This is a surprise! eBay will be eventually replacing PayPal as its payment method with a smaller European company called Ayden. This will be phased in over time. PayPal will continue to be available on eBay until July 2023 (over five years from now), while Ayden will have most of eBay’s payments by 2021. So it’s not something disruptive from a consumer perspective as it will be rolled out over time. PayPal’s negatives among consumers are probably high enough that quite a few people may cheer rather than cry for PayPal 🙂
Ayden will launch in small scale later in 2018, and begin expanding in 2019 and later…
More details through CNBC and more discussion in the tech world nicely organized at Techmeme. Here’s eBay’s own explanation of the change in their press release…
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