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eBay Dumping PayPal (eventually)

#1 User is offline   Jim Hubert Icon

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Posted 06 February 2018 - 02:36 PM

Got the following from eBay several days ago. I don't really want another online bank account as I think PayPal works pretty well. It will be interesting to see how this plays out. Adyen is a Dutch company. See: https://www.adyen.com/

Quote

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 paymentsinfo@ebay.com.

We're looking forward to what's next, and to getting there with you.

As always, thank you for selling on eBay.

Bob Kupbens VP, B2C Selling, Laura Chambers VP, C2C Selling


Bloomberg story: https://www.bloomber...-lowering-costs
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#2 User is offline   JohnnyCage Icon

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Posted 06 February 2018 - 02:58 PM

I got the email too. As long as they don't clearly charge more to use PayPal, I will continue to use it.
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#3 User is offline   POE Icon

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Posted 06 February 2018 - 03:30 PM

Huh. There's a paradigm shift.
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#4 User is offline   Jim Hubert Icon

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Posted 06 February 2018 - 03:46 PM

There may be some potential up-side to this regarding foreign transactions -- if the transaction processing fee is reduced. Whenever I sell to someone not paying in US dollars, PayPal gets an extra 1% to do the currency conversion. But I know PayPal is making money on the other side of the transaction as well. I buy parts out of England frequently and the exchange rate PayPal gives is always noticeably worse than what the OANDA https://www.oanda.co...ency/converter/ currency converter shows.
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#5 User is offline   ripperd Icon

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Posted 07 February 2018 - 07:54 AM

I was about to ask why, since Ebay owned PayPal. But apparently they spun them off to a publicly traded company 2015. I never realized that. Now it makes sense.
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