eBay has purchased the online payment system, PayPal.
C|Net has the story:
On Monday, eBay said it is acquiring online payments company PayPal in a deal valued at $1.5 billion. eBay will also phase out its own competing service, eBay Payments by Billpoint.
eBay bought Billpoint in May 1999 but did not fully launch the service until spring 2000. Despite heavy promotion, Billpoint has struggled to win market share from PayPal.
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Source: TechSpot
