EBay buys online payments processor Braintree to give its own business, PayPal, added mobile growth.
On September 26, 2013, eBay acquired Braintree for US$800 million and announced Braintree would continue to run as a separate service.
Braintree is a Chicago-based company located in the West Loop that helps online businesses process credit card payments by providing a merchant account, payment gateway, recurring billing and credit card storage. Braintree is a Level 1 PCI-DSS compliant service provider that was established in 2007. Now there are offices in Chicago, Palo Alto, San Francisco, and New York.
eBay Inc., headquartered in San Jose, California, manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide.
On October 3, 2002, PayPal became a wholly owned subsidiary of eBay. PayPal is a global e-commerce business allowing payments and money transfers to be made between businesses and customers via the Internet. The PayPal online money transfers function as electronic alternatives to paying with traditional paper methods, such as checks and money orders.
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