PayPal recently purchased a returns startup company named Happy Returns in a move signifying PayPal's intentions to be more involved in post-purchase activities, no acquisition price was publicly released.
For PayPal, the deal will allow the company to be more involved in the consumption cycle, where they are connected with consumers from purchase to return. For Happy Returns, the deal will allow the company to improve its platform and reach new customers with PayPal's capacity. The acquisition follows a year of extreme growth for e-commerce businesses due to the COVID-19 pandemic.
Happy Returns also focuses on bringing sustainability into e-commerce returns, by leveraging a box-free in-person experience. To date, the startup has a network o over 2,600 drop-off locations across the United States.
Image Credit: PayPal/Happy Returns