Etsy is taking significant steps to enhance the safety and trustworthiness of its community. They are primarily focusing on their onboarding process with new steps before sellers can open a shop, including enhanced identity verification and shop set-up fee.
Enhanced Identity Verification
In a move to authenticate the identities of new shop owners, Etsy is introducing a more rigorous identity check during the shop setup process.
New sellers will be required to upload a photo ID (such as a driver's license or passport) and take a selfie using their computer or phone.
To facilitate these checks, Etsy has partnered with Persona, a third-party identity verification company.
Introduction of a Shop Set-Up Fee
To support enhanced security measures and verification processes, Etsy will implement a new-shop set-up fee.
This one-time fee of $15 is designed to cover the costs associated with these heightened security checks, ensuring that new shops are genuinely committed to establishing a business on Etsy.
The fee will be introduced gradually to new shops, with clear communication provided during the setup process.
Changes to Payment Schedules for New Shops
Etsy is also exploring adjustments to payment schedules for newly established shops. The aim is to foster a more trustworthy environment for buyers by ensuring new sellers have a proven sales track record before receiving payments promptly.
These changes are intended to help new sellers manage order fulfillment and refunds more effectively, with details to be provided in the Shop Manager upon completion of the onboarding process.
Looking Ahead
As of February 2024, Etsy has not provided a definitive date for these new policies to start.
It may be a good time to open any new planned shops before the new fees kick in.
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