UK Competition & Markets Authority Approves PayPal’s Completed Acquisition of iZettle
June 12 2019 - 06:15AM
Business Wire
PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it
welcomes the United Kingdom Competition and Markets Authority's
(CMA) decision to provide final and unconditional approval of the
company’s previously completed acquisition
of iZettle. PayPal will now begin to
integrate iZettle’s products and teams in the UK
and around the globe, significantly strengthening PayPal’s
in-store presence and platform.
"I am pleased our acquisition of iZettle has been
unconditionally approved," said Dan Schulman, president and CEO,
PayPal. “We believe there is huge potential in giving millions of
small businesses access to affordable tools to run their business
and look forward to working together with
the iZettle team to make this a reality.”
The CMA has published its view on its website that the
acquisition will not lead to competition concerns.
About PayPal
Fueled by a fundamental belief that having access to financial
services creates opportunity, PayPal Holdings, Inc. (NASDAQ: PYPL)
is committed to democratizing financial services and
empowering people and businesses to join and thrive in the global
economy. Our open digital payments platform gives PayPal’s 277
million active account holders the confidence to connect and
transact in new and powerful ways, whether they are online, on a
mobile device, in an app, or in person. Through a combination of
technological innovation and strategic partnerships, PayPal creates
better ways to manage and move money, and offers choice and
flexibility when sending payments, paying or getting paid.
Available in more than 200 markets around the world, the PayPal
platform, including Braintree,
Venmo, Xoom and iZettle, enables consumers and
merchants to receive money in more than 100 currencies, withdraw
funds in 56 currencies and hold balances in their PayPal accounts
in 25 currencies. For more information on PayPal, visit
https://www.paypal.com/about. For PayPal Holdings, Inc. financial
information, visit https://investor.paypal-corp.com.
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PayPal Holdings, Inc.PayPal Investor RelationsGabrielle
Rabinovitchgrabinovitch@paypal.com
PayPal Media RelationsJosh Criscoe, +1
646-667-5065jcriscoe@paypal.com
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