8/24/2023 0 Comments Revolve happyreturns con![]() It relies on reusable totes instead of cardboard, to transport returns. The company also highlights a lower environmental impact. Happy Returns has roughly 2,600 drop-off locations where shoppers can return products for an immediate refund or exchange. During first-quarter earnings last week, Schulman highlighted plans to roll out a "next-generation digital wallet" this year, which he described as "all-in-one, personalized app" that will "provide increasingly customized and unique shopping, financial services, and payments experiences." ![]() ![]() The pandemic-induced boom in online shopping helped drive record payment volume and revenue for PayPal in recent quarters. The deal also fits into CEO Dan Schulman's recent, public focus on PayPal's "commerce platform." Schulman underlined online shopping as a key leg of growth during an investor day earlier this year. The company, founded by Max Levchin and Peter Thiel, works with roughly 31 million businesses that will eventually have access to the in-person returns network. Eventually, he expects the product to incentivize more merchants to sign up for PayPal products. The acquisition will help solve sometimes messy logistics of returning and shipping items for merchants, and help drive foot traffic to those businesses as the economy reopens, Keller said. PayPal had been an early venture investor in Happy Returns. PayPal also announced a deal in March to buy cryptocurrency security company, Curv, for $200 million. Thursday's deal follows PayPal's $4 billion acquisition of Honey, a browser extension that lets consumers find and use coupons while shopping online, in late 2019. "For retailers, we're providing more comprehensive services beyond payments." "The post-purchase experience is something we've been looking into, since it's such a pain point - people want to shop online and return in store, and vice versa," Frank Keller, senior vice president of consumer in-store and digital commerce at PayPal, told CNBC in a phone interview. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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