Etsy has become a lifeline for many small and independent businesses, giving them an opportunity to get their products out to a much wider audience. For many it is their largest or even sole source of income, so even a single delayed payment can be detrimental.
Unfortunately, a number of sellers on the e-commerce platform are experiencing this following the recent collapse of Silicon Valley Bank. A reported 0.5 percent of sellers had their payments delayed as of Friday, and that number could increase in the coming days as Etsy scrambles to find a solution.
Etsy sellers can select when and how often they want to receive their deposits, so those who have payments scheduled in the coming days could also run into issues. An Etsy spokesperson told TechRadar Pro Monday that it is already implementing workarounds, having “started processing payments via another payment partner this morning.”
