Paypal is gaining ground after announcing its $2.2 billion acquisition of a European competitor of Square (PYPL, SQ)

Paypal announced it is acquiring iZettle, a European competitor of Square, for $2.2 billion.  The $2.2 billion deal is Paypal’s largest acquisition to date and would put the company in the field of physical payments.  Watch Paypal trade in real-time here.

Paypal is up almost 2% in pre-market trading after announcing it will pay $2.2 billion to acquire iZettle. The Stockholm-based payments company offers mini credit card readers that allow smartphones and tablets to take payments, making

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