Paydiant Acquired by PayPal for Mobile Payments Expansion

Paydiant, a company that specialized in mobile payments, was acquired by PayPal in 2013. This acquisition marked a significant milestone in the expansion of mobile payments.

The acquisition was a strategic move by PayPal to strengthen its position in the mobile payments market. Paydiant's technology and expertise in mobile payments were a valuable asset to PayPal.

Paydiant's innovative approach to mobile payments allowed merchants to easily accept mobile payments without the need for expensive equipment or complex integration. This made it easier for businesses to join the mobile payments revolution.

By acquiring Paydiant, PayPal gained a significant advantage in the mobile payments market, enabling it to offer a more comprehensive and convenient payment experience to its customers.

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PayPal acquired Paydiant, a mobile payments firm, for approximately $280 million.

This acquisition is a significant move for PayPal, allowing them to expand their mobile payments capabilities and become an even stronger business partner for merchants.

Paydiant's technology agnostic approach means merchants can use any mobile payment technology that best suits their business, such as QR codes or NFC.

With Paydiant's platform, merchants can create their own branded wallets to accelerate mobile-in-store payments and drive consumer engagement.

By joining the PayPal family, Paydiant will be able to scale its mobile wallet technology and offer value-added benefits to its merchant customers.

PayPal's resources will enable Paydiant to push the boundaries of innovation for merchants, providing world-class risk management, 24 x 7 customer support, loyalty points, and private label card acceptance.

The acquisition is also a win for credit unions, as Paydiant's white-label platform is used by many retailers and banks to add payment, loyalty, and digital coupon capabilities to their own apps.

Paydiant's customer list includes MCX, a consortium of big-box retailers led by Walmart, which plans to launch its own mobile wallet app, CurrentC, later this year.

CU Wallet, which offers a white-label digital wallet solution to credit unions, sees the acquisition as a "clear and public validation" of its credit union-driven mobile wallet strategy.

The Paydiant platform stores mobile payment credentials in the cloud, and works with NFC, QR codes, and Bluetooth low energy.

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Paydiant has filed 3 patents, with the first one related to payment processing methods and systems. This patent was granted on April 5, 2016.

The patent's application date was February 15, 2013, and it covers topics such as payment systems, credit cards, debit cards, interbank networks, and mobile payments.

Paydiant's other patents are also filed on February 15, 2013, but their titles and related topics are not mentioned in the provided information.

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Paydiant has filed 3 patents, with the first one being "Payment processing methods and systems" which was granted on April 5, 2016.

The application date for this patent was February 15, 2013. The patent is related to payment systems, credit cards, debit cards, interbank networks, and mobile payments.

Here are the details of Paydiant's patents:

Paydiant, a mobile wallet tech company, was acquired by PayPal. Chris, a co-founder of Paydiant, played a key role in the company's success, powering payment apps for major brands like Subway and Capital One.

Chris has a track record of picking successful companies to join or co-found, with Paydiant being one of them. He led both product and marketing entities at companies, a rare skillset that sets him apart.

Underscore, the firm where Chris is a Partner, recently announced a new $58M Fund III. They're investing in pre-Seed and Seed B2B software founders.

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PayPal has made a significant investment in Paydiant, a leading provider of cloud-based payment processing solutions. This investment is a testament to the growing demand for secure and efficient payment processing.

Paydiant's technology is designed to work seamlessly with existing payment systems, making it an attractive option for businesses looking to upgrade their payment infrastructure.

In 2013, PayPal acquired Paydiant, expanding its capabilities in the payment processing space. This acquisition has allowed PayPal to offer a more comprehensive suite of payment solutions to its customers.

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