04-14-2021 06:50 AM - edited 04-14-2021 06:52 AM
So after over 18 years on ebay - most as a TRS (when it meant something) - I refused to opt into ebay managed payments, and left ebay .
I wonder if ebay misses any of us? - when I look at the 6 figure sales I do on Amazon - I wonder if ebay misses the commission on those sales? I also wonder what the real reason was for trying to force many of us - who use other online venues, as well as our own sites, into a seperate payment system we did not want - nor need?
I actually was just allowed to LIST a closeout of a lot worth $2000 for $850 (7 of them) ... without managed payments - but not allowed to edit it - once I tried , I got the "must use managed payments to list or update" screen.
How does that make ANY common sense?
Solved! Go to Best Answer
04-14-2021 10:34 AM
As I recall, there are quite a few recent posts here from sellers who did not complete the process to sign up for MP, and afterwards made sales. The end result seems to be that yes, eBay holds their funds until they either complete the process, or at some time the money will be sent to the seller's state of residence as unclaimed funds.
Don't take my word for it, browse the forum posts yourself.
04-14-2021 10:40 AM
Hi, while your latest post says you are responding to me, I assume you are responding more generally, because I don't think I made any snide remarks or even tried to be argumentative....I was just trying to explain about PayPal under Managed Payments....a common misconception is that buyers can no longer use PayPal , but they can....it's just that PP now sends the payment to ebay as agent, not into my PP account.
Frankly, I'm glad you are happy with your business as it is. I'm happy here, I'm happy with Managed Payments. But like you, I'm happy for any seller who is satisfied with whatever platforms or platforms they are using. Some people like ebay, some don't. Some like Amazon, some don't. And so forth. I always say: Use whatever works for you.
So, continued good luck with your business. ebay will survive without you, and you obviously will survive without ebay.
04-14-2021 10:48 AM
Thats no surprise! Im sure a year from now that disparity is twice that with revenues down equal parts.
04-14-2021 10:49 AM - edited 04-14-2021 10:51 AM
@veronicabooksandart wrote:Does Amazon transfer to themselves ownership of account receivable?
--------------------------------------------------------------------------------------
Wouldn't that be fulfillment?
All sales are owned by Amazon - despite them trying to avoid that liability - as far as I can tell - we are actually a drop shipper for amazon 🙂 (though they don't admit that)
FBA and FBM have no difference when it comes to payments.
Amazon bills to and collects from customer, they remit a shipping advise to the vendor and pays every 2 weeks normally .... when we purchase on Amazon , we pay to amazon with our credit card.
04-14-2021 10:52 AM
Stock Price April 2020: $36
Stock Price April 2021: $63
You be the judge...
04-14-2021 11:05 AM
more generic as you said.... exactly my sentiment - I never understand why so many people don't get there is always a way around a problem - I subscribe to "find a solution to every problem - not a problem for every solution"
I doubt a buyer would forfeit their money to ebay
04-14-2021 11:08 AM
@corvettestainless wrote:Stock Price April 2020: $36
Stock Price April 2021: $63
You be the judge...
oooppsssie - HUGE growth over that 6 years
The all-time high EBay stock closing price was 66.29 on July 17, 2015
04-14-2021 11:14 AM
I also wonder what the real reason was for trying to force many of us - who use other online venues, as well as our own sites, into a seperate payment system we did not want - nor need?
EBay didn't.
They were very happy with PP as a part of their company.
EBay had their own in-house payment processor, Billpoint, at the turn of the millennium.
They bought Paypal from Elon Musk and PP became their in-house processor.
PP was allowed to grow, but still belonged to eBay, and to accept work from other venues and even private individuals.
It became as big if not bigger than eBay's core business.
For you newbies, that included Skype at one time. A few other profitable ventures, a few less profitable.
The about six years ago, Carl Icahn, a Wall Street wolf, forced eBay into spinning off Paypal as a separate business, making himself another fortune before wandering off to murder ToysRUs.
EBay remained a customer of PP, but no longer owned it, nor did they get an income from the company.
So.
