eBay abandons PayPal for Dutch payment firm Adyen - Technology
eBay abandons PayPal for Dutch payment firm Adyen

eBay abandons PayPal for Dutch payment firm Adyen

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eBay will not use PayPal as the main form of payment processing that the company will serve buyers and sellers.

People who buy products from eBay will pay without leaving the website while retailers will have lower payment processing costs said the giant online in a blog post.

The company signed an agreement with Dutch company Adyen to process payments while buyers may use PayPal by 2023.

PayPal was disconnected from eBay in 2015. Giant payment transactions fell by 7% after the news.

eBay said it wants to finalize the deal as soon as possible. The e-commerce giant said the deal with PayPal will no longer go ahead.

As Dutch company Adyen has a number of high profile clients such as Uber, Netflix and Easyjet.

The firm expanded its activity rapidly. In 2013, it processed $ 14 billion in transactions, while in 2015 the figure rose to $ 50 billion.

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