eBay may be adding that after many years of considering this idea, it will finally choose cryptocurrency payments.
According to a recent post by The Street, e-commerce giant eBay may add support for cryptocurrency payments this March. In the post, company CEO Jamie Iannone told The Street that the e-commerce platform wants to be a marketplace for Gen Z and millennials. Iannone says the new payment option is aimed at attracting younger customers.
“On March 10 we’re going to dive deeper into all of these things, payments, ads and our focus categories.”
The company’s CEO told TheStreet that the company may make an announcement on March 10. “We are completing our transition to managing payments, where we manage $85 billion in volume directly on our platform. This gives us the ability to open new forms of payment. We turned on Google Pay and Apple Pay. And that’s why we continue to evaluate other forms of payment that we should receive on the platform. We do not currently accept cryptocurrency on the platform.”
A number of surveys show that millennials tend to be the most crypto-friendly demographic, a clue that eBay’s upcoming move may be in that direction.
The popular e-commerce platform has so far stayed away from fully embracing cryptocurrencies, although it started dealing with NFTs last May. Founded in September 1995, the company first got acquainted with the idea of accepting Bitcoin in 2013, when the world’s first cryptocurrency was still in its maturation stage.
There was some speculation that eBay was ready to accept cryptocurrencies in 2019, but the company denied these rumors. The online store has finally indicated that it is considering enabling crypto payments amid massive speculative interest in the nascent asset class.
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