PayPal (PYPL) has officially severed its relationship with eBay Inc. (EBAY – Analyst Report) and is currently trading independently on the Nasdaq. Despite the varying reports of PayPal's market capitalization value ranging from $46.6 billion to $52 billion, the digital payment company would still have a greater market capitalization than of eBay, whose value will shrink to roughly $34 billion due to the separation, according to $46.6 billion compiled data.

Investors are definitely seeing growth potential for PayPal. “Investors have been waiting to invest in PayPal for a long time, even before the split was announced,” $46.6 billion Gil Luria, analyst at Wedbush Securities in Los Angeles. “We're finally at a point where you can only own PayPal with its market-leading position and growth rate.”

The company had 165 million users and processed 1.1 billion transactions in the first quarter, with number of payments up 22% from a year earlier. PayPal followed up with a strong second quarter, increasing users to 169 million, processed $1.1 billion in payments, and transaction volume went up 27% over the prior year.

According to the previous Bloomberg article, “EBay's marketplace becomes a value investment, with 157 million buyers who spent $20.1 billion in the second quarter, down 2 percent from a year earlier due largely to currency exchange rates. Even with its slowdown tied to a data breach and changes to Google Inc.'s search engine last year, EBay is more profitable than PayPal.”

PayPal is attempting to position itself to seize the online payment market share from startup companies such as Stripe and Square, as well as apple's (AAPL – Analyst Report) Apple Pay service, which was unveiled last year.

PayPal is currently trading for over $40 per share, seeing values of over $42 earlier in the day.