PayPal Acquires Hyperwallet with Focus on Ecommerce Businesses

PayPal (NASDAQ: PYPL) recently completed the acquisition of Vancouver-based global payout platform Hyperwallet Systems for approximately $400 million USD. The giant digital payments company says the acquisition of Hyperwallet will help strengthen PayPal’s payout capabilities with enhanced ability to provide an integrated suite of payment solutions for ecommerce platforms and marketplaces around the world. “By acquiring Hyperwallet, we will strengthen our ability to provide an integrated end-to-end solution to help ecommerce platforms and marketplaces — however large or small  leverage world-class payout capabilities in over 200 markets,” PayPal CEO Bill Ready said in a statement back in June. According to Ready, the acquisition of Hyperwallet Systems builds on PayPal’s aspiration to serve the global digital economy. In announcing closing of the acquisition, Ready noted that PayPal is eager to work with Hyperwallet Systems towards better serving the digital economy: