Ebay to phase out PayPal as primary payment method

[AlienLifeForm]

Just got this email. I don't know how to feel about it - I guess we will all find out.

eBay is happy to announce plans to further improve the customer experience by intermediating payments on our Marketplace platform. In doing so, eBay will manage the payments flow, simplifying the end-to-end experience for both buyers and sellers. We have signed an agreement with Adyen, a leading global payments processor, to become our primary payments processing partner. PayPal, a long-time eBay partner, will be a payments option at checkout for eBay buyers.​

You do not need to take any action at this time. The transition to full payments intermediation will be a multi-year journey.​

Over the past three years, eBay has transformed its business to drive the best choice, most relevance and most powerful selling platform. Building out our payments capabilities is the next step in that strategy.​

Payments intermediation will bring significant benefits for eBay sellers. You can expect a simplified pricing structure, more predictable access to funds, and most sellers can expect their costs of payments processing to be reduced. We’re also working on ways to provide sellers a central place to track and manage their business, which can soon include payments information.​

By offering buyers more choice in how they pay and expanding payment options into more geographies, eBay believes sellers will be able to reach more buyers and improve conversion.​

The transition to full payments intermediation will be a multi-year journey. eBay will begin intermediation on a small scale in North America starting in the second half of 2018, expanding in 2019 under the terms of the Operating Agreement with PayPal. In 2021, we expect to have transitioned a majority of Marketplace customers to the new payments experience.​

Again, you do not need to take any action at this time. As eBay gets closer to the initial phase of its intermediation efforts, we will share more details about this process and next steps for sellers. In the meantime, please read the eBay Inc announcement for further information. For any immediate questions or to share feedback, please email [email protected].​

We’re looking forward to what’s next, and to getting there with you.​

As always, thank you for selling on eBay.​

Bob Kupbens​ Laura Chambers ​

VP, B2C Selling​ VP, C2C Selling​

 

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[1320]

Didn't see this coming! A lot of us complain about Paypal fees but we have learned to trust them and service is very good. I think this may be the change that ebay has to make to begin accepting crypto currency....

 

[Ammoman]

I got that same email. I will take a wait and see attitude for now.

 

[vpnavy]

I searched Google and found EBay Rises to Record High on Shift to Adyen.

 

[kcm]

Well, I ain't never been much of a puzzle figure-outer, so this new "crypto"-currency stuff....naw, I jus' ain't gonna mess with it.

 

[ecmjamsit]

Adyen...sounds like Add Yen. I won't get anymore political than that.

https://www.adyen.com/

 

[trdhrdr007]

Probably another change I won't be happy with. I'm not big on learning a new way to do things and every time they change something it has a ripple effect. I've got a system for keeping up with inventory, sales, & expenses all tied in with information available on PayPal. Not the best way to do things but workable. Changing to a new payment system adds another layer of complexity.

 

[cyberdan]

I got the same letter. I know ebay used to own paypal. maybe there was hard feelings when they split. maybe there was a contract that ebay had to continue with them until 2021. But no matter what ebay will be getting more money, I am sure.

Here is a couple things I found on:
https://www.ebayinc.com/stories/news/ebay-to-intermediate-payments-on-its-marketplace-platform/

For sellers:
Lower Costs and More Control of Their Economics. Most sellers can expect their costs of payments processing to be reduced after they transition to eBay’s intermediated payments model, and benefit from a simplified pricing structure and more predictable access to their funds.

For Buyers:
An Integrated Checkout Experience. eBay will manage the entire checkout experience, delivering a more streamlined experience for consumers.

I also saw this (I was just guessing on the contract, I was right)
Additionally, eBay and PayPal have aligned on terms to offer PayPal as a way to pay at checkout on the eBay intermediated model until July 2023. PayPal will remain an important partner to eBay.

I actually like paypal. I used to have a real credit card accepting machine (keypad and card swiper machine) Every month this company would come up with new fees or penalties and add them to my bill. I would never guess what each order would cost till I got my bill. paypal is straightforward and has never done this.

 

[flashyace]

I will be waiting for the IPO

 

[Drew32215]

Last week I purchased a new detector through a dealer on eBay and it had option to pay via CC. PayPal does charge fees and perhaps this is a good thing for everyone.

 

[trdhrdr007]

According to eBay fees for Adyen will be about the same as they are for PayPal....which is about what a credit card company charges a seller. There ain't no free lunch.

 

[cyberdan]

option to pay via CC. PayPal does charge fees and perhaps this is a good thing for everyone.

yep and well worth it. 2.9% plus 30¢

They take the fee right away and put $$ in my PP account. I can then transfer to any bank account I have set up.

When I sell on feeBay I know cost of doing business is 13% and I set my price accordingly.

 

[Drmad7]

I’m old enough to remember when Paypal was X.com and was one of several ways to pay for purchases on eBay. Then eBay bought them and made them the de facto payment process. I look forward to having at least different ways of accepting cash as a seller on eBay. Like the old days (early 90s). I remember waiting for and sending money orders for stuff!