Helium 10 has launched its new Alta program, which will let Amazon sellers access "robust digital wallet, rapid approval credit lines, daily advances on Amazon payments, international direct payment and tax management," according to a press release.
Helium 10 will provide new funding potential for third-party sellers looking to expand, the company said in its announcement of the new program. Alta users will be able to get up to $1 million in fast-approval credit lines, based on marketplace performance.
And the daily pay advance will help to allow Amazon users to get their funds immediately, rather than every two weeks.
The new program will allow access to marketplace payments even in countries where a local business entity isn't present, and payments can be stored in different currencies and accessed at any time. Users will be able to pay suppliers in over 200 different countries in 37 currencies, the release says.
The European/Canadian Value Added Tax (VAT) and Goods and Services Tax (GST) will both be fully managed with the service filling in initial payments, report filings and secure payments.
Amazon sellers were in a difficult place early in the pandemic, as shipments of medical items, household staples and other necessary items were given priority. That did, however, cause issues for sellers of other items, and caused layoffs, PYMNTS reported.
Helium 10 COO Bojan Gajic said the idea behind the new development was to help the processes stay smooth and accessible for users.
"The ability to source and manage capital while staying compliant with the international laws and regulations is an important part of that process, especially in the environment as volatile as the one we are facing today," he said, according to the release. "Alta by Helium 10 addresses that need and removes another obstacle on the Helium 10 customer's road to success."
Helium 10's VP of Product John Gjeldum said the platform was built especially for sellers.
"We know e-commerce sellers have unique financial needs when building their businesses," he said in the release, "whether it's providing access to capital, helping improve cash flow, navigating the expansion to new geographies or enabling payments to suppliers worldwide."