INTU) and Square, which have begun to put pressure on the likes of VeriFone ( PAY), have demonstrated the ability to service a growing need for person-to-person transactions. I've chronicled the potential effect of Apple's ( AAPL) entry into the realm of e-commerce. Unlike VeriFone, whose stock has lost roughly 50% of its value since we began following these developments, eBay ( EBAY), on the strength of its growing PayPal business, has gone pretty much unscathed. AMZN), eBay is a force to be reckoned with in e-commerce. The question, though, is how much of eBay's long-term growth should investors rely upon beyond the strength of PayPal? Said another way, will eBay continue to serve as a thriving marketplace storefront for ecommerce or will the company migrate into a merchant/transaction business for PayPal? Both require different sets of expectations and assumptions. But there are indications that management has begun to focus on the latter, which presents a different set of concerns altogether. Earlier this year, eBay inked a deal with NCR Corp. ( NCR), which specializes in point-of-sale (POS) technology. The agreement allows for NCR's POS systems to integrate with PayPal's mobile services that will enable customers to pay for goods and services using their smartphones. The deal will also present PayPal users the option to use NCR's Convenience-Go app for gas stations and convenience stores.