News

PayPal Will Soon Be Acquiring iZettle for About $2.2 Billion

The deal will help the digital payment giant to grow faster.

Paypal

The digital payment giant PayPal has struck a deal with iZettle to acquire it for $2.2 billion. iZettle is a European mobile payment company. The move is clear indication from Paypal’s end to expand its global outreach and test waters in new territories. With ever-increasing advancements in mobile payments, the deal would help Paypal to exert its dominance rightly in the European market.

Amanda Miller, a representative of Paypal confirmed company’s biggest takeover since its birth. According to an earlier report by Sky News, PayPal was in direct talks with iZettle to settle the scores.

Dan Schulman, PayPal’s chief executive said, “I’m pleased to announce that today we signed an agreement to acquire iZettle, the leading small business commerce platform in Europe and Latin America. This is the largest acquisition in our company’s history and significantly expands our in-store presence around the world, strengthening our platform to help millions of small businesses around the world grow and thrive in an omnichannel retail environment.

The deal is expected to be sealed by the third quarter of this year. After the acquisition, Jacob de Geer will continue to lead iZettle, and will report to PayPal COO Bill Ready.

Based in Stockholm, iZettle was founded in 2010 by Jacob de Geer and Magnus Nilsson with a mission to help small businesses “succeed in a world of giants” by leveling the playing field against bigger retailers. iZettle revolutionized mobile payments with the world’s first mini chip card reader and software for mobile devices. Today, the company’s commerce solutions empower nearly half a million merchants across 12 countries and two continents to get paid, sell smarter and grow their businesses.

The combination of PayPal and iZettle will bring together iZettle’s in-store expertise, digital marketing strength and mobile point-of-sale technology with PayPal’s global scale, online and mobile payments leadership and trusted brand reputation to support merchants and consumers in more ways.

In the recent past, there has been a major surge in the companies acquired in the European region. Few of them includes Microsoft procurement of Minecraft (Video-game) maker Mojang, followed by Google’s acquisition of the Artificial Intelligence startup DeepMind, and Apple’s investment in the two of the European start-up companies, Shazam and digital-assistant maker VocalIQ. These deals will exactly not encourage European policymakers to grow native business houses and enterprises as they would have wanted in the long run.
 

Tanya <span>Editor In Chief</span>
Written By
Tanya Editor In Chief

She is a content marketer and has more than five years of experience in IoT, blockchain, Web, and mobile development. In all these years, she closely followed the app development, and now she writes about the existing and the upcoming mobile app technologies. Her essence is more like a ballet dancer.

Want To Hire The Best Service Provider?
MobileAppDaily will help you explore the best service providers depending on your vision, budget, project requirements and industry. Get in touch and create a list of best-suited companies for your needs.
News

Apple Ending 32 Bit Support For Mac, Alerting The Users From Today

4 min read  

Apple started informing the  Mac users and developers about the company’s decision to end support for the 32-bit technology. Starting from today, the company will give a pop-up alert to the users while accessing 32-bit supporting apps on MacOS. Apple is making the transition in order to&n

News

Microsoft Set to Roll-out Halo VR Experience on 17th October

4 min read  

Microsoft with 343 industries is ready to launch the Halo VR Experience for Windows Mixed Reality Headsets on 17th October. Halo Recruit is designed to create the look and feel of VR characters in famous games which can be downloaded for free on 17th October.The VR experience created by 343 indu

News

Family Zoo: An App That Drives Family Zoo

4 min read  

When it comes to new games, those which reflect an aspect of real-life are often the most fun to play. We had The Sims on PC that allowed us to send Simians off on life paths we created for them.We had Farmville on Facebook which taught us the value of advance planning when it came to growing cr

News

What Type of Instagram Engagement You Should Prioritize

4 min read  

Social Media Engagement works like a long-term relationship. To keep it running we need sheer dedication and ability to think about the future. In addition to that, we should ensure that the other party should remain happy for years to come.Social Media Engagement, defined primarily by the numbe

MAD Originals
MAD Originals

Cut to the chase content that’s credible, insightful & actionable.

Get the latest mashup of the App Industry Exclusively Inboxed

  • PRODUCTS
  • SERVICES
  • BOTH
Join our expansive network, build connections and expand your brand presence.