Auction site eBay has scrapped its 15-year long partnership with PayPal and instead chosen Dutch firm Adyen as its primary payments processor partner.
Adyen offers over 200 methods of payments across more than 150 currencies.
The transition to Adyen will occur in 2020, when the existing agreement between eBay and PayPal comes to an end.
“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 said in its statement.
Adyen will start processing eBay payments, starting from North America in the second half of this year and eventually process majority of payments by 2021.
PayPal, which was spun out of eBay in 2015, will remain as payment option for eBay shoppers till July 2023.