From this week, eBay payments France, Italy and Spain have started to roll out as the project to bring payments in-house expands around the world.
“By managing the end-to-end payments process on its platform, eBay is creating a more streamlined experience for customers — offering buyers more flexibility and choice in payment methods and giving sellers an easier way to manage their businesses.”
As of the fourth quarter of 2020, eBay is managing payments for more than 1 million sellers worldwide, with over 38% of the company’s global on-platform volume processed through managed payments during the quarter. After initially launching in the US during late 2018, eBay have expanded management of payments to Germany, the UK, Australia, Canada and so next is eBay payments France, Italy and Spain, with Greater China coming soon. eBay remains on track to transition the majority of sellers on its marketplace into the experience in 2021.
As eBay eBay payments France, Italy and Spain rolls out, sellers will need to take note of eBay messages informing them of their activation date and ensure that they’ve fully verified their bank account and identity details to ensure eBay are able to disburse funds from sales.
For the latest update on eBay payments in the UK, check out our post from the eBay Spring 2021 Seller Release that came out earlier this week. eBay will start to charge more fees from sales proceeds (such as Shop subs) rather than invoice so you need to be aware of your cash flow and accounting.