|Thu Nov 7 2013 20:44:15|
What Is Your Experience with eBay's New Immediate Pay Policy?
By: Ina Steiner
Thanks to eBay's new Immediate Pay policy, an item isn't actually "sold" on eBay until the buyer PAYS for the item. The intent of the policy is to make the buying experience the same as other ecommerce websites, eBay said. "This change will essentially eliminate unpaid items for eligible transactions and help sellers get paid faster."
However, it can be a bit confusing to buyers and sellers, because buyers click the buy button on an item, but it continues to be available to other buyers until a payment is made. It can also cause problems, as two sellers recently described.
The first problem is the impact of Immediate Pay on Best Offers. A seller explained she had accepted someone's Best Offer on an expensive item. "Except now when the buyer makes an offer and the seller accepts, the buyer gets something like 45 hours to "commit" and actually pay. The item is not sold until that happens."
"So," the seller continued, "now the buyer has "nibbled" and knows what amount I will accept, and is free to "think about it" and possibly try to negotiate a better deal with someone else. And I've committed to that price (a lower price than I've listed the item for) but don't have a sale. I think this is really unfair and there is no way to opt out."
The second seller explained she had run a fixed price listing with a quantity of five items. On the same day, three different sellers purchased the item. But one buyer used an e-check to send their payment.
"With the new BIN payment policy, apparently e-checks are being treated the same as non-payment. Her purchase did NOT reduce the amount of product available for sale, leaving the listing active. Someone else purchased them outright."
Now the seller has to explain to the buyer why they didn't get the item even though they sent an e-check payment, and she must open a transaction cancellation through the Resolution Center to get her eBay fees refunded.
"I am sure this is going to both anger and confuse the buyer. Their frustration won't be aimed at eBay - it will be aimed at me! This seems to be a rather large loophole in the new BIN policy, one which leaves e-check users at the mercy of timing. I can see a big mess and disappointment with holiday shoppers who have formerly used e-checks without incident!"
But aside from problems such as those described above, is the new process benefiting sellers by reducing deadbeats? Let us know if you've been impacted by the new process whether positively or negatively.