eBay adds BNPL capability with Afterpay partnership

eBay adds BNPL capability with Afterpay partnership

From today shoppers can take advantage of Afterpay's buy-now pay-later (BNPL) platform on online auction site eBay.

The partnership between the two tech companies is a first for eBay and will allow its 40,000 Australian SME partners access to Afterpay.

The agreement is a milestone for Afterpay too, representing the Melbourne-based company's largest online arrangement to date and giving it access to eBay's 11-million unique monthly visitors.

"Especially today, Aussies are relying on eBay to get what they need, in one place at great value," says eBay Australia managing director Tim MacKinnon.

"Australian businesses need all the support they can get right now and offering Afterpay could be what makes or breaks a sale."

Importantly, eBay will not be passing on the costs of using Afterpay onto its many sellers; instead the auction site will cover the transaction cost itself.

As Australians self-isolate they are turning in droves to online shopping in order to access both essential and non-essential goods and services.

Those working from home similarly have been looking online to get the tools they need to see out the coming months.

Both Afterpay and eBay say these trends have been reflected in their own data, with technology, office supplies, entertainment and fitness equipment hot categories.

Sales of computer monitors on eBay have increased by 182 per cent in recent week, dumbbells by 845 per cent and paint by numbers increasing by an astounding 3,746 per cent.

"The partnership between eBay and Afterpay comes at such a crucial time, where Australians are wanting more control over their budget and to avoid high interest debt traps," says CEO and co-founder of Afterpay Anthony Eisen.

"Two in three Afterpay merchants believe it provides them access to new customers, so we are confident the tool will help small and medium businesses navigate these challenging headwinds."

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Five treatments to rejuvenate and brighten your skin without the hassle
Partner Content
Between working from home and Winter weather, our skin has seen better days. But with ...
Dr Lanzer Skin Clinics
Advertisement

Related Stories

Byron and Tweed to exit lockdown tonight

Byron and Tweed to exit lockdown tonight

The New South Wales north coast regions of Byron and Tweed will exi...

Mask rules change and jabs soon mandatory for truck drivers after QLD reports four new cases

Mask rules change and jabs soon mandatory for truck drivers after QLD reports four new cases

With Queensland today reporting four new locally acquired cases of ...

Rapid antigen tests have long been used overseas to detect COVID. Here’s what Australia can learn

Rapid antigen tests have long been used overseas to detect COVID. Here’s what Australia can learn

Australian Health Minister Greg Hunt wants COVID-19 rapid antigen t...

Patrick Terminals sounds alarm over October strikes, but union dismisses "exaggerated" claims

Patrick Terminals sounds alarm over October strikes, but union dismisses "exaggerated" claims

Patrick Terminals has issued a notice to customers today about a ra...