eBay will expand its Managed Payments mandate to sellers in China in April, the company announced on Monday.
For context, eBay said it managed payments for over 20% of “on-platform” volume during the third quarter, with over 340,000 active sellers enrolled in the program worldwide. (eBay will likely provide an updated figure when it releases 4th quarter financials in 2 weeks.)
eBay began managing payments on its platform in the US for a select group of sellers in September 2018 (and has ramped up enrollment since then), followed by Germany, the UK, Australia and Canada. In the first quarter of this year it was slated to expand Managed Payments to France, Italy and Spain.
“The company continues to be on track to roll out managed payments globally, transitioning a majority of sellers on its marketplace into the experience in 2021,” it said in Monday’s announcement.
In a video published to YouTube on Jul 30, 2020, eBay presented a timeline of the geographic rollout of Managed Payments:
On Monday, eBay Vice President of Global Payments at eBay Alyssa Cutright said, “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.”
“We are creating a modern managed marketplace,” she continued. “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.
“Sellers in Greater China place a high value on a convenient and seamless selling experience on eBay’s sites across the globe, and they typically manage multiple accounts and need streamlined operations. The offering will drive significant efficiencies and benefits for our customers, including helping our buyers pay the way they want. We will transition all sellers in the coming months and have designed our processes with our sellers in mind so they can easily and quickly take advantage of this important change.”
You can find the full announcement on the eBay corporate blog.