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PayPal Closes Acquisition of Hyperwallet to Enhance Global Payout Capabilities.

M2 EQUITYBITES-November 16, 2018-PayPal Closes Acquisition of Hyperwallet to Enhance Global Payout Capabilities

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16 November 2018 - US-based digital payments platform operator PayPal Holdings, Inc. (NASDAQ: PYPL) has closed the acquisition of global payout platform Hyperwallet for USD 400m in cash, the company said.

The acquisition of Hyperwallet enhances PayPal's payout capabilities, improving the company's ability to provide an integrated suite of payment solutions to ecommerce platforms and marketplaces around the world.

Upon closing, PayPal and Braintree merchants will gain localised, multi-currency payment distribution capabilities in more than 200 markets with numerous disbursement options, including prepaid card, bank account, debit card, cash pickup, check and PayPal.

PayPal Holdings, Inc. (NASDAQ: PYPL) offers an open digital payments platform that is available in more than 200 markets around the world, enabling consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies.

Hyperwallet's provides growing organisations with a fast, efficient, and transparent way to distribute funds to payees almost anywhere in the world. Hyperwallet has offices in San Francisco, Austin, London, Sydney, and Vancouver.

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Publication:M2 EquityBites (EQB)
Date:Nov 16, 2018
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