Quote:It looks like the nearly two-decade-long relationship between eBay and PayPal has quietly come to a close.

On Monday, the auctioneering giant quietly updated its terms of service to let sellers know that pretty soon, any funds they rake in will no longer be credited to their PayPal account. If sellers want to keep getting paid, any funds will need to be deposited directly into their bank account.

“When eBay manages payments, you can sell and get paid in one place, on eBay, without a need to pay third party processing fees,” the company wrote in an FAQ about the update. What eBay neglects to mention is that these managed payments come with a brand new processing fee from eBay—$0.30, plus a certain fraction of whatever price an item ultimately goes for. That said, the company’s promising sellers that whatever cut eBay ultimately takes will usually be lower than the roughly 13% they’re currently forking over to both eBay and PayPal combined.

On one website page explaining the new program, eBay noted that the deadlines for all users are “phased.” Some sellers are being told to swap out their PayPal login with the details from their checking account by midnight on June 1. Others, eBay says, will get communication from the company sometimes before the year’s end.

(06-03-2021, 05:13 AM)mothered Wrote: This will have a significant Impact for those who've been (heavily) reliant on PayPal - both on a personal and business level.

(06-03-2021, 07:48 AM)Jiggly Wrote: I wonder what this means for PayPal. I think it's fair to say eBay is by far and large not their only source of income. It's little annoying from another perspective, since a lot of consumers love the ease of using PayPal for their shopping.

(06-03-2021, 07:48 AM)Jiggly Wrote: Also, eBay has been advertising for decades about how much "safer" it is to use PayPal over sharing bank/card information. While I always knew it was marketing bollocks for their own gain, it still stands as a preferable choice to those who don't want their payment info stored with the company. There have been more than enough data leaks lately to make that an even more pressing issue.

(06-03-2021, 07:48 AM)Jiggly Wrote: Personally, I think users should be given a choice as to what they want to use.

(06-03-2021, 10:34 AM)mothered Wrote:

(06-03-2021, 07:48 AM)Jiggly Wrote: I wonder what this means for PayPal. I think it's fair to say eBay is by far and large not their only source of income. It's little annoying from another perspective, since a lot of consumers love the ease of using PayPal for their shopping.

You've nailed It here ^

It's the consumers and businesses who'll feel the loss to some degree. Many companies use PayPal's gateway as their main form of payment, so both themselves and their customers will need to adapt to new payment systems which may not be In the best Interests of both entities.

(06-03-2021, 07:48 AM)Jiggly Wrote: Also, eBay has been advertising for decades about how much "safer" it is to use PayPal over sharing bank/card information. While I always knew it was marketing bollocks for their own gain, it still stands as a preferable choice to those who don't want their payment info stored with the company. There have been more than enough data leaks lately to make that an even more pressing issue.

This Is "the" reason why I use (where possible) PayPal and not my banking system for online transactions.

(06-03-2021, 07:48 AM)Jiggly Wrote: Personally, I think users should be given a choice as to what they want to use.

Enough said.

I've stood by this comment, from the moment I first hit the power button on my PC and navigated online- and that was a very long time ago.

(06-03-2021, 07:48 AM)Jiggly Wrote: I wonder what this means for PayPal. I think it's fair to say eBay is by far and large not their only source of income. It's little annoying from another perspective, since a lot of consumers love the ease of using PayPal for their shopping.

(06-03-2021, 06:12 PM)demonboy Wrote: This is great news as a seller who hasnt been able to sell on eBay since 2018, when I was banned from PayPal for selling Twisty Glass Blunts (not against TOS to sell smoking accessories)

I really hope that eBay decides to follow in the steps of much smaller companies like Mercari & Poshmark when it comes to how the payment system works.

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(06-03-2021, 07:48 AM)Jiggly Wrote: I wonder what this means for PayPal. I think it's fair to say eBay is by far and large not their only source of income. It's little annoying from another perspective, since a lot of consumers love the ease of using PayPal for their shopping.

Yes, Serial Scammers and Cheapskates absolutely love paypal as well! The only platform that supports eBay transactions is also a #1 Favorite for the types of People I named before. PayPal will always side with the buyer, always. The only way they won’t is if you didnt pay for the PayPal fees for the transaction (sent as friends & family). If all else fails, your bank will still allow a Chargeback if PayPal doesnt agree to it. This is an eBay sellers often nightmare.

