eBay expands managed payments to the UK market

eBay announced this week that it will be expanding its management of payments to the UK. The online platform has taken this step to modernise its marketplace and creating a more streamlined experience for customers.”

The global ecommerce said ‘the UK is the third market to offer eBay’s new payments experience, after the US and Germany.

The service will be available from this summer with the business saying it “will offer buyers flexibility and choice in payment methods, and give sellers an easier way to manage their businesses.”

eBay’s new rollout plans to offer UK consumers a wide range of payment options, such as credit cards, Google Pay and PayPal. In addition, Apple Pay will be available as a payment option on iPhone and iPad.

VP of Global Payments at eBay, Alyssa Cutright highlighted that the rollouts of this service in the US and Germany has been successful and that the business is “creating a modern managed marketplace. Taking control of the payments process on our platform is a key component of our strategy to enhance the eBay experience by breaking down barriers and removing complexities for our customers.”

In September 2018, the online market place started managing payments on its platform in the US with a specific group of sellers and decided to expand the service to Germany a year later.

VP of eBay UK, Rob Hattrell said: “By starting to manage payments in the U.K. this year, we’re taking another step to deliver improvements for our customers. We know that sellers and buyers expect smooth and seamless transactions. This new payments experience is designed to offer exactly that.”

“In the coming months, we will make the transition as smooth as possible for sellers so they can take advantage of this important update quickly.”

The decision to rollout its managed payment options to the UK has come in conjunction with its Operating Agreement with PayPal, which expires in the second half of 2020.

The company continues to make progress with its managed payments, having processed more than $2 billion in GMV for almost 25,000 sellers, and saving sellers almost $10 million as of the end of Q4 2019.

Later this year, eBay will continue its global expansion and expects to have transitioned a majority of its UK business sellers by the end of 2020 and a majority of its marketplace customers in 2021.