According to eBay, “As a leading global commerce company, eBay believes that payments intermediation is strategically important to improve the buyer and seller experience on its platform and will enable the company to further innovate on behalf of its customers. In a rapidly changing and competitive ecommerce landscape, shoppers expect to be able to both shop and checkout on the site on which they transact.”
However this doesn’t mean that PayPal will be going away for good. eBay notes that using PayPal to make payments will still be an option at checkout, but moving forwards Adyen will be the focus and main processor, so either it looks like eBay users might have to start getting used to a new provider.
eBay had acquired PayPal back in 2002 where like we said, for the longest time ever was used as the platform’s main payments processor. However in 2014, eBay announced that they would be spinning PayPal off into a separate publicly traded company.