mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@shtf-armor wrote:Yes, "more money in my pocket" is total BULL. Now eBay gets 10% of my sales, PLUS 3.5% for the transaction? Not to mention, the 10% seems to be on the TAXED price to customer, so I'm essentially paying a tax on their tax.
Honestly, I like the way the hub works, but i cannot stand managed pymts.
Offering free shipping to customers already eats approx 12-18 dollars from each transaction, and then I'm charged 10% on top of that.
To be frank, my butt hurts a bit since this new program was implemented. I'm no big fan of oaypal, but at least when each item was "paid, ship now," I could scan my emai and ensure the funds were there on real time. Now, when it bottlenecks on weekends and holidays, I'm having to keep extra eyes on my bottom line to be certain it's legit.
10% of my sales made ebay almost as much as it made me, after I subtract all overhead.
Tack the transaction fee on, and ebay makes MORE PROFIT of my sale than I do.
Ingenious? Yes. Disingenuous? You betcha.
@Anonymous wrote:A bit of info which may be news to some, but eBay is no longer "processing" payments on Friday, Saturday and most of Sunday, if not all of it. So the "7 days a week" is down to 4 days or 4-1/2 days, and yes, that's quite different than what was promised because many sellers do more business on the weekends. So WHY would a payment processor NOT be processing on the weekends - other than to hold our money?
Another thing with MP is that people can STILL pay with PayPal even now, but eBay has rigged it so even THEN your money isn't seen or touched by you - though it's STILL in PayPal. This must've taken a bit more finagling than we've been told, and I've actually put several test transactions through eBay and spoken with the wizards at PayPal about this. They reluctantly admitted than yes, PayPal still sees eBay purchases paid with PayPal, but they deliberately HIDE those from you eBay sellers due to their recent agreement with eBay. Understand the driver in all this is eBay, and it seems to be getting so eBay is way too comfortable with providing misinformation to sellers to hide what is really occurring. It's the typical MO - promise it all, and give much less.
@Anonymous
It is unfortunate for sure. Ebay went to Business Day only processing back in August of last year. I still see some of my payments clearing on Saturdays. But Available funds will only transfer Monday Through Friday.
It isn't "rigged". MP is now your money processor, not PP. Buyers can use PP and then money comes into your MP account. This is by design because PP is no longer the money processor once you enter MP. YOu can't have it show both places since the money never enters your PP account when a buyer pays, it enters your MP account.
@tennesseecoin wrote:I ran a 125 Million dollar a year retail business thats over 2 million dollars per week until I retired. We strived to clear 7% after all expenses many large businesses operate on less than 10%
That is somewhat driven by the industry in which the company is in as well. I was in manufacturing for the aircraft industry, we made other things too, but mostly various things for aircrafts and our goals were 10-15%.
@Anonymous wrote:What you may be missing about payments coming through PayPal is that PayPal told me they STILL provide the money immediately, as they did previously - but that eBay is vectoring to their MP system instead - EVEN THOUGH PAYPAL HAS ALREADY "PROCESSED" IT.
We work with several other venues and have our own website, and those payment received through PayPal on those venues STILL appear in PayPal immediately and are available for transfer to our banks immediately. So eBay is getting the funds already processed by PayPal - and eBay does NOT need to "process" them again - but they're holding them anyway. It is a means of providing eBay with cash that they can then use interest-free for 2-4 days. THAT is rigging the system. When someone pays using PayPal, PayPal IS the money processor, and eBay really needs to do nothing further on that payment. It does get tracked within PayPal to your account as well - it's just that the source of the payment, if coded as "eBay", causes the entire transaction to be omitted from your visible PayPal account.
Thus PayPal has been part of this well, likely figuring this was better than being completely locked out of eBay's business entirely.
I've been in programming since 1976, and this isn't rocket science, but goes on all the time in financial circles. This is is simply at the level most folks are working with.
It isn't matter of it showing in "both places"; no one expects that at all. However, eBay does not need to do further processing on it at all either, but are using our money for free. If you calculate out to estimate how many people are using PayPal for payment times tens or hundreds of thousands of people each day, that's a LOT of money floating around without being paid interest on - enough to say, run a 35 billion dollar company without tapping into bank credit lines.
I'm not missing that fact. I've very familiar with how PP works. I'm unsure as to why you think I don't. What you are missing is that when a buyer submits a payment via PP to a seller's MP account, PP is no longer acting as the money processor. Show while the person from PP told you this, they are incorrect in the fact that PP is NOT the money processor on the transaction, MP is. PP processes the information, but the actual money is processed by MP once we are in MP.
You are suggesting that PP is acting as the money processor and MP is acting as the money processor too. They both are not doing the same job. Nor are both companies being paid for actually doing the money processing.