They made the decision to go a different way when the five-year contract with PP ended, and went with Ayden, a Netherlands company, quite new, but with international expertise to help with expanding* European and Asian markets.
TL/DR: EBay was forced to sell PP, and found a cheaper replacement program.
*The USA is a flat, mature market. It's the largest single economy in the world, but is not growing as fast as many. This was also why eBay introduced the Seller Protection of the Global Shipping Program to encourage US sellers to ship internationally, where the market is expanding.
04-14-2021 12:06 PM
I agree, and also add the Marine Corps slogan: Adapt. Improvise. Overcome.
But as I say, whatever works for each seller....some people love Amazon, others hate it. Same for ebay, etsy and every other platform. The bar to entry on many of these platforms is pretty low...much less than opening a brick and mortar in a busy downtown location....but that doesn't mean everyone is suited to every platform.
As to the ultimate disposition of funds paid by a buyer to a seller who isn't in MP, well, like I say, I'm in MP, so I have no way to test just what happens in those cases. I do know PP isn't going to just transfer it into the seller's account like it would do for a non-ebay transaction. But just what happens beyond that, I don't know. And it's not really a concern for me...I'd be curious to know, but I don't really feel the need to spend a lot of time investigating
04-14-2021 12:16 PM
@varebelrose wrote:As I recall, there are quite a few recent posts here from sellers who did not complete the process to sign up for MP, and afterwards made sales. The end result seems to be that yes, eBay holds their funds until they either complete the process, or at some time the money will be sent to the seller's state of residence as unclaimed funds.
Don't take my word for it, browse the forum posts yourself.
OP's listing must have gone active before their MP sign-up deadline, so the payment would go to their PayPal account. OP didn't bother to mention that they hadn't reached the deadline yet.
04-14-2021 12:35 PM
@glasser wrote:
eBay is a commission based revenue company. Any sale lost to another platform is a loss to eBay.
not really - eBay has too many sellers offering the same items, at similar prices. If I search for a USB cord, and one of the 1,000 sellers is fine, will I really miss that seller? No, I’ll buy a cord from one of the remaining 999 sellers, and eBay earns the same commission.
If I’m looking for something unique, maybe eBay loses out on a sale, but just as likely as I find something else that catches my eye.
A six-figure seller really isn’t worth much to eBay.
04-14-2021 12:47 PM
Ebay split stocks in July 2015, 2.375 Split. If you owned 1000 shares at 66.29, the next day you owned 2375 shares at $27
July 2015 $66
August 2015 $27 (after split)
April 2020- $36
April 2021-$63
Anyway, unless you sell numerous amounts of the 'one and only' and had no competition, ebay won't miss 1% of the sellers that leave. Buyers will just buy that same thing from someone else.
04-14-2021 01:06 PM
So, like eBay under MP, you don't appear on business recordings (i.e., buyer CC statements and Paypal transactions)?
-------------------------------------------------------------------------------------
As a supplier, does Amazon issue you a 1099-K?
04-14-2021 01:44 PM
I've been semi-enrolled since last November (in Canada) and have had no repercussions on listings or sales.
All my payments are still being handled by Paypal.
My only problem with the new regime, since I rarely buy on eBay or anywhere really, is that I am required to have my income deposited in a Canadian bank in Canadian dollars although most of my sales are in US dollars from the dotCOM site. This means I pay bank fees for currency exchange, which I am loathe to do.
I believe the only thing I have left to do, which I have been ignoring since November, is opening a dedicated bank account and giving MP that information.
04-14-2021 02:38 PM
i considered leaving but stayed and moved over to managed payments a few months ago. Even though they have been at it for over a year they have not fixed the problems. My accounts - I have 3 eBay accounts and 1 store.. over 8 calls to tech support and it is still not working for payouts. I can sell and they can take buyers payments but I have to ship with pirate ship and stamps .com because eBay cannot fix their managed payment program to process payouts from their managed payments to pay their own shipping platform. What a mess. I have moved my high end items to Et Sy, I sell my low end cast off here while I wait for yard sale seson then I am off here for good