“eBay will begin accepting Apple Pay in the fall and, through a new deal with Square, offer merchant loans of up to $100,000,” Spencer Soper reports for Bloomberg. “The new alliances follow EBay’s February announcement to gradually shift its payments processing business from PayPal to Adyen.”
“Apple Pay, which will be available on a limited basis on eBay beginning in the fall, gains access to a global marketplace where shoppers spent $88.4 billion last year,” Soper reports. “Square gets visibility into the financial risk of millions of small eBay merchants, providing valuable leads on potential loan customers. Loans, issued by Salt Lake City-based Celtic Bank, will be offered to eBay merchants beginning in September.”
“PayPal will continue to be a payment option on eBay at least until July 2023. The companies have been slowly unwinding from each other according to the terms of a separation agreement,” Soper reports. “eBay could shore up some sales for loyal iPhone users who occasionally back out of purchases when Apple Pay isn’t accepted.”
Read more in the full article here.
MacDailyNews Take: Another win for Apple Pay!
SEE ALSO:
Apple debuts ‘Summertime savings with Apple Pay’ with exclusive offers thru August 1st – July 20, 2018
Apple Pay dominates with far more users than Samsung Pay, Google Pay, and other OEM pay systems combined – June 27, 2018
Apple teams with Goldman Sachs on new ‘Apple Pay’ credit card due early next year – May 10, 2018
10% of young adult Americans have used Apple Pay in-store, well ahead of rivals – February 28, 2018
Apple Pay Cash international roll out begins – February 23, 2018
Apple Pay users more than double globally, but only 16% of iPhone users have activated Apple Pay – February 22, 2018
Apple Pay now accepted in 50 percent of U.S. stores and is the world’s most accepted contactless payment system – January 31, 2018
watchOS 4.2 delivers Apple Pay Cash to Apple Watch – December 5, 2017
Apple Pay now in 20 countries, takes 90% of all contactless payments where active – October 24, 2017
Apple Pay is proliferating, and the banks are scared – October 18, 2017
Apple Pay likely to get boost from Visa and Mastercard mandating contactless payment terminals – August 21, 2017
Apple Pay usage estimated to rise sharply in United States due to frustration with slow Chip-and-PIN cards – August 21, 2017
That is great news, and the sooner the better. Another company i would like to use Apple pay is Amazon.
So in the future PayPal will NOT be an option on eBay? What the hell, that makes no sense. The two have worked together seamlessly for me for years, so why would they do this? I still can’t use Apple Pay because my darn credit union won’t get off the fence and initiate it’s use.
PayPal will be an option through 2021. After that, it will not be.
I’d like to hear the actual reasoning behind it because the article doesn’t really make it clear. To me that’s like saying “We will take MasterCard but not Visa”. Is it because of fees involved or what, because right now most people use PayPal on eBay. And I’m pretty sure more people have PayPal than Apple Pay.
It is great news! And it is for Apple. But it’s even better news for those who will now have access to Apple Pay, as there is no easier or safer method of payment for consumers.
I work for eBay. While this is true, I can tell you when they say “limited bases” they mean “limited”. Probably won’t see it on at least half the site until late 2019 and in full adoption by end of 2020. But hey, it’s a start. PayPal is confusing to many buyers because the relationship is based on 2002 and it doesn’t make sense in today’s digital age with the direction PayPal is moving.