Tuesday, May 03, 2011

eBay's PayPal unit acquires m-payments startup FigCard

eBay’s PayPal unit has acquired mobile payments startup FigCard, according to the PayPal blog.

In a post signed by Peter Chu, senior director of PayPal Mobile, the company has announced that PayPal has acquired Fig Card and has appointed two new members to the PayPal Mobile team, namely Max Metral and Hasty Granbery, founders of FigCard.

According to the blog, Fig Card allows merchants to accept mobile payments in stores by using a USB device that plugs into the cash register or PoS. In order to be able to use the service, consumers need to install the Fig app on their smartphones, thus when they setup their payment information, consumers are expected to be able to add PayPal as a payments option.

Terms of the acquisition are yet to be disclosed.

In a recent and related development , eBay has expressed plans to acquire mobile-advertising company Where, as part of the company’s acquisition strategy to connect online and in-store shopping. With the acquisition, eBay plans to integrate PayPal into the Where mobile app.

Jason Kiwaluk

Mower & Shoveller,

Ideation | Ecommerce | Fintech | Innovation | Strategy | Opinionated Agitator RevenueWire,FuturePay+PayMotion

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