Auction Website eBay removes the Merchant for it Accepts Bitcoin Payment

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Auction Website eBay removes the Merchant for it Accepts Bitcoin Payment

A decision which may send rude shock to a lot of merchants who had expected that auction websites like eBay would support disruptive technology like Bitcoin has come to notice. In a recent post on /r/Bitcoin, Andy Shroder posted that eBay Inc. had removed his merchant listing because he accepted Bitcoin for his products.

In a communication with the auction website eBay, Schroder, a solar energy researcher and solar panel manufacturer, came to know that he has been removed from the list of the merchants. The reason behind the removal was that he was accepting Bitcoin which according to eBay does not qualify as a payment method due to “two key factors” — security and safety, and ease of use.

In an email to Schroder eBay said:

“Please understand that you mentioned you accept ‘Bitcoin’ as a method of payment. Some online payment companies are fairly new and inexperienced and they do not provide sufficient fraud protection to members. When we review payment methods to determine whether they are allowed on eBay, two key factors that we consider are ‘Security and Safety’ and ‘Ease of use.’ Please do not offer this payment method.”

eBay Polices on Bitcoin and Virtual Currencies

Interestingly, eBay that claims to be a revolutionary solution provider for e-auctions has surrendered to the traditional overview of currency as according to eBay’s policies on Bitcoin and virtual currencies, it restricts merchants from using it for settling payments. This is not for the first time that eBay has taken such a regressive decision.

Earlier, two years ago, eBay actively delisted products any time a merchant even remotely mentioned Bitcoin. Looks like there is some incongruency in what eBay says in public and acts in private. One such incongruency is eBay CEO John Donahoe’s statement in 2013 where he had said the e-commerce giant wanted to integrate Bitcoin on PayPal.

He had then aimed that with such a move users could purchase items on eBay with Bitcoin. He had said that Bitcoin was a new disruptive technology, and he was looking at it closely and exploring the ways to enable it inside PayPal.

From the responses eBay is receiving after this decision, it looks it will become extremely unpopular among progressive techsavvy people who feel Bitcoin is lot safer and secure than the traditional payment methods that eBay has mentioned in the email.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com

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Deepak Tiwari, a law graduate, has been working as a journalist for six years now. He currently writes on Bitcoin, economic, and Forex related news at ForexMinute, the brand new financial news portal which is making waves among Forex traders around the globe for the innumerable Forex resources it offers for readers, traders and brokers. His other specialties include writing on law & governance, finance, internet marketing, careers, politics, international relations & diplomacy, etc.
  • five
    ebay made the biggest mistake in company history. maybe paypal is behind all the mockery. https://www.c-7.cc/?ref=drnash85