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eBay picks up PayPal for $1.5 billion

Posted by Philipp Esselbach on: 07/08/2002 10:50 AM [ Print | 0 comment(s) ]

Like many of its customers, auction giant eBay has decided to use PayPal as its electronic payment system.
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.

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