The move comes as eBay's PayPal unit works to evolve from its roots as an online payments provider, expanding its offline, mobile and online offerings to stores, restaurants and other business.
eBay Inc. said Thursday that it will operate Braintree as a separate business. Braintree expects to process about $12 billion in payments this year.
Braintree will continue to do what it's currently doingMarcus said, adding that PayPal will help the company to grow and to expand internationally.
eBay said that Braintree's mobile app, Venmo, will help add to PayPal's mobile payments capabilities. The app lets people pay each other using their mobile devices, similar to a service PayPal offers