Contrary to the latest stories about eBay, the e-commerce giant has reportedly denied the talks that it will be accepting cryptocurrencies as payment.
According to a report today, the company noted that such development is a false claim and it reiterated that cryptos are not a payment method on its platform. This is accurate as “virtual and cryptocurrency” is on the long list of “Not allowed” payment options in the company’s accepted payments policy.
The e-commerce platform urged users to always refer to eBay’s payment policy in order to have a grasp of what is accepted on the platform and what is not.
According to the site policy, the “allowed” payment methods on eBay include credit and debit card processed through the seller’s Internet merchant account, Paypal and Paypal credit, and pay on delivery.
A further look into the policy reveals that the platform also has a list of restricted payment methods which include bank wire transfers, checks, money orders, and third-party online payment services such as Alipay, Cartapay, Fiserv, XOOM, etc. Also, the policy notes that payments that are processed outside the platform website are not allowed, except in “certain listing categories.”
The rumor about eBay’s plans to support crypto payments started on Twitter after a crypto enthusiast known as @ImNotTheWolf shared photos of eBay’s ads at the ongoing Consensus event.
— wolf (@ImNotTheWolf) May 12, 2019
With the massive gains already flowing in the crypto market on Sunday, the news seems to have added more excitement to the community. However, it was soon realized that the story wasn’t real.
eBay noted that the ads do not mean that the company is planning on accepting cryptocurrencies but that there are a lot “virtual currency related items for sale on the marketplace, such as mining equipment.”
Although eBay may not have any interest in integrating crypto payments on its platform at this point, cryptocurrencies are slowing penetrating the e-commerce industry. Yesterday, Coinfomania reported that major retailers including Amazon-owned whole food markets are now accepting bitcoin and three other cryptocurrencies as payment through a third party app.