eBay takes a long time to decide – It’s been years, at least since 2017that the auction giant eBay dithering on the idea ofaccept Bitcoin (BTC) and cryptos as a means of payment. The site has also started accept NFT sales since May 2021. Its CEO is about to take the step of crypto paymentsfrom this month of March 2022.
eBay wants to beat Amazon in the race for crypto-payments
The adoption of Bitcoin and cryptocurrencies by the youngest (Generation Z and Millennials) is well advanced, and the platform eBay seems to have it figured out. The e-commerce and auction site is losing speed against the hegemony ofAmazon. Betting on the appetite of younger generations for crypto-assets could therefore represent its miracle cure.
In an interview given to TheStreet, Jamie Iannone, the CEO of eBay, explained that his company could very soon capitulate in the face of the growing success of cryptos. the landing of crypto-assets on eBay could happen very soon…. from Thursday March 10 2022!
“(…) we continue to evaluate the forms of payments we should take on the platform. We do not currently accept cryptocurrencies on the platform (…) [mais] on March 10, we’re going to dive deeper into all of these things, payments, advertising, our target categories. »
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Bitcoin and Generation Z to boost e-commerce?
To catch up on its e-commerce competitors and regain its former glory, eBay therefore places the younger generations as “priority target” :
” We have opened [les paiements par] Google Pay and Apple Pay. We have a partnership with Afterpay in Australia, which is a platform that appeals to Generation Z, and which is a buy-it-now platform before later payment on the marketplace (…)”.
As to non-fungible tokens (NFT), Jamie Iannone reveals that the beginning of their exchanges on eBay was done “naturally”, without the platform having formally announced it. These exchanges were carried by the users themselves, and eBay has adapted more than he anticipated.
“We actually changed our policies last year [en mai 2021] so that you can trade NFTs on the platform (…) even without announcing anything, or doing any promotion of the thing, people started trading NFTs on the platform (…) It reminded me of this happened when people just started selling cars when we didn’t even have dedicated vehicle services at that time (…)”
eBay CEO ends by explaining that his platform will be where people trade goods “whether physical or digital”. We just have to wait until March 10 to find out more. But eBay would do well to to hurry up in its crypto adoption, because its Japanese competitor, Rakuten has already launched its own NFT platform.
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