eBay is buying another payment provider to join forces with subsidiary PayPal.
The company announced Thursday that it will pay around $800 million in cash for Braintree, a payment platform used by many online and mobile startups. Braintree serves such companies as Airbnb, GitHub, OpenTable, TaskRabbit, and Uber. It also offers a mobile app called Venmo, which lets you send money to other people via your mobile device.
eBay expects Venmo to expand PayPay's mobile payments market, which is already forecast to generate sales of more than $20 billion this year.
After the acquisition is a done deal, Braintree … Read more