eBay Is Dumping PayPal For Dutch Rival Adyen (cnn.com)

schwit1 shares a report from CNN: EBay, one of the world's biggest online marketplaces, announced Wednesday that it's dropping PayPal as its main partner for processing payments in favor of Dutch company Adyen. In 2002, eBay paid $1.5 billion to buy PayPal, an online payments company whose founders include Silicon Valley heavyweights Elon Musk and Peter Thiel. It proved to be a very successful investment. When eBay spun off PayPal in 2015 -- something investors and analysts had urged it to do -- the payments company's market value was close to $50 billion. It's now above $100 billion. Based in Amsterdam, Adyen already works with other big tech companies including Uber and Netflix. It says it handles more than 200 different payment methods and over 150 currencies. The shift will start gradually in North America later this year and eBay expects most marketplace customers around the world to be using the new system in 2021.

Comments

errrr no

[Anonymous Coward]

I'd want to switch to some payment service I've never heard of and don't trust...... why?

Re:errrr no

[AHuxley]

AC the "why" is in the payments from gift cards, other payment systems.
Why accept CC when lots of people may want or can only use a gift card. The ability to work with a network of gift cards globally open up the gift card, bank payments, e-commerce payment systems and the CC market.
More nations, more banks, more gift cards, new payment systems.

Re:errrr no

[beelsebob]

The why is simple - the flow for paying with PayPal is terrible. It involves logging in multiple times to multiple different services, being bounced off eBays web page, to pay pal's web page, all kinds of crazy shit going on. This lets ebay just have a sane payments form like every other eCommerce site ever.

Re:errrr no

[JaredOfEuropa]

What’s so terrible about paying with PayPal compared to any other method that doesn’t involve trusting the merchant enough to receive your credit card details?

Re:errrr no

[I'm New Around Here]

I buy stuff on eBay. I click on the button to pay. I get a page that has my information on it. I either click pay, or choose which card/account I want to use for that item, and then click pay.

It is no harder than any other site with a shopping cart.

Re:errrr no

[ZipK]

It hasn't been that way for some time, every item I bought last week didn't require me to then go log into PayPal, I selected it as the option then clicked pay and I was done.

Most likely you previously clicked the option that obviating the need to log in to PayPal from then on. That features has been available for several years.

Re:errrr no

[cascadingstylesheet]

The why is simple - the flow for paying with PayPal is terrible. It involves logging in multiple times to multiple different services, being bounced off eBays web page, to pay pal's web page, all kinds of crazy shit going on. This lets ebay just have a sane payments form like every other eCommerce site ever.

The "crazy" flow is the whole point.

Instead of trusting every retailer on the internet with your "secret numbers" (plus the super secret number on the back of the card! lol), you just bounce to PayPal, and log in there with your - wait for it - PayPal secrets, on PayPal's own site. Then bounce back to the retailer to complete the transaction.

All you've authorized is the one transaction you are doing right now, and the retailer never gets your secrets that would allow them to charge your account anytime they want for as much as they want. Like they would get if you use a credit card.

A few seconds thought and even non-technical people can see how this is more secure, much more secure.

Re:errrr no

[Bert64]

Not so long ago ebay was forcing you to use paypal, and penalising you for using anything else...
You used to be able to accept cash or bank transfers, or charge extra to cover fees if a buyer wants to use paypal

Re:errrr no

[Bert64]

Yes the very notion of a credit card is pretty ridiculous, it's a pull method of payment instead of push, and its the reason why cards are not accepted or issued in many parts of the world with high crime rates.

But then why do you need the paypal middleman? The merchant could simply supply you with their (Receive-only) bank account number, and you can transfer directly from your own bank. The only reason services like paypal exist are because bank transfers are typically stupidly overpriced, often far too slow and the banks tend to make them too convoluted to perform.

Re:errrr no

[Anonymous Coward]

Not so long ago ebay was forcing you to use paypal,

Because eBay and Paypal were effectively the same company. They split in 2015, and as part of that split they had an operational agreement that eBay would process at least 80% of its payments via Paypal (see https://www.finextra.com/newsa...).

