PayPal Holdings Inc. (NASDAQ: PYPL) said Tuesday it agreed to acquire financial-technology company Hyperwallet Systems Inc. for about $400 million, a deal that augments its offerings to businesses for managing and processing their online and mobile payments.
Hyperwallet equips individuals and small businesses with the ability to receive payments for goods and services that they sell in online marketplaces. The company can disburse payments in more than 200 countries through a variety of forms, including debit cards and transfers into bank or PayPal accounts.