CMA clears PayPal acquisition of iZettle

The CMA today formally cleared PayPal’s acquisition of iZettle after a Phase 2 investigation. Both firms sell Point of Sale (POS) devices which link up with a user’s smart phone to take payment. The CMA raised detailed questions about the likely development of PayPal’s product but for the transaction, but ultimately concluded that the market was dynamic and fast-moving and that competition would remain from both traditional POS providers such as Barclays and WorldPay and new entrants such as SumUp and Square.

A CRA team including Cristina Caffarra, Oliver Latham, Simon Chisholm, Sam Marden and Sam Lynch advised PayPal and iZettle on the transaction.