OnBuy will be moving away from PayPal as their exclusive payment provider as of Monday the 6th March 2023, and have started to notify retailers of the transition to inhouse OnBuy Payments.
OnBuy say that sellers have told them they want to cut out the middleman and moving away from complex dispute resolution and hard-to-reach support. OnBuy Payments will enable the marketplacet to take control of all transactions on OnBuy alongside Nuvei, their new payment partner. This means simple, direct transactions, straightforward fees and quicker, more personal dispute resolution, as well as support directly from their UK-based team.
OnBuy Payments Benefits
- Funds paid straight to your UK bank account, WorldFirst or Payoneer account
- Quicker, more personal dispute resolution
- A single, clear sales fee – no more separate PayPal transaction costs or mandatory 30p that PayPal add-on per transaction! (More details coming soon)
- Help and support from OnBuy’s UK-based team
- A host of new payment options, including Klarna. OnBuy will still accept PayPal payments, as well all major credit cards
OnBuy Payment sign up process
To prepare your account in advance of the 6th of March, you will need to Log into the OnBuy Seller Control Panel and follow the instructions to connect your UK bank account, WorldFirst or Payoneer account. Once OnBuy have checked and approved your details, you’ll be ready for the switchover.
It’s important that you add your bank details in advance of the 6th of March, as failing to do so means that you won’t be able to continue trading on OnBuy once they officially move over to direct payment
OnBuy warn that you’ll need to keep your PayPal account open and connected until Saturday, 2nd September 2023 (at least 180-days after the switch), so you can manage any refunds that were placed before the change.
This is the first stage of an exciting series of improvements and changes that will provide you and your customers with a better experience, resulting in more traffic and more sales. Keep an eye on your inbox as there will be plenty more updates to come!
– OnBuy
