Ebay intermediate payments announcement

[usedgoodsforsale2021]

I happened to see it on Facebook from ebays business page. 

https://community.ebay.com/t5/Announcements/eBay-to-Intermediate-Payments-on-its-Marketplace-Platfor...

[readabouthorses]

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It means Ebay is going to start handling their own payment processing, with Paypal as a payment option, instead of their current credit card processor.

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Well.  That may not be a bad idea if they do it right.  I've considered suggesting that a few times in recent weeks.  Just think, they could potentially take back refunds issued to buyers in error.  Or have new buyers place a CC on file for payment disputes. 

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Well my first thought was .... they tried handling payments in the past and that didn't work out so how can we trust they can do it right this time?

Do you really really want Ebay to have their fingers in your bank accounts? How much financial information will they be requiring?

[lloydsteventaylor]

livadia,

thanks for your post. you seem to use Etsy. i have a couple of questions about how Etsy works. do you have  to transfer the funds out of your Etsy account or can you just leave the funds there? Can you request a check from etsy for you balance? can you use your Etsy funds to buy from another website off Etsy? do you have to have a bank account to use Etsy payments? thanks for any help you can provide.

[penguins_dont_fly]

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wrote:

livadia,

thanks for your post. you seem to use Etsy. i have a couple of questions about how Etsy works. do you have  to transfer the funds out of your Etsy account or can you just leave the funds there? Can you request a check from etsy for you balance? can you use your Etsy funds to buy from another website off Etsy? do you have to have a bank account to use Etsy payments? thanks for any help you can provide.

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@lloydsteventaylor

Etsy transfers your money into your bank account once a week.

[ittybitnot]

 but eBay is correct that offering wider payment choices should help sales. ...

If ebay truly believes this, why did they disallow all the payment processors we were once able to use?   There are many out there.  I suppose unless ebay can jack your money at will those will stll not be allowed no matter how much sales might increase.  Just more SPIN 

[penguins_dont_fly]

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wrote:

 but eBay is correct that offering wider payment choices should help sales. ...

If ebay truly believes this, why did they disallow all the payment processors we were once able to use?   There are many out there.  I suppose unless ebay can jack your money at will those will stll not be allowed no matter how much sales might increase.  Just more SPIN 

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Because that was part of the agreement with PayPal.

When they split in 2015, there was a clause in the agreement that eBay had to continue to use PayPal for 80% of the payments processed though the site for 5 years ... or pay penalties.

2020 will be the end of that agreement.

https://www.reuters.com/article/us-ebay-paypal/paypal-ebay-to-stay-interdependent-for-five-years-aft...

[papyruspapillo]

As of Thursday morning,  ebay is trading at 45.90 and papypal at 78.38.

[annindallas]

Yes, Ittybitnot, Adyen is more cost effective, cheap. No contract.

My concern hasn't been mentioned: Customer Service. The only bad adyen reviews involve customer service.

When something comes up, I call ebay cs first, just so I can call Paypal and and relay the conversation. They always enjoy that.

Paypal speaks english. Paypal will listen and help.

If someone asks, I can tell you a story that only an ebay seller would believe.

I suspect it will make ebay smaller and more controllable. Other sites will grow.

Without a PayPal rep to call, I'm fearful for the future.

Ebay is notorious for rolling out beta before it's ready (see mobile app board).

And when they make mistakes, such as a wrong invoice due to charging for free listings (twice in the last few months), who can I turn to?

[tev4all]

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Adyen is a global payment company that allows businesses to accept e-commerce, mobile, and point-of-sale payments. Adyen has more than 5,000 customers and is privately held.

This statistic shows the number of total active registered user accounts to online payment platform PayPal. In the third quarter of 2017, more than 218 million accounts were active worldwide. PayPal is a global online payment business allowing users to make payments and money transfers online.

if the above is true... call me concerned about this new partnership....  

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One thing that concerns me with this partnership is how many ebay employees will jump ship prior to Adyen offering an IPO.

It doesn't surprise me that another HOOP is soon to be held up for TRS sellers through this multi-year  transition to full payments intermediation.       

[southern*sweet*tea]

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wrote:

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wrote:

livadia,

thanks for your post. you seem to use Etsy. i have a couple of questions about how Etsy works. do you have  to transfer the funds out of your Etsy account or can you just leave the funds there? Can you request a check from etsy for you balance? can you use your Etsy funds to buy from another website off Etsy? do you have to have a bank account to use Etsy payments? thanks for any help you can provide.

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@lloydsteventaylor

Etsy transfers your money into your bank account once a week.

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Or you can manually transfer it when you get a payment. That's what I do. The payment will be in my credit union account in 24 hours.

[thevintagesilvershop]

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wrote:

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wrote:

livadia,

thanks for your post. you seem to use Etsy. i have a couple of questions about how Etsy works. do you have  to transfer the funds out of your Etsy account or can you just leave the funds there? Can you request a check from etsy for you balance? can you use your Etsy funds to buy from another website off Etsy? do you have to have a bank account to use Etsy payments? thanks for any help you can provide.

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@lloydsteventaylor

Etsy transfers your money into your bank account once a week.

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I have my etsy bank transfers done daily. You have that option. 

[rappstradingpost]

"To enable payments in their eBay accounts, sellers should expect to provide eBay with some additional payments-related data and transition to a new relationship with eBay that includes integrated payments capabilities."

THIS IS ANOTHER WAY FOR THEM TO HAVE THEIR HANDS IN YOUR POCKET..

[thedirtmodeler]

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Maybe cryptocurrencies will be a payment option now.

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i'd bank on it.

Norway is one of the biggest adopters of Crypto

[the_fancy_fox]

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wrote:

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wrote:

It means Ebay is going to start handling their own payment processing, with Paypal as a payment option, instead of their current credit card processor.

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Well.  That may not be a bad idea if they do it right.  I've considered suggesting that a few times in recent weeks.  Just think, they could potentially take back refunds issued to buyers in error.  Or have new buyers place a CC on file for payment disputes. 

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Well my first thought was .... they tried handling payments in the past and that didn't work out so how can we trust they can do it right this time?

Do you really really want Ebay to have their fingers in your bank accounts? How much financial information will they be requiring?

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I would imagine bank account and ss#. Regardless, it means those that haven't already set up a separate bank account need to do it.

[jason_incognito]

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I may be wrong but I think the buyers will resist this more than sellers.  Buyers trust and use paypal and not just for eBay.

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buyers are used to simply plugging in their card number. 

[readabouthorses]

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wrote:

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wrote:

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wrote:

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wrote:

It means Ebay is going to start handling their own payment processing, with Paypal as a payment option, instead of their current credit card processor.

---

Well.  That may not be a bad idea if they do it right.  I've considered suggesting that a few times in recent weeks.  Just think, they could potentially take back refunds issued to buyers in error.  Or have new buyers place a CC on file for payment disputes. 

---

Well my first thought was .... they tried handling payments in the past and that didn't work out so how can we trust they can do it right this time?

Do you really really want Ebay to have their fingers in your bank accounts? How much financial information will they be requiring?

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I would imagine bank account and ss#. Regardless, it means those that haven't already set up a separate bank account need to do it.

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I can't. I bank at a state employees credit union ... I had to jump through hoops and get PayPal Damon's help when I set up the PayPal account I have to get around some "restrictions".

Guess I better get in gear and list a bunch of stuff and try to get rid of it all before this comes into play because I don't have a bank account suitable to give them! LOL