Ebay adds other payment methods to their platform

Sellers at eBay Inc. (NYSE: EBAY) can now be paid directly on the platform, according to the new terms of use. Sellers no longer need to receive their payments through Paypal Holdings Inc (Nasdaq: PYPL). PayPal acquired eBay in 2002, and the two big companies have worked together ever since. While you can still receive your payments through PayPal if you wish, sellers now have the option to receive payments direct from their bank account. However, some eBay sellers aren't too happy with this new move and are even threatening to leave the platform altogether. In eBay forums there are numerous posts from sellers who are not enthusiastic about the new system and do not want to use it. Plus, many of them don't want the platform to access their bank accounts in any way, even if it's just a direct debit access. However, the new terms and conditions, which come into effect on June 1st, state that the new payment methods are mandatory. It also states that eBay has the power to remove or restrict listings from eBay sellers who do not adhere to the new rules. eBay claims that the new payment method is more convenient, easier to use, and more options for buyers. They also say the rollout will be gradual. This marks a major change in a partnership that has lasted nearly twenty years. This new payment method means sellers no longer have to worry about the additional PayPal fees. However, eBay's fees are slightly higher. It is said, however, that most people will pay more or less the same as before. Buyers will now be able to automatically access all of the payment options available on the platform, including PayPal Credit, PayPal, Google Pay, Apple Pay, debit and credit cards. However, eBay now takes two working days to process payments, which PayPal previously did in one day. The new conditions make this payment method mandatory. This is viewed with skepticism by many sellers, as eBay is known for aggressively protecting its buyers, including at the sellers' expense. As a result, many sellers feel that the company favors buyers more than they do themselves.