Now that eBay is becoming a true free elf, they are looking to cut costs by using another payment processor.

Re:errrr no

[eclectro]

The horror stories surrounding paypal are legion (search for Paypal warning - there could be some old slashdot posts around too). I still hold my breath when doing a transaction with them. They found ways to hold up sellers' money countless times and it would often just disappear. I even felt guilty using Paypal just knowing their sordid past.

This is a smart move by ebay and you can bet there are boatloads of people who are ready to jump ship.

There really seems to be a lot of karma in this, and don't forget that everyone's hero Elon Musk made his money from "horrible" Paypal.

Re:errrr no

[thePsychologist]

I don't understand your experience.

When I buy something on eBay or anywere else using Paypal, I just click 'buy with Paypal'. I log in once, click 'confirm payment' or whatever it's called, and then it takes me back to the shopping page.

Seems pretty easy to me. Used it for at least three dozen transactions in the past year.

Re:errrr no

[mysidia]

Push would be crazy. You'd have people pushing the wrong amounts both before and after they bought things

Authorization should be part of the protocol. The merchant's computer won't authorize a push for the wrong amount, and the customer-specific Push Account ID from the QR code would be ephemeral, so it could no longer be pushed to after the transaction.

Re:errrr no

[Racemaniac]

Then try it if you don't want to have a paypal account.
Recently i bought something off a site that only had paypal as paying option, i no longer have an account (nor do i wish to).
However, the link i got only let me pay if i'd create an account... after realizing there was this "sign-up" mention in the url, i tried removing that part/replacing it with something obvious, and only then i could just pay with my CC without first having to create an account.
Not sure why/how often that shit happens, but when paypal even makes it possible to have such links, the sooner they get replaced, the better.

Re:errrr no

[temcat]

Which exactly part of the payment URL did you replace and with what? Recently, I was unable to pay for a product using PayPal without logging in (even though the store was saying it WAS possible) and was so annoyed that I chose another payment method that was more expensive but bullshit-free.

Re:errrr no

[TheRaven64]

This is basically how Apple Pay works and how credit cards with chips work for in-person payments. The merchant provides the amount and the recipient. The card (or iOS device) provides an HMAC that authorises this single payment. The code is sent to the bank, who then authorises the transaction. I believe that Google Pay works the same way since the rewrite (though Apple's version stores the keys in memory that is readable only by the secure element and does the EMV handshake on the secure element, whereas Google stores the keys in protected storage on phones that support it but does the EMV handshake on the application processor allowing a compromised OS to steal it).

Some US banks provide an ad-hoc version of this, where you can generate a credit card number that's valid for a short period and only for a single transaction of a fixed amount, but I've never seen one with a UI that doesn't suck.

Re:errrr no

[I'm New Around Here]

Well, to be clear, I do have a Paypal account, just for buying or selling stuff on Ebay. I don't think I've used it for anything else. Had it before they merged, consolidated when they merged, and haven't noticed any change since they split. As I said, I buy something, click the payment button, and click once or twice to finalize it with my Paypal account, usually pulling money from my bank account or debit card.

I don't keep money in Paypal. When I sell items, usually Magic the Gathering cards, once the sales are done and paid I move the money to my bank account. Of course Paypal takes their cut, but so would a credit card. I have never had an issue with them, but I am not a high volume buyer or seller.

Re:errrr no

[thegarbz]

I'd want to switch to some payment service I've never heard of and don't trust...... why?

Everything at some point in your life is something you've never heard of, including Paypal.

Now the real question is do you want to research, learn about and subsequently trust a large company headquartered in a state with strict banking laws, that offers multiple banking services including credit cards, debit cards, and online payments, and is subject to some pretty sane laws....

or... do you stick with Paypal, a US company for all intents and purposes except for legal intents and purposes where it instead decided to be headquartered in Luxembourg for the sole purpose of dodging those pesky banking regulations.

