Categories: Retail

eBay Adds Apple Pay

Apple Pay is coming to eBay.

As the online marketplace moves away from its official relationship with PayPal, it is moving into new relationships with new providers. As of this fall, Apple Pay will be one of the first new options on its new payment platform, making it possible for customers to either use Apple Pay in eBay’s mobile app, or for web purchases (provided they are using Safari as Apple Pay doesn’t work with Chrome or other browsers).

The Apple Pay option will roll out slowly at first — only a small group of select Marketplace customers will get to use Apple Pay in the first phase of its introduction to eBay. The goal, however, is to make the transition to their own in-house payment platform by the end of 2021.

The transition marks a definitive split from PayPal. eBay formally parted ways with PayPal in 2015, when it spun out as a stand-alone firm. eBay — as their contractually mandated partnership with PayPal is drawing to a close — is now working with Amsterdam-based company Adyen to construct their own payment system.

Since Adyen’s product is purely a back-end service, eBay is apparently planning to add a few front-end checkout options — Apple Pay will most likely be one of many. The new platform will mean that eBay pays less for processing, and that users will be able to checkout directly from eBay without have to log in to a third-party provider like PayPal.

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.”

On top of the Apple Pay announcement, eBay also noted that it is pairing with Square’s quick financing service. The new deal with Square Capital will allow sellers on eBay to apply for loans from $500 to $100,000. The service will roll out to select U.S. customers.

——————————–

Featured PYMNTS Study:

With eyes on lowering costs to improving cash flow, 85 percent of U.S. firms plan to make real-time payments integral to their operations within three years. However, some firms still feel technical barriers stand in the way. In the January 2020 Making Real-Time Payments A Reality Study, PYMNTS surveyed more than 500 financial executives to examine what it will take to channel RTP interest into real-world adoption. Here’s what we learned.

Recent Posts

Monzo Courts SoftBank As Part Of £100M Capital Raise

British banking unicorn Monzo is in talks with Japanese investment conglomerate SoftBank for financial assistance in its growth plans into…

21 mins ago

Codat, Temenos Partner For Bank, SMB Alliance

Swiss banking software firm Temenos is partnering with London accounting API startup Codat, Temenos announced on Friday (Jan. 24). “I…

1 hour ago

New EU Policy Pushes For Data Sharing To Foster Blockchain, AI Use

The EU is looking to adopt new antitrust rules that will aim to give European companies more leeway in the…

1 hour ago

SoftBank To Lead $125M Round For LATAM FinTech AlphaCredit

Latin America-based AlphaCredit has signed up for a funding round to raise $125 million, led by SoftBank’s Latin America fund.…

2 hours ago

Microsoft Health Exec Calls For More Transparency Of Patient Data

Peter Lee, corporate vice president of Microsoft Healthcare, wants to make sure patients have access to their healthcare records. Lee,…

2 hours ago

Bank Of France Gov Says Central Banks Should Control Crypto

Bank of France Governor Francois Villeroy de Galhau said on Saturday (Jan. 25) that central banks should be in charge…

2 hours ago