[April 23, 2018] |
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eBay and PayPal Finalize New Payments Agreement
eBay (NASDAQ:EBAY) and PayPal (News - Alert) (NASDAQ:PYPL) today confirmed the signing
of a previously-announced agreement to offer PayPal as a way to pay on
eBay until July 2023. This new agreement builds on the payments
partnership between the companies to make PayPal available as a payment
option on eBay's (News - Alert) new intermediated payments model.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180423006379/en/
"PayPal has been a great partner for eBay, and as part of our new
payments experience PayPal will continue to be a key form of payment for
our global customers," said Devin Wenig, president and CEO, eBay. "We
are pleased to continue to offer PayPal as a form of payment on eBay and
look forward to a continued, strong partnership with PayPal going
forward."
As previously announced, the new agreement between eBay and PayPal will
ensure that PayPal as a form of payment continues to be available to
buyers on the eBay marketplace. PayPal as a form of payment includes
payments through the PayPal payment button, as well as value-added
services such as fraud detection and buyer protections.
"We are proud to have extended our relationship with eBay and our
commitment to build on more than 15 years of collaboration and
innovation with a great partner," said Dan Schulman, president and CEO,
PayPal. "We are excited to continue to provide our millions of mutual
customers with innovative, trusted and seamless PayPal payment
experiences."
PayPal continues to provide a compreensive payments solution to eBay
under the existing Operating
Agreement through July 2020.
About eBay
eBay Inc. (NASDAQ:EBAY) is a global commerce leader including the
Marketplace, StubHub and Classifieds platforms. Collectively, we connect
millions of buyers and sellers around the world, empowering people and
creating opportunity through Connected Commerce. Founded in 1995 in San
Jose, Calif., eBay is one of the world's largest and most vibrant
marketplaces for discovering great value and unique selection. In 2017,
eBay enabled $88 billion of gross merchandise volume. For more
information about the company and its global portfolio of online brands,
visit www.ebayinc.com.
About PayPal
Fueled by a fundamental belief that having access to financial services
creates opportunity, PayPal Holdings, Inc. (NASDAQ:PYPL) is committed to
democratizing financial services and empowering people and businesses to
join and thrive in the global economy. Our open digital payments
platform gives PayPal's 227 million active account holders the
confidence to connect and transact in new and powerful ways, whether
they are online, on a mobile device, in an app, or in person. Through a
combination of technological innovation and strategic partnerships,
PayPal creates better ways to manage and move money, and offers choice
and flexibility when sending payments, paying or getting paid. Available
in more than 200 markets around the world, the PayPal platform,
including Braintree, Venmo and Xoom, enables consumers and merchants to
receive money in more than 100 currencies, withdraw funds in 56
currencies and hold balances in their PayPal accounts in 25 currencies.
For more information on PayPal, visit https://www.paypal.com/about
or follow @PayPalNews
on Twitter (News - Alert).
View source version on businesswire.com: https://www.businesswire.com/news/home/20180423006379/en/
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