Fueling e-commerce: eBay expands payment management
E-commerce giant eBay is reportedly expanding its management of payments to Canada and Australia, the fourth and fifth countries to receive the new service.
Joining the US, UK and Germany, these two countries will be able to experience digital transactions which are far more frictionless and much less complex.
"By managing payments on our platform, we are enhancing the eBay experience by breaking down barriers and removing complexities for our customers," stated Alyssa Cutright, VP of Global Payments.
"We're excited to roll out the new experience globally this year, with Australia and Canada joining our growing roster of countries."
Whilst the COVID-19 pandemic has arguably hastened the decline of brick and mortar (B&M) stores in favour of digital equivalents - McKinsey cites this as evidence of a paradigm shift in consumer behaviour - e-commerce has nonetheless been accelerating in popularity for the past 15 years.
With some estimating that it will, in fact, entirely overtake B&M shopping by 2024, the question of how to make the transactions of a global, digital marketplace as frictionless as possible is being answered by innovative fintechs around the world.
This attitude, as expressed by eBay, says Rob Bigler, GM of its Canadian branch, can only serve as a benefit to consumers.
"This change will improve how Canadian buyers and sellers transact on eBay by allowing them more choice and a seamless payment experience.
"We look forward to bringing this important upgrade to Canada and will be supporting our sellers to ensure a timely and smooth transition,” he added.
eBay’s transaction records as of 2019 have been highly successful, with US$2bn in GMV (gross merchandise volume) processed. The aforementioned rollout is expected to commence sometime after July 2020, with global expansion ear-marked for 2021.
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