The online marketplace faced calls from sellers to boycott its site over money being held in reserve.
Online marketplace Etsy has said it will change its policy after sellers complained of money being held.Etsy said it was "substantially decreasing" the amount of money it would put on hold but did not state the new rate or time frame.
"I have asked Etsy to explain what we tell sellers about the level of the reduction in reserves they might expect and when this will happen," she said.On Monday, the BBC reported that hundreds of Etsy sellers had received an email from the website notifying them it was actioning its "reserve system".
Ceramics seller Rachel Collyer said Etsy was holding £899 of her money, which meant she cannot afford to buy materials to keep producing.On Wednesday, in an update issued to sellers from head of payment policy Chirag Patel, Etsy said it was addressing the "pain points" of the reserve system for sellers.
"We are getting very anxious about the possibility that while we wait for resolution of these issues talented and crucial small and micro businesses are going to the wall," said Ms Barclay told the BBC. Furniture-maker Dan said he was "sceptical" that the changes would be implemented and that the notice from Etsy "lacked detail".Etsy is an online marketplace that allows independent sellers to set up their own shop. It specialises in bespoke items, handicrafts or things not usually available in High Street shops.
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