Everything you NEED to know about eBay Managed Payments
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Video Outline
0:00 Intro
1:23 What is eBay Managed Payments
2:19 About the Payoneer & eBay Partnership
2: 55 How does Managed Payments work?
3:55 Can you still dropship with eBay managed payments
4:57 What happens if I don’t have a Payoneer account?
6:02 How to get verified on eBay Managed Payments
I want to talk to you guys about a cool update that is about to come out and this one is going to actually give us a real good solution to everything that's going to happen with eBay's, manage payment system, which has been rolling out for the last year in the u.s. and will soon roll out to everyone that’s selling outside of the US.
So, let's go ahead and get right to the action right before that, if you're new to our Channel, this is the part where you need to subscribe to always stay updated on all of the latest and all of the hottest topics.
So what is this update all about? If you have been following our channel we have talked about a payment provider system called payoneer?
If you are someone who hasn’t been following along or heard of them, it's an online bank account, just like PayPal. Payoneer gives you another online payment solution where you can link your bank account to a Virtual bank account from Pioneer. It’s like this...
When you log into your account, when you register for a payoneer account, they'll provide you with bank accounts that you can use to transfer money to and from there, you can link your own bank account to those virtual bank accounts and get your money from there.
So payoneer has been one of the solutions for dropshippers for sending payments and not just drop shippers but anyone with an e-commerce business.
The point here is payoneer is now synchronizing with eBay.
They have... connected
They formed a partnership and what that means is as soon as we get an email that we need to join eBay's, managed payment system you’ll also get a link in that email to link your eBay account with payoneer.
For those of you who have an account, you will be able to continue using your existing account and what this means is you’re going to get paid right at the same minute, when we're receiving the payment from our buyers.
So there won't be any delay when it comes to receiving payments.
Also, you’re only going to need to pass verification one time on payoneer and then you can use that on multiple eBay accounts.
One verification process and you’re set to go ahead and open 10 - 20 eBay accounts, however many stores you want to have, you won't need to pass a verification for each and every one of them since payoneer is now linked with eBay just like PayPal was linked with eBay up until today and your verification on PayPal worked on eBay too now your verification on payoneer is going to work on all of your eBay stores.
So multiple eBay stores is no problem with the manage payment system and this has been one of the most frequently asked questions for people who have enjoyed the manage payment system, but they know that soon, they'll have to.
So, eBay stated that International drop shippers, will have to join the manage payment system throughout 2021. Today we're in the month of May and I’ve heard that they already started sending these manage payment systems to International sellers since the beginning of March.
Also for those of you who don't know, anyone who's been using the fulfilled by Auto gear system, to fulfill your orders automatically, you can load your manage payments with PayPal and you can also load your manage payments with payoneer
Now, payoneer has a much lower fee for sending and receiving payments, much lower than PayPal's. So for anyone with a payoneer account and you've opted into the fulfilled by Auto DS service, I definitely recommend that you use the payoneer service to transfer your funds and manage your balance
Ok back to the partnership - first of all, they start off by saying that after you receive the invitation from eBay you'll get a link that will allow you to join payoneer, or link your existing payoneer account.
So, read that email and connect your payoneer account or register for a new one.
Now, once you complete the onboarding process, you'll still be receiving payments from PayPal and everything will still work with PayPal until you finished 100% of the migration process.
#eBayManagedPayments #DropshippingOneBay #eBay