I've heard of Paypal: http://www.paypalsucks.com/ In comparison a company which I don't know or trust would be a welcome change.

Re:errrr no

[thegarbz]

Oh you buy stuff. No wonder you're okay with Paypal. It's just not as fun if you get paid, or refund something, or collect donations, or have your account frozen because it is March and the moon is currently in Pisces indicating bad Paypal luck for all Capricorns this month.

Re:errrr no

[coofercat]

Atrocious customer service? Paypal is great until it isn't - and when it isn't, it's an absolute abomination - it's far, far too hard to do things like remove an old card from your account, or unlock a card after they've decided it's 'locked' or any number of other things. I've never used them to collect money for me, but I'm told it's a risky business with them randomly freezing accounts and whatnot with little option to appeal or even work with them to solve the issue at hand.

As for 'trusting the merchant', you almost never do - only the big merchants work this way, everyone else sends you off to WorldPay or some such to take the money.

Re:errrr no

[JaredOfEuropa]

Yeah, I've heard the horror stories, especially from merchants getting locked out of their funds. By all accounts their support is terrible. But the service is pretty convenient for making quick payments. It's increasingly being accepted here my online merchants, and I frequently use it to order out for food or buy stuff online. It beats looking up and entering my CC details, or even using the ubiquitous direct debit system all banks here use for online payments (iDeal).

Re:errrr no

[Pascoea]

Wait a sec. I though we were supposed to hate on Paypal around here. I am on Slashdot, right?

Re:errrr no

[afidel]

One of the oldest anti-company sites on the internet is paypalsucks.com

Re:errrr no

[hazardPPP]

The only reason services like paypal exist are because bank transfers are typically stupidly overpriced, often far too slow and the banks tend to make them too convoluted to perform.

Yes, in North America (and maybe some other parts of the world, I don't know). In Europe, bank transfers are easy, and in fact, a lot of commerce is done this way...the merchant gives you the bank account number and you pay into it. Merchant doesn't have any of your data (except your name and address, which you fill in when you do the bank transfer - but you could fake that with pretty much no consequence).

Granted, it's not instant like a credit card, it usually takes a day or two for the money to show up on the merchant's account. So maybe not great for things you want access to instantly (like an online subscription), but OK for things that in any case require processing time (like something that you buy online that will anyway arrive 5, 7, 10, 30 days later).

International payments are also easy, thanks to IBANs (international bank account numbers) which contain all the necessary information in a single string of letters and digits (North American banks, for some reason, do not use the IBAN system).

Processing fees for domestic transfers are not very high (not bigger than the processing fees credit cards charge - except you don't see those, as they are rolled into the price). International fees could be quite a bit lower (however, your credit card also charges currency conversion fees...not always explicitly, but via the exchange rate).

At any rate, in Europe, the default way of paying lots of things (rent, utility bills, monthly insurance premiums, etc. etc.) is paying straight into the merchant's/service provider's account. Before the advent of online payments, everyone would get pre-filled payment slips in the mail (now in most places you can opt out of this, and go completely electronic) - payment slips use a standardised form btw - and you take these to any bank (or in many countries, also the post office) and pay at the counter. If that also happens to be your bank, they can deduct the money from your account. Everywhere you can pay with cash (and at most places nowadays, debit or credit card as well). The bank charges a fee for this transaction (usually around 1%, with a minumum and maximum fee cap, i.e. they won't actually charge 1% on a $1000 payment, but less, but neither on a $1 payment, but more). When you log into your internet banking, the interface usually presents itself in the shape of the standardized payment slip, so that you can just copy the information easily. Online merchants will, if you select bank transfer as the method of payment, often generate a payment slip for you in PDF, that you can either print (to pay in person at the bank) or just copy the information into your internet banking form.

