Selecdoo continues to evolve steadily. Over time, a small idea has developed into a stable and sustainable platform that helps online shops and workers of all kinds generate more revenue through genuine recommendations.
Influencers, bloggers, content creators, as well as all types of affiliate and advertising partners, have long benefited from the growing development and reliability of the Selecdoo platform.
With the start of the 3rd quarter of 2024, some changes are being made, which are summarized and explained in detail in this update/article.
What is changing for Publishers and Advertisers?
There is a change that affects both publishers/partners and advertisers/shops. The Selecdoo platform is becoming a joint-stock company (AG) based in Basel, Switzerland. This change has already been reflected in the respective terms and conditions (T&Cs). No further changes will be made to the T&Cs. The T&Cs will also be updated accordingly on the Selecdoo platform.
What impact does this have?
Basically, this has no impact on regular business operations. The only change concerns payouts and invoicing: shops/advertisers that are not based in Switzerland will no longer have VAT listed or charged on the respective documents. The reverse charge mechanism will apply in this case.
Partners and shops located in Switzerland will receive invoices or credit notes with the applicable Swiss VAT rate.
What do Advertisers and Publishers need to consider now?
Shops/Advertisers:
Shops/advertisers generally do not need to take any action. Selecdoo already has all the necessary information. Shops only need to save the new bank details and use the new Selecdoo bank account to pay invoices. The details are:
Selecdoo AG
Nauenstrasse 49
4052 Basel - CH
IBAN: CH95 0630 0507 2404 5455 3
BIC: VABECH22XXX
Bank: Valiant Bank
Please be sure to use the new bank details as a shop/advertiser. You will also find these on the new invoices. Please only use the bank details listed on your invoice.
Publishers/Partners:
Partners must enter their tax number or the corresponding VAT ID in their Selecdoo account in the following fields. This information needs to be entered in two places. Please proceed as follows:
1. Log in to your Selecdoo account **on a computer**.
2. Click on "My Profile" in the left-hand menu.
3. Click on "Personal Details."
4. Enter your tax number or VAT ID in the fields "VAT/Ust. ID" and "Tax ID."
5. Click the "Save" button.
Here’s a small screenshot to help you navigate:
Please also double-check that both your address and your bank details are correct.
What happens if you don't do this or if your address or IBAN is missing?
In that case, Selecdoo simply cannot issue you a credit note, transfer any money to you, and as a result, you will not receive any commission.
What happens if you provide incorrect information?
Selecdoo will verify every entry before commission payouts at the latest. If you provide incorrect information, you will not receive any commission.
Furthermore, this situation will be investigated by Selecdoo's compliance team, and it may lead to your account being suspended, resulting in the permanent loss of your entitlement to both your commissions and lifetime commissions.
Why has Selecdoo become a joint-stock company (AG) in Switzerland?
Contrary to the common assumption that this move is for tax-saving purposes, the actual reason is entirely different. By becoming a joint-stock company (AG) in Switzerland, Selecdoo is decoupling from the Eurozone and the European Union. The Swiss economic environment offers increased security for publishers/partners as well as for shops/advertisers.
Additionally, Selecdoo can continue its growth much faster in Switzerland, which ultimately benefits the entire platform.