exciter1 Posted February 1, 2018 Share Posted February 1, 2018 In an attempt to revert back to 1981 K-Tel Records payment structures, eBay will begin intermediating payments on its Marketplace platform. eBay is happy to announce plans to further improve the customer experience by intermediating payments on our Marketplace platform. In doing so, eBay will manage the payments flow, simplifying the end-to-end experience for both buyers and sellers. We have signed an agreement with Adyen, a leading global payments processor, to become our primary payments processing partner. PayPal, a long-time eBay partner, will be a payments option at checkout for eBay buyers. You do not need to take any action at this time. The transition to full payments intermediation will be a multi-year journey. Over the past three years, eBay has transformed its business to drive the best choice, most relevance and most powerful selling platform. Building out our payments capabilities is the next step in that strategy. Payments intermediation will bring significant benefits for eBay sellers. You can expect a simplified pricing structure, more predictable access to funds, and most sellers can expect their costs of payments processing to be reduced. We’re also working on ways to provide sellers a central place to track and manage their business, which can soon include payments information. By offering buyers more choice in how they pay and expanding payment options into more geographies, eBay believes sellers will be able to reach more buyers and improve conversion. The transition to full payments intermediation will be a multi-year journey. eBay will begin intermediation on a small scale in North America starting in the second half of 2018, expanding in 2019 under the terms of the Operating Agreement with PayPal. In 2021, we expect to have transitioned a majority of Marketplace customers to the new payments experience. Again, you do not need to take any action at this time. As eBay gets closer to the initial phase of its intermediation efforts, we will share more details about this process and next steps for sellers. In the meantime, please read the eBay Inc announcement for further information. For any immediate questions or to share feedback, please email [email protected]. We’re looking forward to what’s next, and to getting there with you. As always, thank you for selling on eBay. Bob Kupbens Laura Chambers VP, B2C Selling VP, C2C Selling Quote Link to comment Share on other sites More sharing options...
bigboy61 Posted February 1, 2018 Share Posted February 1, 2018 (edited) 4 minutes ago, exciter1 said: In an attempt to revert back to 1981 K-Tel Records payment structures, eBay will begin intermediating payments on its Marketplace platform. eBay is happy to announce plans to further improve the customer experience by intermediating payments on our Marketplace platform. In doing so, eBay will manage the payments flow, simplifying the end-to-end experience for both buyers and sellers. We have signed an agreement with Adyen, a leading global payments processor, to become our primary payments processing partner. PayPal, a long-time eBay partner, will be a payments option at checkout for eBay buyers. You do not need to take any action at this time. The transition to full payments intermediation will be a multi-year journey. Over the past three years, eBay has transformed its business to drive the best choice, most relevance and most powerful selling platform. Building out our payments capabilities is the next step in that strategy. Payments intermediation will bring significant benefits for eBay sellers. You can expect a simplified pricing structure, more predictable access to funds, and most sellers can expect their costs of payments processing to be reduced. We’re also working on ways to provide sellers a central place to track and manage their business, which can soon include payments information. By offering buyers more choice in how they pay and expanding payment options into more geographies, eBay believes sellers will be able to reach more buyers and improve conversion. The transition to full payments intermediation will be a multi-year journey. eBay will begin intermediation on a small scale in North America starting in the second half of 2018, expanding in 2019 under the terms of the Operating Agreement with PayPal. In 2021, we expect to have transitioned a majority of Marketplace customers to the new payments experience. Again, you do not need to take any action at this time. As eBay gets closer to the initial phase of its intermediation efforts, we will share more details about this process and next steps for sellers. In the meantime, please read the eBay Inc announcement for further information. For any immediate questions or to share feedback, please email [email protected]. We’re looking forward to what’s next, and to getting there with you. As always, thank you for selling on eBay. Bob Kupbens Laura Chambers VP, B2C Selling VP, C2C Selling Nothing to see here...just eBay trying to shaft sellers (and really buyers too) for the nth time. I already don't trust PayPal (their terrible dispute resolution process), but I distrust eBay even more. Edited February 1, 2018 by bigboy61 2 1 Quote Link to comment Share on other sites More sharing options...
rcdb1984 Posted February 1, 2018 Share Posted February 1, 2018 I think this is a good idea. Hopefully the fees will be less since we are using eBay. I'm sure less people will use or even accept PayPal going forward if this works out well. Quote Link to comment Share on other sites More sharing options...
exciter1 Posted February 1, 2018 Author Share Posted February 1, 2018 Just now, rcdb1984 said: I think this is a good idea. Hopefully the fees will be less since we are using eBay. I'm sure less people will use or even accept PayPal going forward if this works out well. I can't imagine this, as much as PayPal is adopted all over the world. 3 Quote Link to comment Share on other sites More sharing options...
rcdb1984 Posted February 1, 2018 Share Posted February 1, 2018 What side of transaction fee is only three or four percent. that's going to add up to savings. Quote Link to comment Share on other sites More sharing options...
