EBay, PayPal make the split official

EBay and PayPal have officially split into two separate companies—the former being an online retailer and the latter a payment company. The entities had been joined since eBay bought PayPal in 2002. But as PayPal became a fast-growing subsidary, it was in the company's best interest to split and trade independently in order to better compete with rivals, such as Apple Pay. PayPal will continue to serve as eBay's payment provider. Story