Re:errrr no

[lsatenstein]

Only if Paypal transferred you payment less commission to the vendor on time. Not 60 days later. When we used Paypal years ago, we had to deposit an amount above the selling price. The payment was made with the remainder on deposit for the subsequent purchase. That meant that they had that amount on deposit. We could not determine how to retrieve that overpayment. I don't know if that is still the case. It was about $10 dollars.

PayPal won't go easy...

[bobbied]

I'm just guessing here, but E-Bay will have a hard time flushing PayPal any time soon. I'm pretty sure PayPal and their customers from E-Bay will have something to say about this.

Re:PayPal won't go easy...

[I'm New Around Here]

Paypal used to be more integrated than it is now. Until ebay sold them off. But even now, it takes me two or three clicks to buy something on ebay. Easy enough for me to not want to switch.

Re:PayPal won't go easy...

[nwf]

I'm a customer, and I hate PayPal. It's worthless. Any idiot can accept credit and debit cards directly for lower fees than PayPal. With Square Cash and Apple Pay Cash, there's no reason to use PayPal to send people cash. Their policies are anti-consumer and they randomly take people's money citing some policy you are violating.

I verified my account by linking it to a savings account, which I then closed. Good luck taking my money. Even better luck when I can completely cancel my account and pay for stuff like the rest of the web has been for 20 years.

Good news

[AmiMoJo]

PayPal is just awful. High fees, crap service, tax dodging and the dispute resolution is a joke.

These new guys can't be any worse.... Can they?

Re:Good news

[mark-t]

"Better the devil you know....." springs to mind immediately.

Re:Good news

[AmiMoJo]

No one really knows PayPal. Their ToS are some of the longest and most unreadable in the world, and change often.

Re:Good news

[bobbied]

I've never had an issue with PayPal's service... The fees are a bit higher than simple credit card processors, but not that bad considering you don't have to do any of the setup work to take credit cards with PayPal. Sure, if you are a retailer processing lots of credit card purchases you'd be better of with somebody else, but if you do one or two transactions now and then, PayPal is fine.

I find the dispute resolution part of PayPal works just fine, but you have to follow the process for shipping and insurance and demand the other party does too.

I do probably 10-20 transactions a year, both buying and selling on E-Bay and other places using PayPal and I've never had an issue with PayPal as a service, though I've had issues with buyers and sellers who where trying to use PayPal and didn't know what they where doing.

I haven't a clue what you mean by Tax Dodging....

Re:Good news

[AmiMoJo]

For example, a common issue with dispute resolution is return postage. PayPal makes it difficult to give a greater than 100% refund, as legally required when the product is faulty.

Another issue is that you can only ever open one dispute per transaction. So say the item is broken, they send you a new one and the dispute is automatically closed by the tracking number saying you have it. If breaks too or is fake or has any issue at all you can't start a new dispute. Thus the only option is to always request a full refund the first time, but you might not get it.

More over, the whole system is designed to prevent you involving any of PayPal's staff in the process. It's very hard to get things reviewed.

Re:Good news

[mysidia]

For example, a common issue with dispute resolution is return postage. PayPal makes it difficult to give a greater than 100% refund, as legally required when the product is faulty.

Well, returning 100% is a full refund. "Give a refund greater than 100%" is nonsensical.

The warranty policy regarding return postage by most manufacturers and online retailers is -- customer is responsible for all postage in both directions for returns and exchanges. In rare cases, a retailer will offer the customer a prepaid return shipping label, in case there was actually an error that was their responsibility such as sending the wrong product --- and not just a routine warranty claim for a defective or non-functioning device or an exchange.

Re:Good news

[LubosD]

Yes, they could. I once received some money into my account at AlertPay. I didn't need the money at that time, so I left them there.

I came looking for them later and the account was empty. I learned that they introduced a new provision in their TOS that says "if you don't access your money for some time, we'll take all of them away". So I ended up with zilch.

So yes, it could always get worse.

Re:Good news

[AmiMoJo]

In Europe the principal is that the buyer should not be out of pocket if the item is faulty, therefore the seller pays return postage. In practice on cheap items the seller usually says throw it away.

