Etsy took over payment processing on behalf of sellers and is now expanding that to more countries, it announced on Thursday. The announcement covers transactions in Turkey, Malaysia, and Mexico to start, with more countries to follow.
Etsy had entered into an agreement with Adyen in 2016 covering the US, Europe and other key markets. When it rolled out Etsy Payments in 2017, it required all sellers in the US to accept Etsy Payments, but allowed sellers who already offered their own PayPal accounts to continue to offer it as an option.
But one year ago (May 15, 2019), sellers’ own PayPal accounts on Etsy became a thing of the past.
Note that the change from allowing sellers to offer their own payments to taking control of the payment-processing system is similar to what eBay is now attempting with Managed Payments.
You can find details about Thursday’s news on the Etsy Announcement board.