Adyen becomes eBay's premier payment processing partner

eBay will end its 15-year partnership with PayPal and replace it with Adyen as the payment platform of choice for buyers and sellers, affecting millions of people who buy and sell goods and services on the site.

What is Adyen?

Adyen, which means "once again" in Surinamese, was founded by founder Pieter van der Does, who said his experience working at British payments company Worldpay helped him shape Adyen.

Pieter van der Does decided to build a payment system that would not compete with merchants for users. He said: "We are not trying to make Facebook users become Adyen customers. For us, it doesn't matter which payment method users use."

Adyen has agreements with multiple payment companies, such as Visa and MasterCard in the United States and the United Kingdom, Cartes Bancaires in France, Oxxo in Mexico, and Alipay and UnionPay in China.

Investors say the model gives Adyen an advantage over rivals such as PayPal, which prefer their own payment services.

"Adyen is the new breed of payments company that will offer the best deal, while PayPal wants to keep payments on its own platform," said Jan Hammer, partner at venture capital firm Index Ventures.

eBay and Adyen sign payment partnership agreement, benefits of this cooperation include:

For sellers:

Lower costs and clearer financial control: The vast majority of sellers can expect to see a reduction in their payment processing costs after connecting to eBay’s new payment solution. Sellers will also benefit from a simplified pricing structure and more control over funds management.

Centralize your business: eBay is committed to providing sellers with more business information, including payment information, so that sellers can more centrally and easily view and manage all their transactions and customer interactions.

Higher Buyer Reach and Conversion Rates: eBay believes that by offering buyers more payment methods and expanding payment areas, sellers will reach more buyers and significantly increase conversion rates.

For buyers:

More Payment Options: eBay will focus on providing consumers with more payment options when shopping.

Integrated Payment Experience: eBay will provide consumers with a more seamless shopping experience by integrating payment management into one platform.

Strategic Partners

eBay has signed an agreement with Adyen to become eBay's primary payment partner, covering global payment processing business including North America. Adyen provides payment processing services to many of the world's leading companies, helping its partners extend their footprint around the world by providing a flexible and scalable technology platform. Adyen covers a wide geographical range and has expanded its service scale to more than 150 currencies and more than 200 payment methods.