Re:Good news

[Bert64]

They place far too much reliance on the tracking information too...
If the tracking says "delivered" then they won't ever refund you. I've had a package where the tracking said it was delivered but i had no trace of it, and noone had ever come to my door on the stated days (based on cctv evidence as well as being physically home at the time).

Turns out the guy tried to deliver it to the house next door, which at the time was empty. I only found out about it several months later when someone moved in and noticed a card with my name/address on it, and a completely ruined weather beaten package left behind his garden gate. By that time i had already tried to use paypal's resolution process, tried to contact the courier and ended up having to file a dispute with my card issuer to get refunded.

Paypal (and ebay) also try to make the buyer pay for return shipping (with tracking, which increases the price significantly), but this is against the law in many european countries where the seller must pay for all costs in cases where the goods are faulty or otherwise not as advertised.

Some sellers also ship from one country, but list their return address in a different one - paypal will only process your claim if you send the item to the registered address which might be prohibitively expensive. I've had cases where the cost of returning the goods exceeds the value of the items.

And finally, you as a buyer can also abuse the system, your claim will be automatically refunded once you submit tracking information - so buy something expensive, file a dispute, and ship a small empty box back to the seller (with tracking). Once it arrives you'll get refunded and the seller has no recourse to complain about *what* you sent back.

Re:Good news

[thegarbz]

I've never had an issue with PayPal's service...

I have. Heck at one point my bank specifically refused to work with Paypal because of their legal skirting of banking laws. When paying for a product it works well, just don't ever use it to receive money. It has varied between not transferring my money into my bank, to sitting on my funds for 3 months for no reason when I raised an ebay dispute for an item that never arrived from a dodgy seller that suddenly accumulated a lot of negative feedback.

The irony of that not going well is that they are widely known to be heavily biased towards buyers over sellers. Stick a round in a revolver, spin the barrel, take aim at your wallet and pull the trigger. The outcome is better than receiving money through paypal.

Huh?

[dohzer]

Wait... so eBay owns PayPal, but is going to stop using it? Huh?

Re:Huh?

[Anonymous Coward]

eBay and PayPal separated about 3 years ago. They are completely unrelated companies now. The only business between them was a (public) 5-year operating agreement to keep Paypal as the primary option. That expires June of 2020. The agreement allows a small percentage of transactions to be processed outside Paypal in 2018 and 2019 (obviously to allow time for development of an alternative).

Source: eBay employee, but not of privileged information. The above was all made public during the public earnings call this week.

Re:Huh?

[Anonymous Coward]

Comments like this are what happens when people don't even RTFS, let alone RTFA.

Re:Huh?

[I'm New Around Here]

That's nothing. Sometimes people don't even R.

Re:Huh?

[Xenolith0]

I know who didn't read the summary.

eBay roadmap is clear

[Parker Lewis]

Then eBay will buy Adyen for $1.5 billion and sell it later for $50 billion.

Re:eBay roadmap is clear

[CaptainDork]

And eBay will buy both.

Re:eBay roadmap is clear

[Excelcia]

Fair enough, but why would they want to buy it in the first place? They bought PayPal only to spin it off and now dump it. How does that make sense, and how would it make sense to try to do it over again?

Re:eBay roadmap is clear

[bobbied]

Adyen was valued at 2.2 billion during the most recent investments. They expect to be valued at at least 6 billion when they do their IPO, rumoured to be this year. I don't think they will sell to eBay for pennies on the dollar.

I say we hold an auction! Anybody know a website for that?

Re:eBay roadmap is clear

[Obfuscant]

And eBay will buy both.

Will they pay using PayPal or Ayden?

I've had no problem with PayPal, EXCEPT when they demanded access to my bank account because I'd successfully bought more then $10,000 of stuff through them. They actually told me that because I'd bought that much stuff and paid for it on-time and without issues using a credit card, I must prove my credit worthiness to them by giving them direct access to my bank account, which they must prove works by actually charging me something.

