3,2,1 – Mine: Ebay began as an auction house for private stuff, now it is one of the largest shopping platforms in the network. With the announcement of the latest quarterly figures, Ebay said this week, to want to be a payment system change. After 16 years of joint cooperation, it separates from Paypal. All billing processes will in future run on proprietary systems.
Ebay benefited from the simplicity of PayPal, Paypal in turn, from the great range – so why are the two companies separate? It is – of course – the money. Paypal is 1.9 percent of the sale amount plus charged 0.35 Euro transaction fee for professional sellers, it is slightly cheaper. However, for high-priced products, where Ebay earns a lot, it goes quickly into the money. And the can – or rather, no longer wants to make – up of the group in competition against the top dog Amazon.
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The new solution comes from the Netherlands
The own payment solution to be developed by the Dutch Partner, Adyen, reported the “business week” in February 2018. Due to the separation of Paypal, the fees for distributors are intended to fall on Ebay, and the platform will become more competitive. Amazon can offer in case of some product groups, often lower prices, because it avoids foreign taxes. Buyers, in turn, should receive more security and many more payment options. In addition to debit and credit card, Google Pay and Apple should be offered to Pay. Paypal will also remain as an Option.
However, the plug will not be pulled immediately: the transition to The new payment system should be carried out in Germany by 2021. So that comes From nearly 20 years later after the original purchase in 2002 Paypal was bought by Ebay for $ 1.5 billion. This, among other things, the current head of Tesla’s Elon Musk was rich. By 2014, Paypal remained part of Ebay, then the payment service was developed independently, however, both services worked together very closely.
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