Following the implementation of NFT, eBay CEO Jamie Iannone says cryptocurrency payments could be the next
U.S. global e-commerce giant eBay is considering integrating cryptocurrency payments. In a recent interview, CEO Jamie Iannone said the company may soon jump on the bandwagon. eBay's main goal is to attract Generation Z and millennial customers.
Attracting Millennials and Generation Z
eBay is one of the most established e-commerce companies. It was founded in 1995. In an exclusive interview with The Street, Iannone said that an official announcement of the highly anticipated cryptocurrency integration platform could be made on the upcoming March 10 Investor Day. According to the executive, the marketplace aims to become a destination for Generation Z and millennials.
According to Iannone, "We've just completed a shift to payment management, and we now manage $85 billion in transaction volume directly on our platform." This allows us to offer additional payment options."
Payment methods on eBay
So far, eBay has offered Google Pay and Apple Pay on its site. It also has a partnership with Australian fintech startup Afterpay, "a platform that appeals to Generation Z," according to Iannone, which means it's time to to consider new ways to pay. The founder also said he is eager to pursue new opportunities.
"As a result, we continue to evaluate the different payment methods we should accept on the site." "At this time, we do not accept bitcoin on the site."
"Without any official announcement, people started trading NFT on the platform," said Jamie Iannone, CEO of eBay.
There are online commerce behemoths such as Amazon and eBay that cryptocurrency advocates hope will one day accept cryptocurrency payments. For years, cryptocurrency enthusiasts have believed that digital assets and online auction platforms would be mutually beneficial. Bitcoin.com News reports that eBay is launching NFT sales on its auction platform on May 11, 2021. In an interview with The Street, Ebay CEO Jamie Iannone claimed that the NFT deal just happened.
"We changed our rules last year so that you could trade NFT on the platform, and fundamentally, you know, eBay is a place where people can sell things and other people can buy things," Iannone explained. "Without stating or doing anything, users start trading NFT on the site." It reminds me of many years ago when people were just starting to sell cars and we didn't even have a car business yet. So we saw the same thing," explained the eBay CEO.
eBay's past experiments with cryptocurrencies
In 2014, eBay was exploring the introduction of Bitcoin (BTC) as a payment method to their retail platform. Six years later, Iannone says the e-commerce giant is in no rush to explore new payment methods like Bitcoin, but it will continue to do so.
While eBay has yet to implement a cryptocurrency payment option, it made a significant bet on the booming NFT industry last May.