Ebay said it intends to further improve its customer experience by intermediating payments on its Marketplace platform. In doing so, eBay will manage the payments flow, simplifying the end-to-end experience for buyers and sellers.
EBay has signed an agreement with Adyen, a leading global payments processor, to become its primary payments processing partner. PayPal (PYPL), a long-time eBay partner, will be a payments option at checkout for eBay buyers. The transition to full payments intermediation will be a multi-year journey, and eBay will move as quickly as possible to complete this process within the parameters of the Operating Agreement with PayPal, which remains in place through mid-2020.
EBay has signed an agreement with Adyen to be its primary partner for payments processing globally, including in North America. Adyen powers payment processing for a number of the world’s leading global marketplaces and brings to this partnership a broad global footprint with a flexible and scalable technology platform.
Adyen’s wide geographic reach and experience at scale extends to more than 150 currencies and over 200 methods of payments. Additionally, eBay and PayPal have aligned on terms to offer PayPal as a way to pay at checkout on the eBay intermediated model until July 2023. PayPal will remain an important partner to eBay. eBay will begin payments intermediation on the Marketplace platform on a small scale in North America starting in the second half of 2018, expanding in 2019 under the terms of the Operating Agreement with PayPal. In 2021, eBay expects to have transitioned a majority of its Marketplace customers to its new payments experience.
Adyen has other noteworthy clients like Uber, Netflix and Spotify. What is interesting about this is that Adyen has integrated xRapid into its technology and payment processing. Adyen is not supporting XRP directly at the moment, but by registering on Apiant.com at this page, you can connect Adyen to Ripple.
For XRP, exchange trading and financial regulation will have short-term impacts on price and the underlying technology is more likely to have long-term impacts on price.
