By pixinoo/

It’s true … Ebay has opted to go with another payment service as their primary processing partner.

The news was announced on USA Today earlier.

Additionally, Ebay has publicly confirmed they have chosen Adyen as their new payment processing partner.

As news that Ebay was saying goodbye to Paypal spread, Paypay’s shares dropped seven percent.

Meanwhile, Ebay’s shares rose by 15 percent.

It’s important to note, the transition will be slow. If you are still using Paypal as your preferred payment method on Ebay, you will still be able to do so — At least until 2023.

Ebay believes that this change is necessary in order to offer their sellers lower costs.

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