eBay

eBay (NASDAQ: EBAY) was the original parent and primary TPV source for PayPal until the two companies separated in 2015. eBay subsequently migrated its checkout processing to Adyen between 2018 and 2023, removing what had been a captive anchor of PayPal’s payment volume. This migration is a key datapoint in reconstructing the innovation timeline — the loss of eBay volume forced PayPal to compete on open-market merchant adoption for the first time.

Connections

• PayPal Holdings — formerly_owned_by, separated 2015, source: historical
• Adyen — replaced_paypal_with, 2018-2023, source: historical