PayPal to Acquire Paydiant for $280M

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PayPal has made the big switch from parent company eBay and announced its intention to acquire Paydiant, a white-label, cloud-based mobile wallet platform for retailers, banks and payment processors (as well as cardless ATM access) in March 2015. Paydiant took home two awards at the Innovation Project 2014 for “Most Invisible Player” and “Best Cash Innovation.”

Paydiant’s highest profile partnership is with Merchant Customer Exchange (MCX). “It’s also signed onto some fairly high profile partnerships providing the backend mobile wallet services for (Kroger-owned) Harris Teeter, Subway, Capital One, FIS, Barclaycard and Vantiv – just to name a few.”

Since it was founded in 2010, the firm has taken in about $35M in three rounds of founding, all raised out of the same five investors, including West Capital Advisors.

Read the full story at PYMNTS.com