PayPal Buys Mobile App Developer StackMob

PayPal announced on Tuesday that it has purchased San Francisco-based mobile application developer StackMob as part of of a move that bolsters its mobile and in-store presence, The Wall Street Journal reports. The terms of the deal were not disclosed.

The media outlet notes that PayPal could use StackMob’s engineering team to develop a wide array of payment apps with varying functionalities.

“With the addition of the talented team from StackMob, we’ll move even faster in creating, testing and deploying products that aim to transform payments,” PayPal’s chief technology officer, James Barrese, said, according to the news source.

For more insight into how PayPal’s StackMob purchase could play into the company’s larger mobile strategy, read our full interview with Anuj Nayar on its most recent app update here.

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