pixelfit / Getty Images


PayPal acquires app Honey to help launch personalized shopping experiences

The $4B acquisition will increase PayPal's influence across online shopping and payments


PayPal’s acquisition of the popular online savings app Honey could lead to targeted promotions and personalized shopping experiences.

The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.

PayPal has acquired popular deal-finding tool Honey for $4 billion in its largest acquisition to date. The deal promises to integrate Honey’s product discovery, price tracking and savings functionality into the PayPal and Venmo payment experiences.

PayPal’s acquisition of Honey means it will no longer simply be competing with credit cards and apps like Apple Pay at checkout, but will play a key role in the early stages of the online shopping process, as customers research products, weigh options and search for deals.

See related: What to buy every month of the year – and how to save using card rewards

PayPal president and CEO Dan Schulman said the Honey partnership will “simplify the consumer shopping experience, while at the same time making it more affordable and rewarding.”

PayPal, which already boasts nearly 300 million users and 24 million merchant partners, also hopes the acquisition will allow its merchant partners to leverage Honey to offer customers targeted promotions and personalized shopping experiences.

“Combining PayPal’s assets and reach with our technology, we can build powerful new online shopping experiences for consumers and merchants,” said Honey co-founder Ryan Hudson in a statement. “We’ll have the ability to help millions of retailers efficiently reach consumers with offers that deliver more and more value to Honey members.”

Founded in 2012, Honey is a browser add-on and mobile app that tracks sales and promo codes across approximately 30,000 online retailers, ranging from fashion and technology to travel and food delivery. According to Honey, its 17 million members have saved over $1 billion to date using the tool.

Similar to tools like Wikibuy – which itself was acquired by Capital One in 2018 – Honey tries all eligible promo codes at checkout and automatically applies the one that saves you the most money. You can also get price-drop alerts with Honey’s Droplist tool and earn rewards through its Honey Gold program, which offers “gold” for using Honey while shopping that can be redeemed for gift cards.

Paypal-Honey partnership

The Honey acquisition is the latest in a series of moves designed to widen PayPal’s influence across the online shopping and payment spaces. In addition to a rewards credit card, the PayPal Cash Back Mastercard, PayPal offers PayPal Credit, which allows users to pay for larger online purchases over time. The company also recently launched a Venmo debit card and plans to release a Venmo credit card next year.

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

What’s up next?

In Shopping

6 less obvious reasons to use credit cards this holiday season

You already know that credit card rewards can help you save a bundle on your holiday spending. But many cards also offer perks such as extended warranties and free returns and security features that can save you time and stress.

See more stories
Credit Card Rate Report Updated: May 27th, 2020
Cash Back

Questions or comments?

Contact us

Editorial corrections policies

Learn more

Join the Discussion

We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

The editorial content on is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company’s business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.