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Friday, April 10, 2015

PayPal, eBay to stay linked for 5 years after split

PayPal, eBay Inc's electronic payments division, said the two firms had agreed that eBay would not reduce the volume of transactions it channels through PayPal, while continuing to get better rates for its merchants for five years after the two split.
PayPal is slated to be separated from eBay's marketplace division in the second half of this year, creating a publicly traded company, which some analysts say will be worth US$40 billion (RM146 billion).
eBay has agreed to ensure it will channel 80% of its online gross merchandise sales via PayPal, as it does now, for the next five years, PayPal said in a regulatory filing yesterday.
PayPal, for its part, said it agreed to continue charging eBay merchants less than it does other merchants, which would mean that "PayPal rates for eBay merchants will remain largely consistent with today's pricing relationship".
The terms of the agreement also prohibit eBay from forming its own payment service and PayPal from starting its own marketplace. – Reuters

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