Sellers hate PayPal, Scammers love it. Im sure as a buyer/consumer you wouldnt need to worry about this but if you scroll through PayPal’s Subreddit r/PayPal you will see the horror stories.

(06-03-2021, 06:57 PM)Jiggly Wrote:

(06-03-2021, 06:12 PM)demonboy Wrote: This is great news as a seller who hasnt been able to sell on eBay since 2018, when I was banned from PayPal for selling Twisty Glass Blunts (not against TOS to sell smoking accessories)

I really hope that eBay decides to follow in the steps of much smaller companies like Mercari & Poshmark when it comes to how the payment system works.

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(06-03-2021, 07:48 AM)Jiggly Wrote: I wonder what this means for PayPal. I think it's fair to say eBay is by far and large not their only source of income. It's little annoying from another perspective, since a lot of consumers love the ease of using PayPal for their shopping.

Yes, Serial Scammers and Cheapskates absolutely love paypal as well! The only platform that supports eBay transactions is also a #1 Favorite for the types of People I named before. PayPal will always side with the buyer, always. The only way they won’t is if you didnt pay for the PayPal fees for the transaction (sent as friends & family). If all else fails, your bank will still allow a Chargeback if PayPal doesnt agree to it. This is an eBay sellers often nightmare.

Sellers hate PayPal, Scammers love it. Im sure as a buyer/consumer you wouldnt need to worry about this but if you scroll through PayPal’s Subreddit r/PayPal you will see the horror stories.

Oh I 100% agree, but sellers and scammers aren't the only ones utilizing it xD It's a very valid point. I've used PayPal and eBay as a seller and a consumer, and can hands down say I'd still prefer to have the CHOICE of using PayPal. Scammers and fraudsters also love a bit of leaked data

There's definitely pros and cons as you've highlighted. I just feel suspicious that sellers aren't going to get as many benefits out of this that they should. Sounds like they're going to have deposits frozen among other growing pains. Fingers crossed it all works out for the best though!

(06-03-2021, 07:49 PM)demonboy Wrote:

(06-03-2021, 06:57 PM)Jiggly Wrote:

(06-03-2021, 06:12 PM)demonboy Wrote: This is great news as a seller who hasnt been able to sell on eBay since 2018, when I was banned from PayPal for selling Twisty Glass Blunts (not against TOS to sell smoking accessories)

I really hope that eBay decides to follow in the steps of much smaller companies like Mercari & Poshmark when it comes to how the payment system works.

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Yes, Serial Scammers and Cheapskates absolutely love paypal as well! The only platform that supports eBay transactions is also a #1 Favorite for the types of People I named before. PayPal will always side with the buyer, always. The only way they won’t is if you didnt pay for the PayPal fees for the transaction (sent as friends & family). If all else fails, your bank will still allow a Chargeback if PayPal doesnt agree to it. This is an eBay sellers often nightmare.

Sellers hate PayPal, Scammers love it. Im sure as a buyer/consumer you wouldnt need to worry about this but if you scroll through PayPal’s Subreddit r/PayPal you will see the horror stories.

Oh I 100% agree, but sellers and scammers aren't the only ones utilizing it xD It's a very valid point. I've used PayPal and eBay as a seller and a consumer, and can hands down say I'd still prefer to have the CHOICE of using PayPal. Scammers and fraudsters also love a bit of leaked data

There's definitely pros and cons as you've highlighted. I just feel suspicious that sellers aren't going to get as many benefits out of this that they should. Sounds like they're going to have deposits frozen among other growing pains. Fingers crossed it all works out for the best though!

Honestly PayPal gives payment processors a bad rep. PayPal is not the only one, nor is the best Payment Processor available. It might be the only one available globally but that does not make it a better product unfortunately. The Cons far outweigh the Pros when it comes to using PayPal as a seller. I have not heard one positive thing about PayPal from any sellers online.
As a customer i’m sure the platform is convenient, but it will never have my business. Good riddance eBay dropped their contract last year.