Consumer seller eBay payments is now rolling out in the UK and sellers will now need to update their payment details before a certain date to continue being able to list on eBay.
Consumer sellers who still need to update their payment details will have been emailed information about the process, with a link to click to get started. It is a simple process, but if they do not update their details, they will soon be unable to create and edit listings until they’ve done so.
For consumer seller eBay payments there are some benefits set out below but the main disadvantage will be that they will no longer have a PayPal balance from their sales proceeds on eBay. This has, for many, been what they considered as free money to spend on eBay as and when they want to treat themselves. Moving forward, sales proceeds will be lost in their bank account and so no longer necessarily respent on eBay.
On the plus side (something that eBay can’t really shout about) there will be no more double dipping on claims where a buyer has a punt at an eBay refund before moving to have a second punt with PayPal. eBay will now have full visibility of buyer history and be able to spot repeat dodgy refund offenders and if they block them once that will be that.
Consumer seller eBay payments benefits
eBay say that consumers will see key benefits from eBay payments and one major change will be that fees will be automatically deducted from sales proceeds so sellers will no longer receive invoices (unless they use enhanced features such as for instance an eBay Shop subscription).
- Simpler Fees
eBay selling fees will be deducted automatically from sellers’ earnings before they get paid, and fees are immediately shown in transaction details and monthly statements. The remainder of seller earnings will go directly to their bank account. No more PayPal processing fees. No more separate monthly fee payments.
- Convenient Payouts
Sellers will receive all payouts directly to their bank accounts. Sellers may also choose when to get paid: daily or weekly, as funds are available.
- Seller Protections
Because earning seller trust is our priority, eBay only asks for the information we need to keep sellers safe and pay out their earnings. We have also simplified claim and seller protections to make the seller experience easier. Learn more on how we will use the information here and how we protect sellers’ personal information here.
- Increased Buyer Choice
Apple Pay is available as a payment option on iPhone and iPad. Google Pay is also available on the eBay site and on the eBay Android App. Buyers can also choose locally relevant payment options like SEPA Direct Debit or Sofort EFT in Germany and Afterpay in Australia.