eBay Responds to EcommerceBytes Piece on Managed Payments

by: hopeforthebest

''Just three weeks into our initial roll out... We have already managed more than $20 million in GMV (representing nearly half a billion dollars on an annualized run rate)''

As usual, crazy bad math on EBay's part: 20 million divided by 3 = 7 million per week X 52 weeks is $364 million a year, which includes a generous round up.

That's one heck of a long way from 500 million - like a 33% shortfall.

With this kind of math it's no wonder they raise fees and and still claim 'the lowest fees ever'.

by: eBay Shill Buster

Everyone be careful, Devin is going to sue everyone for exposing his fraud and lies.

Here is a whopper Devin told at eBay open....

"We heard you, we have pulled down all third party ads'

Bet that will stand up in court Devin like all the rest of the fraud eBay is committing on a daily basis.

No wonder you want to control the message and the messengers.

by: ebayout

As always, the BOGUS GMV number.
How much SHIPPING cost has not been subtracted?

by: The End

No, Ebay's rollout is half-baked.
Etsy's payment system just Showed Up one day. Been running smooth ever since.
Ebay talks too much.
Etsy just did it.

by: OnlyPollyPocket

"We are also committed to continuing to learn in order to iterate and improve the experience over time."

I don't want them "to learn" on MY dime!  What is it costing in sales?  In spite of their $7 million +/- a week, It would be interesting to know how many abandoned carts there have been due to buyers learning they cannot pay with Paypal.

They can claim whatever...the process, IMHO, still launched before it was ready if buyers cannot choose to use Paypal.  

I am just guessing but suspect Paypal can't be used until next summer because they are trying to figure out how to integrate it?  Then this should have been rolled out next summer.

by: DeathFromAbove

If not half baked, then "Incomplete"?  "Beta"?  "Payments Lite"?  What do we call it then?

by: DeathFromAbove

...oh and is there any online documentation on disputes, or "seller protection"?  I have still heard nothing about it.

by: hawk

lets put together a group of professional  business people to take over and manage ebays money , and see how fast ebay would SCREAM ILLEGAL AND CRIMINAL.

every seller should have the right to either be a success or a failure in there own business without out ebay believing they are so smart that they know everything about everybody. how arrogant !!!

by: Snapped

''We've also been clear that our primary aim is to deliver financial benefit, efficiency and convenience for our sellers.''

Every 'experiment' eBay undertakes claims that ''aim''.  Nothing eBay has ever actually done has ever hit that target.  No matter how long left in their greed stoked oven.

Meanwhile, how much interest has eBay pocketed from that $20M in GMV they've so 'altruistically' funneled?

''Our team is working hard to deliver for our community, and we'll continue to communicate progress as we proceed.''

eBay's 'team' is always claimed to be ''working hard'' on everything questioned.  Yet they never seem to get it done.  

As for it being 'their community'?  That concept died the day eBay declared that they knew better than anybody what was needed.  And they've been undermining it even more ever since.

Regarding eBay's 'communications'...is it really necessary to rehash all the hypocracy, obfuscation and sheer lack of effective communication over the past decade relating to that particular 'expectation'?  

Finally, only eBay would be arrogant enough to proclaim ''lowered cost'' for something they mandated (PP/electronic only; eventually MP only), as opposed to allowing a seller to chose what's the lowest cost for the seller - and by transferrance to that seller's buyers.  

by: sasikat9

Obviously Fleecebay is stinging from the backlash of rolling out a HALF BAKED IDEA that no one wants anything to do with. Only Honeville is the RAH RAH for it.

by: eBay Shill Buster

eBay's Public Relations team just does not get the fact that eBay sellers want NOTHING TO DO WITH DEVIN WENIG AND HIS MULTITUDE OF CRIMINAL SCHEMES.

When Devin says, "This is the only way you will BUY ON EBAY, or "This is the only way you WILL SELL ON EBAY, it simply turns sellers off to anything the man will ever say in the future.

eBay employees and the eBay Board of Directors can't sweep this moron out of the HQ building fast enough, Devin should have been fired 3 years ago.

by: pace306

Its not 1/2 baked - the cake is totally RAW.

