Managed Payments come to Canada

[recped]

It's official Managed Payments will be arriving in Canada "later this year".

Personally I'm not too concerned.

Official announcement here:

https://www.ebayinc.com/stories/news/ebay-continues-to-expand-its-management-of-payments-to-australi...

[apmtrade]

"Adyen, the company that runs the backend of Managed Payments has been established in Canada for many years and have full access to the clearing systems used by Canadian banks."

Thanks for info: Look like I learned something new today. Thanks

[ricarmic]

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@ricarmic wrote:

I'm with femme, I'm ignoring this as long as I can!

(I've survived a number of other similar events/changes in the last 20 years, they all seemed a lot worse than they turned out to be)

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PS it turns out I lied. I have developed a concern about what happens around grandfathered items, so I've put the question in the weekly chat for Tyler. I still plan to wait as long as makes sense to migrate, it will be as long as humanly possible if grandfathered items are a problem.

As well, I think MP only allows 1 payment bank account for my $$$ to go into, which will be unfortunate as I've got a great way to convert US$ to $C saving me over 2% each time (XE Trade) that I won't be able to do anymore when MP arrives on the assumption I choose to make the account a $C account - by the time I have to move, I'll likely be running about half and half US$ and $C incomming.

[katlover1952]

What happens if we list on both sites so have payments incoming in both US & CND. The bank account I have hooked to Paypal is a US one & it has really worked well. Shows both how much you have in Canadian & how much in US.  Are Canadians required to used a Canadian bank or can we continue to use a US one. I prefer the US one cause I do better with exchange that way. I use the Canadian portion for paying for my postage & purchases I make in Canadian funds.

I will opt out till no choice then will consider whether to keep selling on eBay.

[cumos55]

The following might apply ....

Two savings accounts.....

(1) one account where all of the money from Managed Payments enters....   The only thing that will happen here is the receipt of money from eBay's Managed Payments.....

(2) a second account where you handle all of your local  money payments using a bank card... or withdraw money from your account at an ATM machine..

Then .....

If you sell on eBay Canada all of the money will be in Canadian dollars.

If you sell on eBay.com, payments will be in US dollars, then ... I must assume....  the money will be deposited in a US dollar account in your Canadian bank.... and then converted to Canadian dollars......  This US dollar situation will have to be confirmed by eBay....

This is me thinking out loud.....

I will be working out how things will happen...... This is just the beginning..... of a new reality.

I sell only in Canadian dollars on eBay Canada

[cumos55]

How will eBay handle the US internet tax?

[cumos55]

Then.... 

How about those sellers that sell in Canadian dollars on eBay Canada... and...

in US dollars on eBay.com?

[imbuzzy]

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@cumos55 wrote:

Then.... 

How about those sellers that sell in Canadian dollars on eBay Canada... and...

in US dollars on eBay.com?

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Yeah,  I'm one of those sellers...

Love the current Paypal setup - haven't paid a currency exchange fee in 8 years and have complete control of my US funds on both sides of the border.

Will MP give me that flexibility?

My eBay gig is setup with Paypal Micropayments, being 5% + 5 cents per transaction.

It works rather well for low value items like mine mostly are.

Will MP have a similar structure?

[recped]

I do not know the details regarding multiple currency sellers (I'm not one now). Unfortunately the details are hidden until you sign up and even then I think they still have a non-disclosure agreement so there is very little discussion allowed except on the Managed Payments forum but you have to be enrolled to read or post there.

I tried to ask a few MP sellers by PM but none of them dealt with multiple currencies and had no idea.

Hopefully there will be a Q&A at some point that can bring clarity to this issue.

[cumos55]

We shall See.....

The future is somewhere around this corner, or the next corner .....or... whenever....

When Managed Payments arrives  we must have the questions ready for them to answer.....

[recped]

There are a bunch of references to the multi-currency situation here:

https://pages.ebay.com/payment/2.0/terms.html

I've read what I think is the relevant parts several times but it still isn't clear. There IS a recognition that some sellers use multiple currencies and it appears as if the legal providor of services (eBays various corporate divisions) handles payments in each territory before handing them off to the users home country. It's not clear if you can direct funds from .com sales to a .com specific bank account while having sales from .ca being directed to a different bank account.

[femmefan1946]

As I understand it, Managed Payments not only pays the Internet Sales Tax, but does not charge any fee for doing so unlike the position eBay takes on IST run through Paypal.

Which makes my tighten the chin strap on my tin foil hat.

[femmefan1946]

We sell on both sites in both currencies.

At this time we are depositing our US payments into RBCBank, which is a US bank affiliated with the Royal Bank of Canada, and our Canadian payments into a Canadian bank.

While being forced into using just one Canadian bank would be annoying, being unable to use our US bank account would be infuriating.

And vice versa.

[cumos55]

This Canada option of selling in Canadian  dollars on eBay Canada  and in US dollars on eBay.com is unique for Canada

Two different ID's, one for eBay Canada and a second ID for eBay.com  would allow one to sell in both currencies.  Canadian dollars in a Canadian bank... and US dollars in a US Bank

Or....  The US dollars gets converted to Canadian dollars before it crosses the border into Canada....  The current  Paypal situation...

[ypdc_dennis]

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@cumos55 wrote:

This Canada option of selling in Canadian  dollars on eBay Canada  and in US dollars on eBay.com is unique for Canada

Not unique. Americans have the same option.

[cumos55]

checked Managed Payments  on eBay.com....

Payouts, the transfer of money to a bank account, occurs on a daily basis except for weekends and holidays...

This means that I will have a bank account where this money, and only this money, will be deposited.

[cumos55]

From eBay.com....

Payouts can be on a daily basis or a weekly basis

[femmefan1946]

Every member worldwide has the same option.

I suspect Asian sellers have  both USD and Euro listings.

UK and Australians seem to stick to their own currencies.

European sellers list in euros and often in USD but not as widely as Canadians.

I tell US sellers that they can double to number of Free Listings by listing here (and explain the quirks). I doubt any have ever done it though. Provincial thinking.

[thunderclawz]

The most important question is will we pay less fees VS Paypal. It seems to be quite similar. With refund/return Paypal will not refund those fees starting in May, so if Ebay does then it's better VS Paypal, otherwise not seing much difference.

If someone can make a PRO/CON list...

EDIT : According to a Reddit thread you get the fee % refunded but not the $0.25, which is what Paypal was (is until May) doing. So this is a plus for me and those that sell higher value items.

[femmefan1946]

@thunderclawz 

But not a game changer unless the seller has a very high Dispute rate. Or actually a high lost Dispute rate.

High value sellers are protected already on Not Received claims because they would be tracking their shipments. Low value sellers like me don't, because the costs are higher than potential losses.

So the fee on every single frickin' sale becomes more important.

Ten sales of $10 each through Paypal cost 30c plus $2.90.

Ten sales of $10 each through Managed Payments *costs $2.50 plus $2.70.

Every seller will be looking at her own bottom line.

*I may have the percentages wrong. Dysnumeric.

[thunderclawz]

You're right, that's why i mentionned for high value item seller. I usually sell 1 item per transaction. I'm just surprised that buyers would combined items (cart) unless they get a discount for shipping.

Even though i've changed to no return policy, sometimes people will try for it or use a different excuse, or they can also ask for cancellation before shipping out. It doesn't happen often but when it does, it could be a large amount. This policy from Paypal is pretty sh*tty. I've never seen that applied anywhere.