After the buyer messaged me and confirmed that he had paid, eBay sent me the following:
"This is Susan from eBay, I'm the representative in charge of your transaction with the buyer
The major reason why the funds have not been reflected on your account is because we need to verify that the item has been shipped because some sellers will receive cleared funds in their account and they will refuse to ship out the item. So since the money has been debited from the buyer account, It will be on hold until you email us the picture of the shipping receipt for confirmation so we can release all your funds into your account. It's a measure for protecting both sellers and buyers..
This is done to make sure all transactions are safe and secure for both the seller and buyer.