Author Topic: Simplifying the PayPal Promotional Financing Program  (Read 7421 times)

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cjturtle

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Simplifying the PayPal Promotional Financing Program
« on: July 06, 2007, 07:33:02 AM »
***Simplifying the PayPal Promotional Financing Program*** 
   
July 05, 2007 | 04:50PM PST/PT

Hi everyone...I'm Jen Wehrmaker. Over three years ago, we introduced PayPal Promotional Financing, a program that makes PayPal purchases more affordable by offering buyers the option of low monthly payments.

Financing makes it more likely higher-priced listings will close successfully. While shoppers get more spending power, sellers, of course, still get the full payment up front. (The monthly payments are made to the credit issuer, GE Money, not the seller).

What's changing
We’re going to simplify the program. Starting the week of July 9th the more popular standard buyer financing offer will automatically appear - free of charge - on listings that are currently selling for $50 or more and are from U.S.-based sellers who qualify for PayPal Buyer Protection.

Other financing options will be removed from the site, and sellers will no longer be able to select them during the listing process.

What sellers need to know
If you currently offer one of the more advanced financing offers (such as "6 months deferred interest for total purchases over $199") to your buyers on your listings, they will be automatically removed in the next few days – no work is required on your part. Whereas our standard option has shown a positive effect on sales, these options have had very low adoption by buyers.

Just in case you have a buyer who won an item that offered these other financing options, he or she will still be able to take advantage of them during the checkout process until August 6th, even if the offer is no longer displayed on the item page.

Sincerely,

Jen Wehrmaker
eBay Marketing


Thoughts? :ct0559
 



biggfredd

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Re: Simplifying the PayPal Promotional Financing Program
« Reply #1 on: July 06, 2007, 08:57:21 AM »
Translation:  No one was willing to pay PayEnemy to provide "free" financing in a market where they're selling for less than wholesale.
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