• News
  • Business

EBay is dumping PayPal after 15 happy years together

EBay is dumping PayPal after 15 happy years together

It will be a mulit-year transition as eBay phases out its current arrangement with PayPal. PayPal will remain as an option for customers to pay, alongside a growing line up of alternatives, at least until July, 2023, eBay said.

For the March quarter, PayPal said it expects profit of 53 cents a share, a penny below consensus estimates of 54 cents.

Some analysts said they were surprised by eBay's estimate of the benefits from taking payments intermediary service in-house.

"The company's two sided digital payments platform is a valuable and difficult-to-replicate asset exhibiting strong network effects", Greene said.

Shares of PayPal sunk 7% Thursday after its former parent revealed it would no longer use the payments service as its primary processing partner.

eBay has also begun making significant investments across its business to build the capabilities required to reduce its back-end reliance on PayPal and intermediate payments across its own platform.

"eBay's payments initiative is expected to deliver value to customers through an improved shopping experience, enhanced selling tools and streamlined costs", the eBay blog post read.

eBay is slowly shifting away from its old buddy PayPal.

Strava tracking data reveals locations of secret military bases
The issue was first raised by Nathan Ruser , a 20-year-old worldwide security student at the Australian National University. Scott Lafoy, an open-source imagery analyst, told CNN it's too early to truly assess how useful the data is.

PayPal separated from eBay in 2015 and is now the larger of the two companies, with a market cap of $103 billion. eBay is valued at $42 billion.

PayPal's new strategic direction has led to partnerships with numerous large financial institutions and big technology companies including Alphabet Inc's (GOOG.O) Google, Apple Inc (AAPL.O), Mastercard Inc (MA.N), Visa Inc (V.N) and JPMorgan Chase & Co (JPM.N).

PayPal has been steadily widening its customer base since it was spun out of eBay in 2015, having been predominantly focused on processing payments for eBay.

Shares of PayPal Holdings, Inc.(NASDAQ:PYPL) have seen a movement of -0.63% in the most recent session.

The move doesn't mean a complete goodbye to PayPal on eBay.

Sellers should expect "to provide eBay with some additional payments-related data and transition to a new relationship with eBay that includes integrated payments", so eBay.

Jennison Associates LLC raised its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 117.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. They will have the option of paying through Adyen and if they decide to pay through PayPal, they will have to exit eBay and then do it.

Leave Your Comment

Leave Your Comment

Latest News

Breaking News


Amazon releases Super Bowl ad, Alexa loses voice — GeekWire

Users who want to disable SMS features can do so by going to their contact card in the Alexa app and toggling it off. Last year, Amazon also introduced a feature that would allow Echo users to call and message for free.

Netanyahu confronts Putin over Iran's actions in Syria, Lebanon

Its troops have fought alongside Iranian and Russian forces, helping Syrian President Bashar Assad during a seven-year civil war. Netanyahu and Putin met for some 90 minutes privately, and also held talks on bilateral issues with their wider staffs.

Ikea founder Ingvar Kamprad dies

He left the country in 1976 for Switzerland in protest of his homeland's crippling taxes - the highest in the world at the time. It was the start of what became IKEA , now with 403 stores across the globe, 190,000 employees and $47 billion in annual sales.

FBI's No. 2 official McCabe, blasted by Trump, steps down

Trump asked in a December tweet that how McCabe could lead the Clinton probe when his wife got donations from "Clinton Puppets". His wife ran for a state Senate office in Virginia and received donations from former Virginia Gov.

Democrat Joe Kennedy to respond to Trump's union speech

The unmistakable sound of nothing. "I can not in all good conscience be in a room, with what he has said about so many Americans". ABC News , CBS News , and NBC News will all support their TV coverage of the addresses with digital streams on YouTube .

Supreme Court stays execution of inmate who lawyers say is not competent

Prosecutors said Madison shot Schulte in the back of the head after he responded to a call from Madison's girlfriend. In November, the US Supreme Court agreed with a state court ruling that Madison was mentally competent.

Your can now preorder Apple's HomePod smart speaker for $349

Currently, the Apple Store app makes no mention of the speaker, but we do expect it to appear once the preorder floodgates open. Oh, and HomePod is tied to its owner's iOS device and Apple Music account, and can't differentiate between voices.

Apple invites hospitals to beta test personal health record with patients

The data is encrypted while on your device and during the period in which it is transferred from the hospital to your handset. They also will receive regular notifications for lab results, medications and other health-related information.

Michigan State athletic director Mark Hollis announces retirement

Comfort, compassion and understanding for the survivors and our community; togetherness, time and love for my family". In Washington, U.S. senators from both parties are calling for creation of a select committee to investigate the U.S.

Rare lunar trifecta may be partially visible in WNY

First, it will be a supermoon , a moon that appears its largest to observers because its elliptical orbit is closer to Earth. Before dawn this Wednesday, Jan. 31, the first total lunar eclipse of its kind in over 150 years will take place.