Seller alternatives to Paypal?
derryb
Posts: 37,673 ✭✭✭✭✭
In lieu of the new paypal policy of "no refund of seller fee" when item is returned/refunded it's time to start looking for an alternative.
Anyone have any feedback on ebay's new payment processing system or any other suitable alternative to paypal? I don't want to start accepting credit cards directly with my ebay account.
Let's talk alternatives and not our love/hate of paypal.
No Way Out: Stimulus and Money Printing Are the Only Path Left
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Can we accept USPS Money Orders again like the good ole days?
Ebay will be switching to Adyen next month as the main form of payment. Paypal will remain as a secondary option in the short term. Adyen's policies are more seller friendly with severe limitations on unapproved chargebacks:
https://thestreet.com/story/14470565/1/paypal-plunges-as-ebay-reveals-switch-to-new-payment-group-in-q4-earnings.html
not on ebay. Has to be an electronic processor or direct credit card acceptance by the seller.
No Way Out: Stimulus and Money Printing Are the Only Path Left
I think you can accept money orders or checks, you just can't put it in your listing. If a customer asks for other payment methods you can offer.
as a buyer how comfortable would you feel if a seller required a MO or check????
me, I would just pass and move to the next auction
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
I'll stick to PayPal for now as the Dutch are responsible for windmill cancer.
PayPal Holdings Inc. (PYPL) shares plunged Thursday,
E-check, it was Todd I think that sent me one of those, cheap and user friendly.
You can sign up for Google Payhttps://community.ebay.com/t5/Announcements/eBay-Managed-Payments-Now-Offers-Google-Pay-as-a-Payment-Option/ba-p/29681695
Interesting information, thank you all for sharing !!!
Google Pay will be part of Ebay's new managed payments program linked in OP that is still yet to be rolled out to everyone.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Has anyone read the fine print on their return policy?
https://support.google.com/pay/merchants/answer/6288989?hl=en
https://payments.google.com/payments/apis-secure/get_legal_document?ldo=0&ldt=buyertos&ldr=US
The Sender may request cancellation of the P2P Payment by calling GPC at 1-888-986-7944. GPC will use commercially reasonable efforts to cancel the P2P Payment upon request by the Sender. In the event that GPC is able to cancel the P2P Payment, the funds will be credited to the Sender's Funding Account, or Google Pay Balance, that was used to fund the P2P Payment. GPC may deduct applicable fees from the returned funds, to the extent permitted by applicable law. P2P Payments that have been completed as set forth in this subsection are ineligible for cancellation.
Not my cup of tea....
I do not know why Postal Money Orders would not be accepted... it was a major form of payment in the early years of ebay....and as for checks, the product was just held until payment cleared....It all worked well back then. Cheers, RickO
I think buyers feel it's a big pain to go to the PO, purchase a money order, address an envelope and mail it. Ebay and PP have made it seamless which the public wants.
Successful BST transactions with lordmarcovan, Moldnut, erwindoc
on ebay you have to offer the buyer an electronic means of payment, from there you can accept anything he offers, even turtles.
No Way Out: Stimulus and Money Printing Are the Only Path Left
How about ebay managment payment? 2.7% only. No refund fee, any one try it yet?
https://uservrfnonboardapp.ebay.com/onboarding?roken2=sa.p.b.g3931.con
I think most sellers would accept one here or there if the buyer wanted to pay with one, but if you have 100 eBay sales in a day then not so much. The buyer should be required to send a pic of the MO so that it can be verified as legit and not stolen.
Some people on other boards say that their bank won't accept them.
Agree. I used to have to go to the bank and/or post office EVERY DAY. I don't miss that trip. And it was a nuisance keeping track of what had cleared or hadn't. And try and cash a Canadian postal money order!
If you don't want to take credit cards or Paypal. Don't. I'm just not sure why this small change in policy would make a difference. I get 2 or 3 returns a year out of 2000 to 3000 transactions. Let's assume the transactions are all equally valued. That means my 3% PayPal loss on the return ends up being .003% additional cost on each item sold. Big deal.
Now, I can hear the counterarguments coming. What if I only sold 50 items and got a return? What if I sold all $10 items and the single $1000 item gets returned? Yes, that could happen. But if you insist on money orders on a $1000 coin, you are going to lose bidders/buyers. So you have to balance the cost of doing business with the revenue from the business. Make payment hard on your customers, the customers will make your life easier: you'll have fewer customers.
You are either in business or your not. If you are a hobbyist unloading a coin here or there, do it however you want. You are free to insist on cash only in a face-to-face transaction. Your privilege. But that is your preference not an indictment of PayPal for their legitimate policy change.
PayPal has to process TWO payments on an item sold and return. Each one of those payments carries risks to the company of having to settle a charge back. There is NO reason that PayPal should provide that service for free. They could, if they wanted to be friendly to me, their customer. But they have actually provided twice the service on a sale/return than they do on a sale. The return doesn't negate the original transaction, it actually creates a SECOND payment processing action.
And your suggested alternative when an electronic method is required by ebay is?
This small change in paypal policy makes a huge difference to a seller of $1,500+ coins on ebay.
