eBay

hero-for-hire · ‎08-17-2021

My Theory on Ebay Managed Payments:

While Ebay tries to paint a rosy picture of 'EMP' as being a positive move to 'simplify and improve' the buying & selling for both Buyer AND Seller...

What it really does is give Ebay the opportunity to inject itself into the transaction and control the money...high-probability; for their own corporate benefit.

How So?

Well; note that under 'EMP', when an item is paid for, the $$ is NOT available to the Seller.

Ebay has total control of that $$ for at least A FULL DAY...

A full day where--if I am right--that $$ sits in an Ebay Bank Account ....and COLLECTS INTEREST!

Now, one day of Interest may not be much for just ONE sale...pennies, at best.

But...How many sales happen on Ebay in a given day?

How much $$$ would be collecting Interest..for one full day?

(Que the sound of Lots O` Pennies of Interest adding up! CHA-CHING!...EVERY 24 HOURS!)

I know this much; BEFORE, when PayPal was handling things, I had my payment from a sale within one day of the transaction--(within 30 MINUTES, if I wanted to sacrifice a nominal transfer fee).

With 'Ebay Managed Payments', I wait for DAYS before Ebay tells me that they are sending my payout, and that it may still take' 1-2 Business Days' to show up in my Bank Account.

Question: If PayPal could zap my $$ so fast...

WHY does it take Ebay so much more TIME to do the same thing?

(My theory does not sound quite so wild now, does it?)

I spent 15 years as a Private Investigator, and Motive is always the prime consideration when seeking answers. Ebay inserted it`s corporate nose into everyone`s Business (literally) for a reason that benefits Ebay, not to 'simplify and improve' things.....by making them more complicated and time-consuming!

So: Cui Bono? ('Who Benefits?')

Well --- Follow The Money !

Incidentally...IF this theory is correct...

The least Ebay could do is eliminate their Fees, considering the pile o` $$$ they are making for doing..nothing .....but let Our Money sit in Their Bank !

It`s one thing to take advantage of an actually quite legal financial opportunity..

It`s another to DOUBLE-DIP and charge us all FEES for that opportunity!

hero-for-hire · ‎08-17-2021

RE: "From what I understand, while it's in the ACH system, the funds are in no ones account, just moving through the system."

--...And how is it that this nebulous 'system' requires at least 24-36 hours to have funds 'move' through it, and is SO DIFFERENT than the system that PayPal apparently used that could deliver funds to my bank account in 30 minutes?

Your point makes no cents...or more importantly; DOLLAR$!

hero-for-hire · ‎08-17-2021

RE; "

Theory is with proof:

you have gave no proof

therefore its a hypothesis."

-----Your puerile attempt to wander into conceptual semantics aside...

MY THEORY is based upon clear Observational FACTS;

1) PayPal could and DID electronically 'zap' my money from my PayPal account to my bank within 30 MINUTES.

2) Ebay Managed Payments --even with the (so-called) 'Daily Payouts' option chosen, cannot deliver funds to my bank account within 3 DAYS.

3) Both PayPal AND Ebay/Adyen are engaged in EXACTLY THE SAME PROCESS.

Supposition*: Something is going on with that money in the lag time that NOTHING is going on with transferring that money.

(* See Thesaurus under; THEORY!)

kensgiftshop · ‎08-17-2021

@hero-for-hire wrote:
RE: "From what I understand, while it's in the ACH system, the funds are in no ones account, just moving through the system."

--...And how is it that this nebulous 'system' requires at least 24-36 hours to have funds 'move' through it, and is SO DIFFERENT than the system that PayPal apparently used that could deliver funds to my bank account in 30 minutes?
Your point makes no cents...or more importantly; DOLLAR$!

Again, that would be a good question to ask your bank.

It makes perfect since, if you knew how the system works.

Have a great day

north40sales · ‎08-17-2021

You would think that in today's super-woke culture, people would have learned not to mix their politics into their business.

mr_lincoln · ‎08-17-2021

@wakebaconsnow wrote:
Hello,
As an ebay seller and investor in the company as far as stock ownership I am both very happy with the new managed payments system. Using paypal I had to log into paypal each time I wanted to transfer my funds to my bank account. I wouldn't often remember to log into paypal to transfer my funds so sometimes my money sat on paypals account for way too long. In cases where I would get a return my money would sit on my paypal without my knowledge for a very long time. If you select the option to be payed every business day by ebay managed payments you will receive a daily payment monday-friday to your bank account without having to do anything which is very nice. It also eliminates a tiny bit of fees from paypal even after ebay raised their fees. The only downside I seen was I was told with managed payments I can no longer sell bullion or silver / gold coins which I'm not sure of because I still do see coins listed on the marketplace. Maybe you have to be a certified seller. Does anyone know the answer as far as how to sell bullion and silver coins / money?
As far as the managed payments goes I love it. If you really need your money from a sale within 24 hours it doesnt seem like a very big deal. They have been pretty good to me and I like it much better than having to log into paypal every day. I hope eBay is making good investments with the "Float" and see this as a great opportunity from an investment standpoint. Ebay is a great business and they have been doing a great job simplifying their business model lately to provide better service to both the sellers and buyers. Managed payments is actually working very good. I have been getting paid very quick from all my sales.
Thanks Ebay! Keep up the good work! Much Love
Rick

