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Wednesday 11 December 2019

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Payments Awards 2019

eBay unveils visual search feature

Written by Peter Walker
25/04/19

eBay has unveiled several new initiatives for buyers and sellers, including a search feature that couples advancements in computer vision with relevant filtering, letting shoppers discover products using pictures and words.

In its first quarter results statement, the global commerce company also announced the addition of Google Pay as a payment option, alongside the completed integration of PayPal on its new platform, which has been live for a couple weeks with a small set of customers and will continue scaling over the coming months.

Following roll-out in the US, eBay also revealed that Germany will be its second market for managed payments, subject to regulatory approval. This model eliminates PayPal as the middleman for payment disputes over claims and returns.

The company delivered revenue for the quarter ended 31 March of $2.6 billion, up two per cent on, primarily driven by gross merchandise volume of $22.6 billion, although that was down by four per cent during the quarter.

Devin Wenig, president and chief executive of eBay, explained: "Our initiatives to create a next generation payment and advertising experience are on track, we saw healthy buyer growth and disciplined cost control, and we continue to simplify the buying process while remaining focused on sellers’ success."

Hugh Fletcher, global head of consultancy and innovation at Wunderman Thompson Commerce, commented that eBay’s introduction of grouped listings, a slicker payment system and personalised recommendations has allowed the marketplace to create a truly seamless customer journey.

“To continue to compete with Amazon, the marketplace must now look to lock-in the 180 million active buyers by continuing to offer what Amazon can’t do,” he stated. “By continuing to innovate, working out what they could do that Amazon can’t and creating a seamless and personalised experience for the customer, other online vendors may have a chance of success in an increasingly competitive market.”


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