Several weeks ago we heard the mobile payments company Braintree was in talks with a small number of companies as it sought a $1 billion acquisition. Among them were players like Google and Square, but the Wall Street Journal reports today it’s actually PayPal that is nearing a final deal to acquire the startup.
Recently, Fast Company senior writer Austin Carr wrote about what PayPal stood to gain from a Braintree acquisition, namely, the “cool” factor it’s been lacking in recent years even as it continues to dominate the payment processing space over smaller players like Square and Stripe. Acquiring Braintree and its subsidiary Venmo, a popular mobile app for sending and receiving payments from friends for free, would likely help PayPal regain some of the spotlight, particularly in mobile payments.
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