Intuit Purchases Payvment’s Team, Tech And Patents

What's Next In Payments®
5:02 PM EDT January 28th, 2013

Intuit has purchased Facebook eCommerce platform Payvment and will acquire its employees, technology and patents, reports TechCrunch. Payvment previously announced that it was shutting down its social commerce platform and its companion shopping site Lish.com as of March 1, 2013.

“Intuit has acquired a team of highly skilled developers who will be of great value to the social teams at Intuit,” the company said in a statement.

As reported earlier, Ecwid will acquire Payvment’s 200,000 merchants. TechCrunch speculates that this could be because Intuit wants Payvment’s “raw materials” to work with, but did not want to strand hundreds of thousands of online merchants in the process.

Read more here.

Topics:
Comments
Also by This Author
What's Hot
News
Amazon’s Hip To Be (Like) Square
Acquiring
Rival Baby eCommerce Sites Merge
Europe
Have UK Mobile Payments Taken A Global Lead?
Merchant Innovation
WeChat Launches In-App Commerce
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Alternative Financial Services
Sears’ Big Data Omnichannel Adventure
Company Spotlight
Who’s The Most Digital Payments Ready?
News
Amazon’s Hip To Be (Like) Square
Commentary
Can Visa Checkout Ignite?
View All Articles ››