Tuesday , August 11, 2020

eBay’s Pact With PayPal Nears End and other Digital Transactions News briefs from 7/13/20

  • Sellers continue to have questions about the impact of moving to eBay Inc.’s managed-payments program as the online marketplace’s five-year operating agreement with PayPal Holdings Inc. is set to expire later this week.
  • Financial-services platform Nymbus Inc. announced it will offer digital billing and other payment services from Payrailz LLC as part of its cloud-based set of banking products.
  • E-commerce installment credit provider Afterpay Ltd. said it will offer its services to customers of online merchants Drunk Elephant, New Balance, It Cosmetics, Living Proof, and ASOS.I
  • In related news, Afterpay reported sales volume of $3.8 billion for its June quarter, up 127% year-over-year as consumers shifted to e-commerce during the Covid-19 pandemic. The company also reported reaching 5.6 million active U.S. customers during the quarter.
  • Giact Systems, provider of data aimed at mitigating payments fraud, said it is donating its identity and account-verification services to the Brave of Heart Fund, which helps support the families of health-care workers and volunteers who have died in the battle against Covid-19. The company will help verify the identity of grant recipients.

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