PayPal buys iZettle for $2.2 billion as it gears up against Square

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PayPal Holdings Inc. is buying iZettle, a European financial-technology company that’s expected to help the online-payments giant deepen its footprint in Europe and gain more of a presence in offline commerce.

IZettle got its start enabling small businesses in Europe to accept credit-card payments through their smartphones. The company now

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