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PayPal to Buy iZettle for $2.2 Billion to Compete With Square
PayPal Holdings Inc. is buying Swedish small-business platform iZettle for $2.2 billion to expand in Europe and Latin America and increase its presence in brick and mortar stores.
"Small businesses increasingly want a full suite of capabilities across channels, a one-stop stop," Dan Schulman, chief executive officer of PayPal, said in an interview. "IZettle was the perfect fit in many ways."
The deal is the biggest ever for San Jose, California-based PayPal and will help it compete with Square Inc., which made a name for itself by helping small businesses and food-truck vendors conduct credit card and mobile transactions. Founded in 2010 by Jacob de Geer and Magnus Nilsson, iZettle also started out with a mobile-phone gadget for accepting credit card payments. It has since expanded into software and financing services to support small businesses.
All-cash deal = money in the (real) bank.
Also at TechCrunch.
(Score: 2) by MichaelDavidCrawford on Sunday May 20 2018, @11:37PM (1 child)
My iPhone 7 has a "Lightning Port" but no 3.5 mm earphone jack.
It came with a lightning to 3.5 mm adapter.
When I first set up my Square account they sent me a "card reader". I was very excited.
But it's just a very small piece of plastic with a 3.5 mm miniplug.
And I lost my adapter.
Therefore I live in poverty.
Yes I Have No Bananas. [gofundme.com]
(Score: 2) by Grishnakh on Monday May 21 2018, @02:35PM
That's what you get for buying into the Apple ecosystem. Talk to Apple about accepting credit cards on your phone.