eBay Is Currently Evaluating The Integration Of Crypto Payments

Ecommerce giant eBay is looking into integrating crypto payments, as the company wants to capture the GenZ and millennial audiences. According to the CEO Jamie Iannone it might happen very soon.

The 1995 established eBay is one of the oldest e-commerce entities. In an exclusive interview with The Street, Iannone hinted that the official announcement for the crypto integration on the platform could happen during the upcoming investor’s day on March 10.

The eBay CEO commented:

“We’re just completing our transition to managing payments where we’re now managing $85 billion of volume on our platform directly. This gives us the ability to open up new forms of payment.”

As of now, eBay has integrated Google Pay and Apple Pay on its platform. It has also inked a deal with an Australian fintech company, Afterpay, which Iannone, is “a platform that appeals to Gen Z.”

“And so we continue to evaluate other forms of payments that we should take on the platform. We don’t currently accept cryptocurrency on the platform.”

eBay and NFTs

eBay was looking into adding Bitcoin (BTC) as a payment mode to its retail platform as early as 2014. Iannone years later said that the e-commerce giant was in no hurry to add other payment options such as crypto but noted that it wanted to continue exploring more.

On the other hand, eBay has placed big bets on the growing NFT sector in May last year, when the company the company the sale of non-fungible tokens (NFTs) on its platform. Only whitelisted sellers were allowed to list and sell NFTs.

In addition to eBay, global payment giant PayPal and Chinese e-commerce company JD.com also dived into the NFT space last year.