EBay said that the integration of Adyen would also provide customers with “greater choice” when checking out.
“We believe that we can offer a more seamless experience while giving buyers and sellers more choice for payment and payout options,” eBay Chief Executive Devin Wenig said on a conference call with analysts, according to the Wall Street Journal.
The firm added that it would be able to expand payment options into more regions around the world. Adyen lets consumers pay in 150 currencies.
It will also let buyers manage checkout within eBay, rather than being directed to PayPal before completing a purchase.
EBay will continue to let customers use PayPal as an option for checking out until July 2023, but most of eBay’s payments will be processed by Adyen by 2021.
The firm said in its statement that PayPal would “remain an important partner to eBay.”
