.
Touted as the world’s largest retail seller of digital ebooks, an estimated 74% of all ebooks purchased in the U.S. were sold by Amazon in 2015.
With this huge market share, it’s no wonder self-published authors put up their books on Amazon, hoping to sell them.
But how do Amazon authors get paid?
For US-based authors, Amazon payments are sent to their bank account through direct deposit or check, or payment service account using an Automated Clearing House (ACH) or electronic funds transfer, two months after their book is sold.
Getting Paid problems by non-US Authors
Needless to say, Amazon’s payment policy is a problem for most non-US authors who do not have US bank accounts.
Payments for their sold books can only come from checks which means longer waiting time and additional hassle. To top it all, royalty payment of checks are only sent after accruing a minimum $100 sales income. This could take years!
Amazon does not accept payment through PayPal. It’s their competitor.
How can non-US authors get paid, then?
Payoneer is the Best Option to Get Paid on Amazon for Non-US authors
Payoneer is an international digital payment platform which provides its users with a way to get paid–and pay–globally. It works for over 200 countries and territories.
Payoneer gives non-US authors the option to receive payments of their Amazon sales into their Payoneer account and transfer them directly to their local bank in their local currency.
It’s a better alternative to PayPal. But Payoneer is much more. It empowers authors and other entrepreneurs from developing countries like the Philippines by allowing them to transact with the rest of the world.
How to Get Paid on Amazon thru Payoneer
Signing up for a Payoneer account is Free. Sign up, submit requirements, and wait for your account to be reviewed and activated. Once activated, you will get a virtual US, Euro, and UK bank account.
Log in to your KDP account. Click Your Accounts in the top right corner. Scroll down to Getting Paid. In the Your Bank Accounts part, click on Add Bank Account. Enter the information provided to you by Payoneer. At the bottom of this section, a list of all Amazon marketplaces are listed. Click each button and choose to Pay my Royalties via EFT in US currency. Then click Save.
You can withdraw money from your Payoneer account by transferring it to your local bank account. Click HERE for the step-to-step instructions on how.
Not Just for Non-US based authors
Payoneer is very useful not just for authors. Freelancers, eSellers and affiliates around the world use it to get paid. It’s a safe, simple and secure way to receive funds from global clients.
If you don’t want to wait years before receiving your first Amazon paycheck, try going the Payoneer route. Sign up below!