Home eCommerce Blog New eBay payment options are live!

New eBay payment options are live!

eBay have just announced that Moneybookers and Paymate are now able to be used for eBay transactions. These will join the existing options of PayPal, credit and debit card payment to a seller’s merchant account, Propay or Pay on Pick-up.

So how do these new methods compare?

Paymate is the most expensive of the three, charging a flat rate of 3% of the payment value + $0.50, whereas Paypal and Moneybookers offer volume discounts for high-grossing merchants. Moneybookers fees are slightly less than Paypal.

Unfortunately the Moneybookers eBay page wasn’t live when we checked an hour after the eBay announcement, so we were unable to uncover the full details of their service. The Paymate site was active, but the following limitations (for US sellers) stood out:  

  • Sellers can only accept payments in US dollars at present.
  • Sellers need bank approval of merchant facilities to accept credit card payments.
  • There is approximately 1 day delay in receiving payment, however, the money does go directly into your bank account, rather than being held in a separate merchant account like on Paypal.

On the face of it, this announcement is great news - but do Moneybookers and Paymate really have what it takes to make a difference?

What do you think of these new payment options?

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14 Comments Add your comment
Propay Don't work so why should any other method work. Ebay makes sure that its NOT visable. John Reply
Why would anyone want to complicate their eBay business and life. PayPal is a secure method for accepting online payments. It cost less per transaction than the other options. Provides an interest bearing money market account with a debit card (cash back on puchases) for funds left with PayPal. Offers immediate transfer of funds to your checking account. A ton of other services too numerous for this response. For now I plan to stick with PayPal and keep my life simple. Reply
Funds are not immediately deposited as one thinks. Sellers at the mercy of buyers and eBay/PayPal. Choice is always good, competition is always good. Keeps prices in check and companies that provide services honest (sort of). Reply
I am just glad there is an alternative besides paypal. They tend to look out for the big guy most of the time. Reply
I don't think it will change things much. People will like that they have a choice, but, I think most people will opt to use paypal at the end of the day. It's a very clever move by eBay/PayPal... Reply
People use paypal because its the easy way out. For those that think pay pal is secure you better do your research. Reply
Just another way for eBay to help the big sellers and kick the small guy to the curb. You have to gross $36,000.00 in sales to use paymate. Good try ebay, I now sell on Bonanzle. Even the people are nicer. Reply
Happy to take ANYTHING other than PayPal!! I am a small volume seller yet I have had SEVERAL fraudulent payments allowed to go through PayPal and getting chargebacks started up to one month after the payment cleared. To date I am out over $2500 as a result of allowing payment to be made to me via PayPal which is not a bank so it has no obligations to operate under any federal guidelines. I may try to set up a direct merchant account, but other than that I am tired of all the fraud and ZERO accountability!! Reply
PAYPAL IS A JOKE!!!! eBay "owns" PayPal! In eBay's eyes, the customer is ALWAYS right! Even if they are using a STOLEN credit card! There are 1000's of fraudulent buyers on eBay daily! They do their best to try and rip you off. I avoid PayPal at ALL COSTS! It's *u#l that you have to pay 2 PEOPLE to sell an item! Reply
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Yes, there are many horrific stories about a bad transaction on eBay involving PayPal. Personally the fees are a bit outrageous. But sometimes there are things that are beyond PayPal's control - like if your item is purchased/paid for with a hacked account, of course PayPal will have to reverse the payments if the true owner of the (hacked) account files an unauthorized charge dispute. These days everyone has to be extra careful doing online transactions as anybody can easily be a scammer :( Reply
I opened a store on eBay just to sell things in my house that I don't need after my divorce, and help friends and family to get rid of them as well. PayPal now will report to the IRS payment over 20,000 or 200 payments a year, meaning that many of us will not be able to use eBay as a better option than a garage sale. We're screwed unless somebody comes up with a better alternative. And ebay's feedback process is a joke! Sellers now are at the mercy of buyers entirely! In regular business practice, sellers are able to check a buyer's credit profile with the Credit Bureaus, but there's no way for an ebay seller to check or avoid a potential bad buyer. On top of all, some inescrupulous buyers use feedback as a subdle weapon against the seller. Reply
I have nothing but trouble with PayPal now, they limited my account access for 180 days because they can't identify my identity which account was set up 10 years ago. At the meantime they try to charge back. One of item was a payment done over a month ago because the seller's bank just reported to them there was not enough funds to pay PayPal in which the payment was approved by PayPal. Now I lose an item which was approved by PayPal and they are not backing up their seller protection policy. Where is my seller protection they claim? I have been robbed by PayPal and buyer. Reply
PayPal is so frustrating. Moneybrookers is awesome and easy to use. Reply
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