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eBay Breaks it Off with PayPal - What it means for sellersBy...

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    eBay Breaks it Off with PayPal - What it means for sellers


    E-commerce behemoth eBay is officially abandoning online payments system PayPal after 15 years, opting for a new service that’s expected to deliver benefits to sellers.

    eBay has announced that it will stop working with PayPal in 2020 and start transitioning to Adyen, an Amsterdam-based payments company, later this year.

    Adyen’s customers include tech industry giants Uber, Netflix, and Spotify.

    Adyen primarily provides back-end payments services, like credit card processing, and won’t have a visible presence at the eBay checkout, unlike the “pay with PayPal” button.

    eBay users will continue to have the option of using PayPal until 2023, but it will effectively be relegated to “second-class status”.

    PayPal has been eBay’s main payments provider since 2003. In the same year, eBay acquired PayPal in a deal valued at $1.5 billion.

    eBay and PayPal parted ways in 2015 and become separate public companies, but maintained close business ties.

    The announcement that eBay is officially breaking away from PayPal marks the end of one of the tech industry’s “most storied partnerships”.







    In case others didn’t know about PayPal’s future on eBay, it’s on the way out.
    Also PayPal will offer BNPL from June, talk about being behind the eight ball and trying to catch up.
 
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