PayPal is tearing through a flurry of payment company acquisitions, having snapped up four in just a five-week period this year.
Investors are bullish on the sector as it combines Silicon Valley’s technology euphoria with a mega-trend shift to digital transactions. This year has already been a record for payment company deals, with $46 billion in acquisitions (paywall) though June, according to Dealogic. That compares with $33 billion in total for last year
PayPal wants to keep up the pace, spending as much as $3 billion a year on buyouts, CEO Dan Schulman said in an interview with Handelsblatt. The shopping spree has given the San Jose, California-based company a growing number of links in the chain we use to make digital transactions. Recent acquisitions include iZettle, a Swedish mobile payments company, and Hyperwallet, which businesses can use to pay employees around the world (the deal size is only shown if it has been verified by Pitchbook):READ MORE
Investors are bullish on the sector as it combines Silicon Valley’s technology euphoria with a mega-trend shift to digital transactions. This year has already been a record for payment company deals, with $46 billion in acquisitions (paywall) though June, according to Dealogic. That compares with $33 billion in total for last year
PayPal wants to keep up the pace, spending as much as $3 billion a year on buyouts, CEO Dan Schulman said in an interview with Handelsblatt. The shopping spree has given the San Jose, California-based company a growing number of links in the chain we use to make digital transactions. Recent acquisitions include iZettle, a Swedish mobile payments company, and Hyperwallet, which businesses can use to pay employees around the world (the deal size is only shown if it has been verified by Pitchbook):READ MORE
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