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
B2B Payments
Partnership To Boost Invoice Clearing Options
Alternative Financial Services
Financial Services Company Now Offers Invoice Factoring Services
B2B Payments
Oil and Gas Firm Inks eInvoicing Deal
News
Delta Cuts Interchange-Fixing Deal With Visa, MasterCard
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
B2B Payments
Partnership To Boost Invoice Clearing Options
Alternative Financial Services
Financial Services Company Now Offers Invoice Factoring Services
B2B Payments
Oil and Gas Firm Inks eInvoicing Deal
News
Delta Cuts Interchange-Fixing Deal With Visa, MasterCard
View All Articles ››