Popular Post Darth_Raichu Posted February 1, 2018 Popular Post Share Posted February 1, 2018 6 minutes ago, exciter1 said: more predictable access to funds, Last time I checked, I could login to PayPal account and withdraw any payment as soon as the purchase was made. Unless this new system allows me to access my money via thoughts, I do not see how this will be simpler than what we have now 15 2 Quote Link to comment Share on other sites More sharing options...
BrickLegacy Posted February 1, 2018 Share Posted February 1, 2018 I'm concerned about seller protection. Paypal is actually pretty good when it comes to this. 6 Quote Link to comment Share on other sites More sharing options...
crayxlp Posted February 1, 2018 Share Posted February 1, 2018 Exciter (initial submission): Heeey! i was just about to post that.. that mail just landed in my mailbox and at first i thought "what the f--- ! "- what happened to paypal? I read all through and still thought - but paypal is like "ebay offspring" .. why would they promote soem 3rd party? - and at that "surinaamse" Surinam in Caribbean - part of Dutch monarchy - is generally perceived in The Netherlands like a kind of a "2nd grade" citizenship.. ) so why would they promote a new check-out platform? - and more interestingly - what MORE could they offer to the seller than a 2.2 % fee on a realized payment.. ? Quote Link to comment Share on other sites More sharing options...
Darth_Raichu Posted February 1, 2018 Share Posted February 1, 2018 8 minutes ago, BrickLegacy said: I'm concerned about seller protection. Paypal is actually pretty good when it comes to this. Yep, it said nothing about improving selling experience 20 minutes ago, exciter1 said: eBay is happy to announce plans to further improve the customer experience by intermediating payments 3 Quote Link to comment Share on other sites More sharing options...
Darth_Raichu Posted February 1, 2018 Share Posted February 1, 2018 6 minutes ago, crayxlp said: "what the f--- ! "- what happened to paypal? Technically Paypal is a separate entity from eBay since 2015. There has been a long standing rumor that Paypal is going to be purchased by 1 of the mega companies Quote Link to comment Share on other sites More sharing options...
LegoBro Posted February 1, 2018 Share Posted February 1, 2018 Over the past three years, eBay has transformed its business to drive the best choice, most relevance and most powerful selling platform. Building out our payments capabilities is the next step in that strategy. I think they should spend another 3 years on the first part. Payment capabilities should be the least of their priorities at this time.Sent from my SAMSUNG-SM-N900A using Brickpicker Forum mobile app 1 Quote Link to comment Share on other sites More sharing options...
Phil B Posted February 1, 2018 Share Posted February 1, 2018 I’m wondering whom eBay thinks is their customer. Likely not us, sellers. And those payment options they promise, is it going to be the sellers choice which option to offer, or would it be up to the buyer? Again, likely the buyer, so the scammers will be the first ones to discover which option screws us over the most, and we won’t have a choice to defend ourselves against this. Sad times.... 4 Quote Link to comment Share on other sites More sharing options...
cladner Posted February 1, 2018 Share Posted February 1, 2018 this is crushing paypal stock in the afterhours - down 11%. not surprising that this happened. paypal's value now dwarfs ebay's. paypal is a means of payment at all ebay's competing marketplaces and retailers so paypal is facilitating ebay's competition and getting bigger and bigger. ebay will become a large stake holder in Adyen and make a killing when it IPOs later this year. the cycle begins anew. this can't be good for sellers. 2 Quote Link to comment Share on other sites More sharing options...
legopocalypse Posted February 1, 2018 Share Posted February 1, 2018 2 1 Quote Link to comment Share on other sites More sharing options...
legopocalypse Posted February 1, 2018 Share Posted February 1, 2018 I imagine Paypal Capital (loans) will eventually no longer be offered since they base the amount you can borrow on your Ebay sales. Quote Link to comment Share on other sites More sharing options...
