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PayPal announced the acquisition of Paydiant, a startup that produces mobile technology for payments. Paydiant technologies are used by a number of companies, including names such as Capital One, Subway and CurrentC.

Paydiant provides technology for Current C, product of Merchant Customer Exchange (MCX), which is widely cited as a reason Apple Pay not receive wider deployment. Terms of the deal between PayPal and Paydiant were not disclosed, but it seems that it is primarily the acquisition of intellectual property.

Paydiant about 70 employees will be relocated to PayPal after the transaction and the customer relationship (probably CurrentC) and the aforementioned technology. The acquisition  is worth 280 Million. US dollars, but by PayPal still have not confirmed this figure.

As regards the reasons, the head of the commercial division of PayPal, Bill Reddy said: “We feel confident that dealers and major retailers will want to control their own destiny in terms of what they take.”

Instead of offering brand new payment solution as Apple Pay, Samsung Pay or Google Wallet / Android Pay, PayPal simply wants to provide technology that allows payments to be processed.

https://i0.wp.com/szlifestyle.com/sz/wp-content/uploads/2015/03/sz_paypal_paydiant.jpg?fit=640%2C439https://i0.wp.com/szlifestyle.com/sz/wp-content/uploads/2015/03/sz_paypal_paydiant.jpg?resize=150%2C150Esther R.TECH NEWSPayPalPayPal announced the acquisition of Paydiant, a startup that produces mobile technology for payments. Paydiant technologies are used by a number of companies, including names such as Capital One, Subway and CurrentC. Paydiant provides technology for Current C, product of Merchant Customer Exchange (MCX), which is widely cited as a...