eBay is Bringing Managed Payments to The U.K. This Summer

eBay announced it is the United Kingdom’s turn for its Managed Payments program.

This summer, the company will offer buyers flexibility and choice in payment methods and give sellers an easier way to manage their businesses.

The U.K. is the third market to offer eBay’s new payments experience, after the U.S. and Germany.

“We’re creating a modern managed marketplace. Taking control of the payments process on our platform is a key component of our strategy to enhance the eBay experience by breaking down barriers and removing complexities for our customers. We’ve seen great success in the U.S. and Germany and we’re thrilled to expand to the U.K.”

 

VP of Global Payments Alyssa Cutright

eBay plans to offer buyers in the U.K. a variety of payment options, including credit card, Google Pay and PayPal. Apple Pay will also be available as a payment option on the iPhone and iPad.

“By starting to manage payments in the U.K. this year, we’re taking another step to deliver improvements for our customers. We know that sellers and buyers expect smooth and seamless transactions, and this new payments experience is designed to offer exactly that. In the coming months, we will make the transition as smooth as possible for sellers so they can take advantage of this important update quickly.”

 

VP of eBay U.K. Rob Hattrell

eBay started managing payments on its platform in the U.S. with a select group of sellers in September 2018 and expanded the experience to Germany in September 2019.

The rollout has been paced by the terms of the Operating Agreement with PayPal, which expires in the second half of this year.

eBay Has Processed Over $2 billion in GMV With Managed Payments

The company says it is making progress with its managed payments, having processed more than $2 billion in GMV for almost 25,000 sellers, and saving sellers almost $10 million as of the end of Q4 2019.

Later this year, the company will continue its global expansion and expects to have transitioned a majority of its U.K. business sellers by the end of 2020 and a majority of its marketplace customers in 2021.

What are your thoughts on eBay bringing Managed Payments to the U.K.?

Please use the comments section below or head over to our Facebook Group for Small Business Sellers and interact with other small business owners.

Follow us on Facebook, Twitter, and LinkedIn to stay up to date with relevant news and business insights for your online business.