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eBay(s EBAY) is buying Braintree, a Chicago-based payment platform for approximately $800 million in cash, the company announced this morning. “Braintree is a perfect fit with PayPal,” said eBay CEO John Donahoe. Braintree, started in 2007 is used by companies such as Airbnb and Uber for accepting payments and is said to be processing a total of $12 billion in payments annually. Founded in 2007, it has raised $69 million in outside funding from Accel Partners, NEA, RRE Ventures and Greycroft Partners. Techcrunch had originally reported on the talks between Paypal and Braintree.