Fortunately I had an old almost unused credit union account from my old credit union that I could give them. It had all of $5 in it, so no big loss if they stole it all. They haven't so far.

Now I'll have to give the same info to Ayden if I want to keep using eBay? Ummm....

Re:eBay roadmap is clear

[Obfuscant]

FYI: They really just wanted to report you to the IRS. The IRS can connect that old account to all of your newer accounts

Report me for what? Making a total of $10,000 in purchases of radio and electronic gear over a 10 year period is illegal? That's nuts. If it is illegal, they better close the "hamfest loophole" (like the "gunshow loophole"), because I've certainly spent more than $10,000 unreported to the IRS at various hamfests around the country. Thirty years of Xenia (nee Dayton) at about $800 per on average means, umm, wow, $24,000 or so.

The IRS can connect my credit card number to me and to all my newer accounts, too, so why would PayPal bother demanding that they be able to debit my bank account for $0.97 for that purpose?

Re:eBay roadmap is clear

[Bert64]

Because they sold it for more than they paid for it? Why wouldn't they want to do the same thing again?

Re:eBay roadmap is clear

[CaptainDork]

Just don't use Bitcoin (BTC).

I read where they are embedding microphones and video cameras into each coin and stuff.

It makes sense, you know.

Bitcoin is digital, audio and video is digital, computers and even eBay is digital, so yeah.

Why not both?

[Anonymous Coward]

Why not use both and give users a choice? A big reason the ebay/paypal sucks so hard is that you have no choices. You used to be able to do personal checks and money orders (not that I'm saying we should go back to that, but it was a lot cheaper and simpler most of the time for small time buyers and sellers). I would love to see ebay offer both choices to buys and sellers rather than just repeating the same mistake with a different partner.

Adyen Supports Paypal

[muphin]

Ironically, they accept paypal too :p - https://www.adyen.com/pricing/...

Re:Adyen Supports Paypal

[cascadingstylesheet]

Ironically, they accept paypal too :p - https://www.adyen.com/pricing/...

Good - I hate trusting random sites with my payment details.

Re:Adyen Supports Paypal

[Trogre]

So they're a payment aggregator, yes?

Re:Adyen Supports Paypal

[Teun]

Years ago E-bay bought a successful Dutch company called Marktplaats.
Marktplaats has always accepted iDeal because it is trusted and cheap.
As seller you give your bank account to the buyer who via iDeal pays the sum upon which the seller sends the item.
Very recently Marktplaats and iDeal have expanded their service by enabling the seller to send an iDeal request on which the buyer clicks and enters his/her bank details, neither of the two will see the others' bank details, the price is €0.40 per deal.
They now also offer a service whereby both sides will be guaranteed exchange of goods for money but it will cost another 2% of the sum.

Re:Adyen Supports Paypal

[thegarbz]

Ironically, they accept paypal too :p - https://www.adyen.com/pricing/...

Nothing ironic about it. Adyen is attempting to be a universal money movement service. Paypal is Paypal and you're blessed if it works with your bank, or you may as well get a credit card.

Re:Dump Moscow Donald

[uvajed_ekil]

We did pick someone who isn't a traitor. Hopefully he fires the ones who are.

Great idea, because he has such a great track record for filling important jobs and keeping capable people in place for as long as possible. Maybe by the end of his only term (which means he will go down in history like GHW Bush and Jimmy Carter, LOL) he will have nominated people to fill all the vacancies and he can go back to what he's best at without the distractions in his oval-shaped office - watching TV, playing golf badly, cheating on his wife, sexually assaulting women, and lazily defending his companies that file for bankruptcy.

Re:Dump Moscow Donald

[CaptainDork]

Don't you want to be normal?

Don't you want to be well-liked?

Don't you want to join in reindeer games?

Get off your ass and vote and get other people to vote.

If enough people agree with you -- there ya go.

Re:Dump Moscow Donald

[CaptainDork]

Maybe he can fire Billy Bush.

