Surprise decision that allows PayPal to compete separately from eBay comes shortly after launch of Apple Pay

Online auction site eBay plans to spin off its PayPal business into a separate publicly traded company next year, the company announced on Tuesday. The surprise move comes after the company had rebuffed calls from billionaire hedge fund investor Carl Icahn to sell off its online payments business.
The decision comes shortly after Apple unveiled a new mobile payment system, Apple Pay, that looks set to be a fierce rival to PayPal and Alibaba, China’s massive online marketplace, debuted on the New York Stock Exchange… Read article in full courtesy of The Guardian here