eBay is expanding its Managed Payments mandate in Europe, it announced on Wednesday. eBay will begin enrolling sellers in France, Italy, and Spain into the program in early 2021.
eBay began managing payments on its platform in the US for a select group of eligible sellers in September 2018, followed by expansions to Germany in 2019 and the UK, Australia and Canada earlier this year.
eBay is now working to scale its management of payments to all countries.
Alyssa Cutright, eBay Vice President of Global Payments, was cited in the press release touting its benefits. “By managing the payments process, we’re creating a simpler, more unified experience for our customers, and streamlining operations for our sellers with one place to sell and get paid,” she said.
“At the end of Q2, eBay had already enrolled over 255,000 sellers in managed payments globally. Since launch, eBay has managed payments for nearly 42,000 sellers and processed $4.7 billion in GMV. The company continues to be on track with its roll out of managed payments, transitioning a majority of sellers on its marketplace into the experience in 2021 and aiming to complete the process in 2022. Managed payments is expected to deliver $2 billion in revenue and $500 million in operating income in 2022.”
eBay expanded on the benefits of the program to buyers and sellers, you can find the full press release on the eBayInc.com corporate website.