@wakebaconsnow My understanding from a Seller who messaged me privately is that accounts that were established BEFORE Managed Payments and sold coins, etc. were permitted to stay with PayPal. I think it has something to do with International currency laws (I'm not an expert on this). I do not know what the final outcome was but based on your post it sounds like those type products have not been rolled in to Managed Payments yet ...

Regards,
Mr. Lincoln - Community Mentor

glasser · ‎08-17-2021

@chapeau-noir

What you describe is antiquated system. I am sure crypto payments process quickly as do stock purchases and sales ( though the may clear at days end or the next day I think).

There is no reason, other then investments banks would need to make in tech and the money made on the float, for there not to instantaneous payments. Some of this I assume goes back to the days many payments were by check and paper moves slow. Also, I believe the three day window is forced on processors to make funds available quickly, Checks too way to long to clear.

mr_lincoln · ‎08-17-2021

@north40sales wrote:
The only time they would hold the funds is if you chose weekly payouts, even then, they don't make any interest, because the money isn't theirs.

Most large companies hold these kind of funds in interest bearing commercial accounts and while the money is in their custody, they earn interest on the balance. Its completely legal and an acceptable business practice and to be honest, I would expect any company with a few million dollars in the float at any given time to avail themselves to the interest revenue stream.

@north40sales Yes, they hold Weekly Payouts for an extra week 6-8 times per year on Monday bank holidays. This is intentional, otherwise they would either pick Wed-Fri or let Sellers pick which day of the week they want Weekly Payouts. They won't budge off Tuesday, I know, I asked.

Here is a chart showing all the Holidays ... yep, in a 10 year period about 100 Holidays and 62 of them are Mondays ... so for me, until they change the Weekly Payout day or let Sellers pick which day they want this is absolutely intentional AND they somehow benefit financially from holding all those millions for an extra week ...

Regards,
Mr. Lincoln - Community Mentor

chapeau-noir · ‎08-17-2021

@glasser wrote:
@chapeau-noir

What you describe is antiquated system. I am sure crypto payments process quickly as do stock purchases and sales ( though the may clear at days end or the next day I think).

There is no reason, other then investments banks would need to make in tech and the money made on the float, for there not to instantaneous payments. Some of this I assume goes back to the days many payments were by check and paper moves slow. Also, I believe the three day window is forced on processors to make funds available quickly, Checks too way to long to clear.

@glasserThe US banking system is, in general, antiquated. I spend part of the year overseas and our payment methods, inability to make direct transfers, etc., is actually embarrassing. Chip and pin are FINALLY here, long after they appeared in Europe. I remember merchants even in London, the crossroads of the world, having to figure out how to use our old-fashioned swipe cards. I say "US" and it's "Ah, thank you" and they have to use the old swipe method.

The ACH has been pressuring banks to speed up the system.

@mr_lincoln I'm thinking that once eBay develops an electronic wallet (they had better), we'll have more flexibility in payment transfers. I use managed payments on every other site where I sell, and I know Posh and Mercari have wallets, and we can transfer money when we wish. In both cases, the sites were put together with managed payments and wallets, rather than the cumbersome eBay-Paypal non-integration. eBay has to back-engineer this. Both Posh and Mercari I believe use Adyen. That's just my own observation though.

When you dine with leopards, it is wise to check the menu lest you find yourself as the main course.

#freedomtoread
#readbannedbooks

whitewaterford · ‎08-17-2021

FYI: (@mr_lincoln & @wakebaconsnow ) eBay sellers of coins/bullion were eligible to migrate into Managed Payments during 1Q2021 but not before as whatever issues apparently were resolved.

mam98031 · ‎08-17-2021

@desert_rat_ny wrote:
You are 100% correct. If there was not money in it for them they would not be doing it. In business if they its not about the money, then its about the money.

@desert_rat_ny

You are ASSUMING that interest is the only way they could be making any money off of MP.

Likely the single biggest Cash Flow boost to Ebay was the act of collecting FVFs up front. They no longer have to wait 45+ days to get paid nor do they have collection problems anymore or far fewer. This is a HUGE boost for Ebay.

Second would be now they are collecting the money processing fee.