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Updated: Tuesday, September 30, 2014

eBay to unleash PayPal in 2015

As a sign of the increasingly competitive and quixotic landscape of the payments industry, online auction site eBay Inc. said Sept. 30, 2014, it will spin off its payments subsidiary PayPal Inc. in the second half of 2015. EBay's decision to unbridle PayPal from its parent company comes as the payments landscape becomes ever more crowded, with Apple Inc.'s foray into mobile payments with Apple Pay and the recent record breaking initial public offering (IPO) of China e-commerce giant Alibaba Group Holding Ltd.

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