EBAY MANAGED PAYMENTS 2022 | Everything You Need To Know | eBay Selling Fees EXPLAINED

TL;DR

eBay is implementing a new managed payment system, allowing sellers to receive payments directly from buyers. This system aims to improve the buying and selling experience by offering more payment options for customers.

Transcript

what's going on youtube welcome back to my channel if you're new my name is sam i'm a full-time six figure ebay and shopify seller and what i do on this channel is help you make money on either ebay or shopify so make sure you subscribe down below what i'm gonna do in today's video is talk about the ebay managed payment system i recently made a vid... Read More

Key Insights

• 🎮 eBay is transitioning to a managed payment system to have more control over the payment process and enhance the buyer and seller experience.
• 👶 The new payment system offers additional payment options for buyers, including Apple Pay and Google Pay.
• 👻 Sellers are being phased into the new system gradually, and not all categories are allowed on the managed payment platform.
• 💁 It is crucial for sellers to ensure that their eBay account information and bank account details match to avoid any issues during registration.
• 💌 Sellers should stay updated on any email notifications from eBay regarding registration deadlines.
• 👶 Reports and accounting software integration will need to be adjusted to accommodate the new payment system.
• 🤱 Fees in certain categories may change, so sellers should review eBay's website to understand the updated fee structure.

Questions & Answers

Q: Why is eBay implementing a managed payment system?

eBay wants to have more control over the payment process and ensure that funds are managed correctly for the benefit of both buyers and sellers.

Q: Do all eBay sellers have to join the new payment system?

No, eBay is rolling out the system in phases, and not all sellers are required to join immediately. However, most sellers will be on the new system by mid-2021.

Q: What happens if my eBay account and bank account names don't match?

The owner of the bank account used for registration must match the name on the eBay seller profile. If there's a mismatch, you may need to contact your bank to update the name or make necessary changes.

Q: How are fees charged in the new managed payment system?

Fees are deducted immediately after a sale, similar to how PayPal works. There won't be a monthly invoice for fees.

Summary & Key Takeaways

• eBay is transitioning to a new managed payment system, where sellers will receive payments directly from buyers.

• This system is being implemented in phases, with some sellers already using it in the US and a small percentage in the UK.

• The new payment system offers various payment options for buyers, including Apple Pay and Google Pay.