Why PayPal bought iZettle for $2.2 billion

PayPal, a company worth almost $94 billion, will be used by major retailers around the entire world, including Walmart in addition to also Best Buy. IZettle’s focus, on the different hand, will be more on tiny-to-medium-sized firms.

E-commerce giant eBay dealt PayPal a blow earlier This particular year when the idea decided the idea could drop PayPal as its primary payments provider. The online shopping site chose a European start-up of its own, Adyen, to replace PayPal. Adyen will be also reportedly seeking to list its shares.

PayPal’s Ready said that will the investment in iZettle could give PayPal more of a “technical” presence in Europe.

“Europe contains many of our most important markets, we have huge presence in Europe already via a commercial perspective,” he said. “yet one of the things that will we think will be fantastic will be that will his will be going to create a European center of excellence for us on a technical perspective.”

He added: “We’ll currently have an amazing team of engineers in addition to also product development in addition to also builders here in Stockholm to raise our presence in Europe via a technical perspective in addition to also help us build out many more capabilities.”

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