PayPal buys money-saving service Honey for $ 4 billion

That's because PayPal has snapped Honey, the popular money-saving service, into a deal worth $ 4 billion. It is PayPal's largest acquisition ever and will see both companies try to "simplify and customize shopping experiences for consumers" while helping more than 30,000 merchants get these customers through their online checkout.

Over 1[ads1]7 million people are already using a Honey app or browser extension. Once installed, Honey tracks price changes on retailer's websites, but can also automatically enter coupon codes when a user enters an online checkout. If no coupons are available, Honey can also offer loyalty points that can be redeemed as gift vouchers.

Given that PayPal already has 24 million online stores on its books, the latest purchase will allow consumers to customize and personalize experiences for the moment they arrive at a website. With companies like Apple, Google and Facebook moving further into the payment area and catching the attention of buyers at the start of the visit, rather those helping them pay for their goods in the end, PayPal can provide the springboard it needs to be a lot more than just a payment company.

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