eBay reportedly has banned cash payments

An online media journal as reported that eBay has now officially banned cash payment transactions among its 100 million-user base. They have also now begun deleting all the items on sale featuring cash transaction mode.

The company has reportedly said that these kinds of auctions and sales are mostly done by fraud sellers and harm the consumers in general. Matt Halprin, eBay’s global policy VP reportedly said in a statement on this step taken by the company: “The U.S. Postal Service tells us it’s unsafe, and now eBay is telling everyone that it is unsafe.”

He added: “So if a seller solicits or encourages offers to accept cash, [they are] encouraging unsafe payment methods and we do remove that seller’s listing.” They had originally approved this policy way back in October last year. However, it has only been implemented now.

Many sellers have reported that the company is now forcing them to use PayPal as a method of selling items online. eBay owns PayPal and charges a small commission on every transaction made through this gateway.