As part of modernising its marketplace and creating a more streamlined experience for customers, eBay is expanding its management of payments to the UK. As part of the rollout this summer, the company will offer buyers flexibility and choice in payment methods, and give sellers an easier way to manage their businesses.
eBay set to begin managing its own payments in the UK
The UK is the third market to offer eBay’s new payments experience, after the US and Germany.
“We’re creating a modern managed marketplace. Taking control of the payments process on our platform is a key component of our strategy to enhance the eBay experience by breaking down barriers and removing complexities for our customers,” comments Alyssa Cutright, VP of Global Payments . “We’ve seen great success in the US and Germany and we’re thrilled to expand to the UK ”
“By starting to manage payments in the UK this year, we’re taking another step to deliver improvements for our customers,” continues Rob Hattrell, VP, eBay UK . “We know that sellers and buyers expect smooth and seamless transactions, and this new payments experience is designed to offer exactly that. In the coming months, we will make the transition as smooth as possible for sellers so they can take advantage of this important update quickly.”
eBay plans to offer buyers in the UK a variety of payment options, including credit card, Google Pay and PayPal. Apple Pay will also be available as a payment option on iPhone and iPad.
eBay started managing payments on its platform in the US with a select group of sellers in September 2018, and expanded the experience to Germany in September 2019. The rollout has been paced by the terms of the Operating Agreement with PayPal, which expires in H2 2020.
The company continues to make tremendous progress with its managed payments, having processed more than $2 billion in GMV for almost 25,000 sellers, and saving sellers almost $10 million as of the end of Q4 2019. Later this year, the company will continue its global expansion and expects to have transitioned a majority of its UK business sellers by the end of 2020 and a majority of its marketplace customers in 2021.
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