Is eBay Officially Dead? | EBAY MANAGED PAYMENTS Explained 2021

TL;DR

In this video, a successful eBay seller shares their thoughts and experiences with the new eBay Managed Payment system, addressing common concerns and explaining the benefits of the change.

Transcript

i made a video in december 2020 that was breaking down my thoughts on the new ebay managed payment system before i actually registered and this video happens to be my most viewed video on this channel i'm going to be going through and answering a lot of the comments that you guys have posted on this video you know comments like this where it says w... Read More

Key Insights

• 🤑 The eBay Managed Payment system eliminates the need for PayPal and changes the way sellers receive and manage their money.
• ❓ Sellers may experience adjustments and challenges in bookkeeping due to the transition from PayPal to eBay's system.
• 😘 Lower fees are one of the noticeable advantages of the new system, potentially saving sellers money.
• 🐕‍🦺 Increased revenue for eBay means potential improvements for the platform, better customer service, and the possibility of competing more effectively with Amazon.
• 🍉 Sellers should consider the long-term benefits and improvements that may result from the eBay Managed Payment system.
• 👶 Despite initial concerns, many sellers have not experienced major issues with the payout process under the new system.
• 💬 Feedback and comments from sellers are valuable to understanding the overall perception and effect of the eBay Managed Payment system.

Questions & Answers

Q: What is the eBay Managed Payment system?

The eBay Managed Payment system is a replacement for PayPal and is eBay's method of collecting money from sellers. PayPal is no longer involved in the payment process.

Q: What are the differences in payout between PayPal and the eBay Managed Payment system?

With PayPal, sellers would receive money instantly, but with the new system, eBay holds the money in a pending balance until a payout frequency is chosen and the funds are transferred to the seller's bank account.

Q: Are there any challenges with the new system?

One challenge is the need for sellers to adjust their bookkeeping processes since they can no longer export reports from PayPal. Instead, they must now export files from eBay and adapt to new fee structures.

Q: What are the benefits of the eBay Managed Payment system?

The new system offers lower fees compared to PayPal, potentially allowing sellers to save money. Additionally, the increased revenue eBay generates from these fees may lead to platform improvements and the ability to compete with Amazon.

Summary & Key Takeaways

• The eBay Managed Payment system is eBay's way of collecting money from sellers, replacing the use of PayPal.

• Sellers have noticed changes in the way money is received and managed, including payout frequency and the need for adjusted bookkeeping processes.

• Despite some minor challenges, the new system offers advantages such as lower fees, potential platform improvement, and increased competition with Amazon.