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EBay Expands Mobile Payments With Braintree Deal

EBay Inc., owner of electronic-payments service PayPal, said it will bolster that business by buying Braintree for $800 million in cash to expand its mobile-transactions business.

Braintree, a global payments platform, works with online and mobile-only startups such as room-rental service Airbnb and online restaurant-reservation company OpenTable Inc., EBay said in a statement today. Braintree, which is based in Chicago, will become a unit of PayPal.