Right now, most eBay sellers receive payments immediately into their PayPal accounts. But as eBay transitions to take over payments itself, sellers will have to wait for disbursements from the marketplace just as they do now on Amazon, Etsy, Walmart, Jet.com, and Newegg. And that can lead to cash flow problems.
Some sellers turn to services like Payability to get quicker access to their funds (and even advance access). Payability’s head of business development Kevin Weeks said they’ll explore expanding services to eBay sellers as well.
“At Payability, our mission is to provide friction-free growth capital to all ecommerce sellers, and eBay sellers make up a sizable portion of that universe,” Weeks said.
“To date, we’ve been laser focused on working with marketplaces that intermediate payments, such as Amazon, Walmart, Newegg and Etsy,” he said. “As eBay has started to move towards a managed payments model, Payability is in a great position to offer growth capital to their sellers.”
Weeks said he didn’t have any knowledge about whether eBay’s managed payments model will result in longer payout times comparable to Amazon’s two week cycle, or more frequent payouts like Etsy offers, but, “Either way, Payability will be able to offer growth capital to eBay sellers in the future.”
Last week, Payability launched the Payability Seller Visa Card, the first card that gives online sellers faster access to their marketplace payouts.
In its announcement, the company said, “With the Payability Seller Visa Card, marketplace payouts are available for use more quickly than ever before, finally catching up to broader industry standards. From restocking inventory, to spending on advertising, to capitalizing on the next great buying opportunity, the Payability Seller Visa Card allows merchants to conduct business with zero lag time.”
The Payability Visa card also provides 2% cash back on purchases, and Payability has negotiated exclusive cash back deals of up to 20 percent off from companies that can help sellers grow their ecommerce businesses.
You can find more information about eBay’s transition to managed payments in the EcommerceBytes Update newsletter.