kave
BANNED
- Nov 14, 2017
- 47
- 30
i heard about his shocking news
eBay and PayPal to split
Meanwhile, one of the bright sparks in US markets overnight was eBay, which saw its share price surge 13.8 per cent.
This was after the e-commerce giant announced strong quarterly results, and its upcoming split from long-term partner PayPal.
eBay will instead use little-known Dutch payments company Adyen as its main payments partner.
Adyen is an online payments startup which provides back end payment services like point-of-sales (POS) systems and credit card processing.
It also boasts a huge clientele including the likes of Facebook, Spotify, Netflix, Uber, Groupon and LinkedIn.
This move is seen by analysts as a way for eBay to lower costs and take more control of payments on its website.
Currently, eBay's users also need to create a separate PayPal account to make payments.
This new Adyen arrangement will allow customers to pay for their purchases within eBay's own website — rather than forcing them to finalise payments through PayPal's website.
In a statement, PayPay confirmed it will still be an eBay payment method until July 2023.
PayPal shares plunged by 8.1 per cent on that announcement — given eBay accounts for roughly 13 percent of the total payments which go through its network.
Back in 2015, PayPal was spun out of eBay and has since been working to transform itself into a company which processes payments for other large companies and their customers.
what are your thoughts guys
eBay and PayPal to split
Meanwhile, one of the bright sparks in US markets overnight was eBay, which saw its share price surge 13.8 per cent.
This was after the e-commerce giant announced strong quarterly results, and its upcoming split from long-term partner PayPal.
eBay will instead use little-known Dutch payments company Adyen as its main payments partner.
Adyen is an online payments startup which provides back end payment services like point-of-sales (POS) systems and credit card processing.
It also boasts a huge clientele including the likes of Facebook, Spotify, Netflix, Uber, Groupon and LinkedIn.
This move is seen by analysts as a way for eBay to lower costs and take more control of payments on its website.
Currently, eBay's users also need to create a separate PayPal account to make payments.
This new Adyen arrangement will allow customers to pay for their purchases within eBay's own website — rather than forcing them to finalise payments through PayPal's website.
In a statement, PayPay confirmed it will still be an eBay payment method until July 2023.
PayPal shares plunged by 8.1 per cent on that announcement — given eBay accounts for roughly 13 percent of the total payments which go through its network.
Back in 2015, PayPal was spun out of eBay and has since been working to transform itself into a company which processes payments for other large companies and their customers.
what are your thoughts guys
