Online payment firm PayPal has purchased mobile payment startup Modest for an undisclosed sum.
The acquisition, which is PayPal’s first acquisition following its formal split up from eBay, will allow the company to provide merchants a complete commerce solution to help them add contextual commerce channels to the ways that they sell to their customers.
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As part of the deal, modest founders Harper Reed, Dylan Richard and their team will join Braintree team at PayPal and will be based in Chicago office.
Following the transaction, Modest will become a part of PayPal’s Braintree business.
Braintree general manager and CTO Juan Benitez told Chicago Tribune that the Modest team will allow Braintree to expand its platform to serve merchants better on mobile and in social media contexts.
Founded in 2012, Modest helps merchants either build their own apps, integrate their shop into other apps, or incorporate buy buttons into channel-based marketing efforts.
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By GlobalDataPayPal merchant and next-generation commerce global head and senior vice president Bill Ready said: "For consumers it will mean seamless, simpler, and safer ways to buy the things they want, anywhere they discover them."
