eBay launches global payment acquiring partnership
eBay Inc. has brought on a new partner in a move designed to help deliver seamless, localized digital payment capabilities to its customers in markets worldwide.
The e-commerce retailer, which has more than 2.3 billion live listings and is one of the world’s largest online marketplaces, is collaborating with Checkout.com to scale and optimize its payment performance in each of the 190 markets where it operates.
"eBay operates at a significant global scale, and our customers value speed, convenience and safety while shopping on our marketplace," said Avritti Khandurie Mittal, VP & GM of global payments and financial services at eBay.
As payment acquirer, Checkout.com will facilitate credit card payments from eBay buyers to eBay sellers in local currencies and according to local regulations.
"Our strategic partnership with Checkout.com enables us to continue delivering fast, reliable and frictionless payments experiences to millions of customers globally," said Khandurie. "The addition of Checkout.com to our partnership ecosystem highlights our continued commitment toward accelerating customer and business growth through uniquely eBay payments and financial services."
eBay is adding Checkout.com as a payment acquirer after making some significant changes to the payment types it accepts in the U.S. 2024, including integrating the Venmo digital payment platform.
As a result, buyers can pay for purchases with their Venmo balance or a bank account, debit or credit card linked to their Venmo account. Once buyers have linked their Venmo account to their eBay account, they can go through checkout without manually entering their payment details in subsequent transactions.
Sellers don’t need to do anything on their account to offer Venmo as a payment method. Meanwhile, in August 2024 eBay stopped accepting American Express cards as a payment option.
[READ MORE: eBay to stop accepting American Express]
"eBay is an iconic global commerce leader which continues to push the boundaries of digital commerce," said Checkout.com CEO Guillaume Pousaz. "Payments performance is critical at this enterprise-level scale, and our technology, data, and acquiring expertise will help eBay maximize acceptance in global markets and drive efficiency across its platform. Together, we’re shaping the future of the digital economy."
Founded in 1995 in San Jose, Calif., eBay enabled more than $73 billion of gross merchandise volume in 2023.
