PayPal’s presence on the internet is huge where many online retailers offer it as an option for its customers to use when paying for purchases. However in the real world, PayPal has almost zero presence in physical stores, thus missing out on all the potential transaction fees that are happening every second.
However that could change soon, thanks to PayPal’s recent acquisition of a Swedish startup called iZettle. For those unfamiliar with iZettle, not to worry since the company large operates within Europe and Latin America where they are essentially Square’s direct competition. With PayPal acquiring the company, it brings them one step closer to launching their services in physical retail stores.
According to PayPal’s Chief Operating Officer Bill Ready, he told CNBC, “This phenomenon of in-store payments via mobile for small businesses, it’s a global phenomenon and there have been many players in the space. Most of them though have been constrained to one or only a few countries.”
With the acquisition, Ready claims that PayPal is looking to expand iZettle’s availability internationally, although where and when exactly is anyone’s guess. “What I think is quite distinctive about this team is their ability to go serve small businesses on a multinational basis.” Hopefully this means that the next time you walk into a store, you will have the option of using PayPal as one of the payment options.
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