eBay announced it will expand Managed Payments to Germany. According to the terms of its operating agreement with PayPal following the 2015 separation, eBay is allowed to expand its own payments processing to a second market in July.
eBay said it had processed a total of $363M in GMV and saved sellers $2.7M as of the end of Q1 2019. It’s currently available only in the US to a subset of users.
Press release follows:
eBay will continue to expand its managed payments offering to Germany, subject to regulatory approval. The company aims to offer buyers flexibility and choice in payment methods and give sellers access to a new market of customers.
eBay continues to see accelerated momentum with its managed payments, having processed a total of $363M in GMV and saving sellers $2.7M as of the end of Q1 2019.
“Bringing our managed payments experience to Germany will provide a diverse testing ground for more payment methods as we expand globally,” said Alyssa Cutright, Vice President of Global Payments, Billing & Risk at eBay. “Across the 190 markets our sellers serve around the world, there is a pent-up demand for a checkout experience on eBay that is more consistent with retail standards and with more flexibility and choice for payment options. When managed payments becomes available in Germany and we continue to offer additional ways to pay, our sellers will gain more opportunities to access new buyers, who in turn will be able to pay how they choose in the streamlined payments experience.”
“Germany is one of eBay’s largest markets globally and German customers place a high value on a convenient and seamless shopping experience, including a preference for a variety of payment options,” said Eben Sermon, Vice President of eBay Germany. “This makes the German marketplace the perfect choice for expanding the new payments experience beyond the U.S. The offering will drive significant efficiencies and benefits for our customers, including helping our buyers pay the way they want.”
eBay plans to offer buyers in Germany a variety of payment options, including credit card, direct debit, Apple Pay, Google Pay and PayPal.
The company began offering end-to-end managed payments on its platform in the U.S. with a select group of eligible sellers in September 2018. In addition to attracting buyers with more ways to pay, the new payments model aims to simplify the business processes for sellers–and most sellers can expect lower costs.
SOURCE: eBay Press Release