eBay Continues to Expand its Management of Payments to Australia and Canada

Press Release from eBay

Later this year, Australia and Canada will be the fourth and fifth countries where eBay will manage payments.

SAN JOSE, Calif., April 20, 2020 /PRNewswire/ -- As eBay continues to modernize its marketplace and create a more streamlined experience for buyers and sellers, the company is expanding its management of payments to Australia and Canada later this year. Australia and Canada are the fourth and fifth countries to offer eBay's new payments experience, after the U.S., Germany and the U.K.

eBay (www.ebay.com)

"By managing payments on our platform, we are enhancing the eBay experience by breaking down barriers and removing complexities for our customers," said VP of Global Payments Alyssa Cutright. "We're excited to roll out the new experience globally this year, with Australia and Canada joining our growing roster of countries."

"As Australia's number one online shopping destination, we are thrilled to be offering more choice to buyers in how they pay. And for our 40,000 Australian small-and medium-sized businesses, they will be able to sell and get paid all in one place," said Managing Director of eBay Australia Tim MacKinnon. "Now more than ever, running a small business is tough and we are pleased to make it easier and lower costs for most sellers as we manage payments."

"This change will improve how Canadian buyers and sellers transact on eBay by allowing them more choice and a seamless payment experience," said General Manager of eBay Canada Rob Bigler. "We look forward to bringing this important upgrade to Canada and will be supporting our sellers to ensure a timely and smooth transition."

eBay plans to offer buyers in Australia and Canada a variety of payment options, including credit card and PayPal. Apple Pay will be available as a payment option on iPhone and iPad. Google Pay will also be available on the eBay site as well as on the eBay Android App. The company has recently enabled Afterpay as a payment option for buyers in Australia and Paybright as a payment option for buyers in Canada.

The rollout has been paced by the terms of the Operating Agreement with PayPal, which expires in July. 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 company has made tremendous progress with its new payments experience, having processed more than $2 billion in GMV for over 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 the sellers on its marketplace into the new payments experience in 2021.

About eBay

eBay Inc. (Nasdaq: EBAY) is a global commerce leader including the Marketplace and Classifieds platforms. Collectively, we connect millions of buyers and sellers around the world, empowering people and creating opportunity for all. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection.

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