John Donahoe, Ebay’s chief executive, on Wednesday sought to allay concerns about the online auctioneer’s struggling marketplace business by unveiling a new strategy emphasising online payment processing.

“Today we will share with you a different Ebay,” he said, appearing at his first analyst meeting since taking over from Meg Whitman last year. “The Ebay you knew is not the Ebay we are, not the Ebay we will become.”