exracer327 Posted February 1, 2018 Share Posted February 1, 2018 (edited) There has to be something afoot that none of us are seeing. Why would ebay give its offspring the boot only to take on a new offspring? There is something going on behind the scenes that we'll all find out in a few months. I too am trying to figure out how this will be better.... for anyone really. Unless ebay regrets spinning off paypal and wants it back but paypal isn't interested so ebay is now trying to give them the shaft in the hopes that they crumble. Only logical reason I can think of for ebay to take on a new financial partner. Paypal has definitely done better than ebay. Edited February 1, 2018 by exracer327 Quote Link to comment Share on other sites More sharing options...
legopocalypse Posted February 1, 2018 Share Posted February 1, 2018 12 minutes ago, exracer327 said: There has to be something afoot that none of us are seeing. Why would ebay give its offspring the boot only to take on a new offspring? There is something going on behind the scenes that we'll all find out in a few months. I too am trying to figure out how this will be better.... for anyone really. Unless ebay regrets spinning off paypal and wants it back but paypal isn't interested so ebay is now trying to give them the shaft in the hopes that they crumble. Only logical reason I can think of for ebay to take on a new financial partner. Paypal has definitely done better than ebay. From Marketwatch ”PayPal Chief Executive Daniel Schulman characterized the move as expected and baked in to PayPal’s forecasts and plans for some time, and noted the operating agreement signed at the time of the split precluded PayPal from working with some large potential partners. He called it “the best possible outcome for PayPal. “There’s nothing about what’s been announced today that changes our thoughts on our ability to continue to grow our top line and bottom line after the operating agreement,” PayPal CFO John Rainey said in that company’s conference call.” Quote Link to comment Share on other sites More sharing options...
gregpj Posted February 1, 2018 Share Posted February 1, 2018 44 minutes ago, legopocalypse said: From Marketwatch ”PayPal Chief Executive Daniel Schulman characterized the move as expected and baked in to PayPal’s forecasts and plans for some time, and noted the operating agreement signed at the time of the split precluded PayPal from working with some large potential partners. He called it “the best possible outcome for PayPal. “There’s nothing about what’s been announced today that changes our thoughts on our ability to continue to grow our top line and bottom line after the operating agreement,” PayPal CFO John Rainey said in that company’s conference call.” So PayPal couldn’t work with Amazon and they want to... 1 Quote Link to comment Share on other sites More sharing options...
thedingman5 Posted February 1, 2018 Share Posted February 1, 2018 ^ Exactly what popped into my head. Amazon takes over retail banking via Paypal. Next step, small business banking (with a wonderfully captive reseller community in-house). Bezos for the win...(again)... 3 Quote Link to comment Share on other sites More sharing options...
Val-E Posted February 1, 2018 Share Posted February 1, 2018 (edited) So are Amazon or Google going to buy Paypal and stop Ebay from using it - therefore they need a new bride? Edited February 1, 2018 by Val-E Quote Link to comment Share on other sites More sharing options...
KShine Posted February 1, 2018 Share Posted February 1, 2018 (edited) BS - There is nothing about this that will bring us a better "Seller (or buyer) Experience". Just how many Adyen users are there compared to Paypal? and any savings that exist will be pocketed by ebay, not by us. The best that we can hope for is that the issues are limited. Edited February 1, 2018 by KShine 2 Quote Link to comment Share on other sites More sharing options...
Val-E Posted February 1, 2018 Share Posted February 1, 2018 Just got the mail from Ebay.es Basically the same content just that they are rolling out in the US first. Quote Link to comment Share on other sites More sharing options...
brickolodon Posted February 1, 2018 Share Posted February 1, 2018 PayPal stock down today for 7%... Sent from my SM-N900T using Brickpicker Forum mobile app Quote Link to comment Share on other sites More sharing options...
Val-E Posted February 1, 2018 Share Posted February 1, 2018 It will go up again when they announce who is buying them or partnering up with them. Has anyone worked it out yet? 2 Quote Link to comment Share on other sites More sharing options...
gregpj Posted February 1, 2018 Share Posted February 1, 2018 18 minutes ago, Val-E said: It will go up again when they announce who is buying them or partnering up with them. Has anyone worked it out yet? Yup. Quote Link to comment Share on other sites More sharing options...
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