What is Adyen?

[fabreedwar]

While reading some of the links that were posted in the Product Based Experience

discussion thread, I came across talk of a new payment processing program called Adyen. I'm not sure what it is. The article stated that the program will be implemented within a year of the 2020 termination of ebay's current contract with paypal, and that the actual drop dead date when all sellers will have to enter the program will be announced sometime within the next 29 months.

What is Adyen? How will it work? Are there any links around that give detailed information about it?

[fashunu4eeuh]

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

[castlemagicmemories]

At the top of your thread, you will see a search bar that says, this board.

Put in the word Adyen.  Enter

Many threads on this.  

[castlemagicmemories]

You can also do an internet search for Adyen.

[slippinjimmy]

Search the boards, there are dozens of threads from back in February when this was announced.

Basicaly Adyen will be processing eBay payments just as PayPal are doing it now.

BUYERS will still be able to use PayPal as a payment method but all sellers will recieve their payments via Adyen -> eBay -> Seller.

Buyers will be given much more choice as far as where they send money FROM. For buyers there will be basically no change, for sellers there may no longer be the "instant" reciept of funds, funds will probably be made available to sellers on a daily or weekly basis.

The fine details are not known at this time, more information will be available on late 2018 and the switch will start happening in 2019.

Lots of freaking out in those older threads but a lot of it is "the sky is falling" because this new system will be very similar to the systems used on Amazon, Etsy (also use Adyen) and most other Marketplace type venues.

[loveyourimagination49]

oops sorry wrong link

[fabreedwar]

Thanks for those links. I'll check them out. I could live with an Amazon style payment processing system, (I actually sold books there for a while, and stopped a few years back when they wanted my ssn). My big worry will be about the payment processing fees. One thing about paypal is that their fees have been pretty steady.

[slippinjimmy]

eBay has (vaguely) stated that payment processing fees will be lower.

My expectation is that they will but the difference will be very small.

One thing that MIGHT happen is that the surcharge for foreign payments might go away or be reduced.

Bottom line is that the payment processing business is VERY competitive so any changes in either direction are likely to be small.

[annindallas]

No, slippinjimmy, it is not at all like Paypal.

You give your financial information to Paypal. Ebay doesn't have it.

You do not give your financial information to Adyen. You give it to ebay.

Ebay then instructs Adyen. You will never talk to Adyen.

Some people, like myself, made it clear that there is no way I will give ebay unlimited access to my bank acount, nor limited access, nor any access.

Ebay and Paypal then extended Paypals involvement here another three years, I believe. Some kind of extension.

[tiramisu41]

@fabreedwar

As noted upthread, Etsy uses Adyen for payment processing.   Here's a link to how much they charge Etsy sellers for payment processing: https://help.etsy.com/hc/en-us/articles/115015628847-Seller-Fees-for-Etsy-Payments

I wouldn't be surprised if eBay's arrangement will be similar.

[fabreedwar]

livadia, thanks for that link. Unless I'm mistaken, the Adyen program will be the things that gets me off ebay (I thought the only thing that could get me to quit was forced worldwide shipping). But if ebay's payment processing is going to require ebay to have direct access to my bank account, then forget it. I like the paypal system...I keep a healthy balance, so any refunds or deducted from my paypal balance, and so are my monthy fees to ebay. If this new policy elimintates that kind of a buffer to my money, then I'm gone. I'm just glad they're giving us a few years before forced implementation. I'll get rid of my inventory before then.

[fabreedwar]

I suppose another solution other than quitting would be to establish a new account in a new bank and just keep a pidly amount of money in it.

[fabreedwar]

Either way, I'm going to be a listing fool for the next couple years to get rid of my stuff, will probably net more money in the next two years then I would have in 5 years if I'd kept my normal pace. I guess I needed something like this to light a fire up my butt.

[southern*sweet*tea]

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@fabreedwar wrote:

I suppose another solution other than quitting would be to establish a new account in a new bank and just keep a pidly amount of money in it.

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This is what you should be doing ANYWAY, no matter where you sell and no matter who processes the payment. I like Paypal, but no way in Hades do I give them my main banking info. They have my "pass thru" account info.

I transfer money from PP into my pass thru account. When it hits that account, I IMMEDIATELY transfer it to my main account that nobody has access to except me. 

No site on the internet should EVER be given your main banking info. I don't care who it is or how "trustworthy" they are.

[slippinjimmy]

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@annindallas wrote:
No, slippinjimmy, it is not at all like Paypal.

You give your financial information to Paypal. Ebay doesn't have it.

You do not give your financial information to Adyen. You give it to ebay.

Ebay then instructs Adyen. You will never talk to Adyen.

Some people, like myself, made it clear that there is no way I will give ebay unlimited access to my bank acount, nor limited access, nor any access.

Ebay and Paypal then extended Paypals involvement here another three years, I believe. Some kind of extension.

---

From 2002 until 2015 PayPal was a wholly owned division of eBay. Anyone who had a PayPal account during that period was giving their information to eBay.

Neither PayPal nor eBay EVER had "unlimited" access to your bank account, they ONLY had the access YOU authorized which would be DEPOSITING money in your bank account under YOUR instruction.

division