PayPal adds to payments stable, Amazon may follow
eBay unit buys StackMob to accelerate development of m-payments services, Amazon linked to GoPago
Published: 18 December, 2013
One M&A trend which is unlikely to dissipate in 2014 is in mobile payments, and nearing the end of this year, Paypal and Amazon are reported to be adding to their arsenals.
Paypal, the eBay subsidiary, has made a string of acquisitions to support its parent's strategy of creating a broad m-commerce platform, bringing together various technologies for online, mobile and physical payments and transactions. Its latest purchase is StackMob, whose technology eases development of mobile applications. Its Mbaas (mobile back end as a service) offering will speed up the creation, testing and deployment of m-payments services, said Paypal CTO John Barrese in a blog post.
In May 2011, StackMob raised $7.5m from Trinity Ventures, Harrison Metal Capital, and Baseline Ventures, and was reported also to have been in acquisition talks with Yahoo. Terms of the new deal were not disclosed. Its 18 employees will join PayPal and move from San Francisco to the larger firm's San Jose headquarters.
"While projects underway at PayPal have already accelerated our ability to deliver great products to our customers, we believe that with the addition of the talented team from StackMob, we'll move even faster in creating, testing and deploying products that aim to transform payments for customers around the world," wrote Barrese.
StackMob CEO Ty Amell added that his firm would "maintain its focus on developers and extending innovative mobile technologies that aim to allow consumers to access the rich capabilities of the PayPal global network. We believe that our work at PayPal will make it easier for developers to create seamless payment solutions that span online, mobile, and in-store experiences."
Meanwhile, there are reports in Italian newspapers that Amazon is close to acquiring payments start-up GoPago. The firm's CTO, Vincenzo di Nicola, told reporters that his firm had already been bought, but neither he nor Amazon has said anything further.