eBay Moving to Electronic Payments Only

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According to a recent announcement, eBay will soon transition to 100% electronic payments. As of this October, they are “moving to an electronic checkout process that’s faster and more reliable for sellers and buyers.” This means that they will no longer accept checks or money orders for online transactions.

Items sold for pick-up will still allow alternative forms of payment at the seller’s discretion. However, if the transaction is done completely online, the only available options will be PayPal or to accept credit cards through your own merchant account or or through a company called ProPay.

While eBay claims to be making this move in order to combat fraud and increase customer satisfaction, it will have a nice little side effect for them of boosting PayPal revenues (in case you’re not aware, they bought PayPal several years back). This also means that you won’t be able to make payments via Google Checkout or Checkout by Amazon.

Via: The Consumerist

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Comments (scroll down to add your own):

  1. The announcement that ProPay will be added to eBay’s list of acceptable payments in October, has brought lots of questions about this new company. ProPay has been in business for over 10 years. Right now we only offer a merchant account, but at the end of September we will be announcing a new special account for our eBay customers. ProPay charges a small annual fee, but we offer several features and will help our customers fight against fraud.

    Comment by Brandon Crotts — Sep 2nd 2008 @ 2:43 pm

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