Well, looks like the end of stealth on eBay

Discussion in 'Ebay' started by toml3030, Feb 1, 2018.

  1. toml3030

    toml3030 Elite Member

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    "eBay intends to further improve its customer experience by intermediating payments on its Marketplace platform. In doing so, eBay will manage the payments flow, simplifying the end-to-end experience for buyers and sellers. eBay has signed an agreement with Adyen, a leading global payments processor, to become its primary payments processing partner. PayPal, a long-time eBay partner, will be a payments option at checkout for eBay buyers. The transition to full payments intermediation will be a multi-year journey, and eBay will move as quickly as possible to complete this process within the parameters of the Operating Agreement with PayPal, which remains in place through mid-2020.

    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."
     
  2. Old Dog

    Old Dog Registered Member

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    Was just going to post a thread asking how this would affect sellers. I guess we will have to wait and see.

    What are your thoughts on this Tom?
     
  3. toml3030

    toml3030 Elite Member

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    At best, it will become like Etsy or Amazon with the seller having to provide SS# and working bank account at signup. This becomes problematic because Amazon is known to dig into the bank info you give them if you start doing serious volume and ban people if the bank info does not match the signup info. So while stealth will still be possible, you won't be able to grow stealth accounts into massive, profitable accounts.

    The worst case scenario is that it will be like signing up for credit card processing account and they will verify all info you give them and run a credit check on you before they approve you to sell on eBay.

    So at minimum, I expect there to be a requirement to provide a working tax ID and a US based bank account to sell on US eBay. The doomsday scenario is that providing false info to eBay will be like giving false info to open a bank account, a potential felony.
     
  4. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    Would not LLCs with different tax IDs work or do you think they will peel away layers and see the end user?
     
  5. amoon

    amoon Jr. VIP Jr. VIP

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    there is a solution for everything, we do not know what is it right now, but in the near future, we will see threads and sellers provide a eBay account fully verified...guides how to open an eBay stealth account and sign for Adyen as payment processor...

    .
     
  6. toml3030

    toml3030 Elite Member

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    If they do it like etsy (Aydin does payment for etsy), as long as you provide a working TaxID and a working US based bank account, you should be okay. That's not the end of the world, it would just increase the operational costs of working a stealth account in California from $100/yr to $1000/yr. What I'm afraid of is that they'll go full Amazon on you; that they'll do their own internal risk assessment like a credit card processor and want to run a credit check on you.
     
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  7. toml3030

    toml3030 Elite Member

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    [​IMG]

    "KYC controls typically include the following:

    Collection and analysis of basic identity information such as Identity documents (referred to in US regulations and practice as a "Customer Identification Program" or CIP)
    Name matching against lists of known parties (such as "politically exposed person" or PEP)
    Determination of the customer's risk in terms of propensity to commit money laundering, terrorist finance, or identity theft
    Creation of an expectation of a customer's transactional behavior
    Monitoring of a customer's transactions against expected behavior and recorded profile as well as that of the customer's peers"


    So not only is document upload may become mandatory, they may actually check it against public info and they will analyze your money flow. Great. Just Peachy.
     
  8. jamie3000

    jamie3000 Elite Member Premium Member

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    This is probably a dumb question but why not just do business that doesn't require a stealth account? What sort of things are you selling to consistently get banned?
     
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  9. Chutley

    Chutley Newbie

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    That is a good question. Personally I have had more problems with PayPal then Ebay.
     
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  10. toml3030

    toml3030 Elite Member

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    Because I had a massive eBay account that was generating thousands in profit a month banned because I called in and asked why they weren't enforcing eBay rules on Chinese sellers in my niche. Some lady in Philippines called me a liar, I provided listing number and invited to check it out herself, and they responded by banning my 9 year old account with high 6 figures in sales. I have never been banned because my product wasn't good, I didn't ship on time, or had any problem with customers. You can get banned or limited for something totally stupid.

    Another reason is that there are people who try to copy what I do, or try to come into my niche and compete with me, and I become a lot less of a target for them if I make $10K each on 10 accounts instead of making $100K in one account.
     
  11. tonynoss

    tonynoss Newbie

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    oh man ..
     
  12. Robert Slagle

    Robert Slagle Registered Member

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    ebay stealth will never go away
    ebay knows how much business they will loose trust me
    and there is always another way
     
  13. eltan

    eltan Junior Member

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    Is it me, or is every corner of the internet turning to sh!t?

    Biometrics to get online. Is this the future?

    BHW marketplace selling the fingerprints of newborn babies?
     
  14. edie

    edie Junior Member

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    things are getting hard everywhere...youtube, amazon and now ebay. but bhw will always win, there will always be solutions and smart guys who see beyond the tech
     
  15. planck

    planck Junior Member

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    Why eBay abandoned PayPal for a smaller European competitor

    In 2017, Adyen was valued at $2.3 billion following an investment round led by Iconiq Capital, and has since been encircled by rumors of going public.

    EBay explained that its decision to integrate Adyen's payment processor would result in lower costs and more control for its merchants.

    Adyen, a much smaller start-up based in the Netherlands, is an online payment company that provides businesses with backend payment services including credit card processing and point-of-sales (POS) systems.
     
  16. planck

    planck Junior Member

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    Before Facebook, everyone thought myspace will never go away; yet, it did.
    There is no stopping the constant change out here.
    As it is, ebay is already moving forward with the replacement of paypal
     
  17. Robert Slagle

    Robert Slagle Registered Member

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    true but i think paypal was and is becoming difficult and paypal employees do not like ebay so maybe it will get easier with the other company you never know and if ebay tightens up too much they will loose market share and our opportunities will just move to another company
     
  18. laklaker

    laklaker Newbie

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    Same issue to me. The problem is really not in the Ebay but the Paypal for limiting account thus, affecting the ebay account too.
     
  19. royserpa

    royserpa Jr. VIP Jr. VIP

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    The solution lies in what requirements they will ask for.
     
  20. Wing081

    Wing081 BANNED BANNED

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    i guess this doesnt affect canadian sellers selling in usa market?