To Our Customers and Partners,
Paydiant is excited to announce that we have entered into an agreement to be acquired by PayPal. This is obviously a very important announcement for Paydiant, PayPal, our customers and partners, our employees, and we believe, the industry at large.
When Paydiant was founded in 2010, we had a simple idea that retailers and banks would want to be able to build mobile payments, offers and loyalty into their own apps. We knew that hundreds of startups and some of the biggest companies in the world would launch mobile wallets, but we also knew that retailers and banks would want a choice - a choice that would let them control the user experience, protect their customer’s data and preserve their own brand. We couldn’t be more grateful to the customers and partners that have shared this vision with us.
By joining the PayPal family, Paydiant will be able to scale our white label wallet platform and offer value-added benefits to our customers that only a combination of our two companies can provide – world-class risk management, 24 x 7 customer support, loyalty programs and mobile offers, an open payments architecture that supports all mobile operating systems and global reach into more than 200 markets and 162 million active digital wallets. PayPal’s resources will enable us to push the boundaries of innovation for our retail and banking customers.
Although the acquisition is still subject to certain customary closing conditions, including regulatory approvals, we expect the acquisition to close in late March or April. In the coming weeks, we’re looking forward to sharing more details with all of our customers, partners and prospects, but we wanted to use this space to share the highlights and most of all to say, “thank you.” Thank you for placing your trust in us.
We look forward to continuing our work of delivering innovative mobile payment and commerce experiences to you and your customers.
The Paydiant Team