PayPal has gone ahead with its first acquisition since becoming its own independent company this summer. It has purchased Modest, a mobile commerce startup, for an undisclosed amount.
PayPal plans to fold Modest into Braintree, its payment processing line of business. At this time there are few specifics available in terms of how exactly that’s going to unfold, but industry analysts speculate that a big draw in the acquisition is Modest’s use of buy buttons, which allows users to make immediate purchases through a single web page without having to be redirected to another payment processing service. Buy buttons provide an obvious boost to the user experience, something PayPal will be keen to enhance as it attempts to become the world’s go-to platform for electronic commerce – a broader effort of which the Modest purchase is just one part; PayPal’s other recent acquisition, undertaken just before its split from eBay, shored up its presence in the money transfer market.
That ambition also extends to m-commerce, of course, and PayPal has recently been making advances into that area too, most recently in efforts to launch mPayments in Subway sandwich shops, and also its upgraded PayPal Here card reader, which now supports the NFC technology needed for most mPayments.