EBay makes Adyen its main payments processing partner

SEC FORM 4 - SEC.gov

Not only will they get more payment options as they checkout, but eBay says it's working on an "integrated checkout" process so they get a "streamlined experience".

For the March quarter, PayPal said it expects profit of 53 cents a share, a penny below consensus estimates of 54 cents.

According to eBay, those who sell on the platform will have lower costs as a result of the transition, as well as getting more predictable access to the money they earn.

After more than 15 years of partnership, the eBay replaces PayPal for its payment processing, starting to use its Dutch rival Adyen.

GLOBAL JUMBLE SALE site eBay has announced that its former bae, PayPal is being ditched for a new payment partner.

Shares in the digital payment processor slipped in late trading on Wednesday.

PayPal is used by other merchants on the internet so while they're losing a significant partner, they aren't dead. eBay sales accounted for 13% of the payments PayPal handled in the fourth quarter which is an actual decline from previous years.




Although eBay's share of PayPal's revenue has been shrinking over the last few quarters, Thursday's announcement will nevertheless be a major shock for the online payments company. Shorter moving average timeframes are more sensitive to price fluctuations and can pick up on trend changes more quickly than longer-term moving averages.

But Bill Ready, the payment processing company's COO, said investors need time to digest this news. While that won't happen in the next year, 2023 might see eBay dropping PayPal from its marketplace altoghether in favor of the fully integrated payments solution.

Several other institutional investors have also bought shares of the company. At present time the stock is moving 34.74% away to its 200-day moving average. A month ago, analyst EPS consensus estimated earnings of US$0.52 per share.

Adyen has certainly come a long way in recent years as a very viable alternative for payment processing.

PayPal might be able to fill the hole created by eBay thanks to its strong growth rate, although that is not certain at this point, BTIG analyst Mark Palmer said.

"After careful consideration, we believe that we can offer a more seamless experience while giving buyers and sellers more choice for payment and payout options", President and CEO Devin Wenig said during eBay's quarterly earnings call.

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