“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.”
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MacDailyNews Take: Another win for Apple Pay!
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