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Amazon sellers today are operating in one of the most competitive landscapes in ecommerce. Margins are tighter. Advertising is more expensive. And the pressure to expand internationally has never been higher.
For many sellers, their payment setup becomes a drain on revenue: slow payouts, unfavourable foreign exchange (FX) rates, and conversion fees quietly eat into profits that could be reinvested into stock, operations, or growth.
OFX is a familiar name in the cross-border payments space, once a “go-to” option for many sellers. However, as of October 2025, OFX will no longer service Amazon sellers.
Now, an increasing number of sellers are actively seeking OFX alternatives that offer sharper FX pricing, better automation, and stronger global infrastructure. Amazon sellers need a financial partner that understands how marketplaces work, how exchange volatility affects margins, and how essential it is to have fast access to funds.
But with so many options on the seller partner appstore, how can someone make the right choice?
What is the ideal PSP for Amazon Sellers?
For many amazon sellers, the challenge starts with the cost of converting their earnings.
A few tenths of a percent don’t seem like much in theory, but when you add up dozens of payouts across multiple marketplaces, the real cost becomes harder to ignore.
Sellers quickly realize that even a slightly more competitive foreign exchange (FX) model can mean thousands saved over the course of a year. Therefore, having a provider that can offer preferential FX rates are a must for Amazon Sellers.
Then there’s the question of cash flow.
Amazon payouts, currency conversions, and cross-border transfers don’t always move at the pace a scaling business need.
When your entire operation relies on buying inventory quickly, paying manufacturers on time, and investing in advertising before the next sales cycle, slow settlement can slow growth. The solution is to find an Approved Payment Service Provider (PSP) that can make transactiosn faster.
And finally, the more countries and marketplaces you sell into, the more accounts, spreadsheets, and reconciliation tasks pile up.
What begins as a simple business can quickly become a network of currencies, bank accounts, FX conversions, and manual processes. Finding a solution that can streamline all of that admin work, or automate it is the way forward.
Sellers who need an alternative Amazon Approved PSP to OFX now have an excellent opportunity to streamline their financial operations by finding a single, central system that supports every currency and payout method, faster and more cost-effectivley.
This is exactly where TransferMate comes into play.
TransferMate: A Global Payments Network Built for Amazon Sellers
TransferMate stands out as the go-to-option for Amazon Sellers because it’s not just an FX tool or a bank alternative. It is a fully regulated global payments network - the largest of its kind in the world - built on the back of licenses in 99 jurisdictions, with 13 currencies available for direct use on Amazon with stored value.
For Amazon sellers, that means the ability to receive payouts in multiple currencies, hold those balances, convert them on your own terms, and pay suppliers worldwide. And all of this is possible without the friction traditionally associated with cross-border payments; fewer intermediaries, fewer delays, and fewer surprise charges cutting into margins.
A major advancement in this global infrastructure is TransferMate’s capability to process payouts in Mexico via Transferencia Electrónica de Fondos (TEF).
This makes TransferMate one of the very few Amazon-approved Payment Service Providers (PSPs) able to route marketplace earnings directly through Mexico’s domestic clearing system.
For Amazon sellers expanding into Mexico, or those already established there, this unlocks something incredibly valuable: the ability to receive payouts in local Mexican Peso (MXN), domestically, without unnecessary conversions or cross-border transfer fees.
The benefits go far beyond cost savings.
TEF payouts give sellers faster access to their Amazon revenue, improving cash flow. Funds land locally, predictably, and compliantly, thanks to TransferMate’s integration into Mexico’s regulated banking network.
Instead of dealing with slow international wires or losing margin through forced FX conversions, sellers gain a clean, efficient, locally optimised flow of funds. That’s something very few OFX alternatives or other Amazon Approved PSPs can offer.
It reinforces TransferMate’s position as one of the most scalable OFX alternatives for Amazon sellers, providing the infrastructure needed to support true international expansion, whether that’s in Mexico, Europe, the US, APAC or beyond.
How TransferMate Helps Amazon Sellers Grow
One of the biggest advantages sellers receive from TransferMate is the ability to hold and manage multiple currencies in a way that fits their business rather than forcing them into a fixed payout schedule.
Instead of seeing money automatically converted at whatever rate happens to be applied on the day Amazon releases your payout, TransferMate lets you store your earnings in the currency you earned them.
You can convert when it makes sense for your cash flow, or when the FX rate is more favourable.
Some sellers choose to use their foreign balances to pay suppliers in the same currency, thereby avoiding conversion entirely.
Others prefer to build a timed FX strategy with our auto-sweeping rules, converting account funds based on balance amounts, or per on a per transaction basis. TransferMate gives sellers freedom to operate like global businesses rather than being restricted by rigid, automated FX flows.
Sellers also benefit from TransferMate’s preferential FX rates.
As TransferMate uses its own regulated payment rails rather than chains of correspondent banks, it can reduce the costs and delays associated with traditional cross-border transfers. Over the course of a year, this can have a meaningful impact on a seller’s bottom line, especially when payout volumes are higher.
The speed of payment matters too.
TransferMate’s infrastructure allows sellers to access their funds faster and move them more efficiently between currencies. Faster turnaround means purchasing inventory earlier, paying manufacturers on time, and keeping your supply chain moving during peak sales periods.
For those managing large or multi-market operations, TransferMate becomes a central financial hub. Sellers can track every incoming payment and every supplier payment in one place. This creates cleaner accounting, easier reconciliation, and far less time spent managing financial admin.
A Better Experience for Amazon Sellers
As Amazon businesses grow beyond the early stages, they need financial partners who understand the complexities of international scaling. TransferMate brings together deep regulatory expertise, enterprise-grade compliance, and dedicated support, which becomes increasingly important as your business reaches higher payout volumes or more complex supplier relationships.
Not to mention that TransferMate is the underlying infrastructure used by many other Amazon Approved PSPs. Why use another option, when you can go directly to the source for the best experience and value?
Is TransferMate the OFX Alternative You’ve Been Looking For?
If you’re an Amazon seller who’s felt the impact of a PSP like OFX dropping support on Amazon, exploring an alternative is a natural next step.
TransferMate offers a solution designed specifically for businesses that operate globally, earn in multiple currencies, and rely on clean, predictable cash flow to fuel growth.
It provides the control you need, the speed you want, and the security your business deserves as it scales into new markets.
Get started with TransferMate on Amazon today, or speak with one of our representatives to help you through the setup process.
