auction web service eBay is buying payment system Braintree for approximately $800 million, Reuters informed.
The transaction may be finalized at the end of the fourth quarter 2013. With this acquisition of Braintree, eBay will have access to the Venmo application enabling consumers to pay via smart phones and tablets.
PayPal, the main service provider in online payment segment, has 120 million users.
eBay founded in 1995, has about 110 million active users.