Wenig on the new payments roll-out

[chapeaunoir]

I have no problems whatsoever with the concept of combined payments, but Wenig's choice of words ('big bang', 'devil in the details') isn't auspicious.  Also, I think he gave the side eye to Uncle Grief's now infamous begging for sellers to use UPC codes for the survival of the site - that I don't blame him for doing. Grief is everybody's garrulous, rather ridiculous, relative. 


www.ecommercebytes.com/C/blog/blog.pl?/pl/2018/2/1518544969.html

[val2525]

I'm totally fine with the upcoming payment change.

But I still want to know how fast eBay will process payments to sellers.

That one item can break this site if eBay opts to hold funds longer than the average for payment processors.

[chapeaunoir]

Yes, it would at least cause an exodus of sellers and possible lawsuits. Etsy has done fine with its payment system - it disburses weekly, but you can always have it transferred the next day. Since Etsy sets up an account and handles all the money for shipping labels, etc. (you purchase labels from them), I think this system is fair.

So it depends upon how eBay sets it up - Adyen also handles Etsy payments and eBay may simply have to follow this formula.

The problem I'm foreseeing is integration - that's where the devil is in the details. But they certainly have an experienced outfit handling it.

[SA]

Man, there are some salty sellers on that reply.
And clearly, half of them have no idea how this is even going to work or what it even means.

Will eBay lose sellers over this? Yeah, probably. But it will be the sellers loss.

I'm all for offering my buyers more payment options! I just hope it creates more sales.

[chapeaunoir]

Feb 15, 2018 0:28:00 GMT SA said:

Man, there are some salty sellers on that reply.
And clearly, half of them have no idea how this is even going to work or what it even means.

Will eBay lose sellers over this? Yeah, probably. But it will be the sellers loss.

I'm all for offering my buyers more payment options! I just hope it creates more sales.

There are definitely some chronics on there - I skip their posts as they'd whine if you hanged them with a new rope. Ina and her colleague periodically post to tell them to stow it lol - I think they wish they'd go away, too. 

Etsy lost about 60,000 sellers when they went to Etsy Payments only (from standalone Paypal and Etsy Payments), and I'm assuming eBay will lose at least that many. Those of us, like myself, who took Etsy Payments from the get-go are able to still take Paypal, as well as a number of other payment options (at last, I can take direct credit cards!! lol) and it's been a very good thing. We can also use guest checkout. The standalone paypal people who refused to change simply distrusted the entire thing, though some I could tell were living payment to payment so they may have been very apprehensive about the whole thing. But anything that any of those who were already in Etsy Payments made little difference to some. I'm thinking some of these sellers may have opened up again after they realized that it worked. 

[chapeaunoir]

And it's important to note that not everyone likes using Paypal - a change like this gives them options.

[SA]

ApplePay......
I think that will increase spending. Especially on mobile purchase checkouts.

[kat]

If sellers leave because of a delay in receiving funds, where will they go? Besides Instagram and Facebook, who pays immediately? Bonanza maybe?

[kritter]

Does a seller have to offer the new Ebay pay thing or can they stay with Paypal and get the immediate payment option from them like always?

[SA]

Paypal will still be a payment option.
But yes, we will have to all use eBay payments to process payments.

I imagine something like typical websites that offer a variety of payments.  ApplePay, VisaCheckout, PayPal, Credit Card, etc will all be processed through the new system.

[kritter]

Good. I am staying with Paypal because I don't trust Ebay not to muck it up.

I have never had any problems with Paypal and will continue to use it when buying also.

[SA]

Feb 15, 2018 17:00:56 GMT kritter said:

Good. I am staying with Paypal because I don't trust Ebay not to muck it up.

I have never had any problems with Paypal and will continue to use it when buying also.

Sorry, I updated my response by adding more info.

You will have no choice but to have other payment options available handled through the new processor.

[kritter]

Oh Lord, no good will come of this. 

[Deleted]

This is it:

Wenig told Goldman Sachs conference attendees that eBay would announce a date within 12 months of the end of the Operating Agreement (July 2020), "and beyond that date, to transact on eBay, you will need to have new Terms and Conditions in your eBay account and those will include payments. It will be the only way you can transact on eBay."

"It's not going to be optional. We're not going to hold peoples' hands and beg them to move over. We're basically going to say your eBay account is now your full end-to-end eBay account for all your activities including payments. And that's the way it works on every other marketplace."

Ebay is going to force this because this is how they're going to grow revenue. Ebay marketplace has dismal growth. 

[val2525]

The smart thing for eBay to do is announce early on the terms of the payment service (options, funds processing time, etc). If eBay has no intention of "holding" funds other than the 1-2 day processing time that many card processors take, then no problem. Tell us now. Otherwise sellers will think and expect the worst (totally justified too, based on prior experiences with eBay) and will not take any change well.

I hope Wenig isn't stupid enough to flip the payment processor switch during the 4th quarter of (any) year. That WOULD be eBay suicide.

[chapeaunoir]

Feb 15, 2018 17:59:09 GMT @dantes said:

This is it:

Wenig told Goldman Sachs conference attendees that eBay would announce a date within 12 months of the end of the Operating Agreement (July 2020), "and beyond that date, to transact on eBay, you will need to have new Terms and Conditions in your eBay account and those will include payments. It will be the only way you can transact on eBay."

"It's not going to be optional. We're not going to hold peoples' hands and beg them to move over. We're basically going to say your eBay account is now your full end-to-end eBay account for all your activities including payments. And that's the way it works on every other marketplace."

Ebay is going to force this because this is how they're going to grow revenue. Ebay marketplace has dismal growth. 

They're looking at significant cash flow from this, too, and it may help sales on the site because right now the system is behind the times - most large sites have integrated payments like this, with a back end handling the money if they don't themselves. Etsy gave no choice, either - it was move or go. Etsy was also foundering. 

They have to do something - ebay is falling further and further behind, and none of their ideas really work very well because I think they lost their way. If they screw this up they've had it.