eBay Breaks Up with PayPal – What Are the Consequences for Users?
eBay stated they signed an agreement with Dutch payment company, Adyen, to become its primary payments processing option. What about PayPal?
Read on Nexter.org the details.
Bye-bye, PayPal!
Earlier eBay made an agreement with Adyen and explained the details of the deal in the statement on their official website.
So what are the peculiarities of the payment option change?
PayPal has been the main eBay payment service for 15 years. The companies split in 2015, but so far they are still bound by a cooperation agreement, which expires only in 2020.
EBay recorded a $2.6 billion loss for the quarter because of the recent changes in U.S. tax laws. They also announced a $6 billion share buyback program.
How it influences the clients?
As stated in the eBay blog post, users of the website will be able to pay through PayPal at least until July 2023.
The shift to Adyen transition platform will be gradual: this year it will begin in North America, where most eBay transactions are expected to be transferred to Adyen as early as 2021.
Changing of the payment processing system will reduce costs for sellers and expand the capabilities of the customers.
Adyen accepts payments in 150 currencies, its services are used by many high-tech companies, including Uber.
Source: licdn.com
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