SAN JOSE, Calif., Sept. 9, 2020 /PRNewswire/ -- As part of
modernizing its marketplace and creating a more streamlined
experience for customers, eBay is expanding its management of
payments to France,
Italy and Spain in the first quarter of 2021. This
expansion will continue to offer buyers flexibility and choice in
payment methods and give sellers an easier way to manage their
businesses.
eBay began managing payments on its platform in the U.S.
for a select group of eligible sellers in September 2018, followed by expansions to
Germany in 2019 and the UK,
Australia and Canada earlier this year. The company is now
working to scale its management of payments to all
countries.
"By managing the payments process, we're creating a simpler,
more unified experience for our customers, and streamlining
operations for our sellers with one place to sell and get paid,"
said Alyssa Cutright, Vice President
of Global Payments at eBay. "As we continue expanding and scaling
our management of payments around the world, we're excited to add
France, Italy and Spain to our growing roster of countries."
The company plans to offer buyers in these countries more ways
to pay, in addition to credit card and PayPal. Apple Pay will be
available as a payment option on iPhone and iPad. Google Pay will
also be available on the eBay site and on the eBay Android
App.
eBay's managed payments reached a significant milestone at the
end of July with the expiration of its Operating Agreement with
PayPal. Now, eBay is able to scale its management of payments
globally, offering buyers more choice and flexibility in payment
options and simplifying business operations for sellers. At the end
of Q2, eBay had already enrolled over 255,000 sellers in managed
payments globally. Since launch, eBay has managed payments for
nearly 42,000 sellers and processed $4.7
billion in GMV. The company continues to be on track with
its roll out of managed payments, transitioning a majority of
sellers on its marketplace into the experience in 2021 and aiming
to complete the process in 2022. Managed payments is expected to
deliver $2 billion in revenue and
$500 million in operating income in
2022.
Buyer & Seller Benefits
For Buyers
- Greater choice and relevant set of payment options at
checkout: eBay plans to offer buyers a variety of payment options,
including credit card and PayPal. Apple Pay will be available as a
payment option on iPhone and iPad. Google Pay will be available on
the eBay site and on the eBay Android App.
- A checkout experience that begins and ends on eBay. By managing
payments, eBay is able to deliver a more streamlined experience
through the entire purchase and post-order process.
- Buyer Protection: Eligible purchases made in the new
payments experience are covered by local buyer protection programs,
independent of payment method used.
For Sellers
- Greater sales reach: Offering buyers more choice and
options for how they pay and enabling buyers around the globe to
pay in the ways that are most relevant to them.
- A central place to manage the business: Sellers will
experience easier account management with all information about
their eBay business, inclusive of payments information, in one
place, so that sellers can easily track and manage all of their
transactions and customer interactions on eBay. This will also
include one centralized customer service experience.
- Simplified seller protections provided by eBay.
- Payouts directly to their bank account: Consistently initiated
within two business days of an order confirmation, regardless of
how the buyer paid, with the option to choose a weekly or daily
frequency, as funds are available.
Learn more at ebayinc.com/payments.
About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that
connects millions of buyers and sellers around the world. We exist
to enable economic opportunity for individuals, entrepreneurs,
businesses and organizations of all sizes. Our portfolio of brands
includes eBay Marketplace and eBay Classifieds Group, operating in
190 markets around the world.
Forward-Looking Statements
This announcement contains forward-looking statements relating
to, among other things, the future events and future performance of
the company and reflect, among other things, eBay's expectation
regarding the anticipated benefits of the company's initiative to
intermediate payments on its Marketplace platform.
Forward-looking statements involve risks and uncertainties which
may cause actual results to differ materially from the statements
made. Factors that could cause or contribute to such differences
include, but are not limited to: changes in political, business and
economic conditions, any regional or general economic downturn or
crisis and any conditions that affect ecommerce growth or
cross-border trade; the timing and possible outcome of this
initiative; and the possibility that it may take the company longer
than expected to fully realize any anticipated benefits of the
initiative, and those benefits may ultimately be smaller than
anticipated or may not be realized at all.
More information about factors that could affect the company's
operating results is included under the captions "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in the company's most recent Annual Report
on Form 10-K and subsequent quarterly reports on Form 10-Q, copies
of which may be obtained by visiting the company's Investor
Relations website at https://investors.ebayinc.com or the SEC's
website at www.sec.gov. All information in this release is as of
September 9, 2020. Undue reliance
should not be placed on the forward-looking statements in this
press release, which are based on information available to the
company on the date hereof. The company assumes no obligation to
update such statements.
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SOURCE eBay Inc.