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After dropping PayPal as its main payment processor, eBay has moved on to enlist a good number of payment options that work better for its users. Want to know more about them? Stay with me.
According to BBC.com, one of the key reasons why eBay initiated alternative payment options is that the new alternatives allow people buying items on eBay to pay without leaving its website, and sellers will have lower processing costs. That sounds amazing, right?
Let’s take a look at the best payment alternatives to PayPal on eBay. While this might sound all pleasing to buyers on eBay, does this mean sellers can sell on eBay without a PayPal account?
Can I Sell On eBay Without A PayPal Account?
To sell on eBay without a PayPal account, you only need one of the listed acceptable online forms of payment. You could set up an online merchant credit card account through eBay’s portal and you are not restricted to using PayPal’s credit card program to do so.
Despite eBay and PayPal parting ways in 2015 and become separate public companies, PayPal is a safe and efficient way to get paid on eBay. Now, most of us might want to know why eBay parted ways with PayPal in 2015.
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Why eBay Abandoned PayPal
According to eBay, the move to disengage from PayPal to Adyen is in a bid to “enhance its customer experience” by intermediating payments on its marketplace without having a course to leave the platform.
This seamless process enables eBay will manage the payments flow, clarifying the end-to-end experience for buyers and sellers,” the company said in a statement.
Therefore, the main motivation for the switch from PayPal to Adyen is to enhance the user experience.
Additionally, the competitive nature of the eCommerce terrain leaves no room for complacency. So, rather than moving out to complete payments as it’s done on PayPay, eBay found a better option in Adyen
Adyen’s service extends to more than 150 currencies and over 200 methods of payments, which provides increased flexibility for eBay users.
The Netherland-based firm, Adyen has a number of high-profile clients, including Uber, Netflix, and Easyjet.
Is There An Alternative To PayPal On eBay?
In 2018, eBay signed an agreement with Dutch firm Adyen to process payments, but buyers will still be able to use PayPal on the site until at least 2023. So with this, the Amsterdam-based firm is a go for goal.
Paymate and ProPay are other services that are similar to PayPal that are accepted on eBay. eBay states that both services have has the same benefits as Moneybookers: payments are traceable, immediate, and can be made without registration.
Alternative To PayPal On eBay
eBay has signed an agreement with Adyen, a top global payments processor, to become its primary payments, processing partner.
On Ayden, users can make payments without leaving the platform. Adyen specializes in back-end payment systems for online merchants.
Moneybookers is an electronic payment service that is comparable to PayPal and is accepted by eBay as a payment option. According to eBay, Moneybookers stars traceable payments, allowing users to track the status of transactions through their eBay accounts; immediate payments; and make payments on eBay without registration.
Paymate and ProPay
Paymate and ProPay are other services that are just like PayPal that are accepted on eBay. Both services have has the same benefits as Moneybookers: payments are traceable, immediate, and can be made without registration.
Escrow is a payment method that holds onto the buyer’s payment until an item is received and approved. According to eBay, Escrow is recommended for high-priced items. Escrow is an option available on any eBay auction, but it is more mainly used on transactions of $500 or more.
Pay on Pickup
Pay on pickup is an eBay payment option that allows sellers to meet buyers at a location and time before making payment. This allows the buyer to inspect items in person before payment and eliminates shipping costs. In some cases, some sellers impose a surcharge for an in-person pickup, and that once the buyer picks up the merchandise, he can use any payment option accepted by the seller, such as cash, check, money orders, or a credit card to pay for the purchase.
Merchant Credit Card
Sellers on eBay have the option of accepting credit card payments using an Internet merchant account. This is a type of bank account that allows a business to accept debit and credit card payments.
While PayPal might make sense for some eBay users, some options are more conducive to use. Therefore, buyers and sellers should consider looking into these PayPal alternatives for their eBay stores to guarantee that they get the most out of every transaction.