As many of you know, eBay is transitioning to non-PayPal form payments. They have plans to have everyone moved over to this new payment system by 2021. One of the first forms of this new payment system to be offered is Apple Pay, which will be offered to limited users starting Fall 2018.
Steve Fisher, eBay’s SVP of Payments, said in a statement:
“Apple Pay is one of the most ubiquitous forms of payments and provides users with an easy, fast and secure way to pay. Offering Apple Pay as a form of payment on eBay is the first step in providing more choice and flexibility in payment options to our tens of millions of buyers.”
As eBay expands it’s new payment system from 2019 onward to 2021, Apple Pay will become available for a wider array of users in more geographical areas.
PayPal currently reigns as the default payment form in eBay. However, as part of eBay’s process to distance itself, it’s new payment initiative will offer a wider variety of options for customers to choose from. The first of this, Apple Pay, will allow buyers to purchase products in iOS and Safari in order to check out on both eBay’s app and the mobile web.
On adding later forms of payment in the future, Steve Fisher also said:
“Managing the end-to-end payments experience on eBay’s Marketplace is a key initiative for the company. As we expand our new payments experience over the coming months, we look forward to offering our global customers many other forms of payments on our platform.”
The additional payment structure comes from eBay and PayPal’s separation back in 2015, said to benefit both companies.
Along the same lines, eBay has also announced a new partnership with company Square Capital. Square Capital will offer US sellers financing to help grow their businesses. These sellers will be able to apply for $500 up to $100,000 of financing for various business needs, including inventory, marketing, or equipment. eBay’s ideas for this came from a ci
ted survey that 70% of small businesses didn’t receive the funding they wanted or needed. You can see our article related to some more traditional ways that eBay sellers can finance their businesses here.