eBay UK recently announced the development of a new financial program: Capital for eBay Business Sellers (CEBS). The aim of the new program is to offer support to small businesses by providing vital access to finance at a time when entrepreneurs face the post-pandemic cash flow crisis. The financial products of the program are aimed at the 300,000 small and medium-sized businesses that cater to the approximately 30 million monthly active users on the UK platform. The launch of CEBS takes place at the same time as a research also conducted by eBay which highlights that 31% of the UK’s 5.9 million small businesses are at risk of closure if they cannot find adequate funding. The same research reveals that 40% of small businesses have been denied a loan from a bank, while 31% have been refused a loan by the government. As many as 44%, on the other hand, declare that they have not received any form of access to financial support for Covid in the last 12 months. The first of the three platforms deployed within the CEBS program guarantees access to financing between 500 and 1 million pounds, which are then repaid directly from their sales. YouLend allows funds to be disbursed on the day the application is accepted, while millions of eBay users have been alerted to the new rules coming to the platform on May 31st. Rules that will see changes to its payment system, moving to the integration of an internal method based on Adyen’s global platform. In particular, customers will no longer have to leave the eBay platform to complete their purchases, but will be able to manage all of them integrated within with the possibility of choosing multiple payment methods that were not available before: among these, credit and debit cards. , Apple Pay, Google Pay and, of course, PayPal. Speaking of payments, eBay will soon formalize the arrival of specific programs, policies and tools that can allow users to make purchases and sales of NFTs, as well as the ability to accept various cryptocurrencies as a form of payment for transactions.
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