Why eBay abandoned PayPal for a smaller European competitor

EBay said which the integration of Adyen would likely also provide customers with “greater choice” when checking out.

“We believe which we can offer a more seamless experience while giving buyers in addition to also sellers more choice for payment in addition to also payout options,” eBay Chief Executive Devin Wenig said on a conference call with analysts, according to the Wall Street Journal.

The firm added which which would likely be able to expand payment options into more regions around the planet. Adyen lets consumers pay in 150 currencies.

which will also let buyers manage checkout within eBay, rather than being directed to PayPal before completing a purchase.

In an emailed statement to CNBC, Adyen CEO in addition to also co-founder Pieter van der Does said: “We are thrilled which eBay, one of the most successful e-commerce companies of all time, has chosen Adyen as its completely new, global payments processing partner. Adyen can be uniquely positioned to meet the needs of high volume global marketplaces like eBay. We look forward to powering transactions on eBay, starting in North America, in addition to also supporting their continued global growth.”

EBay will continue to let customers use PayPal as an option for checking out until July 2023, although most of eBay’s payments will be processed by Adyen by 2021.

The firm said in its statement which PayPal would likely “remain an important partner to eBay.”

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