PayPal agreed to buy Hyperwallet, a Canada-based payments provider, for $400 million in cash. This acquisition support's PayPal's thesis that marketplaces will be one of its biggest growth drivers. Hyperwallet is positioned as a marketplace payment solution and counts Amazon.com's Australian business and HomeAway as customers.
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PayPal acquires Canadian payments company Hyperwallet for $400m
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“We see an explosion of marketplaces,” said Bill Ready, PayPal’s chief operating officer, in an interview. “We want to serve them with a full operating system for commerce.”
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