In a move aimed at consolidating its subsidiary PayPal’s position in mobile payments, internet corporation eBay is set to acquire online payments platform Braintree for $800m for .
The deal comes as PayPal continues to move into the mobile payments sector, under the leadership of new president David Marcus.
Go deeper with GlobalData
Start-up payment companies have proved more successful at offering a payment platform suited to mobile transactions.
Chicago-based Braintree has proven popular with internet companies relying on mobile payments.
Braintree has helped provide card infrastructures for many such companies, appealing to the consumers and expanding through the new "sharing economy" market that PayPal has its sights set on.
Commenting on the acquisition, Marcus said that Braintree would continue "business as usual", while benefiting from PayPal’s experience with "regulatory and logistical hurdles".
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataEBay’s largest acquisition since 2011, the deal is expected to close in late 2013.
Related articles:
Braintree launches mobile marketplace solution
PayPal moves into small business lending in the US
PayPal rolls out updates to apps
