PayPal has finalized the purchase of the Honey deal finder startup, for a consideration of $4 billion. This latest move pushes the payment processor well ahead of crypto-friendly payment rival, Square.
PayPal Aims to Revolutionize Online Retail
PayPal, one of the largest payment processors, has aimed at taking a larger share of the online retail market. With the rise of fintech, PayPal faces more competitive headwinds. The acquisition aims to expand the retail experience and boost the influence of PayPal and Venmo in a more integrated retail and payment system.
It was those pressures that made PayPal perform the biggest acquisition in the company’s history. Reportedly, Honey has 17 million active monthly users, attracted for coupon services, best Amazon deals, and other discounts from as many as 30,000 online retailers. PayPal’s…
Click to continue reading on its source location…