They'll deposit your money directly into your checking account, initiating the transaction within two days of the buyer making the payment (or once per week if you prefer). Opting in means eBay takes care of all the old hoops and will let you process credit and debit cards painlessly. You needed fancy stuff like a merchant account and a payment gateway. Previously, accepting credit and debit cards required all kinds of hoop-jumping. However, there's only one way to accept debit cards other than those above: opting in to managed payments. In October 2018, eBay disabled standard credit & debit processing for sellers who hadn't already set it up. You can still accept all kinds of cards through PayPal: With PayPal, you'd still have to pay your normal payment processing fees. Even now, managed payments will always save you money if you only sell one item in each transaction.Īnother cool little bonus: if you sell athletic shoes with a selling price of $100 or higher, you pay no fees beyond the $0.30 per-order fee. Lower Fees for Many Sellers (and Soon, All Sellers)Īs discussed under " Higher Fees for Some Sellers" above, eBay's fees will always be lower than PayPal’s starting August 12, 2020. If those problems didn’t scare you away, you probably want to opt in! The upsides are often bigger than the downsides. Why Would I Want to Use Managed Payments? Limited support for eBay for Charity at this time.Some listing types are not supported, and your unsupported listings will end if you switch.eBay is still ironing out the details here. If you rely heavily on international sales, consider sticking with the old payments system for now. They say that the ability to list or sell an item on eBay sites other than the one you listed on “may be limited.” In other words, you might be able to sell internationally now, or you may not. The language in eBay’s managed payments terms has become a bit more vague since then.
You would be unable to sell on eBay sites other than (so no, , etc.) or promote listings internationally. There were extreme limitations to international sales at first: Whether or not you used the Global Shipping program, you would only be able to sell internationally if the buyer purchased from you on. However, there may still be challenges to selling internationally. Thankfully, GSP support was rolled out in 2020, so this is no longer a problem. Limitations for International Salesīelieve it or not, you were unable to use the Global Shipping Program with managed payments at first. This change is awesome and allows you to always save 0.55% compared to PayPal. Their new terms for managed payments fees have changed the rate to 2.35% + $0.30 per order and go into effect August 12, 2020. Thankfully, eBay has addressed this situation. Let's say that on average, you sold two items per transaction, each priced at $10. However, it was dangerous if you often sold multiple items at a time. If you made $4,000 of eBay sales per month, spread out across 100 items, switching to managed payments would have netted you an extra $13 a month in pure profit. If you tended to sell one item to each customer, it was way better to go with eBay than PayPal. On first glance, that looks great! But the difference between "per transaction" and "per listing" is enormous. eBay has been charging 2.7% + $0.25 per listing sold. PayPal usually charges 2.9% + $0.30 per transaction. Higher Fees for Some Sellers (Soon to Be Solved)
The buyer has fewer hoops to jump through, which should mean more conversions for eBay over time. Instead of dealing with a separate payment interface like they do with PayPal, buyers will just choose from a list of payment options like Mastercard and Visa. Adyen will be more or less invisible to sellers and buyers alike. While divorcing from PayPal, eBay is gradually switching over to Adyen, the payments processor used by Uber and Spotify. But what exactly does that mean? And how will it affect your business if you opt in-or get dragged kicking and screaming? With the old PayPal-based system dying, sellers must prepare for the switch.
Since then, they’ve moved more and more sellers into the program.ĮBay says most sellers will be on managed payments by the end of 2020. They only invited a limited number of sellers to opt in, but they processed over $20 million for those sellers in the first 21 days. Will opting in to eBay-managed payments boost your profits, or destroy your business?ĮBay launched their new payments program on September 25, 2018.
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