August 1, 2024
SAN JOSE, CA – eBay Inc. recently launched Business Cash Advance, a new eBay Seller Capital revenue-based financing product provided by Liberis, a global embedded finance platform. Aimed at supporting eBay sellers at every business stage, Business Cash Advance offers eligible U.S. eBay sellers up to $1 million in working capital.
The product delivers:
- a personalized application experience;
- extensive financing options with pre-approved funding offers ranging from $500 up to $1M;
- fast access to capital;
- flexible payment schedules that scale with the seller’s sales cycle; and
- transparent reporting.
“As a pioneer in ecommerce and the home to small businesses in more than 190 markets, eBay understands the challenges small businesses encounter in securing fast, flexible and transparent financing,” said Avritti Khandurie Mittal, vice president and general manager of Global Payments and Financial Services at eBay via press release. “eBay Seller Capital is aimed at fueling our sellers’ growth by providing them with tailored financing solutions that meet the unique needs of their businesses.
“The addition of Business Cash Advance to our suite of offerings in partnership with Liberis enables us to expand capital availability for our sellers on flexible terms—when they need it the most.”
“We understand the unique challenges eBay sellers face when securing financing through traditional means,” adds Rob Straathof, CEO of Liberis. “Through eBay Seller Capital, Liberis will empower sellers with access to fast and responsible financing. We’re thrilled to partner with eBay to support eBay sellers to operate and grow their businesses.”
European Commission Strikes E-Commerce Agreement
GENEVA – The European Commission recently published an E-commerce Agreement negotiated in the World Trade Organization (WTO). The publication follows five years of negotiations by over 90 WTO Members. The EU played an active role in the negotiation of these first global rules on digital trade.
Once integrated into the WTO legal framework, the E-commerce Agreement will be the basis for global rules on digital trade among a broad range of WTO Members. The agreement is designed to benefit consumers and businesses, and support digital transformation among participating WTO Members by:
- facilitating cross-border electronic transactions;
- reducing barriers to digital trade; and
- promoting innovation in e-commerce.
The negotiated E-Commerce Agreement includes a set of ground rules on digital trade:
- Initiatives to promote seamless digital tradeboth within and across borders, including on electronic signatures and electronic invoices;
- Provisions to improve trustin the digital trade environment for both consumers and businesses, notably by strengthening consumer protection online;
- Provisions to make the international digital trade environment more reliableand affordable, including collaboration on cybersecurity risks;
- A prohibition of customs duties on electronic transmissions, which is of great commercial importance and is a key priority for industry worldwide; and
- Initiatives to facilitate participation of consumers and companies from developing countriesin digital trade.
The EU and other participants of the Joint Statement Initiative will take necessary steps toward integrating the E-commerce Agreement into the WTO rulebook, which will require consensus by all WTO Members. The EU stands ready, as part of its digital development activities, to support developing countries in assessing their needs for assistance and implementation of the Agreement.
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