TECH

PayPal pays $ 400 million to acquire Hyperwallet

PayPal is about to expand its services. The company recently acquired Hyperwallet, which has developed a payment system so that e-commerce platforms can easily make transfers to independent vendors and other companies. 400 million dollars was the amount involved in the business.Hyperwallet explains that this system can be used for various purposes, but stresses that ease and speed are two of its greatest advantages. For some businesses, this can be an automated way of ensuring an immediate payment to couriers delivering, for others, the program can serve to pay royalties to artists who make content available on a given platform.In addition, Hyperwallet also allows the instant conversion of the currencies involved in the payments and PayPal has already guaranteed that it will offer all these advantages in its platform, in all markets where it is available.PayPal admits that this acquisition is part of its expansion strategy, which is expected to help the company become more competitive in the world of digital financial alternatives to traditional banks.The deal is expected to close in the last quarter of this year. Note that the agreement is subject to approval by the competent authorities.



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