EBay shows investors the digital wallet as it explores crypto and other payment options

The CEO of online marketplace eBay, Jamie Iannone, has long pondered the idea of ​​adding cryptocurrency payment options to the e-commerce site. But the company refrained from announcing any decision during its 2022 Investor Day on Thursday.

Iannone instead reiterated that the company was exploring “new forms of payment to add.” The e-commerce platform, however, presented a slide of its digital wallet, expected in the second quarter.

Digital wallets are software that contain payment information. Some, like Apple Pay and Google Pay, are primarily for credit and debit cards. Instead of pulling out a (physical) wallet, you can pay by tapping your phone at the point of sale.

But digital wallets can also store private keys that would allow people to pay in BTC or other cryptocurrencies. And recently, many leading crypto wallets have extended their functionality to make it easier for people to view and trade their NFTs, unique tokens that act as digital deeds of ownership for other assets.

What is eBay’s position? Well, as of last year, you can already buy and sell NFTs on eBay, long a go-to destination for connoisseurs of physical collectibles. And Iannone has made clear his intention to tackle young customers in other ways, going beyond grandparents selling Hummel figures in their basement to sneakerheads and similarly fashionable consumer groups. .

Iannone said The street in February, the addition of Google Pay and Apple Pay to the market, as well as installment payment platforms, means it is ready and able to “open up new payment methods“.

The wait, however, continues.


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Elaine R. Knight