No Way Out: Stimulus and Money Printing Are the Only Path Left
I think this PayPal policy would be a little more palatable if they only charged maybe 1% on the return instead of the full fare. If you calculate the total number of returns processed through PayPal it doesn't justify the full 3% on the return in my opinion.
Successful BST transactions with lordmarcovan, Moldnut, erwindoc
Why should a return be treated any differently than a non return. Paypal provided thur service.
If you didn't like your breast implants and had then removed, should the original surgeon refund the money and the second surgeon do it for free?
No, still .003% for me as I only get about 1 return per 1000 coins.
Even if your return rate is 1 in 10, that's still only 0.3%.
doubling the fees for returns is not a small change in policy. It would only seem fair that the person receiving the return of funds (the buyer) should pay the additional payment processing fee. After all, the initial fee was paid by the seller who received the initial payment. Receivers of funds via paypal should pay the processing fee.
No Way Out: Stimulus and Money Printing Are the Only Path Left
They have NOT doubled the fees for returns. They are simply not refunding the fees on returns
When I signed up for a PayPal account, they advertised that that service was free.
I wasn't clear. I pay the fees all over again when I resell the returned item. I end up paying the fee twice.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Well, you end up getting 3 services, so it's actually a 33% discount!
And that's why they issue changes to terms & conditions and why you can opt out at any time.
Advertising your service as "always free" and then changing your terms so that you can start charging a fee is just a little bit dishonest, don't you think?
Why can’t paypal cap the fee? If I sell a $1,500 item, why can’t paypal cap the fee at $10 for example, instead of keeping the 2.7% or $40.50 if there is a refund?
@jmlanzaf You sure do toot the horn for all the increased fees sellers are facing from ebay and paypal. Are you a major stockholder????
I only get two services and one of those if for processing the payment twice for the same item. The buyer returning the item gets the third service. . . like I said, let him pay that fee.
No Way Out: Stimulus and Money Printing Are the Only Path Left
I'm not tooting the horn for anything except reasonableness.
I wish every bill I had was lower. But people are making a mountain out of a mole hill on this one:
1. Most CC processors do the same thing. Some even charge an additional fee for the return.
2. It's not an increase in the base fee which would impact everything sold. It is only a fee on returned items which, at least in my experience, are a very small number of sales.
So, do I wish PayPal was cheaper and there was free returns etc. Sure. But this change is hardly grounds for jumping ship on PayPal when it will cost me a grand total of 0.003% more per item
Did they advertise it as "always free" to merchants or "always free" to buyers? I don't recall PayPal every being free to merchants.
When PayPal started, there was no such thing as a merchant. From the Wayback Machine, PayPal in 2000:
PayPal makes your auction payments quicker, easier and more secure than ever before. Buyers can now make instant payments and sellers can now accept payments from anyone with a credit card. Best of all, the service is completely FREE.
AUCTION SELLERS
Buyers pay with Visa and MasterCard
Receive money instantly
Use on any auction site
Get $5 just for signing up and $5 for each buyer you refer
ALWAYS FAST, FREE AND SECURE
Yes, I remember the $5 bonus. I got one. I don't remember, however, what was free and what wasn't. PayPal certainly wasn't eating the CC fee. I think I remember that PayPal balance transfers were free but not CC payments...but it was long ago, in a galaxy far, far away.
Of course, that is not the same company as the current PayPal.
Those were the days!
When PayPal started, there were no fees for anybody and as noted above, claimed to be "always free". Once they got enough people signed up and used to using the service, they created merchant accounts, which included fees. They claimed sellers would not be required to convert to merchant accounts, then went back on that claim and forced all sellers into fee based accounts.
I don't have a problem with a business charging for services, but I think bait and switch is a cheesy business model.
I really don't recall CC payments being free, but it was a long time ago. I do remember PayPal balance transfers being free and I was annoyed when those started to have a fee because they were basically charging a fee for doing nothing except moving money around internally in their own system.
If I were you, I'd close your account in protest.
Starting in June if you carry any balance on PayPal like say those 6 months to pay thingers , not like before, they are reporting to the credit bureaus.
Ebay charges sellers too much, is true, and this is causing the price of coins to spread too much.
This "hobby" is dying a rapid electronic death.
Frig buying coins let's collect US Mint made change rarities.
It looks like eBay will be taking care of that soon, but thanks for the suggestion.
LOL. It will be interesting to see how eBay digital payments platform evolves over time. You've got Apple Pay, Google Pay, PayPal, Venmo, Verisign...
I wonder how much this is going to cost GSC and other super high volume non-disclosing problem coin sellers... surely they get lots of returns.
Collector, occasional seller
Seems like a big hassle but eBay apparently wants to handle it. Another step in their quest to isolate buyers from sellers, I suppose.
It's a necessary means for eBay to give buyers the opportunity to use the platform of their choice.
Not only that...their next step trying to emulate amazon. They will then control your money again. I expect them to phase out paypal as quickly as possible and require all but the biggest sellers(those who have their own CC processing) to use their processing. They will dangle a low rate with perks in the beginning and then start squeezing the turnip.
Immolate or emulate?