eBay Refuses from Partnership with PayPal

Internet auction eBay interrupts cooperation with long-time PayPal payment processing partner. This decision was dictated by the transition to the Adyen platform, which supports transactions of cryptocurrency. It was announced by eBay representatives after publication of quarterly reports.

Directly on the site, payments can be made using Adyen. Customers who prefer PayPal will be able to click on the link to the operator’s website.

Against the background of this situation, the shares of PayPal fell by 10%. According to the service description, Adyen will provide cost reduction and a simpler pricing structure for sellers. Among the clients of the service there are such known companies as Netflix, Uber and Facebook.

In 2015, Adyen entered into an agreement with BitPay, which helps the system handle payments in cryptocurrencies. Perhaps the contract with Adyen is a hint that eBay is going to start accepting payments in the cryptocurrency.

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