Recap: eBay and PayPal were attached at the hip for well over a decade, each helping to build up the other. That changed in late 2014 when eBay announced plans to spin PayPal off into a separate company, sending eBay down a path of independence and freeing it up to work with other payment processors.
eBay earlier this year signed a deal to have Adyen become its primary payments processing partner, further distancing itself from long-time associate PayPal and putting it in a position to manage the end-to-end payments flow on its platform.
As part of the transition which kicks off on a limited scale in the US this fall, eBay announced on Tuesday that buyers will be able to use Apple Pay to purchase items from select sellers.
Using Apple Pay on iOS and Safari, shoppers will be able to check out on the mobile web and in eBay’s app.
Steve Fisher, senior vice president of payments at eBay, said managing the end-to-end payments experience on eBay’s Marketplace is a key initiative for the company, adding that they look forward to offering global customers many other forms of payments as they expand their new payments experience over the coming months.
eBay on Tuesday also announced a partnership with Square Capital that’ll allow eligible sellers to apply for loans of as little as $500 or as much as $100,000 to help cover business expenses like inventory, marketing, equipment and payroll.
Since 2014, Square Capital has loaned out roughly $2.8 billion to more than 180,000 businesses, expanding access to capital to those who may have been underserved when seeking funding. The company says its offers a simple loan application process that takes only a few steps, adding that funding can be in the hands of approved customers in as little as one business day.
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