eBay Bans PayPal in Early Payments Beta

by: bpm

WTH? No Paypal, no 3rd party tools? Seriously? In the current Ebay sales climate (near freezing!) this is going to send the Ebaypay early-adopters out of business, surely?

Also, Toolguy - sorry to hear about your sales (mine are down about the same in the last 3 months too, and I expect this to be my last month on Ebay). Even more sorry to hear you're an early adopter of their clusterfug payments processing, with no opt-out.

by: Number 6

When the half a dozen hapless sellers left on ebay in a few year time are finally forced into 'eBay payments' by Adolf Wenig after Paypal's contract ends...what's to stop eBay raising the 2.7% fee whenever it feels like it?

by: Silver Ice King

@pace

In regards to the Paypal spin off, Ebay never wanted to have that happen and fought Carl Icahn on it all the way.  Ebay knew that this was their cash cow and that when they lost that revenue all of their weaknesses were going to be exposed.  Carl Icahn also knew that which is why he forced it down their throats.  He understood how Ebay was hindering Paypal and what they could do if they were out from under, to quote Ichan '' the most grossly mismanaged company he had ever seen''.  Well now Paypal has shown what they could do without Ebay hindering their growth and Ebay has shown that Icahn was right about their management skills.  In fact the day that the spinoff happened, Icahn sold all of his Ebay stock and took all the revenues and bought more Paypal stock which has almost tripled in value in the 3 years since the split.

As for how Ebay is going to handle the SNAD's and returns, I fully agree that EBay is going to cave on everything and you better believe that they are going to pass through every expense that they can to the sellers who have those issues.  Paypal has been a thorn in their side since the split and this will allow Wenig to give away all of the Sellers money because he still thinks that we make to much for what little work we do and that Ebay should benefit more for their services.  He also thinks that buyers should benefit from lower and lower prices because he has stated that Ebay plans on pursuing the bottom 40% of the population as far as income.  He sees that this has worked for WalMart so it should work for EBay.  What he forgets is that Walmart owns their merchandise and inventory so they are not leaching off of others to get their revenue.  They actually buy and sell goods, where all Ebay does is leach a fee from Sellers who they do all they can to destroy, which I still do not understand.  Obviously Wenig skipped school on the days that they discussed having a viable product to sell to the public when you operate a business.  Wenig forgets that Sellers have to live on what they make after Ebay takes their share (which they keep trying to increase despite a platform that is constantly failing due to lack of talent at Ebay from the Top to the Bottom.  Any employee who actually has any talent and ability is getting out of EBay as quickly as they can before they watch their careers end due to Ebay.

If Ebay forces the payment intermediary on me before 2021 when they are allowed to go 100% I will close my account and store instantly and block them from getting any money from my accounts for the early termination penalties as I will consider that a gross change in the contract which allows me to opt out of the store contract.  I will pay all fees that i owe as i still have no problem paying Ebay for the FVF because that means i had sales, but there is no way they will ever get an early termination fee from me if they force me into that program early.   i do believe that they are going to find it difficult to keep a good test data base going if all of these changes that have been mentioned are true.

by: Silver Ice King

@Pace

BTW - I responded to your last comment about Laura Chambers on that thread in case you did not see it.  I had missed your post for a few days.

by: RL15

this is hilarious!! all the cheerleaders were patting themselves on the back that they got invited (and then accepted) to the beta test now are crying like a baby.

how anyone still thinks that fleacebay is their trusted partner is as delusional as the delusional ceo

by: pace306

Sparrow :)

Ive long said that besides the money grab aspect of Adyen, its an easy way for eBay to assert control over ALL aspects of the returns issue(s).

eBay can now FORCE 45 or 60 or 120 or 180 or anything else it wants.

You cant go to Paypal - there "is no Paypal" anymore (in that respect).

eBay still hasnt answered:

1) will sellers be required to have a reserve (for returns)
2) will they be miroring Paypals 180 day policy
3) is Adyen involved with ANY CS issues

Of course (well .... people here will do it - dunno about others) you need to have 2 accounts - or eBay will debit it AT WILL.

So much eBay drama for so little sales .... at least on Amazon - you get similar headaches - but at least you make sales

by: pace306

Silver - sorry if I missed your reply - my post said that I take your word (since you knew more about it then I) on the subject.

