eBay Is Dumping PayPal For Dutch Rival Adyen (cnn.com) 143
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.
errrr no (Score:5, Insightful)
I'd want to switch to some payment service I've never heard of and don't trust...... why?
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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
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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... [finextra.com]).
Now that eBay is becoming a true free elf, they are looking to cut costs by using another payment processor.
Re:errrr no (Score:5, Informative)
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.
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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.
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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 merchan
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Re:errrr no (Score:5, Insightful)
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 (Score:5, Insightful)
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.
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One of the oldest anti-company sites on the internet is paypalsucks.com [paypalsucks.com]
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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 payp
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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 sal
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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.
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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 th
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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 s
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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 o
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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.
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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.
I don't buy it (Score:2)
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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 (Score:4, Informative)
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.
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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 d
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PayPal won't go easy... (Score:2)
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.
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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.
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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 l
Good news (Score:5, Informative)
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?
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No one really knows PayPal. Their ToS are some of the longest and most unreadable in the world, and change often.
Re:Good news (Score:4, Insightful)
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....
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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
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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 p
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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.
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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 notic
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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 kno
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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.
Huh? (Score:2)
Wait... so eBay owns PayPal, but is going to stop using it? Huh?
Re:Huh? (Score:5, Informative)
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.
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Comments like this are what happens when people don't even RTFS, let alone RTFA.
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That's nothing. Sometimes people don't even R.
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eBay roadmap is clear (Score:4, Insightful)
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And eBay will buy both.
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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 unuse
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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.
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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,
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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?
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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 (Score:4, Funny)
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?
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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 benef
Why not both? (Score:1)
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 (Score:5, Informative)
Double Dipping (Score:2)
now you know why...
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Ironically, they accept paypal too :p - https://www.adyen.com/pricing/... [adyen.com]
Good - I hate trusting random sites with my payment details.
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So they're a payment aggregator, yes?
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Ironically, they accept paypal too :p - https://www.adyen.com/pricing/... [adyen.com]
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.
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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 de
At last (Score:2)
Why? (Score:1)
Re:Why? (Score:4, Insightful)
Have you tried reading the summary? It has interesting information.
I read the summary (Score:2)
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I recall hearing rumors of antitrust investigations into eBay requiring the usage of PayPal. I imagine it had a lot to do with that.
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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.
How does this new company compare to PayPal? (Score:3)
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 (Score:4, Informative)
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1/2%, does that mean "between 1% and 2%" or 0.5% ?
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Analysts are so smart! (Score:1)
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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.
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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!
Apple Pay (and Android Pay?) on the Web please (Score:2)
Would much rather go to a ubiquitous payment method everywhere than "I pay this way online, that way in person" etc.
PayPal is not the problem (Score:2)
I will.... (Score:1)
Dumping paypal? (Score:2)
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. (Score:1)
Who cares? (Score:2)
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.
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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 comp
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Maybe he can fire Billy Bush [youtube.com].
Donald Trump On Tape: I Grab Women "By The Pussy”
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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.
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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.
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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.