More details are emerging about the new eBay and Adyen payments system that will be rolling out over the next few years. eBay will be distancing itself from PayPal when the operating agreement expires in 2010 and moving to a system that mean the marketplace will be “intermediating” payments on behalf of sellers.
eBay execs have been talking more about the new upcoming system and this comment from an online chat will be of interest:
With eBay being at the center of your relationship in the future inclusive of payments, you will manage your funds through eBay. So you will have visibility to the funds and to proceeds of your sales. We strive to provide transparency about where those funds are along the process, and generally we will be moving those funds directly from eBay to your bank account.
That is where we feel direct access to your funds is most beneficial to all of you as sellers. We will of course continue to explore other mechanisms that will allow you to have access to those funds beyond going directly to your bank account and welcome input on how you would like to access your funds.
But we know gaining access to those funds is really important. That’s your working capital, that’s how you run your business day to day. And we’re going to make sure there is full transparency and that we are working to get those funds to you as expeditiously as possible.
– Alyssa Cutright, Vice President of Global Payments, eBay.
Probably the most critical concern, and one which doubtless has yet to be settled even internally at eBay and Adyen, is what payments will cost when eBay “intermediates” them.
Obviously with the PayPal system, you pay your eBay marketplace fees and then, on top, would be the PayPal fees. And such ‘double-dipping’ consistently felt incorrect to Tamebay. There is scope here, with an integrated system, for fee reductions. Why should eBay, when it processes fees itself via Adyen, also take a payments processing fee? The likes of Amazon and Etsy already do intermediate payments and don’t take a specific extra fee.
Another question relates to the speed of disbursements: PayPal offers great speed and flexibility. There is no indication there yet that eBay payments will be similarly efficient.