Ebay & Paypal Are Breaking Up

AndyOrr

AndyOrr

Experienced
I sold a nice Telecaster on Ebay last night. I had switched to selling on Reverb but their fees went higher so, after a few months of absence, I went back to Ebay. After the guitar sold, Ebay said "ship it". But, there was no money in my Paypal account. I contacted buyer to see if they were legit. He seemed like a real person so off to the web I went.

The new payment service is called Adyen... which, at first, I thought must be for customers in Japan because I'm apparently an idiot. Anyway, if you didn't know, you do now. My Paypal payment is processing and should hit my bank by Wed or Thursday of next week - almost a full week to get paid. Where is the fun in that?

https://www.ebayinc.com/stories/news/ebay-to-intermediate-payments-on-its-marketplace-platform/
 
FractalAudio said:
PayPal holds your money for as long as possible so they can make money off it by lending it.
Click to expand...

Losing the eBay biz must be a major blow to their projections. I bet the hold is exactly as you say: The longest they can reasonably hold our money so they can squeeze it as hard as they can.
 
Its almost not worth selling things any more.
You invite them to your home - you get robbed,
If you sell to them on eBay or reverb, - you have listing fees, final value fees, delivery fees, and payment fees.
If you use a free internet sales app, you sure meet a lot of weirdos. (Even weirder than us!)
We keep, give away, or throw away a lot more than we used to, because it’s just not worth selling any more.
Thanks
Pauly


FractalAudio said:
PayPal holds your money for as long as possible so they can make money off it by lending it.
Click to expand...
 
This helps explain paypal's sudden desperation to get updated credit card info from me, since the one they have on file is expired.
 
FractalAudio said:
PayPal holds your money for as long as possible so they can make money off it by lending it.
Click to expand...

This.

The ebay/paypal thing is clearly in the monopoly category. Their fees have kept climbing for essentially a few CPU cycles. As far as paypal, in my recent transaction, they pulled the money from my account today. The item is not slated to hit my door until the 24th. They get a few days to play with my money before they have to pay it out.

I still use paypal on some sketchy sites where my girls need to have some trinket, but I have not even looked at ebay for over 8 years. Never again.

R
 
Seems like most people did not yet understand that the only motivation of shareholders of these instances is to make money, and surely not any philanthropic argument. If they can't make money one way then they will make it the other way around. And the users pay. Nothing more nothing less.
 
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