Quote:
Originally Posted by leighanns520
(Post 1029165)
Tonight I was reading on the managed payment forum on eBay that Ayden is beginning the process to get withdraws to bank done in a more timely way.
Currently many ebay sellers are not too happy about the long wait for there sale money to show up in there bank.
Ayden is in process of obtaining a branch license in United States.
This will take time as it's in the begining phase. The hope Ayden has is to replicate the way paypal and etc do there withdraws to sellers banks.
It's taking me 3 to 5 days to see mine go from paid out to receiving in my bank.
If this does happen it will make managed payments acceptable with the sellers.
Claim also that everyone will be on managed payment in 2020. It mentioned Aug 1 in the post from an Ayden higher up person
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This is the article I spoke of in this current post
08-23-2019 01:18:56 PM
To support the (quick-payout) service, the company is pursuing what Uytdehaage called a “branch license” in the United States. “It’s relatively early in the application process,” he added.
"Adyen Says It’s Ready to Take on the Majority of eBay’s Volume Next Year"
Digital Transactions News Site
August 23, 2019
PayPal Holdings Inc.’s shares dipped slightly late Thursday after a key Adyen N.V. executive told stock analysts that the Amsterdam-based company is “ready” to process “the majority” of eBay Inc.’s volume when eBay shifts to Adyen next year. Adyen also reported it is proceeding with an application for a banking license in the United States to support a faster-payout service it is planning for merchants.
PayPal’s agreement to process for eBay runs through the middle of 2020, but the big e-commerce marketplace has been shifting to a gateway service from Adyen that funnels transactions to a number of payment types, including Paypal.
By mid-morning Friday, PayPal’s shares were trading slightly down, as were Adyen’s and those of many other major payments providers in the midst of a market rout, including a 400-point drop in the Dow Industrial average. Following its initial public offering in June 2018, Adyen trades on the Euronext Amsterdam exchange.
Uytdehaage: “Of course, eBay is important to us. But the majority of the volume will come in 2020…”
While Adyen’s policy is not to discuss individual clients, analysts pressed the company’s chief financial officer Thursday for an update. “Of course, eBay is important to us. But the majority of the volume will come in 2020, at least that’s for until that moment they’re with PayPal,” said Ingo Jeroen Uytdehaage, according to a transcript. “EBay is still piloting with us, early stage. Majority of volume is still with their old provider [PayPal]. We’re ready for it. Majority of volume is still with their old provider … it’s not under our control.”
He added that “of course, we will be very happy to process all the volume. But for us, it’s very difficult to predict. We’re ready for it.”
EBay began moving away from PayPal last year with a “managed payments” program that lets merchants process through Adyen. While PayPal has been eBay’s processor for years (eBay owned PayPal until spinning it off in 2015), it will ultimately become one of many payment alternatives available on eBay.
Uytdehaage also updated analysts on Adyen’s pursuit of a U.S. banking license, though without disclosing much detail. He underscored how Adyen is interested in expanding its quick-payout service to U.S. merchants, which would allow merchants to collect proceeds soon after making a sale. To support the service, the company is pursuing what Uytdehaage called a “branch license” in the United States. “It’s relatively early in the application process,” he added.
Uytdehaage indicated the service’s success in other markets has spurred the company’s interest in expanding the availability of faster payouts. “Of course, because we see so much traction [in accelerated payout to merchants], we always ask ourselves, ‘Okay. In other markets, could we replicate this?’ This is one of the reasons why we indeed announced that we would look at a branch license in U.S.,” Uytdehaage said, without adding details.For the first half of the year, Adyen reported it processed 104.7 billion euros ($116.6 billion) in volume, up 49% over the first six months of 2018. Net revenue was 221.1 million euros ($246.2 million), up 41%
