PayPal has bought iZettle, a Swedish mobile payments company that sells a card-reader aimed at small businesses, for US$2.2 billion.
The move boosts PayPal's in-store presence at a time when competition in the online payments sector is increasing.
The takeover comes less than three weeks after iZettle said it would list shares in Stockholm.
At the time, the firm said the listing would help it raise money and expand.
When complete, the acquisition of iZettle will mean PayPal has an in-store presence in 11 markets in Europe and Latin America.
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