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Ina Steiner EcommerceBytes Blog
News and insight focusing on ecommerce.
by Ina Steiner, Editor of EcommerceBytes.com
Tue Apr 11 2017 13:52:05

Is Etsy Right to Force Sellers to Offer Etsy Payments?

By: Ina Steiner
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Etsy is requiring all sellers to accept Direct Checkout, which it is rebranding "Etsy Payments." Sellers who don't set up Etsy Payments will have their selling privileges suspended on May 18. 

Etsy says it wants buyers to have a consistent experience when they check out on Etsy, though it's also important to note this is a revenue generator for the company, which went public 2 years ago this month. "When a buyer pays using Direct Checkout, we'll deduct a payment processing fee before depositing the funds into your bank account. This fee varies by location of your bank and can range from 3-4% of an item's total sale price, depending on your country."

Here's today's announcement from Etsy - let us know what you think of the new policy.

Starting today, Direct Checkout has a new look and a new name. Etsy Payments allows you to accept multiple payment methods, including credit and debit cards, PayPal, and gift cards. It's also more flexible, stable, and secure than ever. 

Because we want buyers to have a consistent experience when they check out on Etsy, we're requiring that all sellers in eligible countries set up Etsy Payments by May 17, 2017. If you don't set up Etsy Payments, your selling privileges will be suspended on May 18. 

If you're already using Etsy's payments platform, there's nothing you need to do. If you only accept payments through PayPal or manual payment methods, you'll need to set up Etsy Payments by connecting your bank account and verifying your identity. If you currently have standalone PayPal in your shop, you can still choose to keep your PayPal sales separate.

Keep an eye out for an email detailing what this means for your shop. Or visit our information hub to learn more about Etsy Payments here: etsy.com/payments 

Note: The payments page was unavailable for us when we checked it this afternoon before publishing.



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This user has validated their user name. by: MainelyVintage
       Web Site
Tue Apr 11 14:02:58 2017
Thanks, as always, Ina, for the timely update!

You could see this one coming : )
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by: ssweet This user has validated their user name.
       
Tue Apr 11 14:27:57 2017
I would gladly move completely to etsy payments and abandon PayPal if etsy offered the services paypal does.  Why doesn't etsy work on that instead of forcing sellers to use Etsy payments?
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This user has validated their user name. by: Ming the Merciless
       
Tue Apr 11 18:28:46 2017
Chad: one of The Ho's best students.
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This user has validated their user name. by: The End
       
Tue Apr 11 18:55:45 2017
NO. Respect should be shown to the artists. Let the artists choose the payment methods.
MEANWHILE : Etsy recycles photos of the same ole junk on its home page. They should be showing off the most collectible, popular, great selling stuff....like mine  ;o)
They can't complain about low revenue if they won't show the good stuff.
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by: ib30667 This user has validated their user name.
       
Tue Apr 11 19:21:51 2017
Well I guess I better raise my prices to compensate for those fees.
Always something. I'm probably better off doing local arts and crafts fairs in my area.  
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by: HappyOne This user has validated their user name.
       
Tue Apr 11 23:23:58 2017
Frankly any payment is good; I haven't had one sale in over a month. All my previous sales have been less than $10. To me there are many creative sellers but few buyers
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by: maxmad This user has validated their user name.
       
Wed Apr 12 07:56:05 2017
This is very nasty, we already closed one of our other accounts because of their direct checkout auto opt in scam, and now this,,,,

We won't be suspended, instead we will accept direct checkout, then completely remove all our products, and plaster our website links everywhere, just like we did with our other etsy account that we were scammed into accepting direct checkout, which is a glitch, and makes a total mess of our accounting, with funds being spread out in many locations.


These sites like etsy and ebay have no other forms of revenue, other then from their sellers, nothing else, they have no creativity in business, to find other forms of revenue, total stupid idiot shell, mindless companies with no direction, and no future. TOTAL LOOSERS.
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This user has validated their user name. by: RKTOYS
       
Wed Apr 12 08:38:11 2017
@Ming
Exactly.  What's right or wrong not even considered.  Rich corporation wants, rich corporation gets.  End of story.
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by: fifilapew This user has validated their user name.
       
Wed Apr 12 08:57:05 2017
etsy quote;

'Schedule your deposits

Set your deposit schedule. Most sellers choose to be paid weekly.'

weekly???? OMG....really!!!
do not fall for this 'weekly' BS

sure, let me allow you to hang onto my hard earned funds for an entire week and then a couple extra days to transfer to my bank account. How stupid do these clowns think we are?!
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This user has validated their user name. by: IDKwhoIare
       
Wed Apr 12 10:22:38 2017
Does anyone here use their payment service now?

Questions I have:

1.  Does Etsy notify the Buyer when there is a ''Delayed Payment'' or just us?

2.  Etsy says ''Funds generally take 3 to 5 business days to appear in your bank account'' plus they add another day for holding it until it is available to deposit (more if you are new).  Do they expect me to ship the item(s) before the money is in my account?