All I know is that "every time someone says SELLER ADVOCATE" I never see any results....

by: pace306

Silver - you said "In regards to the Paypal spin off, Ebay never wanted to have that happen and fought Carl Icahn on it all the way.  Ebay knew that this was their cash cow and that when they lost that revenue all of their weaknesses were going to be exposed.  Carl Icahn also knew that which is why he forced it down their throats.  He understood how Ebay was hindering Paypal and what they could do if they were out from under, to quote Ichan '' the most grossly mismanaged company he had ever seen''.  Well now Paypal has shown what they could do without Ebay hindering their growth and Ebay has shown that Icahn was right about their management skills.  In fact the day that the spinoff happened, Icahn sold all of his Ebay stock and took all the revenues and bought more Paypal stock which has almost tripled in value in the 3 years since the split."

%1000 correct - I remember reading about it - Icahn knew that eBay was the dog in that marriage.

"As for how Ebay is going to handle the SNAD's and returns, I fully agree that EBay is going to cave on everything and you better believe that they are going to pass through every expense that they can to the sellers who have those issues.  Paypal has been a thorn in their side since the split and this will allow Wenig to give away all of the Sellers money because he still thinks that we make to much for what little work we do and that Ebay should benefit more for their services. "

EXACTLY right :)  

by: eBay Shill Buster

Devin has never heard the old saying money talks and BS walks, well sellers are walking away from eBay because they have a non-performing marketplace, many sellers are refusing to pay .35 cents to relist unsold items since they are seeing 1-2% inventory turns per month.

Devin thinks sellers are going to cave in due to his pathological lies, the latest is how he is going to triple eBay's business by bringing in 500 million buyers.

Now he is paying all those buyers 5 bucks to reactivate their dormant accounts, in other words a large percentage of what eBay calles buyers really do not exist any longer, they have not logged in for years.

Wall Street now knows they are dealing with a massive fraud at the top of eBay, the numbers do not lie like Devin does, across the board eBay's numbers are down and declining, so for the man to sit at eBay open and tell sellers who know better that sales are going to triple is Devin trying in vain to hang on to his job.

by: FidoMaster

Tool said, ''My new business plan: Get away from ebay as fast as I can.''

Good grief. I'm waiting for Rod Serling to walk around the corner.

