Nov. 16, 2018
PayPal Holdings Inc. has completed its $400 million acquisition of Hyperwallet, a move that the company expects will enhance its suite of payment options on e-commerce platforms in markets around the world, according to a company press release.
Hyperwallet CEO Brett Warrington will join PayPal and continue to lead Hyperwallet, reporting to Juan Benitez, vice president and general manager of Braintree, which is the unit that provides merchant payment platforms.
The closing comes just two days after PayPal made a strategic investment in Arkose Labs, a San Francisco-based cybersecurity firm that helps prevent online fraud for mobile and protect digital identity. Arkose Labs guarantees a refund to customers in case the technology fails to stop an automated attack, according to the release.
Arkose Labs in September announced $6 million in Series A funding from investors led by US Venture Partners, which brings its total outside investment to $14 million.
Topics: Mobile/Digital Wallet, POS, Security
Companies: PayPal
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