An e-commerce corporation based in San Diego, California, is what eBay is.The company facilitates customer-to-customer and business-to-customer sales of goods and services on its website. Today, the company is a multi-billion dollar business with its operations running in 30 plus countries. The company manages the eBay website where consumers and businesses buy and sell their products, basically like an auction. The website is officially free for its buyers, but sellers are charged a fee for listing their products after a couple of free listings and a fee when the product is sold.
EBAY and Payment Plans
Yes, the company does have a payment plan system, which is known as BILL ME LATER. In this system, at the time of checkout, when buying a product, you have to enter your birthday, and along with it, the last four digits of your social security number, and done, your purchase is complete. Bill me later is a credit account linked to your PayPal or any other UPI account.
This type of payment plan often facilitates customers to pay the purchase amount much later than when the purchase is made. Not only eBay, but various e-commerce websites like Amazon, OLX, Myntra, etc., provide payment plans to their customers as a mode of payment for the purchases they make from this website.
The Concept Behind EBAY and the Need for Payment Plans on such Websites
Pierre Omidyar, who was the notable founder of this website, had only one thing in mind when creating this business: bringing the ultimate buyer and seller directly in front of one another. Before creating the website, he observed that when the sale of goods happens from the original manufacturer to the ultimate buyer, the price almost doubles up due to the various intermediaries involved who add up their shares of profit in it as well, ultimately making the customer pay double the price for the commodity, than what its actual price originally was.
He looked to eliminate these middlemen and bring face-to-face the ultimate buyer and the seller for direct buying and selling the products. This led him to create EBAY, a website of its kind when introduced. Soon it gained a tremendous amount of popularity among the consumers because they were getting the same product for a much lesser price than when bought before. On top of that, the manufacturers were also happy as they got the total profit for their product without giving any share to the middleman.
Products Offered by the Company
The company is an auction buy and sell site that majorly offers products from other customers that have to be sold by them.Meaning second-hand products that are now not in use by the customer often come up for sale on eBay. These products are in decent condition and are put up for sale by their original owners. New products rarely come up on sale on eBay due to the nature of the site. So majorly, all types of products come up for sale on this site, but majorly all of them are second-hand or previously owned products.
Various Modes of Payments Accepted by the Company
The company accepts a variety of modes of payment that the customer of the company can accept. Today, the company is a multinational firm that offers its services to almost the entire world, in countries like America, England, India, Europe, etc. So it has to keep a variety of modes of payment at hand for customers from all around the world. The available modes of payment are:
· Credit cards, like Visa, American Express, Diners Club, etc.
· Debit cards
· Bank transfers
· UPI payments like Apple, Ali, Union, etc.
· Other than all this, due to the development in currency today, the company has also started accepting digital currency like Bitcoin, Ethereum, Dogecoin, etc. due to the development in technology today, many customers have started using these modes as payment methods for their purchases they make therefore companies have to upgrade their payment systems to match with the customers.
So these are the various modes of payment accepted by the company.
Conclusion
EBAY today is one of the biggest e-commerce giants and operates in more than 30 countries across the globe. It is majorly popular in America and Canada. The company was amongst the first to bring the buyer and seller directly face to face in front of one another.Today the company is mighty successful in its field, and that be it ten years, twenty years, or even fourty years from now, EBAY was, is, and always will remain as the company that it is today, “for the consumers, with the consumers.”
Frequently asked questions(FAQ)
Q1) What should one not sell on eBay?
A) Often, one should not sell food items, handmade crafts, large or heavy items, etc., on EBAY due to scams, forgery, shipping problems, payment problems, and many other reasons.
Q2) What happens if a customer gets scammed on eBay?
A) If a buyer or a customer gets scammed on eBay by a seller, then he is entitled to a full refund or replacement of the item by either the seller or the company if the seller denies to do so, and the company also bans the seller from the website and from making any sales in the future.
Q3) How long does eBay take to deliver a product?
A) Once the customer accepts and makes a decision to buy a product from the site, then within 7-8 business days, the company gets the product delivered to the customer, and also when the customer orders the product, the estimated delivery time and date for the product are adequately mentioned along with other details for the customer to look at.
