Broke Up: eBay Will Replace PayPal with Dutch Startup

Robyn Valdez
February 2, 2018

Year to date (YTD) refers to the period beginning the first day of the current calendar or fiscal year up to the current date.

However PayPal will still be a payments option at the checkout for eBay buyers. Finally, Wealthfront Inc. boosted its position in shares of Paypal by 19.2% in the second quarter.

eBay has said the decision will result in lower payment processing costs for vendors as well as greater options for buyers as Adyen accepts payment in over 150 currencies.

EBay said it will start the transition in payments processing later this year, with the majority of its marketplace customers using the new partner by 2021.

Things got worse when eBay (EBAY) announced that it would begin using a Dutch firm called Adyen as its primary payments provider.

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The strategy has largely been effective, notching a 32% YOY increase in payments processed, reaching US$131 billion in the fourth quarter.

The switch to make Adyen the primary checkout option will take place in 2020, with PayPal dropping down the rankings to become a supplementary service. Shorter moving average timeframes are more sensitive to price fluctuations and can pick up on trend changes more quickly than longer-term moving averages.

eBay shares opened 13.50% higher at $46.06.

Several other institutional investors have also bought shares of the company.

EBay is adapting to the likes of online crafts retailer Etsy Inc's model by taking control of the payment process on its marketplaces from PayPal, Forte added. They will have the option of paying through Adyen and if they decide to pay through PayPal, they will have to exit eBay and then do it.

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PayPal has been steadily widening its customer base since it was spun out of eBay in 2015, having been predominantly focused on processing payments for eBay.

Dan Schulman, PayPal CEO, affirms the company's changing relationship with eBay is in line with company strategy and is "manageable". Perhaps it was just time for both companies to move on and find greener pastures away from each other. When you pay with PayPal, your purchase is insured and PayPal will help you if you don't receive it or if the goods were counterfeit.

Giant eBay brought earnings of $2.61 in revenue in its latest quarter.

"Building out eBay's payments capabilities is the next step in the company's strategy, with the goal of driving significant benefits and efficiencies for its buyers and sellers globally".

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Other reports by Info About Network

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