PayPal to Officially Go Solo in July

Mobile payments, online banking.The company will already be a major force in electronic payments, given that last year it processed $235 billion in payments, with a billion mobile transactions.

eBay’s board of directors has given final approval to PayPal’s separation from the parent company.

The board decided that the separation would be conducted through a pro rata distribution of PayPal Holdings, Inc. to eBay shareholders, and that this is expected to occur on July 17th. From that point on, PayPal will be its own, independent company, with its own publicly traded shares.

The company will already be a major force in electronic payments, given that last year it processed $235 billion in payments, with a billion mobile transactions. Going forward, PayPal is looking to further expand its presence in the mPayment domain, with a recent push into POS mPayments in Australia and a recently announced expansion of its One Touch service beyond American borders.

It’s going to face some hurdles, though, particularly in the form of chief rival Apple Pay, which is already the leader in the global mPayment sector. Surveys indicate that the two companies currently lead the pack, though other looming mPayment platforms could gain some ground after they launch, too.