| Bigblackdog | 07-06-2020 01:03 PM |
Post from Paypal - read between the lines
At PayPal, we believe you should be able to build your business your way, so we hope your PayPal Working Capital advance is helping you to do just that.
As a PayPal Working Capital customer who sells on eBay we wanted to make sure that you are aware of the changes to payment processing eBay are introducing and the impact it will probably have on your PayPal Working Capital advance.
What changes are eBay introducing?
eBay is launching its own payment processing service and plans to move all its business sellers to eBay Managed Payments over the coming months.
What does this mean for your business?
When your business moves to eBay Managed Payments, your eBay sales will no longer be visible to PayPal even when PayPal is included as a checkout option. PayPal will not be able to collect automatic repayments from your eBay sales, so you are likely to take longer to repay your cash advance and may not meet the minimum repayment required every 90 days.
What can you do?
If you are not able to make the expected level of repayments from sales still processed through PayPal, you should arrange to make additional repayments. One of the ways you can do this is by setting up bank payments from your bank using the new functionality in the PayPal Working Capital account dashboard.
Will your business still be able to apply for a PayPal Working Capital advance in the future?
Your business's future eligibility will be calculated on your non-eBay sales so depending on the amount of sales you continue to process through PayPal, you may still be eligible for future funding from PayPal Working Capital.
We are working to make alternative financing solutions available, allowing us to continue to help your business letting you determine the best way to fund your business.
We value you as a customer and would like to continue to help and support you and your business. If you have sales in other channels or marketplaces or want to setup your own online store, then we can help you.
If you have any questions, visit our FAQs or call us on 0800 368 7176.
Yours sincerely,
PayPal Working Capital
It would appear that personal accounts will not be affected
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