SINGAPORE - Some sellers on e-commerce platform Qoo10 have not been able to withdraw their earnings, as far back as a month ago, The Straits Times has learnt.
Mr Jeffrey Quek, who sells construction and household items on the platform, claims he has more than $12,000 in earnings stuck with the platform since Feb 1.
“This is the longest I have waited for the sum to be reflected in my bank account, and it is quite a big amount,” said the 27-year-old, who last made a successful withdrawal on Jan 25.
Founded in 2010, Qoo10 is run by South Korean e-tailer Giosis Group, in partnership with e-Bay. It offers a variety of products, with notable brands such as SK-II, Coach and Kate Spade.
Earnings on the platform are released into the sellers’ accounts every Wednesday after the platform takes a cut of 10 to 12 per cent. Sellers can manually request withdrawals of their earnings, and the money would typically be transferred to the sellers’ bank accounts within two business days, sellers tell ST.
The sellers said they are still able to click “withdraw” on their account now, but the funds have yet to be reflected in their bank accounts.
Mr Quek had written seven e-mails to Qoo10 for the money, and was initially given specific dates by which the money would be reflected in his bank account, explaining the delay as a “technical issue”.
Another seller, who wanted to be known only as Ms Shan, claimed she has almost $8,000 tied up in her Qoo10 wallet since Feb 28.
Ms Shan, who has sold beauty products and household items on the platform since 2011, also experienced a payment delay in January this year, but never before that. In January, Qoo10 regularly updated her while attributing the delay to a technical issue.
The 39-year-old received her payment a week later.
When she did not receive her earnings after making a withdrawal request on Feb 28, she contacted Qoo10 via its hotline and e-mail, but was also told that it was because of a technical issue.
She said: “This is my full-time job, and Qoo10 is not providing any proper updates or reasons for the delay. People like me became sellers on this platform as we thought it was a credible platform.
“It is very frustrating to not receive funds for your items sold, when customers have already received it.”
The Straits Times also spoken to two other sellers who have not received their money from the start of this year, and have sighted the amounts in their Qoo10 wallets and their correspondence with the platform.
Mr Quek said some of the sellers who have yet to receive their funds have created a group chat to update one another if one gets a response from the platform. There are currently nine people in the group, with some waiting for around $3,000 to $4,000 each to be deposited.
In response to ST’s queries, Qoo10 said: “Technical issues causing transfer delays began recently as a result of global expansion and transformation towards creating a Pan-Asia marketplace.
“Part of the transformation involves the integration of payment systems among the company’s group of cross-border partners.”
The company also added that it is working to resume normal operations.
Ms Shan said: “I just want a proper explanation to be provided, and I want my hard-earned money back. We sellers have waited long enough, and the uncertainty of not receiving our money is affecting our business too.”
https://www.straitstimes.com/singap...o10-unable-to-withdraw-earnings-from-platform
