eBay and PayPal Finalize New Payments Agreement
SAN JOSE, Calif.--(BUSINESS WIRE)--eBay (NASDAQ:EBAY) and PayPal (NASDAQ:PYPL) today confirmed the signing of a previously-announced agreement to offer PayPal as a way to pay on eBay until July 2023. This new agreement builds on the payments partnership between the companies to make PayPal available as a payment option on eBay’s new intermediated payments model.
“PayPal has been a great partner for eBay, and as part of our new payments experience PayPal will continue to be a key form of payment for our global customers”
“PayPal has been a great partner for eBay, and as part of our new payments experience PayPal will continue to be a key form of payment for our global customers,” said Devin Wenig, president and CEO, eBay. “We are pleased to continue to offer PayPal as a form of payment on eBay and look forward to a continued, strong partnership with PayPal going forward.”
As previously announced, the new agreement between eBay and PayPal will ensure that PayPal as a form of payment continues to be available to buyers on the eBay marketplace. PayPal as a form of payment includes payments through the PayPal payment button, as well as value-added services such as fraud detection and buyer protections.
“We are proud to have extended our relationship with eBay and our commitment to build on more than 15 years of collaboration and innovation with a great partner,” said Dan Schulman, president and CEO, PayPal. “We are excited to continue to provide our millions of mutual customers with innovative, trusted and seamless PayPal payment experiences.”
PayPal continues to provide a comprehensive payments solution to eBay under the existing Operating Agreement through July 2020.
eBay Inc. (NASDAQ:EBAY) is a global commerce leader including the Marketplace, StubHub and Classifieds platforms. Collectively, we connect millions of buyers and sellers around the world, empowering people and creating opportunity through Connected Commerce. Founded in 1995 in San Jose, Calif., eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2017, eBay enabled $88 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal Holdings, Inc. (NASDAQ:PYPL) is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Our open digital payments platform gives PayPal's 227 million active account holders the confidence to connect and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person. Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money, and offers choice and flexibility when sending payments, paying or getting paid. Available in more than 200 markets around the world, the PayPal platform, including Braintree, Venmo and Xoom, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies. For more information on PayPal, visit https://www.paypal.com/about or follow @PayPalNews on Twitter.
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