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.
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