eBay updates payment system, 99% of orders can be paid in advance!

In order to create a better customer experience, according to foreign media reports, eBay recently updated its managed payment system and modified and upgraded the checkout experience.

It is understood that currently 99% of the order transactions on this platform are prepaid. This update and upgrade can further help companies simplify operations, save time, and provide buyers with more payment options.

eBay's managed payments system simplifies the payment process by providing sellers with unified sales and payment services, making it easier for sellers to reconcile accounts and manage their business.

Everything from listing, selling to collecting payments can be completed on the eBay platform. All information about eBay business (including transaction information and payment information, as well as reports, returns, disputes, conflicts, etc.) will be concentrated in the eBay seller area. Sellers can easily track and manage all their transactions on eBay and interact with customers. There is no need to reconcile transaction information on eBay with payment information on PayPal or to consolidate reports.

Alyssa Cutright, vice president of eBay global payments, said that a year ago, 340,000 sellers joined eBay managed payments, accounting for about 20% of the GMV (sales volume) on the platform. As of the end of June, more than 13 million sellers have joined, accounting for more than 80% of the GMV on the platform. In the third quarter of 2021, new sellers will also join, and eBay managed payments are expected to handle more than 90% of the transaction volume on the platform.

It is reported that in the traditional payment experience, sellers have to switch between two sets of accounts, reports, online tools, policies and customer service. Now, eBay supports sellers to manage their business in one account and also provides a set of protection measures and policies. In addition, prepayment of transactions can solve the situation where there are unpaid goods.

eBay said that according to existing data, after using the managed payment service, the business management process is more intensive and simple, and the sales cost can be reduced accordingly, which is beneficial for sellers to save overall costs and increase profits.

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