You know when Wenig's biggest fanboi says it's time to GTFO that means SERIOUS BIDNESS!

~~~~~~~~~~

The coup de gras play here would be for PayPal to pick up Adyen...

...and of course eventually even ...

;)

by: eBay Shill Buster

FidoMaster, you may be aware of the deal eBay cut with Adyen before they went public, that if eBay funnelled a larger percentage of traffic through them that eBay would own 5% of the company, really this is simply Devin doing anything he can to hang on to his job, even he knows he has completely ruined the marketplace, so does that fraud of a CFO.

They are simply trying anything to cut deals since they know the marketplace is failing, they could not care less about sellers or their issues with replatforming.

by: Silver Ice King

@Pace

All I know is that ''every time someone says SELLER ADVOCATE'' I never see any results....

You are right on the money with that, especially when speaking about Ebay.  Since Donohoe came to power Seller Advocate has been worse than all the 4 letter words combined at Ebay and was punishable by exile to the worst possible positions.  That is why Hal Lawton left so quickly, he saw the culture and the lack of morals at Ebay and got out of Dodge before it affected his long term career goals.  Those that remain at Ebay now are nothing more than Yes men and future fall guys for Wenig.  If the BOD ever wakes up and replaces Wenig the next CEO is going to have to clean house and bring in all new executives, if any good ones will take the chance on working for EBay.  The name may be so synonymous with failure that no good executives will touch it in any shape, form or fashion as the name will be a career killer.  

Anybody who is not out now will go down with the ship and the crazy captain who  obviously cannot handle being told that he does not know anything, let alone everything like he thinks he does.

by: Number 6

FidoMaster

You say 'The coup de gras play here would be for PayPal to pick up Adyen...'

No sooner said than possibly done...

''PayPal has said it intends to expand by acquiring other companies. Of course, PayPal isn’t going to come right out and say, “Yeah, we’re about to write a big check to buy Company X.” That’s not how deals occur when publicly traded companies are involved.

But, if there is a company that could fill some of PayPal’s needs, a possibility could lie over in the Netherlands, in the form of a payments processor called Adyen. Condra said that Adyen might be an attractive acquisition option for PayPal''

The Mercury News, June 8, 2018

by: Rexford

Thank you Silver Ice King and Lightning.  I appreciate your comments.

by: eBay Shill Buster

Number 6, I think it is too late in the game for PayPal now, the cost would be staggering to acquire Adyen now, they should have moved two years ago.

by: eBay Shill Buster

https://www.google.com/search?q=adyen+ipo&rlz=1C1IPOA_enUS737US737&oq=
Adyen&aqs=chrome.1.0l6.3952j0j7&sourceid=chrome&ie=UTF-8

The company already conducted their IPO and would most likely take a very high percentage of PayPal's market cap to purchase.

by: Number 6

eBay Shill Buster

Perhaps Ayden will buy Paypal then!

That'd be funny...

by: eBay Shill Buster

Any thing is possible, Zuckerberg owns a piece of it, so it would cost a fortune to acquire the company.

 https://www.cnbc.com/2018/06/13/adyen-ipo-everything-you-need-to
-know-about-the-8-billion-fintech-company.html

 In its IPO, Adyen is not selling new shares. Instead, its shareholders are selling their stock, which amounts to 13.4 percent of outstanding shares.

The largest shareholder is early backer Index Ventures which invested in Adyen in 2011. It owns 16.86 percent. General Atlantic is another major backer with 10.82 percent of the company. Adyen also managed to get funding in 2015 from Iconiq, a highly secretive wealth management firm that manages investments for the likes of Facebook boss Mark Zuckerberg. While it was a private company, Adyen had raised around $266 million from various investors.

Late on Tuesday, Adyen set the price for its IPO at 240 euros per share, which was at the upper end of the range the company had previously issued. This gives the company a market capitalization or valuation of 7.1 billion euros ($8.3 billion). Adyen's last valuation that it disclosed was $2.3 billion in 2015.

Shares of Adyen will begin trading on the Euronext in Amsterdam where they will be listed under the symbol "Adyen".

by: pace306

....... you have to assume that eBay dangled their 500 gazillion seller business to Adyen to get their business ... wait till they realize they have been fooled.

Paypal has already made 4 acquisitions this yr - I doubt they have any more cash left to buy anyone.

Im sure Paypal still smarts from being kicked to the curb, especially after all the dirty work eBay forced them to do up until now.

I highly doubt that Adyen will do ANY cs work - they will probably be totally invisible to sellers - just a website to log into to check your balance ... maybe. I wouldnt put it past eBay to create a special portal thats quite limited as far as funds go - this is eBay after all. (and as stated before - that worries me).

I mention it due to "an incident" that I had with them over a "late shipment" and its removal.

Item was purchased on Sunday, label printed Monday morning, dropped off at the PO Monday afternoon, wasnt scanned till Tuesday morning (apparently, post office workers due have the right to actually go home to their families - who knew? I called and asked "what would you have wanted me to do ... break into the PO after hrs and scan it myself?  go to the postmasters home and held his wife hostage till he went there and scanned it?

eBay LITERALLY (stupid overseas CS agents) told me "too bad - STFU" " you should have stood there and DEMANDED they scan your package in front of you and if they didnt - refuse to leave the premises aka tresspass".

THATS the kind of CS you get from the San Jose mafia - I was lucky that that "late" package didnt effect my standing .. but what if it would have????????

How much worse will it get when its just the poor hapless seller vs the devil (wenig) ?????????

Seller Advocate my you know what ... oh and they arent attending NY NOW - thats another show they will miss - along with last months CE NOW show - both in NYC (Javitts Center).

DOPES

by: maxmad

it's going to be messy, every payment gateway will have their own set of policies for chargebacks and fee's, , and ebay will most likely pick the worst case scenario to use to charge the sellers, highest fee to ebay, + profit will be the sellers fee, regardless if the buyer pays with a lower fee gateway.

Once ebay is in full control of payments, it will be even worst for sellers

After the paypal deal, ebay will be scrambling to make up the profit loss from paypal , and given their track record, it's going to cost a lot more if you want to sell on ebay.

This company was burned by The Ho, and Wingnut is just bulldozing it to the ground, it will never recover, , it's all down hill from here.