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Today, I am excited to announce that we agreed to acquire Paydiant... They're the folks that have helped companies like Subway, Harris Teeter, Capital One build mobile payments, offers and loyalty into their own mobile applications as well as provide the mobile wallet platform for many of the world's largest retailers including Walmart, Target, Sears, Wendy's, Exxon and CVS." Dan Schulman, PayPal President and CEO Designee.

Deal comes ahead of EBay’s split and amid competition from Apple, Google
The Wall Street Journal
BylineL Greg Bensinger

EBay Inc. ’s PayPal payments unit is buying mobile wallet firm Paydiant as competition for in-store payments grows from rivals Apple Inc. and Google Inc.

The deal, for an undisclosed sum, will give PayPal instant access to a group of customers using Paydiant’s technology, including Subway and the consortium of retailers known as the Merchant Customer Exchange. That consortium—which includes Target Corp. , Wal-Mart Stores Inc. and Sears Holding Corp. —has been developing an in-store payments app known as CurrentC that is meant to be an answer to Apple’s Apple Pay system.

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