eBay Drops PayPal for Crypto Plaform BitPay and Adyen

According to Cutler, the e-commerce portal could take on cryptocurrencies as payments.

In an interview with Yahoo Finance, the vice president accedes the present hype and popularity of cryptocurrencies. The executive signaled that eBay is looking into digital currencies but isn’t primed to accept them yet.

Cutler stated:

“This is a trend that everybody is talking about, but sadly, at eBay, we don’t currently accept Bitcoin as a form of payment. [We’re] seriously considering it as these cryptocurrencies become more mainstream, [but] we’re not quite there yet.”

eBay publicized its plan to discontinue PayPal as a payment option from its website, reflecting poorly on PayPal’s stock.

On January 31, 2018, Cutler’s firm announced that it has instead signed an accord with Adyen, an Amsterdam-based payment service company, to become eBay’s primary processor.

More importantly, Adyen also partnered with BitPay, the popular cryptocurrency payment platform, which will allow all Ayden clients to use their service.

About the agreement, BitPay’s blog stated:

“Adyen’s merchants can now easily accept Bitcoin as a payment method from their e-commerce stores.”

There is a considerable possibility that eBay could accept cryptocurrencies due to its partnership with Adyen. Source