Starting today, eBay is now managing payments on its marketplace in France, Italy and Spain. By managing the end-to-end payments process on its platform, eBay is creating a more streamlined experience for customers — offering buyers more flexibility and choice in payment methods and giving sellers an easier way to manage their businesses.
As of the fourth quarter of 2020, eBay is managing payments for more than 1 million sellers worldwide, with over 38 percent of the company’s global on-platform volume processed through managed payments during the quarter. After initially launching in the U.S. during late 2018, the company has expanded its management of payments to Germany, the U.K., Australia, Canada and is now adding France, Italy and Spain, with Greater China coming soon. The company remains on track to transition the majority of sellers on its marketplace into the experience in 2021.
Strengthening the Customer Experience Through Managed Payments
Through managed payments, eBay is creating a simpler, more modern managed marketplace in service of our customers — all to empower people and create economic opportunity for all. By fully managing the end-to-end payments experience for our customers, our buyers win, our sellers win and our marketplace wins.
- New ways to pay. eBay will offer buyers a variety of payment options, including credit and debit cards as well as 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 purchase experience that begins and ends on eBay, regardless of the way a buyer pays. By offering managed payments, eBay is able to deliver a more streamlined experience through the entire purchase and post-order process.
- Offer more flexibility to buyers. By offering buyers more choice in how they pay, buyers around the globe can pay in the ways that are most relevant to them.
- A central place to manage their 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 a centralized location for customer service help.
- Payouts directly to your bank account, consistently initiated within 2-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.
By managing payments, eBay is able to provide a simpler experience for customers that’s consistent with today’s retail standards. Now, more than ever, as more people around the world are increasingly shopping online, our teams are consistently examining customer feedback and meticulously refining the payments experience based on that feedback.
*Payouts initiated Monday through Friday, excluding bank holidays
Learn more at ebayinc.com/payments.
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 March 3, 2021. 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.