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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