Millions of buyers and sellers around the world using the eBay platform will have even more seamless e-commerce experiences, as the marketplace partners with Checkout.com.
eBay formed a global payment acquiring partnership with Checkout.com – a payment solution provider specialising in online payment processing tools for businesses.
The fintech company supports local acquiring capabilities in over 50 countries across Europe, North America, the Middle East, and Asia-Pacific, facilitating transactions in more than 150 processing currencies. Dealing with a large geographical presence, Checkout.com incorporates advanced fraud detection and compliance tools to ensure secure transactions and adherence to regulatory standards.
eBay, which hosts more than 2.3 billion live listings and serves millions of customers across 190 markets, is committed to accelerating customer and business growth while delivering fast, reliable, and frictionless payment experiences. With the addition of Checkout.com to its partnership ecosystem, one of the world’s largest marketplaces will boost its efficiency, maximising payment acceptance in various global markets and helping both reach and retain diverse customer categories.
By integrating Checkout.com’s technology, eBay expects to deliver more frictionless, reliable payment processes across its global marketplace. This means that buyers will likely experience quicker transaction approvals and smoother checkouts, which is critical in driving customer satisfaction. Besides, having a streamlined payment system backed by a robust partner inevitably translates into improved coverage and adaptability to local market requirements.
Finally, Checkout.com’s strength in data analytics, acceptance intelligence, and payment technology might enhance eBay’s ability to analyse transaction trends and optimise the overall payment experience while scaling operations.
Checkout.com actively integrates artificial intelligence (AI) and machine learning (ML) across its payment solutions to improve payment acceptance rates and increase merchant revenue, protect merchants and platforms from fraud while also reducing false positive rates, and speed up the customer verification process. Since its launch in 2023, Checkout.com’s Intelligent Acceptance solution has led to an average acceptance rate growth of 3.8% for global brands, unlocking over $10 billion in additional revenue.
Earlier, eBay explored numerous use cases for AI and concluded that smart tools ultimately make its customers happier. AI tools have decreased the time to create listings for authenticated products, allowed sellers to generate detailed product descriptions from images, simplifying the listing process, reduced average domestic delivery estimates while also providing customers with more accurate information, and decreased the number of support inquiries.
