eBay's PayPal buys Fig Card

eBay's PayPal buys Fig Card

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eBay's PayPal had bought mobile payments startup Fig Card. It is the second acquisition by eBay in two weeks but the terms of acquisition were not disclosed.

The Boston based Fig Card was founded in early 2010 by Hasty Granbery and Max Metral. Fig leverages existing hardware in modern smart phones in a non-intuitive way to create a system that checks off a number of boxes towards solving merchant and customer adoption challenges. All the consumer needs is the Fig app on his or her smart phone. The connection with PayPal is that when consumers setup their payment information, they could add PayPal as a payments option.

Mobile and online to offline is a big part of eBay's strategy both for its marketplace and PayPal business. The company just bought location and advertising company "Where", which will be housed within PayPal. For all the local deals of Where, PayPal will be incorporated into its mobile applications.

Founded in 1995, eBay is now a multi-billion dollar business which spread over thirty countires. eBay is an American Internet company that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide.

eBay products and companies include eBay Marketplace, Media Marketplace, Skype, PayPal, half.com, MicroPlace, Shopping.com, Rent.com, Stubhub and various online classifieds.

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