eBay Begins Managing Payments in the U.S.

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eBay announced it will begin managing transaction payments in the U.S., which will let shoppers complete their purchases entirely on eBay’s site.  Sellers will no longer be paid directly from buyers via PayPal; instead, they will be paid daily and directly to their bank accounts via eBay.

“The introduction of eBay’s new payments experience in the U.S. marks a significant milestone in our managed payments journey,” said Steve Fisher, Senior Vice President of Payments at eBay in a press release. “Looking ahead to 2019, we will expand our new experience to more buyers and sellers in the US and begin rolling out our new payments experience outside the U.S.”

Since eBay operates in 190 markets, it will also provide localized payment options for buyers and sellers that are tailored to meet their needs.

Sellers benefit from a simplified payments structure, more predictable access to their funds and visibility into sales and payouts.

Buyers benefit in that eBay promises better payment options at checkout.  In July, eBay announced that Apple Pay would be among the first mobile forms of payment offered in its new payment experience.

eBay will continue to expand managed payments to buyers and sellers over time and expects to transition most marketplace customers to its new payments experience by 2021.