Benefits Of eBay Managed Payment Account In 2021
eBay started its own Managed payment account on september 25, 2018.
At the beginning eBay invited a limited number of users from the US.
eBay claims that within 21 days they processed over $21 million, Then eBay started to move more and more sellers to the program.
Later they added the UK, Canada, Australia, Germany and currently adding France, Italy, Spain and soon China will be added.
From the inception of eBay they have been using third party payments solutions. Paypal has been famous among them.
eBay announced adding more sellers in this year 2021, sellers started to get email to opt in for eBay managed payment account.
What is eBay Managed Payment Account ?
eBay Managed payment account is a one stop solution on eBay platform for payment transactions between sellers and buyers.
When a buyer used to buy using anyone of the options from managed payments, the eBay platform accepts payment by itself and sends it to the sellers account.
Earlier payment processing is an hectic process for the buyers where they have to switch between eBay and paypal.
However the payment has to be done within a certain time, if session time ends before successful payment it adds extra pressure to the buyers.
It is even worse for the buyers without a paypal account, they have to create an account before they make a purchase.
eBay managed payment account will allow you to deposit the payments directly into your registered ebay account for sale bank account and there are no more third party processing fees.
Benefits Of eBay Managed Payment Account:
This kind of payment into your ebay sellers account makes it easy to use the multiple payment options.
Lower processing fees: The processing fees for processing payments in your aged ebay sellers account / fresh eBay sellers account will be lower than paypal processing fees. For sellers payments beyond $100 only be changed for 30 cents.
With bulk or single item selling the fee remains the same and helps to save money for sellers.
Payment accepting options: When a buyer wants to pay through credit or debit cards using paypal, it’s been a painful hooping between applications and payment gateways.
With ebay managed payment account options the sellers can use the credit and debit card as a payment method and get it deposited directly to their old ebay sellers account / new eBay sellers account- checking account.
Earlier there is not much options left to the buyers, if sellers only opt in for paypal and buyers don't have an account then there will be huge bouncing. But now multiple options are available..
Buyers can use any of the below options to pay to their sellers
- Paypal & paypal credit cards
- Bank credit and debit cards
- With gift cards
- Apple pay
- Google pay
Apple pay and google pay options are only available to the sellers who opt in for that.
Expand business: With opting in with managed payments sellers can expand their business globally with the use of global shipping programs.
It handles import, export, shipping and custom fees on behalf of yourself.
Detailed report: In sellers hub, sellers can download detailed reports on monthly transactions, shipping fees details, invoices, bills and performance insights.
It will be useful for the business to their auditing easily.
Streamlined approach: No matter which option the buyer used to pay, still can get to your bank account within two days. A unique order number for your shipment can help with follow up and ease of reconciliation.
Centralized customer service: An dedicated team assigned to help sellers for signing up and to solve any disputes during the transactions.
With 24/7 customer support and sellers will get all the fees, payment out on a single invoice.
Simplified operations: With one stop solutions on payment, it is simpler to sell, simpler to get paid and simpler to manage your selling histories.
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