Online marketplace eBay is expected to update its payment and listing policies by the end of the month.
New rules from May 31st mean that fees and expenses will be deducted at the point of sale and not through a monthly billing statement mirror.
The remaining amount will then be transferred directly to the seller’s bank account instead of PayPal.
The move gives buyers a wider choice of payment options alongside Apple Pay, Google Pay, and PayPal, eBay said, although sellers can only claim their earnings through bank transfers.
These withdrawals are made net of any listing and terminal value fees.
The seller’s terminal value fee is still 12.8% of the total amount of the sale plus 30p per order, which drops to 3% for the portion of a single sale above £ 2,500.
Starting this month, the website gives more powers to regulators who will be able to unilaterally remove dangerous entries.
Officials can remove items “if they have any evidence of consumer safety risk,” eBay said.
In the UK, this includes the Product Safety and Standards Office and Ofcom Internet regulator.
Over the years, investigators have found unsafe electronics, toys, and batteries for sale on a variety of online marketplaces – including Amazon and the Chinese website Wish.
According to eBay, this latest move aims to speed up the removal of “illegal or unsafe items”.
Murray Lambell, the UK manager of eBay, said the coronavirus pandemic had made online shopping “an even bigger part of everyone’s life.”
“Marketplaces should take their responsibility for consumer safety seriously, but working with the authorities is vital,” he said.
“We hope that other players in the industry will follow suit.”
Lesley Rudd, Chief Executive of Electrical Safety First, said, “Our research has consistently identified dangerous, unbranded electrical appliances with obvious visual defects for sale to UK consumers. These products often lack some of the most basic safety features.”
“Online marketplaces must be legally recognized as retailers in order to adequately address the problem of dangerous goods being sold through their websites, and we urge the government to include these websites in their upcoming online safety law.”