A consortium, including private equity firm Permira, could buy eBay's enterprise unit for about $925 million. Reuters

After eBay, Amazon and Alibaba’s problems with counterfeit items on their sites, eBay announced Thursday a program to tackle the number fake products sold on its platform.

Later this year, eBay will launch eBay Authenticate, a new authentication program for high-end products sold on the site, such as expensive handbags.

The new program will benefit buyers and sellers, says Laura Chambers, Vice President of eBay Consumer Selling. The company hopes the program will “boost consumer confidence” when buying high-end products.

“We know that many shoppers may be hesitant to purchase high-end products online,” said Chambers. “This service is designed to help quell some of those concerns – and in turn – enhance the opportunity for our sellers to get top dollar for their items.”

How The Program Will Work
Sellers who list certain products, like high-end handbags, will be able to opt-in to the program for a fee when selling an item (or the seller could also use the service for a fee). There will be a notification on the listing that says the item will be reviewed by a professional authenticator before shipping to the buyer. If the product is sold, a professional authenticator will examine the item to make sure it’s not a fake. When it passes the inspection, it will be delivered to the buyer.

To get customers to trust eBay even more, the company will refund the buyer two times the cost of the original purchase price (depending on region and terms) if the item is found to be a fake after the inspection.

The new service will focus on fashion products, and could expand to other categories in the future. eBay will pilot some elements of the program in the coming months before it launches at the end of the year.