PayPal, MasterCard strike deal for store paymentsSeptember 7, 2016 - 12:16 AMT PanARMENIAN.Net - MasterCard Inc said on Tuesday, September 6 it had expanded its deal with payment processor PayPal Holdings Inc, which would allow customers to use PayPal's payment services in stores, according to Reuters. PayPal's partnership follows a similar deal with MasterCard's larger rival Visa Inc in July as the company looks to expand its payments network. 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, which allows the shopper to wave a card or mobile phone over a reader to pay, the companies said in a statement. As part of the deal, MasterCard will allow PayPal users to withdraw cash from their accounts using a debit card and also waive the digital wallet fee it currently charges PayPal. The two companies have an existing partnership for co-branded consumer credit cards in the United States and Puerto Rico. PayPal, 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. The partnership with MasterCard was first reported by the Wall Street Journal. 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. Shares of PayPal were slightly higher in premarket trading. Up to Friday's close of $37.07, the stock had risen 2.4 percent this year. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Armenian delegation participating in NATO PA session The delegation is headed by Andranik Kocharyan, the chairman of the standing committee on defense and security matters. Schengen visa cost won’t change for Armenia – diplomat The increase in the cost of a Schengen visa will not apply to citizens of Armenia, a Foreign Ministry spokesperson has said. Yeremyan Projects opens state-of-the-art dairy production plant Yeremyan Projects officially launched the Yeremyan Products state-of-the-art milk processing plant in Yerevan on May 24. Azerbaijan's defense spending set to increase by 11% Azerbaijan's spending on defense and national security will increase by 11%, according to a fresh bill. |