PayPal on Wednesday unveiled its most ambitious attempt yet to move beyond its core payments business, as it announced the $4bn acquisition of private ecommerce company Honey. The deal — the biggest in PayPal’s history — will bring the company a new source of data and insights into online shopping behaviour, paving the way for it to reach deeper into online purchases and offer a wider range of services to consumers and merchants. The acquisition comes as the online payments company faces a new wave of competition from internet giants such as Apple and Google, leading it to search for new ways to cement its ties with customers and become more useful to merchants. Read More...
PayPal on Wednesday unveiled its most ambitious attempt yet to move beyond its core payments business, as it announced the $4bn acquisition of private ecommerce company Honey. The deal — the biggest in PayPal’s history — will bring the company a new source of data and insights into online shopping behaviour, paving the way for it to reach deeper into online purchases and offer a wider range of services to consumers and merchants. The acquisition comes as the online payments company faces a new wave of competition from internet giants such as Apple and Google, leading it to search for new ways to cement its ties with customers and become more useful to merchants.
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