PayPal to buy rewards platform Honey Science for $4 billion

FAN Editor
FILE PHOTO: The German headquarters of PayPal is pictured at Europarc Dreilinden business park south of Berlin in Kleinmachnow
FILE PHOTO: The German headquarters of the electronic payments division PayPal is pictured at Europarc Dreilinden business park south of Berlin in Kleinmachnow, Germany, August 6, 2019. REUTERS/Fabrizio Bensch/File Photo

November 20, 2019

(Reuters) – Payment processor PayPal Holdings Inc <PYPL.O> said on Wednesday it would buy privately held shopping and rewards platform Honey Science Corp for about $4 billion.

Honey has nearly 17 million monthly active users and notifies consumers about the lowest available price as well as a drop in prices.

(Reporting by Abhishek Manikandan in Bengaluru; Editing by Arun Koyyur)

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