eBay Is Ending Its Partnership With PayPal

eBay has confirmed it will not be renewing its contract with the online payments system PayPal. The online marketplace will stop using PayPal as its back-end services provider which means it will soon be more difficult to buy products on eBay with your PayPal account. Here's what you need to know.

When its current PayPal contract ends in 2020, eBay will be switching to a long-term deal with Amsterdam-based company Adyen. This means Adyen will begin processing all transactions on the site in place of PayPal.

So how does this affect eBay customers whose prefer to use PayPal? The good news is you'll still be able to do so on eBay. The bad news is that the process won't be quite as streamlined.

Here's the announcement from the horse's mouth:

After the existing eBay-PayPal agreement ends in 2020, PayPal will remain a payment option for shoppers on eBay, but it won't be prominently featured ahead of debit and credit card options as it is today. PayPal will cease to process card payments for eBay at that time.

eBay reckons the new Adyen partnership will give customers "more choice" for payment and payout options. Time will tell whether the move away from PayPal will be a benefit or nuisance.

[Via Gizmodo]


Comments

    Wtf is adyen never heard of it.
    Doubt I'll ever buy anything from ebay again.

      If its not broken why fix it ?
      Im mot sure I will be purchasing from Ebay in 2020.

    Good riddance

    Anyone who has tried to sell anything on eBay has been slugged with an 8% PayPal fee which means it becomes very economical for private sellers.

    I for one will be very happy to see the end of PayPal who have been charging exorbitant fees for a long time

      Why do you think any PayPal replacement won't have similar fees?

    I was pissed off when eBay forced PayPal as a required payment option (as opposed to just cash or direct deposit) because it meant prices/costs went up.
    But now that its been accepted by 99.99% of sellers for well over 5 years, I can't imagine not using it. So as long as people keep accepting it, I won't be signing up to any new payment services. If they stop accepting PayPal, I'll probably go to BangGood or other places.

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