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Paypal used to be part of ebay, then they diverged but remained connected. Now ebay has announced they are creating a new managed payment scheme and bypassing paypal. Apparently using Square capital. Why is this happening How could it happen? Why wouldnt these two companies continue to work together to achieve what ebay wanted without Square. It impacts our business loans big time. This is being slowly moved into place but surely there needs to be a forum here to discuss this.
I sell on ebay once in a blue moon. Are you sure it's Square, I think it's Adyen. I went to buy some filters for my tractor yesterday and seller doesn't accept paypal but does accept the new ebay managed payments. I'm looking at it going WHAT?? Apparently 5% of sellers on on this now and can't return to accepting paypal saying paypal will be available next summer. That's ridiculous. The wiki on Adyen says they are taking over all ebay payments by 2021. So why would they go back to having paypal. They are lying. Ebay is bribing sellers by 0.2% less payment fees vs paypal to join in. But once you join you can't go back. Those sellers who joined to see less fees are seeing 50% less sales and are **bleep**. I refused to buy from that seller and made it clear to them this is the reason. Carl Icahn or whatever that stupid idiot is who started all this in 2014 is crazy.
Right now sellers and buyers are looking to get off ebay in frustration.
The new system also doesn't integrate with accounting cloud services such as quickbooks either so sellers who do a lot of volume can't keep their books straight.
Ebay is really short-sighted with this beta test that's IMHO a FAIL.
I'm pretty **bleep** off about this and surprised this is the first I've heard about this garbage.