Ebay Inc (NASDAQ:EBAY) has agreed to purchase Paypal rival Braintree this morning for $800 million. Braintree offers an online payments processor similar to Paypal, but it is more functional on smartphones and tablets. Paypal has fallen behind some rivals in this area in recent years, and the Braintree acquisition should help to shore up the company’s offerings.
The stock market seemed impressed with the Ebay Inc (NASDAQ:EBAY) decision, ad shares in the company increased by close to four percent in early trading. Ebay is facing its first big wave of competition in years in...
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