eBay Inc. (NASDAQ:EBAY) stock moved higher on Wednesday after the company announced a global payment partnership aimed at enhancing user experience across its massive online marketplace.

The e-commerce giant revealed a collaboration with Checkout.com, a prominent international payment technology company. The partnership is intended to strengthen eBay’s digital payments infrastructure across its global network.

With billions of live listings and customers in nearly 200 countries, eBay said it continues to refine the core technology that underpins its platform.

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According to Avritti Khandurie Mittal, the company’s Vice President and General Manager of Global Payments and Financial Services, today’s shoppers prioritize security, speed, and ease of use—making efficient payment processing a top priority.

“The addition of Checkout.com to our partnership ecosystem highlights our continued commitment toward accelerating customer and business growth through uniquely eBay payments and financial services,” said Mittal, highlighting how the new alliance aligns with eBay’s vision to drive growth through innovation in financial services tailored for its unique ecosystem.

According to Benzinga Pro, EBAY stock has gained over 33% in the last one year. Investors can gain exposure to the stock via ProShares Online Retail ETF (NYSE:ONLN).

On April 8, JP Morgan analyst Doug Anmuth maintained a Neutral rating on eBay, lowering the price forecast from $60 to $54.

Recently, eBay Ventures, eBay’s venture capital arm, has awarded US business Refiberd $300,000 investment crowning them eBay’s Circular Fashion Innovator of the Year.

Price Action: EBAY shares are trading higher by 2.42% to $67.05 at last check Wednesday.

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