PayPal Expands its Market Reach with the Acquisition of Paydiant
NEW YORK CITY, NY: PayPal, an online mobile payment solution provider, announces that it has acquired Paydiant – a provider of a cloud-based white label mobile wallet – to expand its business by adding clients such as Subway, Harris Teeter, Capital One and MCX.
The acquisition enables PayPal to utilize Paydiant’s platform to develop new branded wallet that accelerates mobile in-store payments and enhances the customer engagement through mobile payments, loyalty and offers. The customer will have liberty to prioritize their preferred payment types including credit cards and gift cards. Along with this, the company also gives the flexibility to choose any mobile payment technology such as Quick Response (QR) Code and Near-Field Communication (NFC).
Paydiant scales its white label wallet platform and provide value-added benefits to consumers with customer support at anytime. The company also offers open payment architecture to support all mobile operating systems that extends its boundaries by reaching to several markets with 162Mn active digital wallets.