eBay VP Says Managed Payments Is a Win for Buyers and Sellers

eBay VP Says Managed Payments Is a Win for Buyers and Sellers

eBay announced Monday it’s expanding Managed Payments, and its executive in charge of Global Payments had a message for buyers and sellers.

eBay announcement follows:

eBay Expands Managed Payments — Here’s Why This is A Win for All of Us
By: Alyssa Cutright, VP of Global Payments

eBay is expanding its management of payments for buyers and sellers in five countries.

Today’s a big day: eBay is now expanding its management of payments for our buyers and sellers in five key countries — and beyond. This expansion is a significant step on our journey to becoming a simpler, more modern managed marketplace.

For the past few years, we’ve worked hard to make it possible to manage your payments and we’re proud that this moment is here. This is an accomplishment for all of us: with the new way business is done on eBay, our buyers win, our sellers win, and our marketplace wins.

Why it’s a win for our buyers
Before eBay managed payments, there were fewer ways to pay, creating an inflexible checkout experience that didn’t keep up with buyers’ shifting needs.

Now, the checkout process is simple and integrated with more ways to pay, delivering the retail standards our buyers want and expect. Buyers can check out on their terms, with a range of payment options including credit cards, debit cards, gift cards and PayPal. Apple Pay is available as a payment option on iPhone and iPad. Google Pay is also available on the eBay site and on the eBay Android App. We have also enabled SEPA direct debit as a payment option for buyers in Germany, Afterpay for buyers in Australia and PayBright for buyers in Canada.

As we continue to expand our management of payments, we will also continue to expand payment options for buyers. This provides our existing buyers with new choice and flexibility and opens the door for new buyers worldwide to join our community.

Why it’s a win for our sellers
Before eBay managed payments, sellers had to work with two different companies to sell on our platform, creating hassle with supplemental reconciliation, time delays, and support challenges.

Now, selling is end-to-end and integrated on eBay, with everything you need to sell and get paid in one place. That means no third party fees, automatic payouts to your bank account, and a single source for reports, refunds, protections and support. And for most sellers, these streamlined operations will mean savings for their business, too. We believe these changes will help us better support our sellers and equip them to grow.

In the U.S., we’re hearing from longtime sellers like Theresa Cox who are already seeing the benefits. “I’ve been in the managed payments program for nearly two years now. I’ve said it before and I’ll say it again…this has to be one of the best, if not the best, programs eBay has rolled out…ever!” she said. “Features were added over time, usually ahead of schedule. … I am looking forward to the continued growth, sales and benefits as the program rolls out site wide,” she said.

And in Germany, sellers are also seeing how managed payments streamlines their business and offers buyers more choice. “I have been using the new payment processing since March and cannot say anything negative,” said Ramona Karsten, a seller in Germany who has been on eBay for nearly 20 years. “I don’t care how the payment goes, the main thing is that the customer buys and pays and my account fills up.”

Hundreds of thousands of sellers have already registered. A majority of sellers will be activated by the end of 2020. When eBay is ready to manage your payments, we’ll be in touch to get you registered. As we continue to modernize our platform, managing payments is critical in that transformation. Thank you for your continued partnership, we appreciate your support in the journey.

Why it’s a win for our marketplace
Our marketplace exists to create connections between buyers and sellers across the world. Payments is an essential component of making those connections and until now, our ability to empower and maximize opportunity for our community was dependent on a third party.

By managing payments, eBay is taking control of its own destiny. We are investing in our buyers and sellers, creating an integrated end-to-end platform, and enhancing the eBay experience by breaking down barriers and removing complexities for our customers.

Today, we are proud to manage payments in five countries and moving forward, we’re excited to bring these new benefits to our buyers and sellers across all countries where eBay operates.

For more information, check out our Seller Center.

SOURCE: eBay Announcement

Ina Steiner

Ina Steiner

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She’s a widely cited authority on marketplace selling and is author of “Turn eBay Data Into Dollars” (McGraw-Hill 2006). Her blog was featured in the book, “Blogging Heroes” (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.