eBay Details Plans to Replace PayPal as Main Payments Processor With New Partner Adyen

[NightFox]

Too bad for eBay. I think they'll regret this decision. Ultimately this will likely hurt eBay more than Paypal. It took a long time to build up peoples trust in Paypal.

I don't think that's going to be an issue as, unlike PayPal, Adyen is a 'back end'. So whereas with the current set-up, you're very obviously paying through a third party (i.e. PayPal), with Adyen you won't actually see any third party involvement, you'll just make/receive your payments through eBay itself - no taking you off to a third-party site, no third-party logos etc. No sign of any third party not to trust.

That's my understanding of this anyway.

 

[647156]

I rarely sell there, but more than once the winning bidder either never paid (and never even responds), or they message me saying they changed their mind.

I always sell using Buy it Now with the "require immediate payment" option ticked - that way purchases only happen when they pay (same as buying from an online retailer) and you set the price so there's no risk of getting less than you were hoping for (you can normally get a higher price with Buy it Now than auction-style listings too, and you can start with a higher price and just reduce it if no interest). On eBay UK at least there is no fee to list an item as a Buy It Now (you do of course pay the usual 10% + PayPal fee if it sells) - don't list as an auction with a Buy It Now as well as they do charge a listing fee to do both on a single listing.

It's expensive, and it takes two or three days for your funds to transfer to your bank account. (In North America.)

Probably more of a North America issue than a PayPal issue - here in the UK the transfer from PayPal to your bank account is free and instant (normally literally, though as with any "faster payment" it could in theory take up to 2 hours to show up in your account).

 

[danckwerts]

It's expensive, and it takes two or three days for your funds to transfer to your bank account. (In North America.)

It is expensive but I think the delays may be more to do with US banks. I had a PayPal refund from a US company who warned me it might take days to come through. It was in my UK bank within an hour.

 

[Darmok N Jalad]

I always sell using Buy it Now with the "require immediate payment" option ticked - that way purchases only happen when they pay (same as buying from an online retailer) and you set the price so there's no risk of getting less than you were hoping for (you can normally get a higher price with Buy it Now than auction-style listings too, and you can start with a higher price and just reduce it if no interest). On eBay UK at least there is no fee to list an item as a Buy It Now (you do of course pay the usual 10% + PayPal fee if it sells) - don't list as an auction with a Buy It Now as well as they do charge a listing fee to do both on a single listing.


Probably more of a North America issue than a PayPal issue - here in the UK the transfer from PayPal to your bank account is free and instant (normally literally, though as with any "faster payment" it could in theory take up to 2 hours to show up in your account).

I actually did this on my last sale, and it worked pretty well. The sad thing is, you basically have to limit your maximum potential sale, where an auction can often get more on some items. Though I guess these days when someone gets caught up on winning the auction and realizes they will overpay, they just flake out and not complete the sale. I do think I’ll avoid auctions and use this other approach, as I got several offers, and someone ended up paying full asking price anyway. The 3 days lost for non-payment resolution followed by a new 5-7 day auction is a big time waste.

 

[Johnny London]

I sold my iPhone 7 on ebay for 455€ and was charged 18€ by PayPal!!! What a ripoff.

 

[SigEp265]

Someone really needs to make a new eBay. I hate selling on there, but it’s the largest market I can reach. I run an online business and all transactions go through paypal. This is just another thing making selling on eBay even worse.

Same. Every time I sell on there I hope and pray that the buyer isn't some shady douche. I've been burned by shady buyers and eBay always sides with them.

 

[macduke]

I hardly use eBay any more, but when I do, it's usually to get gift cards at a discount 2-3 times per year. I'm not signing up for some foreign payment service that I don't trust. eBay is easy because nearly everyone has a PayPal account and they know they're protected. This is dumb.

 

[DeepIn2U]

wow, blow to Paypal. The start of the end it seems.

Why the move? Paypal works, it's established. It's expensive yes...

That's what I'm thinking. I've never even heard of Adyen, nor any of its services.

 

[oldhifi]

I'm not giving my bank account to anyone..like they want you to do...

 

[nburwell]

Welp, I'm glad I have moved away from buying and selling on eBay then. But it looks as though the full phase out of PayPal won't be complete until 2021.

 

[tdiaz]

eBay and their forever battle to get a piece of the action at every move.

There was a period when eBay was outright hostile towards PayPal and when they finally got the message that they couldn't herd the transactions through their own service, they bought PayPal instead.

BidPay - Started by an independent Western Union operator soon became the single biggest seller of Western Union money orders of all time, outselling Western Union and all of it's independent operators combined.

So Western Union bought out BidPay .. renamed it, and then renamed it back to BidPay and it fizzled.

eBay should just call their next service, BillPoint 2.0. beta.

 

[Saturnine]

Hopefully this is good news for users. It’s galling having to buy 10% in a final Value Fees to eBay, without also having to pay a further 3% to PayPal.

