eBay to fully rely on its own payment capabilities

Customers will be one step further toward a more modern managed marketplace

eBay PayPal

eBay to fully rely on its own payment capabilities. Source: shutterstock.com

eBay will fully launch its management of payments as its operating agreement with PayPal has officially expired.

As of Q2 2020, eBay is already managing payments for nearly 42,000 sellers and has processed $4.7 billion in GMV in the US and Germany.

Today marks a significant milestone for eBay on our journey toward a technology-led reimagination of our marketplace and provides a simpler and seamless experience for our buyers and sellers around the world. We have already seen incredible momentum with managed payments, and we expect it to deliver $2 billion in revenue and $500 million of operating income in 2022
Jamie Iannone, President and CEO of eBay

eBay managing payments will now simplify the process of selling and getting paid on the platform. This way, merchants will get an easier way to manage their business.

The company will also provide buyers with more flexibility in payment options by offering credit cards, debit cards, gift cards, and PayPal.

We’ve reported that eBay will transfer its Classifieds business to Adevinta for a total consideration valued at nearly $9.2 billion.

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