EBay said that the integration of Adyen would also provide customers with "greater choice" when checking out.
"We believe that we can offer a more seamless experience while giving buyers and sellers more choice for payment and payout options," eBay Chief Executive Devin Wenig said on a conference call with analysts, according to the Wall Street Journal.
The firm added that it would be able to expand payment options into more regions around the world. Adyen lets consumers pay in 150 currencies.
It will also let buyers manage checkout within eBay, rather than being directed to PayPal before completing a purchase.
In an emailed statement to CNBC, Adyen CEO and co-founder Pieter van der Does said: "We are thrilled that eBay, one of the most successful e-commerce companies of all time, has chosen Adyen as its new, global payments processing partner. Adyen is uniquely positioned to meet the needs of high volume global marketplaces like eBay. We look forward to powering transactions on eBay, starting in North America, and supporting their continued global growth."
EBay will continue to let customers use PayPal as an option for checking out until July 2023, but most of eBay's payments will be processed by Adyen by 2021.
The firm said in its statement that PayPal would "remain an important partner to eBay."