11st, 90% Settlement Next Day After Delivery Completion... 22,000 Sellers Benefit

Seller Office screen of 11st seller management site.

[Asia Economy Reporter Lim Chunhan] 11st announced on the 23rd that the number of sellers who have received the Fast Settlement benefit has exceeded 22,000.

Fast Settlement is a free service designed for sellers who provide fast shipping services to customers by shipping on the day of order. The number of sellers receiving Fast Settlement on 11st has doubled compared to the initial introduction, and the maximum daily amount of Fast Settlement is 3.4 billion KRW.

11st has maintained a policy of 100% settlement the day after the customer's purchase confirmation. Currently, purchase confirmation is automatically converted on the 8th day after delivery completion, even if the customer does not confirm directly. Including the delivery period, settlement is usually completed within about 10 days, which is already the fastest settlement cycle in the e-commerce industry.

To encourage sellers to provide faster delivery services to customers, 11st settles 90% of the settlement amount the day after the product shipped on the day of order is delivered to the customer. Sellers receive settlement within 2 to 3 days after the customer orders and pays for the product, which is about 7 days earlier than the general settlement.

An 11st official stated, “Co-prosperity with sellers is the most fundamental principle in the e-commerce industry,” and added, “We will maintain a co-prosperity platform that prioritizes providing a better environment for sellers, which ultimately satisfies buyers.”

This content was produced with the assistance of AI translation services.