eBay to roll out managed payments globally
EBay Inc. has begun launching its managed payments program on a global scale, following successful rollouts in the U.S. and Germany and the expiration of a prior operating agreement with PayPal.
The company said that at the end of the second quarter, the company is managing payments for 42,000 sellers and has processed $4.7 billion in gross merchandising volume.
"Today marks a significant milestone for eBay on our journey towards a technology-led reimagination of our marketplace and provides a simpler and seamless experience for our buyers and sellers around the world," Jamie Iannone, president and CEO of eBay, said in a company release. "We have already seen incredible momentum with managed payments and w expect it to deliver $2 billion in revenue and $500 million of operating income in 2022."
The program allows buyers to offer a variety of payment options on the platform, including credit, debit, gift cards and PayPal. Apple Pay is a payment option for customers on iPhone or iPad. Google Pay is an option for customers on the eBay site and eBay Android app.
German buyers can use SEPA direct debit, while Australian buyers can use Afterpay and Canadian buyers can use PayBright. The company will begin activating managed payments in the U.K., Australia and Canada in the coming weeks.