eBay’s Move Toward New Payment Processor

Are you interested to know what makes the best payment processor for small businesses? Continue reading… eBay Inc. climbed to a record high after giving an enthusiastic revenue estimate and revealing plans to change its payments line of business from long-time partner PayPal Holdings Inc. to Adyen BV, a worldwide payments firm located in the Netherlands. Shares of PayPal tumbled.

PayPal is presently eBay’s payment processor, meaning retailers selling on the platform need to have PayPal accounts to receive money, and it will stay a checkout option for eBay consumers at least until July 2023. But Adyen will slowly take over processing eBay payments, starting in North America this year, and will operate a greater part of transactions in 2021.

Adyen’s name may not be well-known in the U.S., but the firm does include Uber, Netflix, and Spotify among the corporations that use its technology for processing client payments. Unlike PayPal, which in addition to offering payment services has a button on eBay websites and elsewhere so shoppers can use it to pay for purchases, Adyen focuses entirely on the services that companies use on the back end of their systems for payment processing.

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