Paydiant, provider to merchants of a white-label mobile wallet platform, will be acquired by PayPal for about $280 million in cash. The transaction is expected to close next month. Paydiant, which opened for business in 2010, received a total of $42 million in venture funding from firms including Northbridge Venture Partners, General Catalyst, and Stage1 Ventures.
Customers of Paydiant include FIS, Merchant Customer Exchange (MCX, CurrentC), Pulse, Vantiv, Subway, Diebold, NCR, Barclays, and Capital One. All use the QR code feature in Paydiant’s wallet.
Barclays and Capital One offer i...
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