Reports surfaced earlier today speculating that PayPal is interested in acquiring mobile payments company Square. Claims suggested PayPal’s new CEO, Dan Schulman, is looking at acquisition possibilities in the wake of the looming eBay split and in “early stage” talks with Square. Only it appears Square doesn’t appear to know anything about it.
Square CEO Jack Dorsey tweeted “FALSE,” with a link to the original Bank Innovations story. While this may just be Dorsey trying to cover something up, there are others saying these claims are false as well. Keith Rabois, who was one of the PayPal co-founders and the former Square COO, also said the report wasn’t true: “…don't believe what you read. Every assertion re Square in that article is false.”
Splitting off with eBay allows PayPal to focus on its strengths in a more manageable fashion, and while that may lead to interest in new acquisitions, it does’t sound like Square is on the table just yet. However, as Bank Innovations points out, Square denied reports pertaining to Google acquisition talks earlier this year, which were later confirmed as true.