eBay will continue to expand its managed payments offering to Germany, subject to regulatory approval. The company aims to offer buyers flexibility and choice in payment methods and give sellers access to a new market of customers.
eBay continues to see accelerated momentum with its managed payments, having processed a total of $363M in GMV and saving sellers $2.7M as of the end of Q1 2019.
“Bringing our managed payments experience to Germany will provide a diverse testing ground for more payment methods as we expand globally,” said Alyssa Cutright, Vice President of Global Payments, Billing & Risk at eBay. “Across the 190 markets our sellers serve around the world, there is a pent-up demand for a checkout experience on eBay that is more consistent with retail standards and with more flexibility and choice for payment options. When managed payments becomes available in Germany and we continue to offer additional ways to pay, our sellers will gain more opportunities to access new buyers, who in turn will be able to pay how they choose in the streamlined payments experience.”
“Germany is one of eBay’s largest markets globally and German customers place a high value on a convenient and seamless shopping experience, including a preference for a variety of payment options,” said Eben Sermon, Vice President of eBay Germany. “This makes the German marketplace the perfect choice for expanding the new payments experience beyond the U.S. The offering will drive significant efficiencies and benefits for our customers, including helping our buyers pay the way they want.”
eBay plans to offer buyers in Germany a variety of payment options, including credit card, direct debit, Apple Pay, Google Pay and PayPal.
The company began offering end-to-end managed payments on its platform in the U.S. with a select group of eligible sellers in September 2018. In addition to attracting buyers with more ways to pay, the new payments model aims to simplify the business processes for sellers–and most sellers can expect lower costs.
Forward Looking Statements
This announcement contains forward-looking statements relating to, among other things, the future events and future performance of the company and reflect, among other things, eBay’s expectation regarding the anticipated benefits of the company’s initiative to intermediate payments on its Marketplace platform.
Forward-looking statements involve risks and uncertainties which may cause actual results to differ materially from the statements made. Factors that could cause or contribute to such differences include, but are not limited to: changes in political, business and economic conditions, any regional or general economic downturn or crisis and any conditions that affect ecommerce growth or cross-border trade; the timing and possible outcome of this initiative; the possibility that the initiative may be delayed or abandoned; and the possibility that it may take the company longer than expected to fully realize any anticipated benefits of the initiative, and those benefits may ultimately be smaller than anticipated or may not be realized at all.
More information about factors that could affect the company’s operating results is included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the company’s most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q, copies of which may be obtained by visiting the company’s Investor Relations website at https://investors.ebayinc.com or the SEC’s website at www.sec.gov. All information in this release is as of April 23, 2019. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the company on the date hereof. The company assumes no obligation to update such statements.