eBay

bruceh1409 · ‎03-11-2022

We have been waiting for this to materialize for a few years now

(Investors heard about a new payments feature - eBay’s first digital wallet. Beginning next quarter, sellers will be able to store sale proceeds in their digital wallet, getting near instant access to use those funds to shop on eBay. This is the ultimate eBay flywheel and will power the future of our “sell to buy” shoppers. )

Now we can pay for purchases on eBay with our funds from sales instead of our bank account

Thank you eBay staff for following through with your promises & for listening to our needs

Just another example of if you have an idea & let eBay staff know about it they will pass it on

my-cottage-books-and-antiques · ‎03-11-2022

@stainlessenginecovers Actually, they've been hinting that it would come as soon as MP was rolled out to everyone. And many of us assumed it would come eventually, because it's in ebay's best interest to do this if at all possible, since it can increase sales velocity on the site.

However, I suspect many who left in a huff over MP would have left regardless. Remember, many of them left because they refused to give up their bank info etc. I don't think the promise of wallet capabilities would have made a bit of difference.

I also think as this capability becomes better known, plenty of people will use it to buy stuff on the site, just as they did with PayPal.

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dbfolks166mt · ‎03-11-2022

I prefer to use my CC to purchase on eBay that way I get the 5% cash back on my purchases. I also am not going to leave cash sitting in eBay's wallet for them to earn interest on. PayPal still does this. Maybe a good idea for some but not much benefit there for me from my perspective.

tex-421 · ‎03-11-2022

I’m not sure the roll out is next quarter. The press releases seem to indicate that development of the wallet is making progress, but a rollout date hasn’t been determined.

collectfest · ‎03-11-2022

Need to see the details to be honest. Could be a nice option, do not know at this point.

One (of many) question, once I put money in the wallet and decide I want the money sent to bank, can I, is there a fee, is it instant?

luckythewinner · ‎03-11-2022

@bruceh1409 wrote:
Just another example of if you have an idea & let eBay staff know about it they will pass it on

I don't think the staff passed anything along; I have to imagine this was the plan all along.

Balance accounts are much more complex, and come with an additional set of regulatory hurdles.

eBay may be maddening at times but they are not stupid.

luxgoods · ‎03-11-2022

When and if ebay rolls this out, hold on to your hat. Every time ebay implements something new, it usually has numerous glitches because they rely on us to tell them what is wrong. Typical ebay

dhbookds · ‎03-11-2022

@collectfest wrote:
Need to see the details to be honest. Could be a nice option, do not know at this point.

One (of many) question, once I put money in the wallet and decide I want the money sent to bank, can I, is there a fee, is it instant?

According to what I heard yesterday.....the options for payout will expand to biwkly, every day (your choice of day).....and later (time frame not specified) instant (within 30 min) payment to a debit card for a "small" fee (not specified). As always, devil is in the details....but certainly more choices will be available. I doubt sending to the bank is going to be instant availability at the bank.....as they have to process it.......

katzrul15 · ‎03-11-2022

@luxgoods wrote:
When and if ebay rolls this out, hold on to your hat. Every time ebay implements something new, it usually has numerous glitches because they rely on us to tell them what is wrong. Typical ebay

Yes. Always.

And what convenience options have cost/fees? Hope they timely add staff for all the changes.....

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metaltech1 · ‎03-11-2022

Will the "digital wallet" be an option.......or mandatory like Managed Payments?

I do not have the greatest faith that eBay holding all monies from sales will go smoothly. And, the fact that if eBay wants to boot you off the platform, they will be holding ALL your money.

dhbookds · ‎03-11-2022

@metaltech1 wrote:
Will the "digital wallet" be an option.......or mandatory like Managed Payments?
I do not have the greatest faith that eBay holding all monies from sales will go smoothly. And, the fact that if eBay wants to boot you off the platform, they will be holding ALL your money.

It's an option..............

vintagecraze50 · ‎03-11-2022

So clarify what this means. Does this mean that ALL sales proceeds go to them in their digital wallet or do we choose digital wallet or bank account. Yes, if all goes to digital wallet then ebay is THE BANK.

vintagecraze50 · ‎03-11-2022

AND , does THE EBAY BANK pay interest? LOL!

vintagecraze50 · ‎03-11-2022

IF THEY BECOME THE BANK then where’s the interest. LOL!!

vintagecraze50 · ‎03-11-2022

GOOD QUESTION.

downunder-61 · ‎03-11-2022

@vintagecraze50 wrote:
AND , does THE EBAY BANK pay interest? LOL!

Did Paypal?

Genuine question,I always hated PP and never used PP funds to purchase - always sent buyer funds to business bank account ASAP, so no idea if PP did pay interest on funds that were left in there.

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