PayPal to Buy iZettle for $2.2 Billion to Compete With Square

PayPal is going deeper into the brick and mortar game, this week announcing a $2.2bn acquisition (their largest ever) of Swedish based iZettle. iZettle, started in 2010, most recently announced intentions to go public having raised their last round of funding at a purported $950m valuation. In my view the acquisition reflects PayPal feeling the heat on all sides, with Apple and Google among others encroaching on their online checkout business, Square's Cash app taking market share in P2P, Adyen and Stripe pulling people off the PayPal/Braintree processing platforms and virtually no offline business to speak of compared to Square. iZettle gives PayPal a head start in Europe and LatAm, and an opportunity to try and create the holistic experience for consumers and merchants where they been lagging behind. An interesting move to be sure. 


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