PayPal completes acquisition of Hyperwallet

Tuesday 27 November 2018 14:27 CET | News

PayPal has announced that it has completed its acquisition of global payout platform Hyperwallet for approximately USD 400 million.

Hyperwallet’s payout platform enables localised, multi-currency distribution to anywhere in the world. Their payout solutions are available as an SaaS or through REST API integration, and include systems monitoring, maintenance management, payee support tools, and KYC/AML compliance.

This transaction will streamline PayPal’s payout capabilities and upgrade PayPal’s ability to provide an integrated suite of payment solutions to ecommerce platforms and marketplaces around the world.

PayPal first announced its plans to acquire Hyperwallet back in June 2018, soon after it had parted with USD 2.2 billion to purchase Swedish ecommerce platform iZettle in May, same year.

For more information about Hyperwallet, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

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Keywords: PayPal, acquisition, payout platform, hyperWALLET, SaaS, API, online payments
Countries: World