advertisement
Forums

The Forum is sponsored by 
 

AAPL stock: Click Here

You are currently viewing the Tips and Deals forum
eBay ditching PayPal
Posted by: deckeda
Date: January 19, 2021 02:18PM
Well, not selling them off necessarily, but absorbing the payment function.

From today's email:

eBay now manages the end-to-end selling experience on our marketplace, including payments.
This means:
•No more PayPal payment processing fees.
•You get paid directly to your bank account, not your PayPal account.
•Most sellers will pay the same or less than before.**
Update your account details by February 28, 2021 to continue creating new listings.

FAQ’s:
Why is the way I’m getting paid on eBay changing?
We are updating the payments experience on eBay to enhance the buying and selling experience on the marketplace. We believe this is an opportunity to deliver a more seamless experience for both buyers and sellers, while offering a greater choice in payment and payout options.

Is there anything I need to do right now?
Please update your account details, including adding your bank account information, by February 28, 2021 to ensure there are no interruptions to your ability to create new listings and avoid potential payout delays. Learn more and get started here.

How are my fees changing?
Your eBay selling fees and expenses will be automatically deducted from your earnings before you get paid. The remainder of your earnings will go directly to your bank account, not your PayPal account. You'll no longer have to pay PayPal payment processing fees and no more separate monthly fee payments. Examples of eBay selling fees include: insertion fees, listing upgrades, and store subscription fees.

*As it relates to funds settlement.
**Savings based on annual total sales volumes, and comparisons of (a) prior eBay final value fees plus typical 3rd party payment provider fees, with (b) new eBay final value fees (without any 3rd party processing fees).
Options:  Reply • Quote
Re: eBay ditching PayPal
Posted by: hal
Date: January 19, 2021 02:37PM
you can still use paypal to pay for an item... this has been a couple of years in the making. So far, it's been going well (I switched to ebay payments in the summer) and overall costs are down a tiny bit, but I liked it the way it was before better because paypal had exceptional CS while ebay's is on the other end of the spectrum.
Options:  Reply • Quote
Re: eBay ditching PayPal
Posted by: pRICE cUBE
Date: January 19, 2021 02:40PM
Wait, what? Doesn't ebay own PayPal? Am I not keeping up?



Ways to improve web conference image and sound quality. [forums.macresource.com]


Options:  Reply • Quote
Re: eBay ditching PayPal
Posted by: hal
Date: January 19, 2021 02:46PM
Quote
pRICE cUBE
Wait, what? Doesn't ebay own PayPal? Am I not keeping up?

you're not keeping up - ebay bought paypal, then sold it off and then created their own payment system pushing paypal out.
Options:  Reply • Quote
Re: eBay ditching PayPal
Posted by: PeterW
Date: January 19, 2021 02:51PM
The two companies split in 2015 but had a five year agreement that kept PayPal as their payment system. That is up now so PayPal is out.
Options:  Reply • Quote
Re: eBay ditching PayPal
Posted by: pRICE cUBE
Date: January 19, 2021 02:53PM
Quote
hal
Quote
pRICE cUBE
Wait, what? Doesn't ebay own PayPal? Am I not keeping up?

you're not keeping up - ebay bought paypal, then sold it off and then created their own payment system pushing paypal out.

Why would you buy a company to obtain the know how to do something and then create your own. Why didn't they alter PayPal to fit what they needed? Seems like money wasted to me.



Ways to improve web conference image and sound quality. [forums.macresource.com]


Options:  Reply • Quote
Re: eBay ditching PayPal
Posted by: deckeda
Date: January 19, 2021 03:08PM
PayPal was always more about the larger online payments market than just eBay transaction. I am not surprised eBay took the portion they needed to do it in-house, so that they could get a good payday from selling PayPal (I didn't realize they had sold PayPal.)
Options:  Reply • Quote
Re: eBay ditching PayPal
Posted by: Acer
Date: January 19, 2021 04:18PM
If they cut the transaction fees then I'll happily accept the new system. eBay + PayPal reaalllly cut into the margins.
Options:  Reply • Quote
Re: eBay ditching PayPal
Posted by: voodoopenguin
Date: January 19, 2021 04:30PM
Quote
Acer
If they cut the transaction fees then I'll happily accept the new system. eBay + PayPal reaalllly cut into the margins.

They are raising the transaction fee but overall, if you use their paying system you will save a very small amount. Unfortunately you will not save if you get paid by other methods, even cash.

Paul



Options:  Reply • Quote
Re: eBay ditching PayPal
Posted by: decay
Date: January 19, 2021 07:25PM
Seems like Apple and Microsoft (among others) also buy companies to incorporate their technology or IP into their products and processes.



---
Options:  Reply • Quote
Re: eBay ditching PayPal
Posted by: Janit
Date: January 19, 2021 07:35PM
It remains to be seen whether their accounting format/record keeping is as easy to use as PayPal's has been. What a pain!
Options:  Reply • Quote
Re: eBay ditching PayPal
Posted by: weapon
Date: January 19, 2021 10:14PM
Managed ebay payments is a mess. It is so hard to see what is happening in the account. Payment and transaction numbers have no linkage. You just receive notification (- fees). There is no way to see what actual item the payment was for as the link from the deposit is not directly linked to the sold item.

If you have a successfully store, they will force you to join MP so they can get the cut. Eventually everyone will be on it. There is no choice now. MP has to be linked to a bank account unlike paypal which could create a virtual account to store money.

There is no longer instant payment, you sell item, the customer pays and a few days later the payment goes through, then you receive a message that the money is deposited to your bank account. This is after you are required to have sent your item. I switched my account to 5 days handling so that the money is deposited first before shipping. The fees are just about the same, the only group that improved with this is eBay. Improved their bottom line that is. Don't believe the BS.

One thing I noticed when I was forced to change over was that my store sales dropped to almost zero for 6 months. I was a consistent $500-$700 a month seller. Then zero - $50. No other change happened, just the MP. It was like my store disappeared (I could find my listing but it seems like buyer could not). I have another account that is not on MP and so I switched a bunch of items over to it and instantly got sales. Same items, same prices completely different results.

So I cancelled my store and went back to the base account (the free account now gives you 200 listings [pandemic result] so that is almost the same as the old ground level store). The free account also gives you the free ability to set times for your listings (this is super helpful) and free buy it now. Those items are a charge if you have a store (makes no sense to me).

The funny thing is after I cancelled my store (Dec 30), my sales went up and I am nearly back to my original sales level. This situation may vary for different users but this is what happened to me.

I am now going to build my own squarespace webstore and only use the free ebay account(s) to make initial auction sales and then drive return buyers to my website for static priced purchases. My webstore will eventually have 10x the options (rock posters) and cut ebay out of the transactions.
Options:  Reply • Quote
Re: eBay ditching PayPal
Posted by: pdq
Date: January 20, 2021 12:20AM
Wasn’t Paypal Elon Musk’s first company?
Options:  Reply • Quote
Sorry, only registered users may post in this forum.

Click here to login

Online Users

Guests: 82
Record Number of Users: 186 on February 20, 2020
Record Number of Guests: 5122 on October 03, 2020