John Malloy started Confinity, then merged with Xcom, Elon Musk, creating PayPal.
Musk sold it to Ebay, and now makes electric cars, and launches rockets.(with electric car as payload tests)
It sounds like Ebay, setting itself up as an INTERMEDIARY, will take your money for an auction payment, and hold onto the funds until
you get your item. Then they will forward the payment to the seller once you are satisfied, or refund your payment if you claim any issues.
This would give Ebay free money for up to 15 days for every transaction while they are "mediating" a sale to completion.
Sort of like;
...Hello Seller, we have the money for the auction you may ship the item.
...Hello Buyer, the item has shipped.
.--Hello Ebay, I have recieved my Item. Yea!
...Hello Seller we are moving the funds to your account.
And then much happiness.
Not sure if that is what they are actually doing, but "intermediating" sounds a bit off.