iZettle is a Sweden-based fintech company. It rolled out a solution for mobile payments by launching the mini chip card reader and software for mobile devices, and its commerce platform for small businesses in Europe and Latin America provides tools for growing a business.
This transaction builds on PayPal’s set of products and services for small businesses and is intended to accelerate growth and deliver an upgraded commerce experience for merchants.
Prior to the closing of the acquisition, the UK Competition and Markets Authority (CMA) initiated a review of the transaction. PayPal and iZettle brands and operations will be held separate as agreed with the CMA, pending completion of the CMA’s review.
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