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HomeeCommerce NewsPayPal’s Honey acquisition reportedly has the potential to change e-commerce

PayPal’s Honey acquisition reportedly has the potential to change e-commerce

PayPal-Honey

You must be aware of the report we published earlier last week regarding PayPal and Honey. If you are not then we must remind you that PayPal has agreed to acquire Honey which is a deal-finding extension and app company for a sum of $4 billion. Also, the deal is believed to be completed in an all-cash affair only and no stocks are involved. Now, we were thinking about what could be the reason behind PayPal’s acquisition of Honey apart from their submission that they want to get involved more in the purchasing decision of a buyer than just being on the checkout page.

Now, a new report from VentureBeat details about exactly what we were thinking. But this time, the publication goes one step further to say that there is a potential in the deal between Honey and PayPal to reshape the future of e-commerce. As far as the deal between PayPal and Honey is concerned, it is found out that the deal-finding extension Honey currently has a whopping 17 million active users who are looking for deals day in and day out. Also, Honey has users from 30,000 different merchant websites which means that the users are not just limited to Amazon, Walmart, and other big stores.

The report mentions that “it’s a magical move” which is saying a lot but it might turn out to be true if handled correctly. With the help of Honey, the report mentions that PayPal can understand the intent and behavior of a buyer which might help them understand the gaining customers better. Also, PayPal can charge its users extra money if they want to use Honey extension for finding deals which means that the Honey customers will remain separate while there is a potential of huge user growth as well. The report also mentions that “Amazon isn’t invincible” which is because it currently is dominating the markets while this PayPal-Honey deal could change that.

Sonali Minocha
Author: Sonali Minocha

Passionate about Innovation and Technology. I love to contribute to high impact projects/ products. I have co-created/contributed to technology solutions touching 100 million ++ humans. I am also fond of e-commerce & PIM solutions. As editor of eCommerceNext, I am bringing news, events, opinions, experts, reviews from the world of e-commerce and PIM Besides technology and innovation, I am usually involved in setting up and running complex operations and human capital systems. I have been grateful to be acknowledged by getting “Great Places to Work – Top 100”, “Great Places to Work – Top 50”, “Great Place to Work – Top 5” awards for my company. I am a people and relationship person and bring in a balance of empathy and realistic solutions. I thrive on building processes and building control systems. I led the team that achieved CMMI Level 3. I have managed large teams and in-turn managed projects worth 15-20 Million (Annually) Want me to cover an interesting story around eCommerce or PIM? Reach me on [email protected]

Author

Passionate about Innovation and Technology. I love to contribute to high impact projects/ products. I have co-created/contributed to technology solutions touching 100 million ++ humans. I am also fond of e-commerce & PIM solutions. As editor of eCommerceNext, I am bringing news, events, opinions, experts, reviews from the world of e-commerce and PIMBesides technology and innovation, I am usually involved in setting up and running complex operations and human capital systems. I have been grateful to be acknowledged by getting “Great Places to Work – Top 100”, “Great Places to Work – Top 50”, “Great Place to Work – Top 5” awards for my company.I am a people and relationship person and bring in a balance of empathy and realistic solutions. I thrive on building processes and building control systems. I led the team that achieved CMMI Level 3. I have managed large teams and in-turn managed projects worth 15-20 Million (Annually)Want me to cover an interesting story around eCommerce or PIM? Reach me on [email protected]