eBay breaks off with PayPal
eBay has now introduced own payment processor, called AYDEN, and breaks off with PayPal. eBay reason being AYDEN will offer faster and cheaper payment, and will give more control to sellers.
PayPal I believe digs its own grave by always on the side of buyers, creating losses for sellers whose buyers claimed goods were not received, giving fraudsters opportunities. Most sellers always declined buyers who want to pay by PayPal because of this loophole.
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As far as I knew eBay owned Paypal for a long time. Although I didn't think they should offer just Paypal and it wasn't fair. I've also read and experienced problems with Paypal over the years. If this is true I think it's about time they offer something new and hopefully better. They should always offer more than one way to pay for their products and services. I don't know know why they didn't except for greed and being a monopoly with Paypal.
No I do not think eBay owns PayPal at any time, but a working agreement. At a time, they actually ask people to pay by PayPal (although I believe this could be for a sort of financial gain). However like all business, they need to expand, and seeing what they are making from PayPal, they decided to offer AYDEN, eBay payment processor. The good news John, they promised this to be cheaper than PayPal.
Things are getting very....interesting in the financial and investment world lately. Ebay breaking off with Paypal is very big news and if you're into cryptocurrencies, there has been so many headlines lately of negativity that nearly all cryptocurrencies has seen dramatic price drops including Bitcoin. India has just said they will ban all cryptocurrencies because they do not recognize it as legal tender and Facebook has said that they are now banning all cryptocurrency ads.
Back to the original topic though, I tend to agree with you about how PayPal has dug its own grave by not giving the sellers a chance to defend themselves. I saw that recently happen to a friend of mine who sold a brand new phone to a person and even showed it arrived at the location, but the buyer complained he never got it and my friend was banned from selling on ebay.
That is very sad, loosing money and opportunity at the same time. Some sellers ban buyers who wants to pay by PayPal because of what your friend experienced. With regards to 'crypto', I am a novice, and just lack the risk 'averness' to delve into it. Although I strongly believe that is the future of money. Thanks for this additional information.
As a seller... I love it! Been waitin' for this forever... been stung way too many times by PayPal!!!
eBay for laptop batteries? Have you tried Amazon.? I wonder why they make these batteries detachable, and DON'T LAST. Another con of battery manufacturers, lol.
You bet... I've been thinking more and more about it. I just bought two batteries in a row from a guy that swore they were exactly what my laptop called for and neither of them would charge up.
Next stop... Amazon! Hope to have better luck there... (-;
My dear I wish you better luck next time, both sell products from China, which of course DO NOT LAST, of course you go for a top brand, which can perform better, but only a bit longer.
Yup, and since it's a Lenovo laptop, who knows where this battery is going to originate from... LOL!!!
The design can be from a Western economy, but usually made in China for the economy of scale. Apple is made in China for example, but designed in USA. With that in mind, in electronics, its best to go for top brands.
I disagree. After the experience, I as a buyer don´t buy if the seller does not offer paypal. And I know that I´m not the only one.
So if Ebay will not accept Paypal, then goodbye Ebay for me!
Pretty much for us too. We don't buy anywhere if we have to put our credit card details in. If they don't offer Paypal, we just have to find the same product somewhere else. We had too much hassles when a website's security was breached and our credit card details sold to fraudsters. There is no guarantee that Paypal will never be hacked, I know that, but I think their security is better than most places. So I am curious to see what Ebay comes up with.
Agree! And think about it, what is more, important if you need to choose between 2 things. A) Trust of the site from the buyer. Or B) getting lover commission. I would take A all the day prefer than B because if A is not ok, customer simple buys less.
I never thought of it in that terms, but you are right. As a buyer, if I can get the exact same item at 2 different websites, I'll go with the website that offers Paypal, over the other which does not. (Because of security and the bad experience we had as explained above.)
But that said, I'm keeping an open mind and am curious to see what Ebay comes up with - they are a big company too and they would have known that they are up against Paypal, thus it will be interesting to see. ;-)
eBay would have calculated the risk my dear. I believe they would not just jump into this suddenly. Remember eBay have set up their own payment processor as a result, competition is what we want in this type of market my dear. It keeps everyone on its toes. lol.
There are others springing up lately, its just that PayPal is the first on its kind. Remember the newer ones will have added and latest security too.
I have just seen a big company like this do it before. It takes a long time to get trust about financial things and people jump not so easily, some yes but it has effect. At least for me, they are out now as a possibility.
I used to have a terrible time with PayPal over this even though I had a tracking number and proof of delivery.
It's not PayPal's fault, just because the money is coming from the buyer, makes them more believable than the seller who is receiving it. Most online sellers now do not sell to those who wants to pay by PayPal, a heaven for fraudsters. Other site to be weary off is gumtree, PayPal fraud is ripe there too.
Thanks for this info, it's probably good, that drives PayPal into thinking things over more carefully
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nice to know!
Thanks Paul,