eBay expands choice of payment methods at checkout with launch of Venmo. The move to introduce new, popular and modern payment options is in line with the changing preferences of today’s digital natives.
This convenient, easy and secure payment method offers US eBay buyers even more choice and flexibility during checkout. Known for its popularity among Generation Z and Millennials, shoppers can easily pay for their purchases using their Venmo balance or their bank account, debit card, or credit card linked to their Venmo account.
By integrating Venmo, a platform already used by more than 90 million engaged users, eBay is tapping into the modern, mobile-first consumer. Notably, 28% of Venmo users are Gen Zers and Millennials ages 18 to 29, a demographic known for their tech savvy. Given that over 60% of eBay volume occurs via mobile devices, Venmo’s mobile platform is ideal for digitally savvy shoppers looking for a simple and quick checkout process.
The ability to pay with Venmo will be available to US buyers on eBay.com and the eBay app next week.
Buyers love Venmo on eBay – it’s fast, secure, and social
Once buyers link their Venmo account to their eBay account, they can checkout without having to manually enter their payment information in subsequent transactions. After completing a purchase on Venmo, buyers can share the payment in the Venmo feed to help spread the word about the ability to pay with Venmo on eBay. Buyers can also purchase with peace of mind, knowing that eligible payments are covered by Buyer Protection should any issues arise during the purchase.
For sellers, new customers are just around the corner
For sellers, providing buyers with trusted, relevant, and convenient payment options helps reduce abandoned carts and boost sales. Sellers don’t need to do anything on their account to offer Venmo as a payment method to their buyers.
eBay’s payment strategy
eBay’s payments strategy aims to provide seamless, relevant and secure trading experiences to the millions of buyers and sellers who transact on eBay every day across 190 markets. By giving our customers choice, flexibility and control over how they pay and get paid in the marketplace, they can focus on what matters most to them – pursuing their passions and growing their business.
The ability to pay with Venmo at checkout continues eBay’s push to tap into a younger demographic, with Venmo seeing strong adoption among Gen Z and Millennials. In addition to Venmo, buyers on eBay have the option to pay using a variety of popular and relevant payment methods based on their needs and preferences, including major credit and debit cards, digital wallets and BNPL offerings in select markets.