Thursday , March 28, 2024

eBay Adds Apple Pay Acceptance And Square Capital As It Unwinds Its PayPal Connection

Marketplace giant eBay Inc. will add Apple Pay acceptance for consumers and access to merchant funding via Square Inc.’s Square Capital this fall as the San Jose, Calif.-based company works on managing its own payments system.

EBay is disengaging from payment services provided by PayPal Holdings Inc. In January, PayPal said it would continue to be a checkout method on eBay until 2021, but by then PayPal would simply be one of a number of payment options available to eBay users. Instead, Amsterdam-based processor Adyen will take over the back-end payments processing for eBay.

The marketplace says Apple Inc.’s Apple Pay will be a checkout option early this fall on iOS devices and within the Safari Web browser. EBay says it is on track to start managing payments on “limited scale” within the United States at that time.

“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,” Steve Fisher, eBay senior vice president of payments, said in a press release.

The marketplace also announced eBay merchants will be eligible for merchant funding up to $100,000 via Square Capital later this year. EBay says select merchants will begin receiving email invitations in the third quarter to apply for a loan through Square Capital. Both eBay and Square will market directly to eBay sellers. Loan amounts can be for as little as $500.

Check Also

Buying Groups Might—or Might Not—Give Merchants More Negotiating Power with the Card Networks

Card-acceptance costs and network rules weren’t the only subjects covered by the sweeping settlement revealed …

Digital Transactions