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PayPal CEO has announced the company plans to spend as much as $3bn per year on buyouts, with early evidence in its recent acquisitions of iZettle and Hyperwallet. This year has already seen $46bn in acquisitions in the payment sector.
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These trends have been a powerful tailwind for fintech upstarts. Shares of Dutch payment-processor Adyen jumped more than 90% on their first day of trading, while those of Square have more than doubled in the past year. PayPal’s stock has soared more than 50% during that span.
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