16-12-2020 1:57 PM
Managed Payments is replacing PayPal, for all sellers. In other words, PayPal will no longer be an option for receiving payments, for anyone. Once you're switched to Managed Payments, all your buyers' payments, regardless of how they're made (by PayPal, card, Googlepay or whatever), will go to Ebay. Ebay will then deposit them in your Ebay account. From there, they will be transferred to your linked bank account, minus Ebay's selling fees.
You can, and should, read up on Managed Payments for yourself. Full information is in the Seller Centre, and in the Help pages with their integral search.