Paydiant acquisition will give PayPal access to new technology and an extensive list of customers that make use of this technology regularly
PayPal has announced that it will be acquiring Paydiant, a mobile payments firm. The acquisition will give PayPal immediate access to those that use the technology that has been developed by Paydiant. This includes Subway and the retail consortium Merchant Customer Exchange. The consortium is comprised of companies like Target, Wal-Mart, and Sears, and access to this group could further expand PayPal’s position in the mobile payments space.
Paydiant has established a commanding presence in the mobile commerce space because of its innovative technology
Paydiant specializes in mobile technology, and has developed framework that supports mobile payments made through applications, both online and in physical stores. This technology supports the use of codes that function as ways to initial a transaction. Adoption of Paydiant’s technology has been relatively slow, but many prominent companies use the technology to engage mobile consumers in ways that were never before possible. This has made Paydiant a strong force in the mobile payments field, which is becoming increasingly crowded and competitive.
PayPal will face strong competition from Apple, Google, and Samsung in the coming year
PayPal has established a strong presence in the mobile field, having supported mobile consumers and businesses for several years. Later this year, the company will branch off from its current owner, eBay, and become a standalone entity. The company will also be in direct competition with Apple and Google, both of whom are trying to establish dominance in the mobile payments market. Samsung will also be competition for this position, having recently announced its plans to make an initial breach into the mobile commerce market later this year.
Future projects with Paydiant could help PayPal find more success in the mobile payments space
Paydiant’s technology and extensive customer base may help PayPal compete with others in the mobile market. The two companies are expected to work together to develop new initiatives that are based on Paydiant technology and PayPal services. Details concerning future plans have, of course, not been disclosed at this time.