eBay and PayPal finalise new payment deal

Auction marketplace eBay has confirmed that it will offer PayPal as a way to pay on its website until July 2023, making PayPal a payment option on its 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,” said Devin Wenig, president and chief executive of 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.”

The new agreement between eBay and PayPal extends the original deal by three years and means that buyers on the eBay marketplace will still be able to use 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,” added Dan Schulman, president and chief executive of PayPal. “We are excited to continue to provide our millions of mutual customers with innovative, trusted and seamless PayPal payment experiences.”

PayPal has more than 227 million active account holder and is available in more than 200 markets around the world, enabling 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.