25.4 C
New York

Ebay Could Launch Digital Wallet After Exploring Crypto Options


Ebay could launch digital wallet features after it started exploring crypto payment options and enabling NFT sales last year as we reproted in our cryptocurrency news.

The CEO of eBay, Jamie Iannone started considering the idea of adding crypto payment options for the site for a while but then stopped short of announcing any moves during its 2022 investor’s day. Iannone reiterated that the company is exploring new forms of payments to add while the platform did present a slide of a digital wallet due in the second quarter.

Ebay could launch digital wallet features which are a software program that holds payment information and some like Apple Pay and Google Pay are meant for credit and debit cards so rather than pulling out a physical wallet, users can pay by tapping a phone at the point of sale. Digital wallets can also store private keys that will enable people to pay in BTC or other cryptos and recently, other crypto wallets expanded their functionality to allow people to see and trade their NFTs like unique tokens which act as a digital deed of ownership to other assets.

jamie iannone
Jamie Iannone, CEO of eBay/ Source: eBay Inc

Since last year, users are able to buy and sell NFTs on Ebay which has been a long-time destination for connoisseurs of physical collectibles. Iannone made it clear that the intent is to go after younger customers in other ways and moved beyond only selling collectibles. He also noted that the marketplace’s addition of Google Pay and apple PAy alongside installment plan platforms means that they are ready to be able to open new forms of payments.

As recently reported, The major e-commerce marketplace eBay will integrate crypto payments soon according to Jamie Iannone, the CEO of the company. The internet marketplace is among the oldest e-commerce platforms and is looking to become the go-to platform for users. Iannone revealed that the e-commerce giant will transition to new payment modes as they are already managing $85 billion of volume on the platform directly. Talking about eBay’s stance on emerging technology like crypto and blockchain, Iannone pointed out the popularity of NFTs trading on the platform making any official announcements about it. eBay will add crypto payments as Iannone said because the company already changed its policies to make the platform a place to buy and sell anything physical or digital commodity.

Related articles


Recent articles