At Etsy, we’re always working to get you the tools and services that will help your business thrive. We know that around the globe, Etsy sellers rely on Etsy Payments to make running their shop finances a seamless process. We also know that so many of you have been asking us to expand Etsy Payments to your country, too. We've been busy behind the scenes to make it happen and are thrilled to let you know we’ve expanded Etsy Payments to sellers in even more countries!
Etsy Payments is available to sellers in Thailand, Ukraine, Japan, Chile, Argentina, Peru, China, and India (export sales only).To make this all possible, we've partnered with Payoneer, a secure payment processor that makes it easy to get paid in your local currency. Want to know about all the great benefits Etsy Payments can bring you, your buyers, and your shop when you enroll? Read on below!
OK, tell me more about Etsy Payments. Why do buyers like it?
Etsy Payments makes it easy for buyers to choose their preferred payment method when checking out. Depending on which market they’re in, buyers will now have access to various local payment methods like PayPal, credit and debit cards, Etsy Gift Cards, Etsy Credits, and more!
And buyers love having payment options. In 2022, we found that 75% of Etsy transactions used a payment method other than PayPal. Because Etsy Payments gives buyers more options, it’s become the preferred way to pay and can help you become more appealing to buyers around the globe!
Great, but how can Etsy Payments help my shop?
We’ve already shared with you how enrolling in Etsy Payments can make your shop more attractive to more buyers. Did you know that it can also boost your potential sales? In fact, we found that sellers who switched to Etsy Payments saw a 14% lift in sales!*
The benefits don’t stop there. Shops that use Etsy Payments are also eligible for future Etsy-funded coupons like this one and may be featured in our ongoing site-wide promotions.**
Plus, qualifying orders processed using Etsy Payments are eligible for Etsy Purchase Protection. That means Etsy will refund buyers and you’ll keep your earnings if a buyer doesn’t receive their order or it arrives damaged***. You’ll also get dedicated payments support. Need help? The Etsy Support team will be here to assist with any questions you have relating to your Etsy Payment transactions.
Tell me more about Payoneer. How does it work with Etsy Payments?
We’ve partnered with Payoneer, an established global third-party payment processor, to help sellers receive payments safely and securely in Thailand, Ukraine, Japan, India, Chile, Argentina, Peru, and China. When you enroll in Etsy Payments, you’ll be prompted to either sign up for Payoneer or connect your existing Payoneer account. After you’re signed up, Etsy will typically deposit any available funds from your sales weekly on Monday into your Payoneer account, and you’ll be able to withdraw these funds in your desired currency. In India, withdrawals are automatically disbursed into your local bank account in INR.
What about fees for Etsy Payments and Payoneer?
We’ve worked hard to ensure that you'll receive a competitive rate when transacting with Etsy Payments. Fees vary based on shop location, so we recommend checking out this article about Etsy Payments fees and this page with information on Payoneer fees.
I’m ready to make the switch to Etsy Payments! How do I enroll?
Let’s get you started! To set up Etsy Payments, go to Shop Manager > Finances > Payment settings. Once you’re eligible, you’ll be prompted to begin your enrollment. If you don’t see the ability to enroll, don’t worry—we’ll notify you as soon as you’re eligible.
What else do I need to know?
- Make sure to enroll before Etsy Payments becomes required in 2024. It’s the best way to start enjoying the benefits right away!
- We’ll provide you with plenty of notice before Etsy Payments is required and you can always reach out to our support team with questions.
- Once you’ve enrolled in Etsy Payments, it will replace PayPal and become your official payments method.
- Curious about Payoneer, how to sign up, and how to connect an existing account? Read all about it in this Help Center article.
*Results are based on a sample of over 5,000 sellers from Argentina, Chile, India, Japan, Peru, Thailand, and Ukraine who migrated from PayPal to Etsy Payments between July 2023 and December 2023. Sales increases are not guaranteed.
**See here and here for applicable terms.
***Qualifying orders based on criteria outlined as part of Etsy’s Purchase Protection program. Terms apply.
Words by Etsy Staff
Etsy staff writers and contributing editors.