3.  If daily deposit is chosen, one also must have a minimum of $25 (U.S.) of payment(s) before they will process it.  How long do they expect to be able to hold it?  Indefinitely?  I cannot find that information on their site.

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This user has validated their user name. by: IDKwhoIare
       
Wed Apr 12 10:29:50 2017
This crap in the quote below and the previously posted questions is why I have never participated in their Checkout.  Why do they think it is okay to charge for such undefined & dubious service, not to mention the delays I have heard about over the years when they have site ''issues''.  The following CYA note from the Getting Paid with Etsy Payments page just burns me to no end:  

''Note: In some cases, deposits to sellers’ bank accounts could be temporarily delayed by an issue at Etsy, at Etsy’s third-party service providers, or at a seller’s bank. We always work hard to avoid and minimize any delays. We’ll do our best to communicate with the affected sellers as soon as we can. However, Etsy is not obligated to refund any fees or reimburse any expenses due to holds or delayed deposits.''

^^from https://www.etsy.com/help/article/3616#Q2
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This user has validated their user name. by: iheartjacksparrow
       
Wed Apr 12 10:42:21 2017
I have a question about Etsy's fees. They say for the U.S., the fee for using Etsy Payments is 3% plus 25 cents. PayPal's fees are 2.9% plus 30 cents. If you accept PayPal through Esty Payments, are the PayPal fees deducted from what is paid to Etsy Payments, or are both fees assessed (almost 6%) on a sale?
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by: glasspackaging This user has validated their user name.
       Web Site
Wed Apr 12 10:45:28 2017
I have enough to deal with keeping track of websites with 2 funding sources PLUS accepting paypal, amazon, walmart, jet  etc etc ...  I do not accept them forcing ANOTHER funding source I need to keep track of - one with KNOWN problems ... sorry  - I wrote them that the 17th is my last day on Etsy - I can live without them - but can they live without decent merchants - they are on a HUGE push for craft suppliers  - guess what I do ? Craft Supplies for cosmetics, food, olive oil/vinegards, kambucha, candles , etc etc etc ...  when will these companies ever learn ... ?  "Direct checkout" ?? .. sure paypal will still be shown - but where?
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This user has validated their user name. by: IDKwhoIare
       
Wed Apr 12 10:51:14 2017
As to the question of whether Etsy is right to force Sellers to offer Etsy Payments, my first instinct is to say 'Ell No.  

However, having been an abuse victim of eBay's, I know they can do whatever they want and all one can do is leave them.

Is it morally right?  No. We all know Etsy is not concerned about their Buyers or Sellers anymore than Ebay.  If Etsy cared about Buyers or Sellers, they would not throttle views of items, period.

They say it is 'not fair' that every Seller/items can't be seen when a Buyer searches for what they want, so Etsy 'helps' by shuffling some Sellers to the top of the search, now & then.  Fair my arse and now & then or some...please.

Etsy Payments is all about monetizing the site.  More fees and no extras for the Seller's money. Typical.
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This user has validated their user name. by: IDKwhoIare
       
Wed Apr 12 10:54:28 2017
@IheartJack

from the same page as the quote I posted above:

"When you use PayPal through Etsy Payments, you don't have to pay a separate PayPal fee."
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This user has validated their user name. by: iheartjacksparrow
       
Wed Apr 12 11:48:49 2017
Thanks, IDK, for the clarification.  
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by: DingDong This user has validated their user name.
       
Wed Apr 12 12:08:01 2017
Personally, I prefer to decide who I want my money coming from, but it is there site and they want money anyway they can, even if it's holding your monies for a few days of interest.

So glad I closed my account there.

They need to check their states transmitter rules when holding money
http://www.ecommercebytes.com/cab/abn/y12/m11/i08/s03
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by: glasspackaging This user has validated their user name.
       
Wed Apr 12 13:33:01 2017
just closed our account there - the csr wrote back the same gobblygook to me - all about how it was a better experience for the customer to allow etsy to collect the funds, rather than paypal.... ok ... so you have customers who are looking for our stuff - they will find us elsewhere - not for sure on  your site, as we were one of the few in our industry bothering there.
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This user has validated their user name. by: laurengrace
       
Wed Apr 12 19:11:23 2017
Well there are 49 pages of complaints about it since yesterday. They need to back off this. This is precisely why people moved from eBay and Amazon to othe platforms. eBay is just a shadow of it's former self. Amazon may be growing  but they have nothing to offer for unique items or the people searching for them. They are being compared to United Airlines today on customer service..Cost United Millions since last night..Risky business.
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by: MostlyArt This user has validated their user name.
       
Thu Apr 13 00:35:56 2017
I already have the etsy direct checkout and really hate for people to use it. You aren't even able to ask for your payment for a whole day, then they say "it's on it's way and may take 3 days for your bank to accept it" (paraphrased).

Why is that? How come PayPal gives you a payment the second the item is paid for?

It usually does take several days to get paid through Etsy, even if you are super vigilant about "scheduling" a next day deposit the first minute the site allows you to.

I still love PayPal for online and Square for shows.
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