Ebay Managed Payments

Donegal
Contributor
Contributor

I have been informed this morning by Ebay UK that they will be starting to move sellers onto the Managed Payments system and that by the end of 2020 all payments will be paid directly into our bank account and no longer will be paid into Paypal.

 

How will this affect those of us who are using Paypal Working Capital loans that depend on the payments going into our Paypal account?

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45 REPLIES 45

knjhj
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Contributor

DO NOT CLICK ON ANYTHING TO DO WITH THIS ON ebay or you will automagically be signed up for it. And there seems like not way to turn it off. Time for ebay to be investigated as a monopoly as they are now officially acting like one.

 

We need an alternative. I am going to cancel my auctions if I cannot turn this monstor back off. Fortunately it is a hobby business and while I like the income I would rather do with out than put up with extortion. I know that isn't true for everyone.

 

Paypal needs to sue.

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knjhj
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There was no way to shut it off. It is unclear if they just turned it on or if clicking on the sign up link turned it on with no confirmation necessary.

I never completed the sign up process (never gave them social security number or bank info). Had I not turned of my auctions immediately I would be out the money with no way of getting it back short of arbitration which is a waste of time.

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sonicblue
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can someone help me i am a buyer and im getting **bleep** and the seller sent me the wrong item big time like 200 dollar difference in items. ebay has my money seller issued a refund but now i dont have it at all and they did it through the case that was closed by paypal automatically the day it opened so is my money lost 

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Chelski
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I have been trying to find out some more information as I am in the same boat as most people in relation to servicing the Working Capital Payback.

Australia is taking up the same system as the UK Ebay, so there is going to be a lot more resentment on what Ebay are doing and taking 2 days to transfer the funds to my account.
Not sure about the UK, but a transfer from Paypal Account to my bank in Australia is now between 12-24 hrs (except for weekends)

 

I have put a request into Paypal to try and get some answers on what it will affect in the way we trade with them.
I have an ebay shop and a website that are both run independently, but at present 95% of my sales come via Ebay, so the small amount that my website generates would not be enough to service the Paypal Working Capital loan I have.

I will post any info I get from Paypal from the reply to my message to them.

 

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tommy2tone1
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Contributor

we received  a frightening email  saying this also from ebay but we noticed it wasn't  exactly spelled  out so we asked an ebay employee  in the ebay community  and here's  what we asked and also the answer(notice the word invite and also we didn't  get a direct answer  to any questions so i'm pretty sure this is just a trick to get me to bite the hook think i'm good till 2023 sigh of relief) here question and answer.

 

QUESTION: Is changing to managed payments a requirement with a deadline of July 2020 inaction of making this change,even though we use Paypal,would mean cessation of buyers being able to pay us?

If there isn't  a cessation what would the actual deadline be?

Might it be July of 2023 doesn't eBay have an agreement until then?

Don't  see it spelled out in direct terms and would very much appreciate as direct answers on those questions you can give.

respectfully maw's

 

ANSWER:  As blank stated if you received the invite you should plan to register by July. Sellers will be required to transition in groups, so not all sellers will receive the invitation. If you didn't receive an invite, don't worry. If you did, plan to register by end of July. 

 

Thanks.

 

Blank

 

(no doubt it's  clear it's an invitation the rest is word salad,this was a very deceptive tactic to get sellers to switch  to managed payments in my opinion and to do this at this time WOW)

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andreeaktm
Contributor
Contributor

eBay Managed Payment will be mandatory for all sellers by the end on July 2020 (ebay UK).

Yes, buyers can still use Paypal to pay for goods, but the transaction will be processed by eBay themselves. Money will be sent to the business bank account ( we will have to provide eBay with all banking details and they will have to exact match the eBay account details) and they will need to be verified for Money Laundering. No payments will ever be received through PayPal account. eBay will hold the money fro 2-5 working days, this will put a strain on cash flow.

As PayPal is not involved at all in any future transactions, we will not be able to take out PayPal Working Capital loans as there will be no transactions going through to build the 'reputation'. 

This is detrimental for sellers, their businesses and PayPal too.

We will not have the same seller protection as we will have to send goods, mark them as despatched and add tracking number, although payments may have not cleared via eBay. It will be difficult and time consuming going back and forwards with non receipt payments and goods..

eBay has not announced any fees as of yet, but it to be expected, once we are all enrolled and stuck with them, for fees to be higher than existing PayPal fees.

PayPal will see a huge decrease in their turnover, let's not forget that eBay has has over 2 billion dollars going through PayPal lat year only. There is also the PayPal Master Card, this will also see a decrease in use and transactions, as there will be no money on it, all money will go straight to the business bank account.

eBay is the only winner here, holding all monies for days, using them to buy and sell currency and stocks on the market !

Imagine how much can they have of our money  in 48 hours and what's the revenue from this.

In regards to PayPal Working Capital's alternative, eBay will be using Asto Capital. Well, they charge 18% interest, fixed monthly repayments by direct debit, so that's a no no for us all.

I am worried sick, really, as PayPal has been great for my business and this has come now to a halt. Not sure what will happen, but it's no benefit at all from not having PayPal as the only payment on eBay, buyers could have still paid with credit cards via Paypal..

Such as shame PayPal has not done something to prevent this happening and continue to be on eBay..

 

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Kevin_Roberts
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Contributor

I'm not sure there's anything PayPal CAN do 😞 

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tommy2tone1
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Contributor

SAN JOSE, Calif (BUSINESS WIRE), PayPal (NASDAQ: PYPL) and eBay (NASDAQ: EBAY) are signing an agreement, which will allow PayPal’s customers to pay on eBay until July 2023. The main objective of the agreement is to make PayPal available on eBay’s immediate payments model for its customers.

 

https://www.newyorkecommerceforum.com/2018/05/16/new-payment-agreement-of-paypal-and-ebay/

 

(notice no direct answer in my question in previous post for 2023 only word salad)

i'm  sitting tight in no rush to panic with a perceived  deadline that doesn't say deadline 

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Kevin_Roberts
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Contributor

Thanks, good information.

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tommy2tone1
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Contributor

pp wc loans are the best,the others are outrageous  interest and don't  offer generous amounts when someone  switch's they can say goodbye  to being able  to get those, i'm  good at tax time with pp also.i'm sitting tight

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