At the end the second quarter of this year, more than 13 million eBay sellers were using managed payments, with the marketplace processing over 80% of on-platform gross merchandise volume. By the end of the third quarter, eBay expects to handle 90% of the volume.
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“Our journey is progressing faster than we expected,” Cutright said, adding that last year, just 340,000 — about 20% — of merchants were on managed payments.”
eBay moved in the direction of managed payments to offer an easier payment and checkout experience for its community of sellers. The concept was developed with merchants’ input and feedback in order to best support their daily operations.
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Seller Shari Smith told eBay that the managed payments tool has made her accounting processes and overall operations easier. Another seller, Monica Gamboa, said she makes use of the expanded options and convenient payouts.
Buyers, too, have an enhanced shopping experience on eBay with the new feature, with the ability to checkout fast with more ways to pay, including using digital wallets with Apple Pay, Google Pay, and buy-now-pay-later platform Afterpay.
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“The world looks different from when we began this payments evolution in 2018,” Cutright said in the post. “The pandemic has changed eCommerce, making every payment innovation more important as small businesses turn to sell online to sustain their livelihoods and buyers look to virtual storefronts to find the items they need and want.”
