Ebay will handle payments itself in the future

ebay will handle payments itself in the future

Private sellers will have to wait seven days for their money under the new system, while commercial sellers will be charged an additional two percent fee. Payment can be made by bank transfer, credit card or direct debit as well as via the in-house payment service paypal or the similar service skrill (formerly moneybookers). When the money is paid to ebay, the seller is notified and has to send the item. From the moment it has been marked as shipped, the different payout periods start. For commercial sellers who have a long ebay history and meet the platform’s minimum standards, it will be one day.

All other commercial vendors have to wait seven days for their money plus the expected shipping time. With the additional fee, all payment methods are covered – which means that today’s separate paypal fee will also be waived, ebay spokeswoman maike fuest emphasized. Private sellers will not have to pay any additional costs, and they will not have to pay the current paypal fee either.

Ebay did not need a banking license for the new system because it was not a service that required a license, fuest said. The spokeswoman did not specify an exact start date. After the launch in summer, the changeover will take a few weeks. Anyone who registers as a new trader already has to comply with the new system. Ebay tested the changed payment processing in a pilot project since the end of august 2011. According to the company, more than 500,000 seller accounts are already using the new process.

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