The two companies demerged in 2014 but PayPal remained the primary payment partner and kissing cousin to the retail marketplace.
For sellers, most "can expect their costs of payments processing to be reduced after they transition to eBay's intermediated payments model, and benefit from a simplified pricing structure and more predictable access to their funds", according to a company statement.
For buyers using eBay's marketplace platform, the site said its use of Adyen as its main payment processing partner would give them more choice and also provide a "more streamlined experience for consumers".
eBay has announced that the Dutch company will become its primary payment processor in the aim of improving its customer service and payments experience on its marketplace. The company will now be working with Adyen to process sales.
Ikea founder Ingvar Kamprad dies at age of 91
The name Ikea is derived from Ingvar Kamprad , Elmtaryd (the farm where he grew up), and Agunnaryd (his hometown in Småland). The Swedish founder of the Ikea furniture chain, Ingvar Kamprad , has died at the age of 91 , the company has announced .
The worldwide e-commerce marketplace EBay stops working with PayPal, as its back-end payments service in 2020.
eBay has said PayPal will no longer be its preferred payments processor, according to BBC News.
Shares of the San Jose, California-based e-commerce company climbed almost 9 percent to a record high in after-hours trading on Wednesday.
So how does this affect eBay customers whose prefer to use PayPal? In 2002, EBay paid 1.5 billion United States dollars to buy PayPal, an online payments company whose founders include Silicon Valley heavyweights Elon Musk and Peter Thiel.
The announcement surprised some investors, who expected the companies to announce an extension to their operating agreement. For years PayPal became a staple of the eBay payment system and in 2015 eBay made a decision to split them up. PayPal has played an integral role in processing payments on eBay for 15 years and offers credit products that help eBay shoppers buy more goods.
Bruno Mars ended hip hop Grammy dreams
Dave Chappelle , who was part of Lamar's opening performance, won best comedy album during the televised show. Lamar's 2012 debut album, "Good Kid, M.A.A.D". - Best urban contemporary album: "Starboy", The Weeknd.
So this breakup has got to sting a little, even if PayPal has long since moved on to sowing its wild oats across the rest of the e-commerce industry.
PayPal said total payment volume rose in the fourth quarter as active customer accounts hit 227 million.
Shares of PayPal Holdings, Inc.(NASDAQ:PYPL) have seen a movement of -0.63% in the most recent session. (HPQ) worth $2.61 billion at the end of the most recent reporting period.The investor is now holding 109,544,763 shares thanks to an increase of 944,980 new shares in their portfolio.
At least 13 Wall Street analysts raised their price targets on eBay's shares.
IOS 11.3 Beta Includes References To 2018 iPad Pro With Face ID
Just to give you better information about this latest iOS update, we have compiled a list of the best features of the iOS 11 .3. Users with an iPad or iPhone released in the past 3 years will be able to make with all the download'n right this minute.