Hello Guys, Today I just wanted to vent about eBay’s new managed payment system. Why I Hate eBay Managed Payments! OK, well not all bad I suppose. Less to pay for fees than PayPal and a better way to save money. On the face of it, you are saving a whole 2% which does all add up!
But wow eBay I really don’t think you’ve thought this through. I’ve personally been an eBay seller since 2011 and this is the worst thing to happen I think. Maybe I just need to adjust but for now 🤬
eBay has had this new system in the pipeline for a while now. Since 2019 I think. Probably longer than that but myself (for one) I can definitely say, things were better off how they were before!
I know “During the War” I must sound like an old man. Going on about how things were before. But, honestly, looking back to the good times is not going to make this all go away. By the end of this post anyone who is in the same boat as me, I want to try and help 🆘
eBay is a great way to make money but I’m sure it has left a very sour taste in some people’s mouths’ I think. Including myself!
At a very bad time as well in my opinion. Before COVID I would have said if people are desperate to make a bit of cash using eBay was a good idea, but now OK yes you can still do this, but now it’s definitely not the same.
Why I Hate eBay Managed Payments!
So, I was always extremely concerned about eBays decision to cut ties with PayPal. I still use PP but the best thing about it always was when somebody paid for something you got the money INSTANT. For other platforms other than eBay this will continue to be one of the good things about it. And I know PayPal can be a difficult company to deal with – if you know you know.
Still wow eBay you have really outdone yourself. Why I Hate eBay Managed Payments!
To be fair when eBay pays now through their managed payments it is usually pretty quick. Each day Monday to Friday they will pay for all your shipped orders. But you do not get paid on weekends or bank holidays. Also, your eBay fees are automatically deducted from each order.
I know it’s their money you owe but wow it was so much better when you could just pay everything you owed at the end of the month.
At least with the old system, you could pay when it suited you but wow this doesn’t sit right with me. Having that bit more control over my finances was definitely much better. Also, the big trouble for me is now I don’t have so much money going into my PayPal I can no longer apply for PayPal Working Capital Loans. Those really were the good times 😎
Not to dwell though, so if you are in the same boat as me you are probably wondering…
What Is the Alternative?
This might seem extreme if you have spent years like myself. Building a sustainable business that you’ve put both your heart and soul into. Only just to have to give it up. I don’t plan to but I will admit it is definitely time for me at least to look at other options.
In my opinion, you should never spread yourself too thin but you should never think there is not another way.
In fact, the internet is full of them.
Read my post here: How To Learn Affiliate Marketing for Beginners
Even if you can just make a few sales. Just to tie yourself over. That is what I’m thinking.
So, there is obviously Amazon, and this as another source of income can always be helpful. I personally make a bit off Amazon. Not as much as eBay but be warned with Amazon you firstly want to pay the $20-30 cost to get your fees down. You may need to make a loss whilst you are building your business – also you will need SKUs (Barcodes) for each thing that you list.
I will say though with Amazon their payment processing 🐌 very slow.
So yes there is that but for me personally, I will be looking into 2 things;
1.) Another auction website called eBid. Which I could actually see becoming pretty big over the next year. Being that they still use PayPal.
Although, thinking long-term making money outside of Ecommerce has to be the ultimate plan for me so
2.) Affiliate Marketing 💲
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Avenues Outside of Ecommerce
Yes, I think for me definitely Affiliate Marketing and Web Development is the way to go. The main reason for me developing this website was for this reason. So, yes if you are looking for a way to make money online look into affiliate marketing. If you do it right you can definitely make a lot of money.
Many I am sure already have said goodbye to Ecommerce exactly for this reason. No more eBay, No more Amazon or Shopify. If you can make it work -good on you I say 👍
Maybe one day it will be the same for me. No more customer complaints, no more returns, and no more having to hold stock or time commitments.
Affiliate Marketing is like the dream job – imagine travelling the world with a laptop and coming back with more money than you left with 😎
It will either be the hardest or easiest thing you ever try to do. I personally made my first commission very early on but it can differ for every person. It all depends – luck is definitely a factor. I knew hardly anything when I made my first $200 but it definitely helps to train as you progress.
If you are after some free training to get started with your own website here is a platform I highly recommend.
I will also share a secret with you. I’m looking to change tact with this website a bit. I actually run another site called MoneyMakingIdeas.info but I’m not planning to renew the domain. A few of my old posts from there I may move over but long story short.
I am planning to start using this blog to write a bit more about things like Ecommerce. So your eBay’s and Amazons etc. but also Cryptocurrency I will start writing about as well dependant on what opportunities present themselves.
After all, iBusiness Today is short for Internet Business Today! Which I’m sure you can agree with me covers a wide range of different topics. I will still focus mostly on Affiliate Marketing and Web Development but expect to see more posts like this one.
Plus a few new ones about Cryptocurrency!
To be honest, I think Cryptocurrency has a very bright future, and before I go here are my current Crypto Tips;
1.) Invest in Monero – Partial Privacy Coin seen as a reliable investment.
2.) Also, Invest in PirateChain 🏴☠️ In its early stages but very promising privacy coin network.
3.) Look into uploading content through Hive Blockchain for free Crypto!
4.) Dogecoin – Not sure how much more this can go up but one of the fastest-growing Cryptos of 2020 – if you would have invested in 1-2 coins back in April 2020 you would be laughing all the way to the bank
5.) Bitcoin – BTC has gone through the roof since the pandemic hit. In one year it has definitely exploded in value. Commercially it continues to be accepted as legal tender in more and more places but be warned! With its popularity, it is becoming more like Fiat Currency than ever so be careful about investing too heavily.
~Privacy Coins are the future – and That does not include BTC 😥
Why I Hate eBay Managed Payments! 🤬
Ultimately, It’s always important to consider your main source of income. I would still consider eBay for this in my own personal situation. I have made a lot of money from eBay but also consider secondary streams of income. Do your research but don’t spread yourself too thin. Make every part of the puzzle fit. Use eBay but also list some bits on eBid just to tie yourself over on any weekends when eBay doesn’t pay you 💡
Ultimately though think about how you can make so much money that you don’t have to worry about waiting to get paid!
Do a little bit of work on a blog website and work on saving up a bit of Crypto.
That’s what I plan to do anyway;
Wish me Luck 🏴☠️
Finally, Before I go I really hope this is something you can relate to. If you know anyone you think this content may find helpful please share.
This I would really appreciate. I really want to be able to help people with this blog so the bigger audience the better!
The other thing. If you have any experience with any of the topics I’ve discussed in this article please drop us a comment below. I will try my best to respond ASAP and would love to hear from you ❤
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To Your Success 🥂