As some of you may have noticed when selling through eBay, this digital marketplace has begun phasing out PayPal transactions. This means that the website has decided to integrate more payment options for sellers and buyers alike to get them their money faster. Specifically, payments will go directly to a user’s bank account rather than to Paypal, which removes the fees added to transactions. eBay is looking to streamline the paying process for buyers and allow them to shop and pay all in one place, this new system that they are implementing is allows users to choose a payment method that suits them the best.
Buyers will now have the choice of using debit or credit cards, Apple Pay, and Google Pay! The major reason for this decision is to enhance the user experience when using eBay as much as possible while also helping eBay remain competitive against other digital marketplaces that already have this flexible payment process implemented. There have been concerns about this new method, such as eBay having access to buyers’ sensitive banking information. However, eBay has claimed that they do not have any direct access to a user’s bank account by any means. Inputting bank usernames or passwords will only be used by the bank, and eBay wants to extend more flexibility for buyers and sellers when completing their transactions.
The setup process for this new method is straightforward. All you need to do is confirm your current information on eBay’s website and connect your bank account to your eBay account. That’s all there is to it! No more added Paypal fees on top of eBay’s, and you can even designate payout windows to have all your money come in at once or as your stock is purchased. Reselling has never been quicker when your customers can purchase the items right then and there. Get your account connected today!