PayPal and eBay have been in a relationship since the 1990's. The breakup highlights the rise of a new generation of financial technology companies.
EBay said it will eventually replace PayPal with a Dutch firm called Adyen as its primary payment processor, more closely integrating payments on its site. The online marketplace expects to have mostly completed the move by 2021, and PayPal will still be offered as a way to pay at checkout until July 2023. The auction site said “PayPal will remain an important partner to eBay,” which is the equivalent of “let’s be friends” in the corporate world (Adyen is about half PayPal’s age).