Having sold more than £10,000’s worth of goods on eBay this year, paying £1,300 in fees seems excessive.

 

[az431]

Pay Pal sucks but eBay itself has gotten so bad that I've stopped using it altogether after 16 years. Recently eBay made it impossible to contact support, and instead there is only an option to post a topic on the community forum, which is basically worthless. As they lose sellers, they keep raising selling fees to make up for lost revenue, further alienating existing sellers.

An absolutely horrible company that's likely on its last legs.

 

[Boatboy24]

eBay is getting worse and worse (and more expensive). I've seen a lot of posts in this thread about flaky buyers. I've probably only sold 20 things in my whole time there, but never had a bad experience until last week. Was selling a GoPro (which, admittedly sold for a bit more than I expected). Normally, I have payment within 24 hours - more often than not, immediately after the auction ends. On this one, no payment a day later, so I sent an invoice. Next morning, I get a response saying, "Sorry, having some issues and won't be able to pay".

 

[Icaras]

Not sure why this is a Mac rumour

I agree. This is non Apple related.

 

[jamisonbaines]

eBay sucks. To me at this point it will be another reason for it to fade into non-existence. Its bad enough that all I can find are people selling cheap Chinese junk in ebay stores when what I really want to find is private individuals selling used items like I can find on Kijiji up here in Canada. eBay has a much broader area that I can buy from which is what at one time made it great before they spammed it all up with stores.

Also, whenever I sell anything on eBay (which is rarely) I am shocked by how high all the fees are!

I've purchased many rare things on eBay that i was unable to find anywhere else. I'm also happy to be able to buy 99 cent phone cases, lens caps, usb cables, etc. that arrive in 3 months from China. No other site offers such a diverse selection at an equivalent value.
I agree that selling on eBay can be frustrating.
As for wanting to find used items from private individuals, that's not hard at all if you filter and sort your search parameters to match your desires. That said eBay is better for some product categories than others.

 

[bozzykid]

That's what I'm thinking. I've never even heard of Adyen, nor any of its services.

You probably wouldn't hear of them. They don't make end user products. They process payments on the backend. In fact, after this transition, no one will really know about Adyen either. Payments will be integrated directly into eBay.
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It's expensive, and it takes two or three days for your funds to transfer to your bank account. (In North America.)

I transfer funds to my bank account in just a few minutes (I'm in the US). Paypal has offered this in the US for quite a while now.

 

[UL2RA]

I agree. This is non Apple related.

Who cares?

 

[imronburgundy]

Pass. I'm not signing up for another payment system. Paypal works just fine.

 

[H3LL5P4WN]

It's expensive, and it takes two or three days for your funds to transfer to your bank account. (In North America.)

They have a new feature, with a fee of course, that allows you to instant transfer to your debit card. I paid a quarter to transfer $100 in 2 minutes.

 

[w4rm]

eBay sucks. To me at this point it will be another reason for it to fade into non-existence. Its bad enough that all I can find are people selling cheap Chinese junk in ebay stores when what I really want to find is private individuals selling used items like I can find on Kijiji up here in Canada. eBay has a much broader area that I can buy from which is what at one time made it great before they spammed it all up with stores.

Also, whenever I sell anything on eBay (which is rarely) I am shocked by how high all the fees are!

Kijiji is actually owned by eBay. They started it.

Wiki: “Kijiji was originally launched as "a start-up within eBay created by a small team of entrepreneurial employees" in 2005.”

 

[alphaod]

As much as I dislike PayPal, I'm not giving my financial information to another company that may just lose my information.

 

[skinned66]

I used to love eBay. I practically have no use for it now; three words: Global Shipping Program. I might get the odd cheap domestic item now like screen protectors, but that's it. I don't like brokers redirecting/delaying and repackaging my **** so they can take a cut.

 

[tmanto02]

And that’s when I stop using eBay

 

[Sandroll]

wow, blow to Paypal. The start of the end it seems.

Why the move? Paypal works, it's established. It's expensive yes...

Why is simple. And they are trying to spin the why by promising the transaction fees are going to be lower. The main reason they are doing all this is to get most of the transaction fees that Paypal is now getting. Of course the service is not going to be worth a s**t and when it comes to transaction issues prompt, accurate service is everything! It will take years to digest this huge blunder for both Ebay and Sellers.

Don't expect to save much on transaction fees. If Paypal charges 3% Ebay will charge 2% or 2.5% or more because they also have to pay Adyen. The customer service is going to be a mess. Not to mention that many buyers have done business with Ebay because of not having to give out credit card numbers to online vendors. Many Ebay customers avoid Amazon for that reason alone.

Looks like Amazon will profit from those that will see no difference with the security of Paypal gone to some startup company. And if they survive there will be higher fees from Adyen.

It will take longer than a pilot to figure out how many ways buyers are going to be unhappy not to mention sellers as reality sinks in. Fees are like taxes; the smaller they are the higher the volume of business. But they Don't get that. All they care about is increasing their bonuses.