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eBay to accept Crypto Payments, Already exploring NFTs

WikiBit 2022-02-28 13:52

Abstract:The company has already dived into the digital currency world with its announcement last week, where it said that it is looking at a “number of ways” to enter the NFT space.

  In a world where no major e-commerce platform has taken the step to accept cryptocurrencies, it would be the topic of interest among the crypto community if one does so.

  As per the report by Reuters, America-based e-commerce corporation eBay Inc., which aspires to be the global market for Gen-Z and millennials, is looking at the possibility of accepting crypto as a payment method.

  eBay might officially announce this March

  During an interview with CNBC, the companys CEO, Jamie Iannone, said that e-commerce giant eBay could make an official announcement on March 10 during its investor day.

  “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,” he added.

  eBay has already opened up major payment methods like Google Pay and Apple Pay. It has also partnered with the Australia-based payment service that appeals to Gen-Z and is a buy now pay later platform, Afterpay.

  As a result, the company is still considering what other types of payments it should accept on the platform. Notably, the country does not accept any cryptocurrency as of now on its platform.

  Iannone believes that Gen-Z is a top focus for his platform. He discusses the various initiatives launched by eBay, for example, to attract this combination of today‘s and tomorrow’s consumers. It is concentrating on deals involving sneakers, which is one of its fastest-growing categories.

  The company has already dived into the digital currency world with its announcement last week, where it said that it is looking at a “number of ways” to enter the NFT space.

  Some of the major companies that accept cryptocurrencies are Elon Musks Tesla Inc, which announced the acceptance of Dogecoin for its merch. Payment giant PayPal also allows its users to buy, sell, and hold crypto using its online wallets.

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