PayPal Stock Falls After Losing Deal With eBay

Entertainment (now)
Entertainment (now)
  • 6 years ago
Upon news that eBay has signed up with a new payment partner, PayPal's stock fell significantly. EBay accounts for 13% of PayPal's processed payments. Before the announcement PayPal stock was at $85.48. eBay announced that it had partnered with Dutch payments company Adyen for its global payments processing, which would enable users to remain on eBay's website instead of being diverted to a separate PayPal screen. PayPal will still be a payment option on eBay until at least July 2023.
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