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PayPal's partnership with MasterCard follows a similar deal with
Visa Inc in July as the company looks to expand its payments
network.
The partnership with MasterCard was first reported by the Wall
Street Journal. (http://on.wsj.com/2c7upJI)
PayPal will allow users to select a credit or debit card as the
default payment method and share data on transactions made
through MasterCard's tap-and-pay feature, according to the
Journal. (http://on.wsj.com/2c7upJI)
PayPal, which spun off from e-commerce company eBay Inc last
year, has focused on aggressive growth.
The company's revenue in the second quarter rose more than 15
percent to $2.65 billion from a year earlier and the volume of
payments it processes jumped 28 percent to $86.21 billion.
PayPal is also in discussions with banks that issue cards, to
explore new products and partnerships, the Journal report said,
citing people familiar with the matter.
PayPal was not immediately available for comment.
Shares of PayPal were marginally higher in premarket trading on
the Nasdaq. Up to Friday's close of $37.07, the stock had risen
2.4 percent this year.
(Reporting by Narottam Medhora in Bengaluru; Editing by Anil
D'Silva and Maju Samuel)
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