PayPal takes on Square with massive $2.2B iZettle purchase

PayPal iZettle Purchase

PayPal just confirmed that it’s buying Swedish payments startup iZettle for $2.2 billion in an all-cash transaction, which would make it PayPal’s biggest purchase ever. The company paid $890 million for Xoom a few years ago, and $800 million for Venmo back in 2013, when it still was a part of eBay.

iZettle’s main business is similar to Square’s. The company provides a card-reading dongle that can be used with smartphones and tablets, an appealing card payment option for small businesses that might otherwise avoid them due to higher costs.

Continue reading...

BGR Top Deals:

  1. Amazon has the SNES Classic Edition in stock if you hurry!
  2. This $45 console looks like the SNES Classic, but it’s so much better

Trending Right Now:

  1. The most mysterious Android phone of the year is coming to Verizon and AT&T
  2. Google might’ve just accidentally confirmed the Pixel 3’s design
  3. AT&T is making streaming as complicated as cable

PayPal takes on Square with massive $2.2B iZettle purchase originally appeared on BGR.com on Fri, 18 May 2018 at 06:50:40 EDT. Please see our terms for use of feeds.

You may also like...