Dan Schulman, the Paypal CEO, said consumers want to be able to buy where, when and how they want Alex Wong/Getty ImagesA Swedish start-up whose mini credit card reader turns smartphones and tablets into mobile payment registers is to be bought by Paypal for $2.2 billion. The American digital payments giant is taking over iZettle in a deal that will boost its ability to offer comprehensive payment services for small and medium-sized businesses. The Stockholm-based financial technology company created the world’s first mini chip card reader, which is linked wirelessly to a smartphone or tablet to allow small businesses to take credit and debit card payments from customers. The business was founded in 2010 by Jacob de Geer and Magnus Nilsson. From its headquarters, iZettle’s 500 employees serve about 500,000 customers across 12 countries, mainly in Europe.

Source: The Times May 18, 2018 16:07 UTC