Introduction of eBay’s new managed payments experience in Germany
eBay brings managed payments to Germany. Source: shutterstock.com
eBay announced that it now has begun managing the end-to-end payments process on its Marketplace platform in Germany. eBay began offering managed payments on its platform in the US with a select group of eligible sellers in September 2018. Germany is now the second country to introduce a new experience. The company onboarded the first German sellers over the past few days. In the coming weeks, eBay will be inviting more sellers to managed payments who use eBay features compatible with the initial experience.
In the eBay managed payments experience, buyers will have more choice and flexibility in payment options. Sellers will benefit from buyers enjoying more ways to pay and from having a central place to manage their business. Many will also see lower overall selling costs.
For buyers, eBay managed payments give a more relevant set of payment options at checkout, including credit card, direct debit, Apple Pay, Google Pay and PayPal.
For sellers, it is 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 they can easily track and manage all of their transactions and customer interactions on eBay. Most sellers can also expect their costs of payments processing to be reduced with the new payments experience. Moreover, sellers will no longer be paid from buyers. Instead, payouts will be sent from eBay directly to seller’ bank accounts.
On a global level, eBay will continue to expand managed payments to buyers and sellers over time and expects to have transitioned a majority of its marketplace customers to managed payments in 2021. In the US, thousands of sellers are now enabled for managed payments. At the end of the second quarter of 2019, $636 million in GMV had been processed through the new system.
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