Black Friday, this time, is a special day for PayPal (NASDAQ:PYPL) to test its newly acquired Honey; a browser extension and mobile app to help its users finding discount coupons.
Earlier this week PayPal announced its pricey purchase of $4 billion to buy Honey, the browser extension and mobile app that will give PayPal lots of data on how shoppers search for products and what coupons they use when checking out their shopping carts.
The obtained data will play a critical role to be the ultimate payment processor so that PayPal can make more partnerships with more retailers and brands.
Currently PayPal already has 300 million users, and Honey will help PayPal to see what items its users search and wish to buy and at what price that ultimately gets them to check out. The data will allow PayPal to convince the retailers that it can help them understand customers better related to what product at what price that people want.
This article first appeared on GuruFocus.
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