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The Divorce is Final: eBay Sellers Can No Longer Use PayPal
The end of an era has arrived as eBay is ending its support for PayPal for sellers.
eBay first bought PayPal in 2002 before splitting the company off in 2015. The two companies continued to work together, but that appears to be coming to an end, at least for eBay sellers.
According to The BBC, eBay has updated its terms to exclude sellers from receiving funds via their PayPal accounts. While buyers can use PayPal to purchase goods, sellers will need to link their account to an actual bank account.
In terms of fees, the move has pros and cons for users. On the one hand, sellers will not have to pay PayPal fees. On the other hand, eBay will increase its fees slightly. As a result, the fees will likely be a wash for most sellers.
One of the biggest tangible impacts will be the time it takes for payments to clear. Most payments will now take two business days to make their way into a bank account, as opposed to same day for PayPal. In addition, many sellers are not happy about being required to link their bank accounts with eBay.
It remains to be seen if there will be any major fallout from the decision, or if the uproar will blow over. In the meantime, some users will be required to make the change as of June 1, while others will be notified in the coming weeks and months.
The Divorce is Final: eBay Sellers Can No Longer Use PayPal
Matt Milano
from WebProNews https://ift.tt/2SJHSj0
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