Period of Payment Delay
Joom transfers the payment twice a month. Payments usually come through on the 1st and 17th of the month. Joom can make a payment to Chinese merchants only if the final amount exceeds 20 USD. The period of payment delay depends on merchant performance , it varies from two weeks to eight weeks. For merchants whose accounts have been banned (closed) by Joom, the period of payment delay is twelve weeks.
Final Payment amount = Total sales amount merchant made - commission - refunds - additional logistic cost - Joom Ads cost
⚠️ PLEASE NOTE: Unlike with payments, there is no delay in the deductions from the logistics invoices and Joom Ads invoices. For example, the logistics bill for the first half of September will be reflected in deductions in mid-September, the logistics bill for the second half of September will be reflected in deductions in early October, and so on and so forth.
For more details about Invoices and Payment, please watch the video Joom Billing.
Merchants in China use Payoneer as the default payment method: the payment is transferred from the Joom's Payoneer account to the merchant's Payoneer account. As Joom works only with companies you have to indicate the company account (not your personal account) specified in the legal documents accepted during registration, whenever you provide payment information. Payment account must belong to the company stated in your KYC Profile, which must be filled out and approved.
How to Sign In With Payoneer?
- Go to the Settings page in your Joom account and choose the Payment Method tab;
- Choose Payoneer as a payment method and click on the Connect Payoneer button. If you don't see this button, please pass the KYC Profile review first.
3. Please sign up (if you don't have a Payoneer account) or log in (if you already have one). For signing up Payoneer account, you will have to go through the KYC review process of Payoneer.
If everything is correct, you will see the message: Payoneer account is successfully linked. Please make sure that your Payoneer account is in active status, otherwise you will not be able to receive payment from Joom.
⚠️ PLEASE NOTE:
- If you find errors when linking your Payoneer, please check if the company registration number in Joom and Payoneer match each other. You can do it by checking your KYC Profile.
- If you need to change the linked Payoneer account, you will be able to do it only if another Payoneer account is opened under the name of the same company.
- If you need to unlink your Payoneer account, please contact Joom support.
- If you can't receive payment from Joom due to the Payoneer account inactive status, please consult with Payoneer.
You may see Bank as your second option, if it is available for you. However, Payoneer is recommended as your payment method.
If you choose bank, please fill out all the necessary information and click on the Save button.
How to Change the Payment Information?
- Go to the Settings page in your Joom account and choose the Payment Methods tab;
- Make necessary changes and click on the Save button;
- You will get an e-mail letter with the confirmation link: click on the link and you will be redirected to a new page;
- You will see the list of changes: accept or reject them;
- When you refresh the page, your payment information will be changed.