Donald Trump On Tape: I Grab Women "By The Pussy”

At last

[rl117]

PayPal was the primary reason I didn't use eBay for over 15 years. As well as all the other reasons.

Re:Why?

[SeaFox]

Have you tried reading the summary? It has interesting information.

How does this new company compare to PayPal?

[jonwil]

Does this new company do any of the scumbag things PayPal is able to get away with but that banks generally can't legally do? Like freezing your account or taking money out of it for no reason?

EU payment processors are way cheaper

[davecb]

North American companies used to quote my customers about 3%. EU ones quoted andout 1/2%, but wouldn't or couldn't do business in the US and Canada.

Re:EU payment processors are way cheaper

[hankwang]

1/2%, does that mean "between 1% and 2%" or 0.5% ?

Re:EU payment processors are way cheaper

[davecb]

0.5%: Thanks!

Double Dipping

[future assassin]

now you know why...

Comment removed

[account_deleted]

Comment removed based on user account deletion

Re:That's all good...

[sonamchauhan]

Simples! Ebay wants to own the relationship with you -- end-to-end. That means storing card details with *them* (ie, on Ebay servers, or their processing partner's servers. Amazon's one-click patent expired last year, so no licensing is involved with repeat one-click purchases).

Anyone suitably PCI-qualified can be Ebay's payment processor. I think the only reason Ebay isn't setting up their own payment processor (like Amazon or Google) are non-compete terms in their agreement with PayPal.

If Ebay keeps benefits to customers the same or better (buyer-protection, fees, one-click purchases), they can play it so customers won't recall, won't miss, won't care about the old Ebay-Paypal relationship.

The partnership with Ayden may simply be a joint venture to get Ayden exposure in the runup to their IPO. I won't be surprised if Ayden is receiving a token amount above their own cost, or even paying Ebay (perhaps in the form of an equity stake).

Re:I'd actually prefer they do crypto only: 0 fees

[Powercntrl]

eBay will never allow cryptocurrency, because then they wouldn't be able to forcibly refund buyers at any time during their insanely long "180 days" buyer's remorse period. I'm actually surprised eBay has any sellers left at all, after they (eBay) decided their word was final when it came to matters of customer service.

After having to deal with eBay's bullshit one too many times, which included:

1. Scammers somehow using stolen credit cards on PayPal, with the shipping address still showing as confirmed.
2. Overseas scammers buying items, and using a US-based re-shipper - again, with a confirmed delivery address on PayPal.
3. Buyers who don't understand used items do not have a warranty.
4. Buyers remorse from people who couldn't be bothered to read that I don't accept returns (because selling things on eBay once in awhile is supposed to be like a running a garage sale, not Walmart).
5. Getting dinged on shipping speed when the USPS lives up to their reputation for being "snail mail".
6. eBay's 10% cut. Enough said. ...I primarily sell my used stuff on Craigslist, for cash. It's a hassle to deal with lowballers, no-shows, and tire kickers, but I get to keep 100% of my sale. And I never have to worry about spending hours on the phone with eBay/PayPal trying to explain to someone in India that I didn't do anything wrong, and could they please remove the hold on my PayPal funds.

Analysts are so smart!

[tjhayes]

Good thing ebay listened to all those genius analysts back in 2015 when they told them to spin off paypal for $50B. If they hadn't listened, and kept hold of paypal instead they'd be able to spin it off today for $100B. Who would ever have wanted to double the value of something you're holding over a 3 year timespan? /sarcasm

Re:Analysts are so smart!

[j-beda]

Good thing ebay listened to all those genius analysts back in 2015 when they told them to spin off paypal for $50B. If they hadn't listened, and kept hold of paypal instead they'd be able to spin it off today for $100B. Who would ever have wanted to double the value of something you're holding over a 3 year timespan? /sarcasm

But would it have sold for $100B if it had spent the last 3 years as a division of eBay? It is hard to say. The market might have only valued it at $50B.

Did eBay sell all of their stock 3 years ago? Maybe they retained a large fraction of that stock which has now doubled in value.

