We got a tip from a reliable source that Etsy will be implementing a currency converter, as well as a system in which the money is all handled through Etsy. In other words, buyers pay Etsy, and Etsy pays sellers.
This isn’t the first time we’ve heard about this… but now we have multiple sources, it’s worth passing on.
These are some major changes! No timeline that we know of. We’ll keep you updated.
August 5th, 2007 at 4:55 am
woah… just turn a blind-eye to all the typos and spelling mistakes there!? Sorry.
August 5th, 2007 at 4:54 am
i agree with Sylviavincent above… a big YAY for currency converters being considered seriously it seems… although i’m not at all convinced about the new payment system.
Currency conversion is a MUCH needed tool that has left us intenational etsyirs at a disadvantage for a long time, but I’m sure their is an easier way to implement this? I understand that ETsy may wish to overhgaul the whole payment system, and are toying with possible solutions, but i don’t think such a revolution is necessary to allow other cirrencies on the site.
PLEASE, etsy, is it naive of me to ask that they implement currencies first, before complicating everything changing payment completley?
July 24th, 2007 at 4:35 pm
Kate Black said,
July 23, 2007 @ 5:31 pm
The comment about Etsy’s collecting fees from buyers the way they collect fees from sellers sent chills up my spine.
I also don’t trust them to mediate disputes fairly. I’m quite nervous about how this will be implemented and what it’s real impact on sellers will be.
*****
It would be much more of a comfort to me if Etsy would concentrate on true site stability/security and the functionality of already existing features before trying to implement something new and complicated. They need to demonstrate a certain level of consistency and reliability before they test new waters - especially when it is something with the potential to affect so many livelihoods.
July 23rd, 2007 at 5:31 pm
I’ve just sold off some old books on Amazon. You get notification that your item has sold and to ship the item within 2 business days. You ship the item. You get paid later. Amazon has an on-site account for you and if you want to spend your money on Amazon (store credit) I think you can do that right away. If you want it deposited to your bank account, you have to wait ’til the end of the month to get it.
The comment about Etsy’s collecting fees from buyers the way they collect fees from sellers sent chills up my spine.
I also don’t trust them to mediate disputes fairly. I’m quite nervous about how this will be implemented and what it’s real impact on sellers will be.
July 23rd, 2007 at 5:25 pm
Crikey. I don’t like the sound of this! If it works, fine, but if it doesn’t… There’s a lot in the forum at the mo about people’s accounts seemingly being hacked into, admin not knowing why it’s happening. That doesn’t bode well. If they’re going to bimble about and muddle through, tweaking and going offline left, right and centre, they’re doomed1
July 23rd, 2007 at 7:02 am
We’re all etsy guinea pigs. And it isn’t fun anymore.