New payment method coming to eBay.

[kopenhagen5]

Received an email today that eBay will be introducing a new payment method from Adyen.

At first glance it seems it will be very similar to PayPal.

Hope they are not planning on phasing out PayPal.

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. 

[rocketcds]

Isn't the most intriguing point of all this from what I have been told is Ebay will be able to "hold" your funds and pay them to you on a regular scheduled basis....Seems to me like another way to make "use" of your money while they have it eg. Interest! 

For those who think this is a great idea you must have rocks in your head! Seriously if I sell $1,000 worth of items in a week and I have to wait a fortnight as some people are suggesting ebay are proposing...Yeah that works well doesn't it?

[digital*ghost]

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@rocketcdswrote:

For those who think this is a great idea you must have rocks in your head! Seriously if I sell $1,000 worth of items in a week and I have to wait a fortnight as some people are suggesting ebay are proposing...Yeah that works well doesn't it?

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I dunno if I would go so far as to call it a great idea, but I do think it was inevitable, and - in some ways - necessary.

The online world is so much bigger than eBay and PayPal now, choice and flexibility (for buyers) is imperative, and this change will allow (at the very least the potential for) that more than PayPal alone can. 

Of course, from a seller's perspective, it's a double-edged sword, because I don't have the highest degree of confidence in eBay being in control of my payments / funds. At this stage, though, anything other than "payment changes are coming" is really just speculation. All we have to go on is what other sites with this kind of set up do - the two I'm most familar with handle it quite differently, as mentioned earlier; one pays out strictly once per fortnight, the other has up to 24 hours as a holding period but you can withdraw daily. Kind of polar opposites, really, but I'd put $5 on eBay having a payment schedule of weekly. Not that I'm basing that on anything, other than it just seems like an eBay thing to do.

[clarry100]

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@digital*ghostwrote:

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@rocketcdswrote:

For those who think this is a great idea you must have rocks in your head! Seriously if I sell $1,000 worth of items in a week and I have to wait a fortnight as some people are suggesting ebay are proposing...Yeah that works well doesn't it?

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I dunno if I would go so far as to call it a great idea, but I do think it was inevitable, and - in some ways - necessary.

The online world is so much bigger than eBay and PayPal now, choice and flexibility (for buyers) is imperative, and this change will allow (at the very least the potential for) that more than PayPal alone can. 

Of course, from a seller's perspective, it's a double-edged sword, because I don't have the highest degree of confidence in eBay being in control of my payments / funds. At this stage, though, anything other than "payment changes are coming" is really just speculation. All we have to go on is what other sites with this kind of set up do - the two I'm most familar with handle it quite differently, as mentioned earlier; one pays out strictly once per fortnight, the other has up to 24 hours as a holding period but you can withdraw daily. Kind of polar opposites, really, but I'd put $5 on eBay having a payment schedule of weekly. Not that I'm basing that on anything, other than it just seems like an eBay thing to do.

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So does this mean that ebay would become a financial entity and as such would be subject to FOS complaints if/when the situation arises?

At the moment you can't make a complaint to the FOS against ebay. Only to the ACCC if they do soemthing that is non-compliant with their own policies.

[kopenhagen5]

Good point, I would imagine so.

And eBay would probably also require the necessary FS's licences in Aus.

[digital*ghost]

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@clarry100wrote:

So does this mean that ebay would become a financial entity and as such would be subject to FOS complaints if/when the situation arises?

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I honestly don't know, but I think there may be some key differences that might affect whether that's likely or possible.

eg PayPal operate in Australia, they do the processing and members hold an account directly with them, while with this new system, Adyen will do the processing and eBay will hold the account with them and give you your money after whatever time period they go with. 

I believe that the other site doesn't fall under FOS jurisdiction (E*sy), because they don't technically operate in Australia, nor does the payment processor, so the dispute resolution options for eBay are going to be interesting to see. 

[brerrabbit585]

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@digital*ghostwrote:

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@clarry100wrote:

So does this mean that ebay would become a financial entity and as such would be subject to FOS complaints if/when the situation arises?

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I honestly don't know, but I think there may be some key differences that might affect whether that's likely or possible.

eg PayPal operate in Australia, they do the processing and members hold an account directly with them, while with this new system, Adyen will do the processing and eBay will hold the account with them and give you your money after whatever time period they go with. 

I believe that the other site doesn't fall under FOS jurisdiction (E*sy), because they don't technically operate in Australia, nor does the payment processor, so the dispute resolution options for eBay are going to be interesting to see. 

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Seeing speculation is rife, I may as well do a bit of my own.  I can't really see any reason why things can't be the same as they are now, except that instead of having an option to use paypal there'll be one for paypal OR Adyen with no need for ebay to touch the money at all.  Like I said, just speculation.

[digital*ghost]

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wrote:

Seeing speculation is rife, I may as well do a bit of my own.  I can't really see any reason why things can't be the same as they are now, except that instead of having an option to use paypal there'll be one for paypal OR Adyen with no need for ebay to touch the money at all.  Like I said, just speculation.

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I think that would be the preferred way to handle it for most sellers, but from the statements eBay has made in the announcement, I think it's unlikely- particularly this one:

"To enable payments in their eBay accounts, sellers should expect to provide eBay with some additional payments-related data and transition to a new relationship with eBay that includes integrated payments capabilities."

It's mostly the "new relationship with eBay" bit that makes me think so, as I think "eBay accounts" is just referring to member accounts in general. 

[padi*0409]

Digi, looking at this from a slightly different angle, at the moment eBay insists on there being at least one safe payment method - ie Paypal or merchant banking facilities.

Now I imagine that since they don't disallow the merchant banking side of it, how can they justify forcing sellers not to offer Paypal and merchant banking if they offer to use the new system as well - though thinking about it they did disallow Paymate to be used...

Hmmm, sucessfully shot down my own argument there........................

[trustitdude]

Cant wait for this to happen. I have lost $1000 and a laptop  through PayPal , Seller protection My AR$# . Cancelled PayPal this year , bunch of frauds with 0 rating CX .  Look at the shares, doubled since Jan 16, they won't worry about this.  It just doesn't work now they are different businesses.  Ebay closes a case , no problem  u think it's over , then Paypal comes over the top and slams you and holds your money to ransom.

The world has moved on from PayPal and institutions and payment systems that care about CX are catching up.

[kopenhagen5]

Did you do both a case through eBay then PayPal when the eBay one failed ?