Ina Steiner EcommerceBytes Blog
News and insight focusing on ecommerce.
by Ina Steiner, Editor of EcommerceBytes.com
Fri Mar 11 2022 10:49:52

eBay Digital Wallet: What's In It for Sellers?

By: Ina Steiner

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Sellers will be able to pay for selling expenses using the eBay Digital Wallet that was announced at yesterday's Investor Day. And eBay is giving sellers more options in how they receive payouts, promising faster payout options and new payout providers.

eBay's Chief Growth Officer Julie Loeger gave a presentation on payments to investors and Wall Street analysts during the March 10th virtual event. 

Some of the features she announced had been available to sellers through PayPal prior to eBay taking over payment management, prompting an EcommerceBytes reader to comment, "Of course it's a good idea to go back to how things were but I think they have taken too long, missed the boat, people have moved on, and habits have changed."

Nevertheless, sellers should study the new options with an open mind and evaluate how they impact them individually. Loeger told analysts that with the eBay Digital Wallet, "earnings will be available almost immediately." 

- With the eBay Digital Wallet, sellers will be able to use proceeds from their sales to fund eBay purchases.

- Sellers will also be able to use sales proceeds stored in the wallet to pay for selling expenses. 

Those are key features, though it's unclear if sellers will have access to the wallet on desktops, or if it will only be available on mobile devices. While some sellers will likely welcome the ability to make purchases from their sales proceeds, others rely on cashback rewards offered by credit cards - it doesn't appear the wallet will help those sellers.

Sellers may not have to wait for the wallet to see all of the promised benefits eBay will be rolling out. Loeger said, "This month, we'll be offering on-demand or scheduled payouts, including options for monthly, biweekly, weekly, or daily." (Note that a slide included in her presentation showed that selecting daily payouts would disable on-demand withdrawals.)

"And later this year," she said, "sellers in a rush will have the option to send available funds directly to their debit card within 30 minutes for a fee." (Note the operative word, "available" funds.)

When will the eBay Wallet launch? Jordan Sweetnam indicated in a post for sellers it would launch next quarter - that could be April, May, or June.

Let us know what you think of the eBay digital wallet from the seller point of view. (We have more about new features for buyers, stay tuned.)



Comments (33) | Leave Comment | Permalink

Readers Comments

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

by: bpm This user has validated their user name.

Fri Mar 11 11:49:44 2022

"sellers in a rush will have the option to send available funds directly to their debit card within 30 minutes FOR A FEE".

In the UK (and EU) we've had this for years, for no fee; any account, to any account, in minutes. Why do Americans put up with such rubbish infrastructure?

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This user has validated their user name. by: COVID-19

Fri Mar 11 14:33:44 2022

Another scheme to benefit eBay, not sellers.

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

by: BatmanOfOz This user has validated their user name.

Fri Mar 11 19:16:26 2022

"What's in Your wallet?!" If it's ebay...Nothing but Lint!  They already have their hands in my Bank Account...I'm Not letting them reach into my Back Pocket!

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

This user has validated their user name. by: Bill

Fri Mar 11 23:44:12 2022

The only way I will sell on eBay again (after I quit after selling on there for 22 years) is when they allow PayPal and stay out of my cash.
eBay is run by the scum of the earth and to have to have them fill a debit card for a fee is the height of their greed.
Screw eBay!!!!

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

by: Snapped This user has validated their user name.

Sat Mar 12 08:13:32 2022

‘Innovative’ plagiarism!  Faster, better, stronger, new, improved, flash bang whizz!

What’s “in it” for sellers?  Well, whatever ‘it’ might be, it’s way less than any effort that could be spent by eBay to fix the voluminous laundry list of actual discontinuities that have been ‘promised’ by all those ‘teams’ who’ve been ‘working hard’ might produce.  Now THAT would be worthy of an investor newsletter headline.  

P.S. geniuses - your new upper crusty target demographic doesn’t NEED your ‘beneficial’ assistance in this.  And the vast majority of those who might have found it useful have already been dissed out the door.  

