Cartoon of the Week: eBay and PayPal are getting a messy divorce
eBay, one of the world’s biggest online marketplaces, is cutting ties with PayPal and no longer using it as its main partner for processing payments.
The companies are ending their 15-year partnership and eBay has already found an alternative. The e-commerce company has chosen Dutch company Adyen as its new primary payment system partner.
The shift will start in North America and won’t be finalised until mid-2020. PayPal spokeswoman Amanda Miller said the company will ‘continue to provide a comprehensive payments solution to eBay through July 2020’.
The change will bring benefits for both sellers and buyers. Buyers will have more payment options and sellers will have lower payment processing costs.
It seems like everybody is happy, except for eBay, which could see its payments volume blowing up.