Re:Analysts are so smart!

[Voyager529]

Good thing ebay listened to all those genius analysts back in 2015 when they told them to spin off paypal for $50B. If they hadn't listened, and kept hold of paypal instead they'd be able to spin it off today for $100B. Who would ever have wanted to double the value of something you're holding over a 3 year timespan? /sarcasm

Those analysts knew eBay wouldn't be able to get a hundred bil for Paypal - they don't even use blockchain!

Re:Dump Moscow Donald

[Shogun37]

Scream a lie loud enough, long enough and some one will always think it true.

I read the summary

[rsilvergun]

I read the article too. All it says is Ebay split the company off at the behest of their shareholders. That doesn't preclude them from using them as a payment service. Maybe I'm just being dense (I'm pretty tired) but I still haven't heard an definitive 'why'.

Re:I read the summary

[mentil]

I recall hearing rumors of antitrust investigations into eBay requiring the usage of PayPal. I imagine it had a lot to do with that.

Re:I read the summary

[thegarbz]

Maybe I'm just being dense (I'm pretty tired) but I still haven't heard an definitive 'why'.

What can you do with Paypal? Receive money from credit cards or a few banks which partner with them.
What can you do with Adyen? Receive money from basically anything and anywhere including many esoteric local payment methods in many countries.

This may come as a shock to Americans but in much of Europe credit cards are something of an oddity.

I don't buy it

[rsilvergun]

you could fix that with a bit of low-fi tech. And besides, I pay with Paypal periodically (I also Sell Sea Shells on the Sea Shore, but I digress) and while it might be ugly tech it works and it's not hard for the user.

Apple Pay (and Android Pay?) on the Web please

[mccalli]

Not many places use it, but it's good and convenient and secure. And this is not a platform war from me - if Android has similar then that too please.

Would much rather go to a ubiquitous payment method everywhere than "I pay this way online, that way in person" etc.

Re:Whatever could be driving this?

[TheRaven64]

Seems like steps 1 and 2 are in the wrong order. eBay bought PayPal when they were quite popular, made them the standard payment processor for one of the largest online stores, and then sold them when they had increased their value significantly. Doing things that increase a company's value before you buy them is not a great way of making money.

Re:I'd actually prefer they do crypto only: 0 fees

[Bert64]

In some jurisdictions, the law says you *MUST* accept returns if you are selling at a distance (ie online) and/or for a fixed price.

PayPal is not the problem

[rcharbon]

PayPay is not the problem. eBay's fees are obscenely high and complicated, while Paypal's are only mildly usurious.

I will....

[MerlTurkin]

....stick with Paypal thanks. It's never been a problem.

Dumping paypal?

[Foundryman]

My email from eBay on this does not say they are "dumping" PayPal. They have signed an agreement with Adyen and will continue to offer PayPal as an option:

"We have signed an agreement with Adyen, a leading global payments processor, to become our primary payments processing partner. PayPal, a long-time eBay partner, will be a payments option at checkout for eBay buyers."

Canadian user.

[sethric1234]

I'm Canadian and i used to use ebay quite regularly somewhere around 10 years ago.. At some point - it became glaringly obvious that nothing on ebay was worth it anymore. I could buy 99% of what I searched for cheaper on Amazon or other e-commerce sites - brand new to boot. So I'm always blown away when i occasionally check the site for hard to find products and still find them because the realization hits me... People are still using ebay. Blows my mind. Maybee it's different in the states.. But in Canada - it's far from being worth it. PayPal on the other hand - might have high fees.. But I've been using it from its beginning.. I've GOT to have 1 or 2 thousand transactions and the odd time i had a problem with an ebay seller back when i used that garbage service - PayPal got me my money back.

Who cares?

[RogueWarrior65]

Ebay sucks anyway. The site has become a cesspool of scammers looking to buy something at a smokin' deal and then resell it for a few dollars more. Pro tip: never try to sell something that can be bought new.