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EBay faltered because of its own managerial errors, but also because of delayed approval for PayPal, its online payment system, which this week announced a partnership with a Chinese rival.

Ebay本周宣布了与中国竞争对手达成伙伴关系。他的畏缩不前不仅仅缘于其自身的管理失误，也因为延迟审批它的在线支付系统PayPal。

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He helped create the electronic payment system PayPal.

VOA: special.2011.05.30

The system will be particularly easy to implement for merchants who already enable PayPal payment on e-commerce websites.

FORBES: PayPal Wants You To Ditch Your Wallet

According to eBay's statement, the PayPal payment division generated the greatest growth.

BBC: eBay shares rise as sales jump 18%

As the analysts report, new Federal Reserve rules assert that alternative payment systems like PayPal are not payment card networks subject to a provision known as the Durbin amendment that caps interchange fees.

FORBES: eBay: Merrill, Citi Upgrade; See Lift From New Debit-Card Rules