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.
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.