eBay payments France, Italy and Spain are coming next and it’s been announced eBay will start taking over payments in the first quarter for 2021 – sellers in these countries are probably breathing a sigh of relief that they won’t be migrated in the fourth quarter so there will be no disruption in the busiest time of the year.
eBay began managing payments in the US for a select group of eligible sellers in September 2018, followed by expansions to Germany in 2019 and the UK, Australia and Canada earlier this year. Many UK sellers have already migrated with a further tranche of business sellers having activation dates this September. By the time eBay payments France, Italy and Spain go live, millions of businesses around the world will already be using eBay Payments.
The expansion to multiple countries this year and next is due to a significant milestone at the end of July with the expiration of eBay’s Operating Agreement with PayPal. Now, eBay is able to scale its management of payments globally.
At the end of Q2, eBay had already enrolled over 255,000 sellers in managed payments globally. Since launch, eBay has managed payments for nearly 42,000 sellers and processed $4.7 billion in GMV. They continue to be on track with its roll out of managed payments, transitioning a majority of sellers on its marketplace into the experience in 2021 and aiming to complete the process in 2022.
Managed payments is expected to deliver $2 billion in revenue and $500 million in operating income in 2022 thus satisfying eBay’s goal to deliver better value for shareholders. However perhaps more importantly, for the first time in it’s 25 year history, eBay have a single sign on sales and payments platform at last bringing them into line with every other ecommerce platform on the planet. One might even be forgiven for saying ‘About time!’.
“By managing the payments process, we’re creating a simpler, more unified experience for our customers, and streamlining operations for our sellers with one place to sell and get paid. As we continue expanding and scaling our management of payments around the world, we’re excited to add France, Italy and Spain to our growing roster of countries.”
– Alyssa Cutright, Vice President of Global Payments, eBay
3 Responses
Can anyone advise on how to enter the ebay paymentsd into accounting.
I have tried everything to make it simple and the only way is a seperate account and not doing the accounts for a month. Nightmare !!!
The reason for this is eBay only give you a full invoice at a month end.
So if you go weekly you guessed it that doesnt match with a calender month.
if you go daily then fine. But you only know the fees at the month end.
So in accounts you have poayments coming in that cannot be accounted for as all they give you during the month is items and FVF’s
the month end invoice gives you.
Gross £1000 all fees £200 paid into bank £800.
But until that arrives we know nothing.
Yet again eBay trying to mimic Amazon but messing it up. Because they do not physically take the money there is no movement of money so we cannot even enter it until we get that invoice.
They just spouted what did you do with paypel then before this.
Well again it shows their lack of money trail understanding.
We knew our paypal fees all the time as they did not alter.
So we chose to withdraw £1000 to bank and minus the set fees for that amount or £1200 and £1500 and so on nice and simple.
but ebay charge FVFs extra images advertising promotions and shop fees so why not just carry on how they are but actually withdraw the fees at the end from your chosen payment method how they always did.
Or are they that desperate fo the interest on that bit as well
Running scared of ONbuys growth springs to mind. Now they remove the customers email address as well so they have to log onto ebay at work or wherever to see when their parcel is going to arrive not just to their email.
JOKE
Yesterday my account switched to managed payments today my eBay DE. listings were ended as not being managed payments compliant.
“The payments process………….experience”
What a load of utter guff.
And don’t we pay for that unique experience- both in money and a system that is inadequate to say the least.