Bill Ready, SVP and Head of Merchant and Next Gen Commerce, PayPal

Last month, we announced that we had entered into an agreement to acquire Paydiant, an innovative company focused on reinventing mobile payments. We’ve now made our way through all of the paperwork and regulatory steps necessary to make Paydiant an official part of the PayPal family.

I’m thrilled to welcome the Paydiant team to PayPal!

In case you didn’t see the news around our intent to acquire Paydiant, they’re the company that provides the mobile wallet platform for MCX, whose members include many of the world’s most loved retailers. Paydiant has also helped great brands like Subway, Harris Teeter, Capital One and many others build mobile payments, offers and loyalty into their own mobile applications. All of these merchants will now enjoy the advantage of having access to PayPal’s deep expertise in the mobile payments space, enormous customer base, best-in-class risk management, customer support, open payments architecture and global reach.

PayPal is always looking forward, and we acquired Paydiant to help deepen our partnerships with our merchant customers. By bringing Paydiant into the PayPal family, we speed up our ability to offer merchants great ways to create their own branded wallets. We believe this will accelerate mobile-in-store payments for these merchants and drive consumer engagement through loyalty, offers and the prioritization of preferred payment types, such as store branded credit cards and gift cards. Similar to PayPal, Paydiant’s technology agnostic approach means that merchants can use the mobile payment technology that best suits their business, whether that is QR code or NFC, and they can do so across major operating systems and platforms.

We truly believe that a combined PayPal and Paydiant will enable us to push the boundaries of innovation in mobile payments. The best is yet to come!