PayPal will close in 2020

[yamaouiz]

Is it true that PayPal will close in 2020?

 

[moon10k]

where tf did you hear that lol

 

[Maddy]

https://www.fool.com/amp/investing/...fully-prepared-to-lose-ebays-business-ne.aspx ?

 

[DEXA.iM]

where tf did you hear that lol

He misunderstood the news, but
https://www.vox.com/2018/1/31/16957212/ebay-adyen-paypal-payments-agreement

 

[Fire]

Loosing eBay will be quite detrimental to PayPal, since they are one of their biggest customers. But they are still by far the biggest online payment processor, so its very unlikely they’ll be going anywhere anytime soon.

 

[Sloth]

I can understand why eBay is taking this path. There are more and more payment options each day and primarily focusing on one isn’t the best business model.

 

[garnitox]

With BTC market, PayPal need new alternatives.

 

[DEXA.iM]

With BTC market, PayPal need new alternatives.

Unfortunately, BTC and other cryptos do not have the same level of seamless availability that fiat currencies have. Until we have a better way of integrating cryptocurrencie, fiat will reign supreme

 

[Rate]

I didnt quite get it, Ebay is removing PayPal from their payment options or..?

 

[Ivain]

Unfortunately, BTC and other cryptos do not have the same level of seamless availability that fiat currencies have. Until we have a better way of integrating cryptocurrencie, fiat will reign supreme

Not to mention they're unstable AF. I don't currently mind, since the $10 I put into crypto to test my new wallet software half a year ago is now nearly $30, but it could just as easily have been the other way around.

 

[DEXA.iM]

I didnt quite get it, Ebay is removing PayPal from their payment options or..?

PayPal owns(?) Ebay and it is super integrated right now (correct me if I'm wrong pls). Sounds like in 2020 that partnership will end, and so I would assume that PayPal will no longer be a payment processor and they will be going with a Dutch counterpart (based on the article)[DOUBLEPOST=1562275302][/DOUBLEPOST]

Not to mention they're unstable AF. I don't currently mind, since the $10 I put into crypto to test my new wallet software half a year ago is now nearly $30, but it could just as easily have been the other way around.

Exactly. Crypto is too volatile for it to be practical for use as anything other than an investment

 

[Ghast]

PayPal owns(?) Ebay and it is super integrated right now (correct me if I'm wrong pls). Sounds like in 2020 that partnership will end, and so I would assume that PayPal will no longer be a payment processor and they will be going with a Dutch counterpart (based on the article)[DOUBLEPOST=1562275302][/DOUBLEPOST]
Exactly. Crypto is too volatile for it to be practical for use as anything other than an investment

It’s the opposit way. Ebay bought out Paypal back the in 2012-2015.

 

[Ivain]

Anyway, to summarize the article, Paypal and Ebay had a deal lasting till 2020 that Paypal would process all transactions for Ebay. This means that even if you paid through another method (say, creditcard), Paypal still received processing fees for it.
That deal is going to end in 2020, and Ebay will use Ayden instead. Ayden is indeed a Dutch origin payment processing system. It's responsible for the "iDeal" payment method, which allows clients of Dutch banks to pay online directly using their debit card/bank account, and a special 2FA-type device which uses a multi-variable QR-code style color system for added security (Known for my bank as the "Random Reader" and "Rabo Scanner" (old and new respectively)).

 

[Zooply]

Why’d you make the title a statement but the post itself a question contradicting that statement??

 

[DEXA.iM]

Why’d you make the title a statement but the post itself a question contradicting that statement??

Thinking is hard, ok

 

[Polarbears]

If PayPal closes the whole internet marketplace would collapse so