Ebay to Step Down Using PayPal as Main Payment Gateway

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eBay announced that they will step down using famous PayPal as their main payment gateway by 2020 and they will start adopting an Amsterdam based payment processing company named Adyen by 2020 to process their checkouts.

Yes, it happened and PayPal got hit by the news and got down about 8%. But they will keep innovating their products. In addition, let us tell you what's missing with the whole news.

Adyen is something big than everybody thinks because they do accept multiple payment methods within the platform. Starting from credit card payments to Ali Pay to Amazon they do accept payments. It's totally fine with that and it's good business for Adyen.

Let's focus on eBay, why eBay making this move? What's could be the reason behind them to do so to move on to a new payment gateway? eBay does have a bigger plan and we have sensed it from a long time ago. eBay is going after the giants in the e-commerce industry and what might hold them was the payment gateway. So with the acceptance of almost all the payment methods in the world with Adyen, eBay will be able to unleash its full potential. We believe that will be for some good numbers for sure. 

What will happen to PayPal? They will acquire Adyen soon or they will upgrade their payment gateway very soon. Remember that e-commerce is booming like never before. But we don't know where will it get end. 

Source - Bloomberg