Image credits: Adyen
In 2018, eBay signed an agreement with Amsterdam-based fintech unicorn Adyen to become its main payments processing partner.
As a part of the agreement, “eBay is entitled to acquire a fixed number of shares in a series of four tranches (each a “Tranche”) for cash, at a specified price per share upon the terms and conditions set forth in the warrant agreement.”
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On Thursday, Adyen issued 403,724 shares following eBay exercising the first tranche of the warrant. This entitles eBay to acquire a fixed number of Adyen shares in a series of four tranches subject to certain processing milestones being met.
These were exercised at €240 per share and represented 1.25 per cent of Adyen’s issue-date diluted share volume.
eBay: What you need to know
Based out of California, eBay is an online marketplace that connects a global network of buyers and sellers. Founded in 1995 by Pierre Omidyar, eBay features numerous products from fashion, electronics, and motors to antiques, visual art, and stationery.
eBay partnered with Adyen to further improve the customer experience on its Marketplace platform. PayPal, a long-time eBay partner, will be a payments option at checkout for eBay buyers until July 2023.
Adyen’s previous developments
In August, Adyen announced a new machine learning tool, Score, for signaling irregular activity and monitoring platform compliance.
Using Machine Learning and Network Analysis, Score flags unusual behaviour by platform users and assigns a risk score – helping Adyen’s merchants prevent misuse of the platform.
The company also announced a partnership with Just Eat Takeaway.com to launch Takeaway Pay Card as a part of Takeaway Pay employee benefits service.
The new debit card will allow Takeaway Pay corporate clients to use their meal allowance at thousands of selected food and beverage merchants that accept Mastercard and Maestro worldwide.
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