Invitation received from eBay to sign up for managed payments

[shop_giftworthy]

Has anyone else signed up for managed payments? If so, what do you think of it?

I received the invitation in the mail, but after reading about it, I'm not sure I want to do it. The lower payment processing fee than Paypal sounds good, but why would it take eBay 2-4 business days after a customers pays to deposit the money in my bank account, when Paypal does it instantly and I can transfer it the next business day free or instantly for 1%? And I don't have to transfer the money out of Paypal, I can use my Paypal debit card. 

I like the idea of lower fees, but I don't like lag time when it comes to my money. But I don't make millions here, so, there's not a lot of cushion in the bank account on a given day... I also offer a lot of products on a special order basis (not dropshipping), and I pay for the products when I order them after the customer pays me, so I think a 2-4 day lag would interfere with that.

 I also noticed their info states that ALL ebay sellers will eventually be "migrated" into their managed payments. I don't see the benefit, except to eBay. Other than it would be nice for the customers to pay on the same site they buy from. But even Paypal allows them to use different credit card types and bank account transfers, so I don't see why ebay says they're offering buyers more payment choices.  They won't let buyers pay with paypal until summer of 2019 if you migrate your store to managed payments, which makes no sense. Why not wait to roll it out until they're hooked in with paypal? They're going to confuse a ton of buyers. Buyers also use Paypal Credit as a way to pay for ebay purchases, and they won't be able to until 2019.

Anyone else try it? I think I'm going to hold off. As long as possible. If you tried it, can you get back out? Just curious.

[newview]

Run away ... fast.

The consensus opinion so far has been that as Managed Payments as it is right now, with NO PayPal offered on any of your listings, is essentially the Kiss of Death to sales on eBay.

[myjunqueyourtreasure]

You can check out some of the threads on the Payments board.

Me? I won't use it until I'm either forced to or forced to leave entirely.

[city*satins]

Definitely not interested.

1. no Paypal

2. no means to do partial refunds for combined postage

3. still need to keep $ available for Paypal in order to pay for labels

4. nearly impossible to get out of once you opt in

[labs118]

Display the below link to the Payments board, read the Threads about it
Many are saying that since Paypal can't be used buyers are backing out of the purchase & they are losing money. 

Do you use GSP for international? if so that's out the window also so you lose your international sales or have to deal with doing your own shipping for them

Paypal you can go right into and issue a partial refund to your customers, ebay wants you to have your buyers file a false return so you can offer a partial refund


https://community.ebay.com/t5/Payments/bd-p/payments-db

[moms**art**window**]

One seller said they were doing well in one post (that post was in weekly chat he may have been invited to participate) out of the many read (they sell t-shirts high volume seller) here is an article that answered many of my concerns,from USA Today article on Feb. 2018 about eBay managed payments:
Shares of PayPal sunk 7% Thursday after its former parent revealed it would no longer use the payments service as its primary processing partner. Along with its earnings report after hours Wednesday, eBay announced a deal with processor Adyen to become its primary partner. The company said PayPal will continue to remain a payments option for eBay buyers during checkout, at least for a few years. When it starts EBay said it will start the transition in payments processing later this year, with the majority of its marketplace customers using the new partner by 2021. The e-commerce pioneer said the change will lead to lower costs for sellers, along with more options and a more integrated checkout experience for buyers. Netherlands-based Ayden also provides payment services for Netflix, Spotify and Uber. Ebay shares rose 15% Thursday after a better-than-forecast outlook. "After careful consideration, we believe that we can offer a more seamless experience while giving buyers and sellers more choice for payment and payout options," President and CEO Devin Wenig said during eBay's quarterly earnings call. What about PayPal? EBay said PayPal will remain "an important partner," with a deal keeping the service as an option to make purchases in the marketplace until July 2023. The online marketplace acquired PayPal in 2002,spinning off in 2014, partly due to pressure from activist investor Carl Icahn, who had long advocated for a split of the two companies.

[moms**art**window**]

if one could get a silent partner to open another shop, i could see how you could have your cake and eat it to,one shop with, one without maybe would work out good

[annasunicorns]

Will you save enough to make minimum wage, per hour, on the extra time its going to take to enroll in and figure out the system?

Include the time to coalate data since they do not have the same reports that paypal does, and cross advance fund shipping costs because you will have to pay for shipping out of paypal while the money sits with ebay. Include the time to set up a separate bank account. Include the time to read all the user agreement including the part where if ebay needs to go to court and they decide that doing so is on your behalf you can be charged the attorney fees. Include the time to screenshot or print out copies of the help pages because those keep changing. And on and on. How many free hours of skilled labor is each seller providing ebay with by doing this? They are not even fully planning to roll it out on us all until 2021.

[myjunqueyourtreasure]

while giving buyers and sellers more choice for payment and payout options," President and CEO Devin Wenig said

What payout options would those be? So far all we've heard is can't direct payouts to PayPal (as it's not a bank) and you must have a bank account to receive payouts. Just don't see the choices somehow.

[moms**art**window**]

i hope after beta it will be an option "i hope" that 2023 date at the bottom caught my attention,i hope someone will chime in and say it's the greatest thing in the world "i hope" but that 2023 looks pretty solid "i hope"

[dbmm-media]

 Just say no!!

[bubbleman2010]

Paypal at least tossed out a ten dollar bone to get the migration started. I think ebay could get it rolling now with a five dollar bone....

[bosmingfarg]

It's messed up. Ebay is complicating our lives and loving the hell out of it. Paypal is good, but their 180 day return policy is nothing short of maniacal. I am not a masochist. I will not bend over for these corporate worms any longer. Holding onto sellers' money is wrong. Adyen can go take a flying leap.

[bosmingfarg]

even a bilge rat would not put up with these new policies on a sinking ship.

[bailbondlady5]

I don't know if you got your answer about signing up for Managed payments. If not RUN as far as you can until they force you to sign up. It's horrible to get your money. They send it when they feel like it and then it takes about 4 days to get it in the bank after that. They have been holding $200 in my 'not ready for deposit' account for 6 days so far. I just sold another weeks worth and am holding my breath because I need to be paid. Also you have to ship out items and pay in advance for the shipping! And there's more,,,The final nail is once you're in you cannot get out period. Any other questions feel free to get a hold of me 🙂