eBay officially completed its acquisition of PayPal yesterday in a deal valued at $1.5 billion. The transaction was approved Thursday by the holders of approximately 65% of the outstanding shares of PayPal common stock. PayPal will continue to operate as an independent brand. eBay’s current payment service, eBay Payments by Billpoint, will complete the phase-out of its operations in the first half of 2003. PayPal’s gaming business will be phased out by the end of 2002. Following the completion of the merger, PayPal’s CEO Peter Thiel resigned and Matt Bannick was named eBay’s SVP of global online payments, assuming all of Thiel’s responsibilities. For the full year 2003, eBay currently expects that net revenues for the new Payments segment, which includes PayPal, will be approximately $300 to $310 million. As of October 1, PayPal had 20 million member accounts, including 3.7 million business accounts. For complete details on PayPal’s prior performance visit CardData ([www.carddata.com]).