eBay expanding managed payments in Europe
eBay is bringing its managed payments service to sellers in three additional countries next year.
The e-commerce giant will manage payments in France, Italy, and Spain in Q1 2021. eBay began managing payments on its platform in the U.S. for a select group of eligible sellers in September 2018, followed by expansions to Germany in 2019 and the U.K., Australia, and Canada in July 2020. The company is now working to scale its management of payments to all countries.
Managed payments provide sellers with a more streamlined checkout experience with a single dashboard and end-to-end transaction and payment managed by eBay, eliminating third-party payment processing fees. Buyers will be able complete their checkout experience from desktop or mobile devices, and can select from a variety of payment options, including credit cards, PayPal, Apple Pay (on iPhone and iPad) and Google Pay (on the eBay site and Android app).
eBay’s managed payments also include API capabilities such as an account API which checks whether a seller is eligible for eBay managed payments, a fulfillment API that breaks down taxes and fees and manages buyer-initiated payment disputes, and a finances API which provides insights into financial activities on the platform for sellers enrolled in eBay managed payments. Support for active cross-border listings for sellers enrolled in managed payments launched in August.
“By managing the payments process, we’re creating a simpler, more unified experience for our customers, and streamlining operations for our sellers with one place to sell and get paid,” said Alyssa Cutright, VP of global payments at eBay. “As we continue expanding and scaling our management of payments around the world, we’re excited to add France, Italy and Spain to our growing roster of countries.”
At the end of Q2 2020, eBay says it had already enrolled over 255,000 sellers in managed payments globally. Since launch, eBay has managed payments for nearly 42,000 sellers and processed $4.7 billion in gross merchandise volume. The company intends to transition a majority of sellers on its marketplace into managed payments in 2021 and aims to complete the process in 2022. eBay expects managed payments is expected to deliver $2 billion in revenue and $500 million in operating income in 2022.