PayPal buys Swedish fintech company iZettle

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PayPal has announced that it is to buy the mobile payment company iZettle. The announcement came as something of a surprise, as less than two weeks ago iZettle had said that it planned to go public. iZettle is a Swedish fintech company whose mobile card readers have proved popular with small businesses, as has its ecommerce platform. The $2.2 billion purchase is PayPal’s biggest acquisition to date. The purchase will give PayPal the opportunity to expand into the retail payment terminals business in international markets, thanks to iZettle’s card readers. The company currently operates in 11 countries in Europe and…

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