Back in February of this year, PayDivvy, a social payment platform that lets people split bills for utilities and other services and each pay their share, announced that it had been acquired and that it was no longer accepting payments on its platform. We reached out at the time and Mike Melby, the co-founder and CEO, said that he would be able to tell us more when the time was right. Today, nearly six months later and now that the deal has finally closed, the company has finally come out with buyer’s name: it’s Higher One, the publicly-traded universities and students payments and financial services company.
Higher One is not planning to reopen PayDivvy’s service as such, but it will be integrating PayDivvy’s technology into its platform and offering it to its target student customers.
“We’re excited about the foundation that PayDivvy has created to allow consumers to easily split and track their bills and share expenses,” said Whitney Stewart, the VP of product for Higher One. “We plan to incorporate these new features into our student account offering so that students can focus on the important stuff, like study and graduating while we help them get their shared expenses paid more easily.”
