eBay adds Apple Pay as a payment option
The website has also teamed up with Square Capital to give sellers access to funds they can borrow.
eBay is spreading its wings now that it has officially started transitioning to a non-PayPal payment system. This fall, it's adding Apple Pay as one of its first options on the new payment platform, giving people a way to purchase goods through eBay's mobile app or through its website on Safari using Cupertino's digital wallet. The option will initially be available to a small group of Marketplace customers given the chance to participate in the first phase of Apple Pay's rollout, so buyers won't be encountering it at every turn yet. eBay plans to move more people to the new payment platform next year, though, and aims to finish transitioning everyone to it by 2021.
While the auction website split from PayPal way back in 2015, it only just announced that it's moving to an integrated payment system built by Amsterdam-based company Adyen earlier this year. Since Adyen's product is purely a back-end service, the company can add multiple checkout options -- Apple Pay will most likely be just one of many. With an integrated platform, shoppers can now check out from within eBay itself instead of having to log into another service like PayPal. For sellers, it also means lower processing charges.
Steve Fisher, eBay's SVP of Payments, said in a statement:
"Apple Pay is one of the most ubiquitous forms of payments and provides users with an easy, fast and secure way to pay. Offering Apple Pay as a form of payment on eBay is the first step in providing more choice and flexibility in payment options to our tens of millions of buyers."
eBay has also announced that it's teaming up with Square's quick financing service. Under its partnership with Square Capital, sellers can apply for loans from $500 up to $100,000 to grow their business, though the option will only be available to select customers in the US.
