Modest helps merchants create mobile apps for their stores. Modest will be part of PayPal’s Braintree business, which manages and processes payments for companies like ride sharing company Uber.
One of the things that drew PayPal to buy Modest’s business was its bet on buy buttons, which let people buy items directly from apps without having the leave to another web page. Modest lets retailers embed buy buttons within their own apps, and other areas, including e-mails. Many social networks, including Facebook, Pinterest, and Twitter are embedding buy buttons on their websites that let people to buy items they see on the networks.
This isn’t PayPal’s first acquisition for the summer of 2015. In July, prior to splitting from eBay, the payments giant bought money transfer company Xoom for USD 890 million.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now