In the news this week: eBay's CEO Devin Wenig shares more details about their new payment processor Ayden, Royal Mail Tracked Returns tariff changes, and new features for Amazon Sponsored Products.
eBay payment switch not optional
After the announcement that eBay will be dropping PayPal as its main payment processor, having signed a new agreement with Ayden, eBay’s President and CEO Devin Wenig has given further details on how the switch will take place:
“It’s not going to be optional. We’re not going to hold peoples’ hands and beg them to move over. We’re basically going to say your eBay account is now your full end-to-end eBay account for all your activities including payments. And that’s the way it works on every other marketplace.”
– Devin Wenig, president and CEO of eBay
Once the agreement with PayPal ends in 2020, new terms and conditions will come into effect for retailers and the Adyen payment system will be the only way to make payments within the site. Through the new payment system, buyers will have be able to use Apple Pay and other local payment methods. PayPal will still be available as an external payment option for shoppers.
Initial testing of the new system will start this year, which will be experienced by 5-10% of users.
Read more about Devin Wenig’s comments here.
New Royal Mail tariffs for eBay returns
From 23 March 2018, Royal Mail will be changing the weight bands and prices for Royal Mail Tracked Returns 48. The new bands and prices for tracked returns will be:
0 - 2kg - £3.05
2 - 5kg - £5.66
5 - 10kg - £7.58
10 - 20kg - £9.60
The price update will affect sellers that use eBay’s returns process - find out more about eBay returns here.
New features for Amazon Sponsored Products
Amazon has added new features to Sponsored Products, these include notifications and tailored recommendations to help retailers keep on top of their campaign budgets.
Real-time budget notifications will appear at the top of the Campaign Manager in both Seller Central and Amazon Marketing Services accounts. These notifications will let you know when Sponsored Product campaigns have reached their daily budget limit. Once you click on a notification you’ll see recommendations for increasing your budgets for each campaign that’s running.
Find out more about the new Amazon Sponsored Products features.