eBay and PayPal announced they have extended their credit agreement so that eBay will continue to accept and promote PayPal Credit on its Marketplace platform.
“As part of our strong partnership with PayPal, we are pleased to continue to offer PayPal Credit to the millions of consumers who transact on the eBay platform,” said Alyssa Cutright, vice president of payments at eBay.
eBay has been offering PayPal Credit to its buyers since 2008. The payment option gives its shoppers choice and flexibility in how they pay.
“Providing the best payment experiences to our shared customers is at the core of everything we do,” said Mark Britto, senior vice president and general manager of global credit at PayPal. “We look forward to offering an unmatched range of consumer financing options for eBay customers through PayPal Credit.”
Earlier this year, the two companies announced that they signed a new agreement in which eBay will offer PayPal as a payment method until July of 2023.
eBay and PayPal said the new agreement builds on a deal to make PayPal a payment option on eBay’s new payments model and will ensure that PayPal continues to be available to buyers on the eBay marketplace. The deal includes payments via the PayPal payment button, as well as other services, including fraud detection and buyer protections.
“PayPal has been a great partner for eBay, and as part of our new payments experience, PayPal will continue to be a key form of payment for our global customers,” said Devin Wenig, president and CEO of eBay, in the press release. “We are pleased to continue to offer PayPal as a form of payment on eBay and look forward to a continued, strong partnership with PayPal going forward.”
As part of its earnings announcement in February, eBay also revealed it would move to bring payments between buyers and sellers into its own orbit, and has struck a deal to bring Adyen on board as payments processor. The move will lower costs along the online marketplace by offering more options at checkout for consumers.