eBay issued an important update for sellers about Managed Payments. It currently has “thousands” of sellers enrolled and using Managed Payments, where eBay acts as a payments intermediary, and on Thursday it said it notified “many more” that it will begin managing payments for their accounts beginning late July 2020.
According to the update, sellers who miss their registration deadline – July 15th for many – will not be able to create new listings.
Note that on Wednesday, an eBay moderator had told sellers the company was experiencing high call volume from sellers seeking assistance with setting up their payments accounts, sometimes as high as 6 hours, as we reported on the AuctionBytes Blog.
Among the issues sellers are working to resolve: some say eBay is forcing international sellers to get US business accounts and Tax IDs when they don’t live or operate within the US. “We sell on Amazon and none of this is required,” one seller told us.
eBay’s Thursday announcement follows below:
As we continue to modernize our platform, managing payments is critical in that transformation. eBay will manage payments for most sellers in 2020. We are currently managing payments for thousands of sellers and have notified many more that we will begin managing payments for their accounts beginning late July 2020.
If you receive a notification to register, you will need to do so by the communicated deadline, which for many sellers is July 15th. This will ensure your business does not experience any disruptions after the deadline has passed. Sellers who miss their registration deadline will not be able to create new listings.
If you have been notified to register for managed payments but have not yet registered – it’s simple:
1) Visit: http://ebay.com/startpayments
2) Verify your information
3) Provide a checking account
4) Keep selling as usual
We are enabling registered sellers for managed payments in phases beginning late July.
After you have registered we will notify you of your activation date two weeks in advance. You may also receive a separate message to add or verify additional information.
All of the information shared during and after registration allows us to send your payouts and comply with Anti-Money Laundering (AML) and know-your-customer obligations, which helps keep eBay a trusted marketplace.
We protect your personal data through technical and organizational security measures to minimize risks associated with data loss, misuse, unauthorized access and unauthorized disclosure and alteration. To this end we use firewalls and data encryption, for example, as well as physical access restrictions for our data centers and authorization controls for data access.
Learn more about our data security procedures and how we ensure that the information you share with us is safe in our Security Center, and how we protect your personal information.
Running your business is simpler when eBay manages your payments, and buyers have more ways to pay. You can learn more about managed payments on Seller Center and additional information on fees is available here.
Please click here to register for managed payments now.
As always, thank you for selling on eBay.
Link to eBay Announcement Board post.