Now what is ebay doing??????????????

[cardsnstuff]

Just got this email; anyone else??

eBay is happy to announce plans to further improve the customer experience by intermediating payments on our Marketplace platform. In doing so, eBay will manage the payments flow, simplifying the end-to-end experience for both buyers and sellers. We have signed an agreement with Adyen, a leading global payments processor, to become our primary payments processing partner. PayPal, a long-time eBay partner, will be a payments option at checkout for eBay buyers.

You do not need to take any action at this time. The transition to full payments intermediation will be a multi-year journey.

Over the past three years, eBay has transformed its business to drive the best choice, most relevance and most powerful selling platform. Building out our payments capabilities is the next step in that strategy.

Payments intermediation will bring significant benefits for eBay sellers. You can expect a simplified pricing structure, more predictable access to funds, and most sellers can expect their costs of payments processing to be reduced. We’re also working on ways to provide sellers a central place to track and manage their business, which can soon include payments information.

By offering buyers more choice in how they pay and expanding payment options into more geographies, eBay believes sellers will be able to reach more buyers and improve conversion.

The transition to full payments intermediation will be a multi-year journey. eBay will begin intermediation on a small scale in North America starting in the second half of 2018, expanding in 2019 under the terms of the Operating Agreement with PayPal. In 2021, we expect to have transitioned a majority of Marketplace customers to the new payments experience.

Specifically:

As eBay transitions to a fully intermediated platform, it will work closely with its sellers to ensure that its new payment capabilities reflect their needs and deliver value to them.
To enable payments in their eBay accounts, sellers should expect to provide eBay with some additional payments-related data and transition to a new relationship with eBay that includes integrated payments capabilities.
Sellers will be required to complete these steps in order to continue selling on eBay, and it is anticipated that this transition for sellers will occur no later than one year after the expiration of eBay’s Operating Agreement with PayPal, i.e., by July 2021.
As eBay gets closer to the initial phase of its intermediation efforts, it will share more details about this process and next steps for its sellers. In the meantime, sellers can contact eBay now at paymentsinfo@ebay.com to stay up-to-date on eBay’s payments efforts and timing, share feedback and ask questions.