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

by: BatmanOfOz This user has validated their user name.

Sat Mar 12 17:10:19 2022

"The only way I will sell on eBay again (after I quit after selling on there for 22 years) is when they allow PayPal and stay out of my cash.
eBay is run by the scum of the earth and to have to have them fill a debit card for a fee is the height of their greed.
Screw eBay!!!! "
Yep!  I am watching the last 190 of my 650+ listings End in a few days, and then I too am Done!  They have continued to take the Joy and Fun out of selling here, never realizing that They are nothing more to us than the dusty parking lot that lets Us Sellers Do All The Work for Our Customers! I am selling in The Real World now, and Enjoying, once again, actually interacting with People! I am 'Virtually' Finished, but 'Literally' Thriving!  :)

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

by: I Must be Crazy This user has validated their user name.

Sat Mar 12 18:57:40 2022

Dear eBay executives,

This has been done before. Ever heard of Paypal?

Mark my words, every seller will be required to own a wallet at which point eBay will be generating revenue on funds coming, going and everything in between.  

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

by: pace306 This user has validated their user name.

Sun Mar 13 22:14:44 2022

eBay digital wallet = we hold your funds and make interest on it (and keep it) then if you sorta kinda want it - maybe we will give it back to you ...

wow - they must really think we are dumb - its just another cash grab + a solution in search of a problem!

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

by: Hobbiton This user has validated their user name.

Mon Mar 14 00:25:46 2022

I can confirm bpm's experience. Other auction sites intentionally don't place themselves between the seller and buyer after the auction, except to provide the details for both parties to complete the deal. You give the buyer your bank details and they pay you the seller directly by online banking. Some auction sites have payment gateways so small scale or part-time sellers can accept cards (for a few often below what PayPal charges). Trust is based on past sales and purchases with negative reviews available to both parties.
eBay has skewed their platform against the very sellers who provide all of eBay's income and now want to "hold" funds in a wallet. I'd no more trust eBay than I do PayPal to safeguard any of my funds.

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

This user has validated their user name. by: Marie

Mon Mar 14 00:42:09 2022

There is nothing unusual about charging a fee for an Instant transfer.  

Seller's have been asking for this ability and yet Ebay is going to provide it and still you complain.

I suppose the fact that they are going to allow Daily, Weekly, BiWeekly or Monthly regular transfers for a seller, there must be something wrong with that too.

They had 18+ Million sellers to get onboarded to the MP program.  That takes time and they really needed to spend more energy on doing that than working on enhancements to MP.  But even in doing that, the onboarding of sellers over the past 18 months really had a whole lot of self inflicted issues by Ebay.  Far too many for my liking.

Finally most of us are on the other side of that and now we are starting to see some improvements to MP that many sellers have been asking for over the past 18 months.

Speaking for myself only, I like the new options for receiving payments and I'm very glad they will soon be available.

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

by: wedding belles This user has validated their user name.

Mon Mar 14 05:29:34 2022

I was one of the UK sellers who refused eBays bullying demands to sign up for managed payments. I saw no business reason for me to cease using PayPal when it remained available during the transition period and went to court to prevent eBay from continually limiting my ability to list  new items and revise existing listings, whilst still charging me full price for the subscription shop. eBay kept promising to stop the restrictions and regularly admitted that the restriction was in error until finally in 2021 I went to court for an injunction compelling eBay to stop interfering with my shop. September 2021, I telephoned customer support Dublin told them about the injunction hearing in October, she advised the restrictions were imposed automatically by the search engine, flicked a switch and all was fine. October injunction hearing, 10 days before eBay took down my shop and all 895 listings. Now eBay has 100%n  control over the sellers who now receive " earnings not the proceeds of sales" eBay has increased the fees which in UK attract VAT. What began as a brilliant concept partnered by PayPal ( bank) for security in UK is now a moneymaking opportunity for the huge staff at eBay. It wasn't broke but eBay had to " mess it up" and bully sellers into accepting managed payments far inferior to PayPal so now I am going it alone with my own purpose built website paid for by eBay with PayPal as the payment processor . No adverts , not to make money but because I enjoy it as a hobby in my retirement. The case against eBay is ongoing. eBay have two barristers against one little old lady aged 75. eBays barristers and Dublin staff not only lied to me they lied to the court claiming that PayPal had ceased to process payments on eBay, negated by a Black Friday invitation sent by eBay to me which included payment processing by PayPal. eBay's barrister eventually admitted that the restrictions were all imposed re clause 4 abusing eBay. eBay also instructed PayPal to place a hold on the balance in my PayPal account re Clause 11 of the User agreement. I was a top rated trusted seller with 100% reputation. I could not trust eBay one iota now. Sellers are simply the " army on the ground" feeding the capitalist "Putin" destroying all who fail to fall in with the eBay creed.  

