You are using an older browser version. Please use a supported version for the best MSN experience.

Mobile payment app PaidEasy buys Happy, first winner of the Make It In Brooklyn pitch competition

ICE Graveyard 2/08/2016 Jonathan Shieber

Just over a year after it won the inaugural Make It In Brooklyn pitch competition (and the attendant $50,000 cash prize that went with it) the Brooklyn-based startup Happy has been acquired by PaidEasy, a New York-based mobile payment app for restaurants.

For PaidEasy, which is lining up big restaurants in Miami, New York, and expanding into other cities in North America, the Happy acquisition adds an element of discovery to its chief executive Gregg Jackowitz.

Specific terms of the acquisition were not disclosed but the deal was a combination of cash and stock.

The restaurant payments space has become a tightly contested one, but no clear winner has yet to emerge.

Cover, which was acquired by the UK-based mobile reservations, discovery, and payments app, Velocity, had some early traction, while OpenTable competitor Reserve acquired the payment processor Dash in its bid to gobble up payment real-estate and TabbedOut is doing the same. Meanwhile startups like Salido attack payments from the restaurant table.

Long story short, it’s a competitive landscape for mobile payments in restaurants and bars. However, the combined strengths of the two companies mean that there’s a better chance for the new and improved PaidEasy to make a splash in the market.

image beaconimage beaconimage beacon