If eBay doesnt like that description - I say - come sue me - not Ina, David or this site.

To be honest, Im not in eBay payments - I learned my lesson after being a test subject for GSP - which exploded like cheap fireworks at a fairground. But Im not stupid either - I can see the forrest for the trees. That coupled with the fact that eBay always lies - means that you simply just cant trust them, ever.

eBays explanation on the program itself - is a bold face lie. They are ONLY in it for 2 reasons, and the split from Paypal was an OPPORTUNITY for THEM to try and make a silk purse out of a sows ear, at their sellers expense.

1) the separation gives them the opportunity to keep the float, control their sellers, control policies they have no business being involved in - all things eBay covets (as they copy Amazon).

2) Amazon and Etsy do it - why "cant they"?

Only  1rst class DOLT would spend 10+ yrs and millions of dollars telling people how amazing and great Paypal is, only to dump "the entire scheme" and not tell anyone?

If Paypal is so great and they are the ONLY ones on the net that can be trusted ... why should anyone trust eBay Payments? ebay cant keep a sellers pictures from getting lost - should you trust them with YOUR financial info?

Where are the details of "a resolution process" ?? is there one? Is this all based eBays "stellar" cs agents - you know the ones that give out wrong info  (I just had an issue where it took 4 calls and 5 agents to finally all agree that eBays site was wrong and the customer DID in fact pay for their item - despite the fact that the site sais they didnt.

Something this big should have been sandbox tested, explained CORRECTLY to sellers and buyers - and rolled out during Q1 or Q2 - AND NOT Q4.

Hey San Jose Morons - $300 an hour and Ill help you fix your business.

by: Sierra

I agree with TheEnd. As a long-time Etsy seller, I remember how Etsy's payments platform, originally called Direct Checkout, just showed up one day. After about 6 months, they offered sellers one month free from payment processing fees to try and lure more sellers on-board. That's when I decided to try it ... and I remember that I didn't have a single DC sale the entire month! Since then, my Etsy customers pay about 50% Etsy Payments and 50% PayPal (I kept stand-alone PayPal).  

by: Sierra

Speaking of Etsy Payments, has there been any discussion here of Etsy's wacky new ''simplified finances'' arrangement? What do y'all think of that? I think it's going to be a hot mess.

Etsy says managed payments is the industry standard. Not sure why ... maybe because Amazon does it (and eBay is trying to)? ONE site doing it doesn't make it the industry-anything! Amazon deducts fees related to a specific sale from the proceeds from that sale; they charge separately for advertising. Etsy is deducting fees for Etsy Plus, Pattern, Promoted Listings, QuickBooks, etc. from sales which may not be directly related to those fees.  

by: Rexford

"Our team is working hard to deliver for our community"

Yep, they are delivering: heartache, stress, increased fees, glitches, returns, SNADS, never ending busy work, search that doesn't work, etc.

Sadly, they are not delivering sales. Thankfully I'm getting those elsewhere.

The "sellers are already benefitting from lowered costs" made me laugh.   When sellers aren't getting sales yes, there are indeed lower costs.  Lower fees, lower shipping, etc.

by: iheartjacksparrow

Devin must really be worried. Delaying third quarter financials, suing Amazon, sending "correction" letters to blogs....  

by: ebayout

ebay cannot escape irony....

As has been pointed out, the math in their response doesn't add up.
So...even their response was...ready?...HALF-BAKED.

by: Marie

@Sierra
Etsy's payment process is mandatory and was from the start.  Either you use it or you could not sell on Etsy.  They did have a few issues early on with the process, but while it was a bit hard for some, they fixed in within a couple of weeks or so.  Since then I'm not aware of any issues with the process.

Another difference with the Etsy process is that buyers can pay with PP.  Now Ebay says they will have this as well by this time next year.  But there is a big difference with the process Etsy offers.  

If a buyer wants to pay with PP, they can do so directly to the seller's PP account or through the Etsy payment process.  Buyer choice.

by: RL15

fleecebay doing what they do best...lies

by: CanBrit

Here is really why I love Etsy so much.

Total sale cost shipping not included $314.80

Total selling fees. Shipping not included $9.69