Paydiant Explained

Paydiant, Inc.
Type:	Subsidiary
Founded:	2010
Parent:	PayPal
Location:	275 Grove St, Auburndale, Massachusetts
Location Country:	United States

Paydiant, Inc. is a PayPal-owned financial services company based in Auburndale, Massachusetts, which was incorporated in 2010. Paydiant provides cloud-based services for merchants, banks, and point-of-sale and ATM providers.

History

In 2011, Paydiant raised $7.6 million funding from North Bridge Venture Partners and General Catalyst Partners.^[1]

Paydiant received a funding of $12 million and $15 million in 2012 and 2013 respectively.^{[2] [3] [4]}

Paydiant has provided mobile wallet platforms for MCX. In 2015, PayPal acquired Paydiant in a $280 million deal.^{[5] [6]}

Notes and References

1. Web site: Paydiant Throws Its Hat Into The Mobile Payments Ring, Raises $7.6 Million. Wauters. Robin. TechCrunch. 2016-02-29.
2. Web site: Paydiant Gets $12M More To Build Out Its White-Label Mobile Payments API. Lunden. Ingrid. TechCrunch. 2016-02-29.
3. Web site: Sec form d. www.sec.gov. 2016-02-29.
4. Web site: Paydiant Closes $15M Funding. 2013-09-10. FinSMEs. 2016-02-29.
5. Web site: PayPal to pay $280M for Apple Pay rival Paydiant. CNBC. 2016-02-29.
6. Web site: PayPal to Pay $280 Million for Paydiant to Help Retailers Compete With Apple Pay. Re/code. 2016-02-29.