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eBay Acquires BillSAFE; Plans to Integrate with PayPal

eBay announced on Thursday it is going ahead with its decision to acquire BillSAFE, the Germany based provider of purchase-on-invoice technology.

With this new acquisition, eBay's existing payment mechanism based on PayPal is likely to be even further enhanced.

eBay purchased a minority stake in BillSAFE in October 2010. However, with this new acquisition, the company has become fully integrated with the online auction giant. The financial aspect and other terms of the deal have not been disclosed.

As of now, BillSAFE caters to over 15 million accounts throughout Germany. eBay believes the combined power of both PayPal and BillSAFE will offer merchants and consumers a far more enhanced payment platform.

It is important to note here that purchase-on-invoice has emerged as a most popular way to make payments in a number of countries including Austria, the Netherlands, Germany and Switzerland.

"Together with BillSAFE, we can offer even more choices to our customers - whether they prefer to pay with their bank accounts, their credit cards or now through purchase on invoice," said Arnulf Keese, managing director of PayPal Germany in a statement, as reported by MarketWatch.