Etsy is expanding its own payments processing option for even more sellers in Europe with the addition of six countries.
Many Etsy sellers had relied on PayPal to process payments in their shops in addition to offering checks and money orders as a method of payment. Etsy first launched Direct Checkout on February 7, 2012, and it provides sellers a way to accept credit cards, debit cards and certain international payment methods. The use of Direct Checkout is optional, and sellers who choose to use it can continue to offer other payment methods in their shops.
Etsy Direct Checkout fees range from 3 – 4% of an item’s total sale price plus a transaction fee depending on the location of the seller’s bank. In the U.S., sellers pay 3% plus 25 cents.
The addition of Estonia, Greece, Italy, Latvia, Portugal, and Spain to the program this week brings the total number of countries to 22, offered in 10 different currencies. Other countries include Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Netherlands, New Zealand, Norway, Sweden, Switzerland, United Kingdom, and the United States.
Sellers discussing the changes reacted positively, in fact, sellers asked for Etsy to add additional countries – Brazil, Croatia, India, Israel, Malaysia, Mexico, Poland, South Africa, Taiwan, and Turkey among them. “Indonesia please… Hopefully it’ll be Asian countries next,” one seller wrote.
An Etsy moderator responded, “Morning everyone, glad to hear there’s a lot of excitement about this launch! In response to some questions about launching Direct Checkout in additional countries – we’re aware of seller demand for this, and we’re continuing to work on making Direct Checkout available in even more countries in the future.”
Another seller wondered, “So, does this mean that eventually PayPal will be eliminated?”
While the use of Direct Checkout is optional, sellers must accept Direct Checkout in order to accept Etsy gift cards. And Etsy protects sellers from unauthorized payment through Direct Checkout for the full amount of eligible sales up to $1000.
When buyers pay with Direct Checkout, Etsy collects the funds on the seller’s behalf and shows them in their account, less processing fees. Etsy automatically deposits the funds from sellers’ Shop Payment Account to their bank account every second Monday. Funds then generally take 3-5 business days to appear in sellers’ bank account, depending on the bank.