Seeking to extend its global reach, PayPal has reached a deal to buy iZettle for about USD 2.2bn. iZettle becomes PayPal’s biggest-ever transaction. For some context, in 2015 PayPal acquired money-transfer startup Xoom for USD 890m. iZettle has operations in 12 markets, including several in northern Europe and Mexico in Latin America, where PayPal doesn’t have an extensive offline presence.
