This was actually a moment in the making since eBay announced last year that they would be breaking away from using PayPal as the official payment system for the auction platform (a plan that has been in the works since 2018). In fact, it was supposed to happen last year but likely got delayed because of everything the world has been going through.
An email has been making its way to eBay users, informing them of the new change. Mostly, a requirement to update their account information by adding the details of the bank account they’d like to receive payments to.
eBay signed into an agreement with Adyen back in 2018, to become the company’s official payment processor. Adyen will be the system on the backend. So the user will never leave eBay and may likely never even see the name (Adyen) during the process as it will all be branded as part of eBay’s checkout system.
PayPal is still going to be offered as a “secondary” payment option (along with options like Google Pay and Apple Pay), and will likely remain so until 2023 where eBay will then decide on completely dropping PayPal as an option or not (sounds like they will be as of now). Allowing users plenty of time to kick the habit and get adjusted to the new process.
This will bring the entire checkout experience into one place. No longer having to leave eBay, even for the briefest of moments. From adding to your cart to making your way to the order confirmation. From listing an item to sell to being paid and printing the shipping label. Everything can be handled on eBay’s platform.
eBay is giving users until May 28 (2021) to update their information so that their accounts are ready to go as things transition.
This will likely be a noticeable blow to PayPal as eBay has been in such a close relationship with the company since 2002. This has likely become one of its largest footprints in the timeline of things.
As a buyer I prefer to have my money deducted from my bank account via paypal and not use credit card. Guess i will be opting for another way to get things I want.
Looks like Ebay finally found a way to fix it til it’s broke. ?
Well I use PayPal for my protection, so now they don’t want to allow PayPal as payment I won’t be shopping with them anymore
I have been an ebay customer, both as buyer and seller, for more than 20 years. It has been generally a good relationship, albeit fraught with an occasional hickup. That was until yesterday.
I typically carry 20-30 listings on ebay. In the past, when those items sold, i would get an email from ebay advising me that the item sold and that the funds were on deposit in my PayPal account. Immediately. Once that confirmation was received, I would prepare the item for shipment and take it to the post office.
Now, I am told by ebay’s customer service, I must wait for payment until one day after ebay receives delivery confirmation. Given the current sorry state of the USPS. that could mean a delay in payment of 3-10 days or more, during which ebay holds the buyer’s money. THis is a nice scam for ebay which, not unlike a bank holding a deposit for several days so they can earn interest on those funds, can now earn interest by holding buyer funds.
As I told several ebay reps yesterday AND as I explained to my buyer, I will not do business that way. If I told Target or Walmart of Kohl’s that my payment would be escrowed for several days, they would laugh me out of their stores.
Bottom line is I will be delisting all my items on ebay and moving to Amazon, which is not a perfect option but a convenient one at the moment. I suspect thousands of other ebay sellers will be doing exactly the same thing. This is very sad because it has been a good working relaitonship for the past 20 years. I am afraid this signals the downfall and eventual decline of another one-time successful entrepreneurial enterprise. I cannot imaging why this horrible decision was taken, but so be it.
It it ain’t broke to begin with….
“Not unlike?” Psh, It’s EXACTLY what they’re doing! Sickning behavior on their part. >:((((((
& that’s the real cherry on the fecal sundae – Amazon’s ungodly shipping fees. We’ll all be paying them, now, because what kind of knucklehead is gonna hang with Ebay & get hooped like that?