eBay invite sellers to eBay Payments Beta starting in September
eBay have started to invite sellers to register for an eBay Payments Beta trial which will replace PayPal as the default payment option on the marketplace in the future. The beta trials will begin in September and it’s expected that some eBay staff will be using the system ahead of the public beta trials.
The email has a number of interesting points which will doubtless leak out as soon as the trials begin.
- eBay will consolidate payments and invoices into a single account
- Payouts will be made daily to your bank account
- eBay are exploring faster ways to get paid with partners
- All fees will be on a single eBay invoice – this will include payment fees
- Those who take part in the Beta will get special discounted pricing for early opt in
- eBay will automatically update all existing listings to add eBay Payments as the default payment option
eBay email to sellers invited for eBay Payments Beta
What are the key benefits?
– One place to sell and get paid: manage all your selling and payments needs from within your eBay account.
– Simpler bills: all your fees in one place on your eBay bill.
– Consolidated pricing: all your fees in one place on one bill, plus special pricing for early opt-in*.
– Daily payouts: direct to your bank account. No need to transfer funds between accounts.
– New ways for buyers to pay: such as mobile payments with Apple Pay.
– Better protection: claim and chargeback seller protections provided by eBay, with one place to manage disputes.
– More control: accept your exclusive invitation now to get a head start on adapting your business to selling and getting paid on eBay.
What will eBay’s fees be?
In September 2018, you will receive an invitation to participate in our limited initial launch. To access the offer, you’ll be prompted to sign in to your account for more information and specifics like fees and additional frequently asked questions.
How will I access my funds?
All cleared funds will generally be paid in a daily batch and directly to your bank account, regardless of how your buyer chooses to pay. From your bank account, you can access your funds directly, with no need to transfer funds between accounts. In addition, we’re working with our financial partners to enable even more options for speedy access to your earnings.
What will I have to do to sign-up?
Your invitation in September will take you to a sign up page for a quick and easy enrollment process. After you enter a few personal details like preferred bank account for payouts and your social security number to verify your identity, we’ll manage the rest. We will automatically update your existing account and listings and transfer your existing listings to the new payments model. For new listings, we’ll ask you to use Seller Hub’s listing page and any existing listings APIs you use.
Genuinely worried that this will ONLY benefit eBay and nobody else.
It will be spun out as full of benefits but will affect our cashflow and will probably end up costing more than the current set up.
Why else would they do it.
“Payouts will be made daily to your bank account ” How will that effect cash-flow?
Well that blue the “myth” out of the water, “eBay will hold your money for as long as they can”, I don’t actually want my payments going into my main account on a daily basis so I guess I will need to set up a separate account to hold the transactions.
Put my name down….
I don’t want daily payments to my bank account either, but if that’s how it is, then cash flow isn’t one of the issues.
I’ll be mostly interesting in what fees they want to charge. Paypal standard fees would be easy to beat, but will ebay beat or match them, and for how long? My guess would be that in time, ebay seller fees would increase to include the payment handling, turning into an all in one package much like Amazon do. If they do that, then they will look at Amazon fees for price guidance. A 15% all in one selling fee could be just around the corner.
As for ‘why else would they do it’ aside from obvious financial benefits, I think control of seller/buyer comms will be a big factor. The crackdown on messages including potential contact details shows how much ebay fears off site sales. By taking control of payments as well as messages, there’s no need for the seller or the buyer to know email addresses at all. They’ll want to reduce off site sales to the same sort of level as Amazon, very very low.
payments going in daily does not mean they’re that days takings.
ebay may decide you’re going to have a month long gap, then you’ll be paid daily for the sales you made this day a month ago.
that will affect cashflow.
@James Your right, it does not mean that it will be paid in daily on the day of the sales, it could be a month later or a year later.
But it is always better to moan about something before it happens as if it doesn’t then we don’t get a chance to moan.
On the plus side, with everybody moaning about how bad sales are on eBay, they won’t have much money to hold on too and cash flow, if your selling on other markets, should not be a problem.
As long as we get paid were happy
Who knows it could be an improvement
On the 180 days chargeback piddle taking paypal condition
Has there been any mention of an equivalent rate to PayPal micropayments for those selling lower value items?
They’d have to do something like that, for the musicmagpie type sellers that they will want to bend over backwards for
Hang on…. if they deposit money into my bank daily that means i get charged a transaction fee every time by my bank. At the moment i leave it in papal and withdraw it once a week. So costs me more already.
As for the rest…. well i guess it’s wait and see.
Having just had the most frustrating experience which included a considerable amount of ‘misinformation’ (in plain English that is LIES) I would welcome the alternative and would give it a go.
For no better reason than PayPal was ‘protecting my interests and account’ I have been denied access to a considerable amount of funds – funds that I was relying on, for 72 hours. This despite staff agreeing the account was in good order and it had caused intolerable amounts of inconvenience and embarrassment. Twice the account was ‘unlocked’ so that I could proceed to get MY money both led to delays after which I was told actually we can’t override the 72 hour requirement!
I asked for a senior manager to call me back to resolve this urgently – amazingly the call back system is that magic number 72 (hours again). Effectively this gives them the exit strategy that the matter is resolved and I can have access to MY money – brilliant.
Any alternative to PayPal seems to be at least worth trying – a more incompetent, dishonest, inadequate, unhelpful and untrustworthy organisation I am yet to encounter