MasterCard Holders Can Now Use PayPal To Pay in Stores

Reuters reported that MasterCard has signed a deal with Online payment company, PayPal, allowing Master Card holders to use PayPal's payment services in stores. The Paypal- MasterCard partnership was first reported by the Wall Street Journal. (on.wsj.com/2c7upJI)

PayPal's partnership with MasterCard follows a similar deal with Visa Inc in July as the company looks to expand its payments network. The online payment giant has ongoing negotiations with banks that issue cards, to explore new products and partnerships the Wall Street Journal report said,

Based on the new partnership, PayPal will allow its users to select a credit or debit card as their default payment method and share data on transactions made through MasterCard's tap-and-pay feature, according to the Journal. (on.wsj.com/2c7upJI)

PayPal, which spun off from e-commerce giant company eBay Inc last year, has focused on aggressive growth. In the second quarter of this year, the company's revenue increase more than 15 percent to $2.65 billion year on year and the volume of processed payments jumped 28 percent to $86.21 billion.