Paypal (NASDAQ: PYPL) is to acquire Happy Returns, a Santa Monica, CA-based tech returns company.
The amount of the deal was not disclosed.
As part of PayPal, Happy Returns will continue offering its returns experience to retailers and shoppers. The technology and platform will help extend PayPal’s commerce platform beyond discovery and payments to the post-purchase experience. With PayPal’s support, the company will also focus on improving the platform and expanding its presence.
With the addition of PayPal’s technology, Happy Returns’ commerce platform, which includes Honey and checkout products, will be able to guide consumers along their entire commerce journey from discovery (Offers & Deals), payments (PayPal and Venmo online & in-store) to returns and exchanges.
Led by CEO David Sobie, Happy Returns provides a network that includes more than 2,600 drop-off locations, in over 1,200 unique metro areas in every state in the continental U.S. (as well as Washington, DC). Hundreds of brand partners use its returns software and reverse logistics services.