E-commerce giant eBay is targeting millennials and Gen Z by adding new payment options, including cryptocurrencies, CEO Jamie Iannone reported in an interview with The Street ..
“We are just now completing our transition to managing payments where we now manage $85 billion in volume on our platform directly. This gives us the ability to open up new forms of payment.”
“We opened Google Pay and Apple Pay. We have a partnership with Afterpay in Australia, which is a platform that appeals to Gen Z, and which is a buy now pay later platform in the marketplace.”
“And so we continue to evaluate other forms of payment that we should take on the platform. We currently do not accept cryptocurrencies on the platform.”
Does this mean eBay will add digital currencies like Bitcoin and Ethereum to payment methods? TheStreet asked again.
"We don't currently accept cryptocurrencies, but on March 10, we're going to dive into all of these things, payments, advertising, our focus categories."
Jaime Iannone commented that they have been looking for a way to add payment options with cryptocurrencies for some time, but that on March 10 they could officially announce said event..
eBay targeting cryptocurrency payment method
The CEO discussed eBay's stance on emerging blockchain technology and cryptocurrencies. He noted that, without making any official announcement about it, non-fungible token (NFT) trading on his platform has grown considerably. In fact, last year the company changed its policies to make the e-commerce platform a place to buy and sell anything, be it a physical or digital product.
"Last year we changed our policies so they could trade NFTs on the platform and essentially eBay is a place where people have something to sell and people have something to show up."
"So even without announcing anything or doing anything, people started trading NFTs on one platform."
“eBay will be the place where people exchange goods, whether physical or digital. So over time we want this to be the market for sustainability.”
The rise in popularity and demand for cryptocurrencies has seen various online platforms add cryptocurrency payment options. eBay, with its focus on capturing Millennial and Gen Z customers, aims to do the same..
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