eBay is set to splash $800 million on PayPal rival Braintree, as it plans to combine the two payment technologies.
Braintree, led by CEO Bill Ready, has been rapidly signing up big customers since it launched in 2007. GitHub and Airbnb are amongst numerous others who have adopted the automated payments technology and services.
The company also offers mobile payments via its Venmo iOS and Android apps.
It was believed Square, the company founded by Jack Dorsey, was interested in Braintree too.
“Bill Ready and his team add complementary talent and technology that we believe will help accelerate PayPal’s global leadership in mobile payments,” said eBay president and CEO John Donahoe.
“Together, we expect that PayPal and Braintree also will accelerate our leadership in supporting developers who are creating innovative solutions for next generation commerce startups.”
Braintree CEO Bill Ready added: “The alignment with PayPal means Braintree can continue to push the boundaries of innovation while expanding into new markets with increased speed and confidence.
“Our current customers and developer community can expect the same level of support and partnership they’ve always enjoyed, coupled with more resources.”
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