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.)