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

by: redqueen170 This user has validated their user name.

Mon Mar 14 06:23:21 2022

I cringe when ebay says they are going to do something wonderful for sellers.  

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

by: eastwestphoto This user has validated their user name.

Mon Mar 14 07:43:50 2022

will I be able to accept crypto currencies?  

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

by: Nothingnewecrater This user has validated their user name.

Mon Mar 14 11:43:58 2022

Less and less transparency for sure. So glad I quit using that site after 24 years of mental abuse

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

This user has validated their user name. by: Marie

Mon Mar 14 13:24:53 2022

@wedding bells

I can't imagine that you will win your case.  If that were to be the case, then they would have to go after Amazon, Etsy, Mercari, Poshmark, Offerup and all the other sites that require sellers use their money processing programs.

The black Friday advertisement was likely for buying not selling.  Buyers are allowed to use PayPal on Ebay still, it is sellers that can't use PP as their money processor anymore.  

I wish you nothing but the best.  Change can be very hard for a variety of reasons.  

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

This user has validated their user name. by: Marie

Mon Mar 14 13:27:37 2022

@Nothingnewecrater

I think you are absolutely correct on many things and some things related to MP as well.  But there are quite obviously other things that appear to be more transparent to many sellers and that is the fees they pay to Ebay.

There has been a whole lot of long time sellers come to the threads outraged that they have to pay a FVF on shipping now.  As if this was a new unannounced changed.  This is because fees are easier to see in MP than they were before on the monthly invoices.  And these sellers never realized that for over 11 years they have been paying this fee.

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

This user has validated their user name. by: The End

Mon Mar 14 15:50:59 2022

Just went to Ebay for the first time in Weeks....
ALL THE GOOD STUFF IS GONE ! ! ! !
Absolutely everything I used to purchase is gone.
Such a disappointment.
If I had to point the finger, I'd say the Ebay rules finally literally turned the sellers  off.

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

by: pace306 This user has validated their user name.

Mon Mar 14 16:03:39 2022

MP has done nothing for sellers- just for eBay.


Some here think it’s just business as usual - eBay is just like everyone else - except they aren’t.

No one asked for it, no one wants it.

If eBay wants to increase revenue- then let the sellers they hide make sales.

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

by: lancecorp This user has validated their user name.

Mon Mar 14 18:43:32 2022

I would never use the digital wallet - if there is a problem - who do you talk to? Some outsourced call center rep who only knows how to read from a book? As stated - the sellers it would have helped have already moved on.

And Marie - you have always had sellers coming to the boards and discussion groups complaining about changes made years ago that they never realized happened - whether it be fees on shipping or not being able to leave neg feedback for buyers. If Ebay is working for you - that's great - quit trying to trivialize the problems others have had with the platform. It's really not your concern and if you are so busy as you claim - you wouldn't have time to be Ebay's defender.

Perminate Link for eBay Digital Wallet: What's In It for Sellers?   eBay Digital Wallet: What's In It for Sellers?

by: Vigilant Eye On eBay This user has validated their user name.

Mon Mar 14 20:39:13 2022

@Bill and @BatmanOfOz

+1

It is much more profitable and far less stressful selling on your own ecommerce site.

With free Goggle merchant advertising, individual seller sites now get the same Goggle Shopping page exposure as eBay does.

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