And then there is eBay's "PreyPal" ...

Any PayPal spin off from eBay will be a spin off in name only …

“PayPal is going to be the dominant payment provider on eBay for a long time and we want it that way, and the separation will ensure that it is that way.”—Devin “Little” Wenig (19 Nov. 2014)

PayPal revenues represented 45% of eBay Inc. revenues in Q2 2014 and 27% of PayPal’s revenue comes from the eBay marketplace. Johnny Ho has only ever been right about one thing, these two clunky operators, eBay and “PreyPal”, are joined at the hip and neither one can now, in the long term, survive without the other; this new arrangement will undoubtedly be “in name only”, with both parties retaining common directors and protective shareholdings, and underlying (“lying” being the operative word) agreements in place so that they can carry on exactly as before; such “spin off” should not fool any but the most naïve of investors or potential partners.

“… more than half of PayPal profitability stems from automated clearing house (ACH) transactions (estimated at about 43% of volume),”—Barron’s (21 November 2014)
http://online.barrons.com/articles/ebay-investors-put-off-by-paypal-1416593392
ACH direct debit transactions are not interactive; they are aggregated for overnight settlement; they were never intended for, nor therefore are they, without credit card backup, suitable for POS payments for goods that are going to immediately walk out the door because, if there is an insufficiency of funds/credit in a payer's bank account, then the bank will reverse the transaction the following day.

Will then the spin off of PayPal from eBay lead to a greater acceptance of PayPal? Only in Carl Icahn’s dreams …

All this “spin” indicates is that the headless turkeys on the eBay BoD and in the eBay executive suite are now becoming desperate to keep both organisations, particularly the eBay Marketplace, from becoming comatose; regardless, nothing is going to stop the Donahoe-damaged Marketplace from continuing to atrophy—notwithstanding that the “dumb money” on Wall Street may be getting excited by the thought of a spin off of the clunky “PreyPal”.

Even given that eBay’s destructive Johnny Ho may appear, finally, to be soon to “spend more time with his family”, the eBay Marketplace and “PreyPal” will both continue shuffling their way towards the palliative care unit—far too much damage has been done to the eBay Marketplace brand by the cretinous Johnny Ho for it now to be saved, and the clunky “PreyPal”, well, it’s now just one more—and still clunky—intermediary that will ultimately be buried in the off-eBay space—not by Apple Pay—but by the two new online/mobile app offerings from MasterCard (“MasterPass”) and Visa (“Visa Checkout”)—which are the only international players with direct “interactive” access to consumers’ funds/credit in the world’s retail banks. In the off-eBay space, “MasterPass” and “Visa Checkout” will soon enough drive the clunky “PreyPal” back into its eBay marketplace pine box—whatever there is left of the eBay marketplace by then.

So, don’t let these disingenuous corporate shysters pull the wool over your eyes; regardless of the spin that they put on it, these two clunky operators are joined at the hip “until death do they part”, and, outside of the atrophying eBay marketplace—except for its rightfully deserved place as the online merchant account provider of last resort—the clunky “PreyPal” is now effectively redundant …

For anyone holding shares in eBay, now is the time to take any profit you can and run for cover, as fast as you can, and I would not touch shares in any separated “PreyPal” with a forty-foot pole …

“As much as possible, avoid hiring MBAs. MBA programs don't teach people how to create companies”—Elon Musk ...