In what seemed like a relationship that you’d never see the end of, in October 2014 the two companies announced that they were splitting up and will become two separate entities. As of today, that announcement has finally become a reality as eBay Inc. splits off the auction site from one of the most popular online payment services.
The reason for this split is fairly simple. It’ll allow each company to focus on the services they offer more allowing eBay to grow as an auction site, and PayPal to grow as an independent online payment service.
From here, PayPal is getting its own stock ticker and starts trading on the New York Stock Exchange come Monday, July 20. Apparently, according to Business Insider, this split isn’t going to be that great for eBay however, as it seems for the past couple of years, PayPal has been responsible for most of its gains. Oops.
Either way, with the roll-out of Apple Pay and other mobile payment services, PayPal have some catching up to do in order to become as ubiquitous as Apple Pay hopes to be. Will it work? Only time will tell.