Internet giant eBay made headlines this week over its decision to drop Paypal as a payment processor on its site. While this was news in itself as Paypal’s stock price took a dive, perhaps more interesting are the potential options that come with eBay’s new processor, a Dutch company called Adyen.
Adyen, which processed roughly $25 billion worth of payments in 2014 and $50 billion the follower year, is unique because it has partnered with BitPay since the end of 2015. Bitpay is a popular payment platform that allows consumers and businesses to conduct transactions with bitcoin and cryptocurrencies. Announcing the partnership at the time, Bitpay noted their union would allow “some of the biggest companies in the world the ability to begin accepting bitcoin payments.”
Boasting that Adyen works with “over 180 currencies and over 250 payment methods to process their payments,” Bitpay added that “Adyen’s merchants can now easily accept bitcoin as a payment method from their e-commerce stores.”