Shares of PayPal Holdings were higher Tuesday after the company announced it was expanding its partnership with MasterCard to allow customers to use PayPal’s payment services in stores. The digital payments company will let customers make MaterCard their automatic payment option, and consumers and small businesses will now be able to cash out funds from PayPal accounts immediately onto a MasterCard debit card. Managers for TheStreet’s Trifecta Stocks portfolio — which holds MasterCard — said in a note to subscribers that the more interesting part of the arrangement is MasterCard enabling PayPal’s Braintree and Venmo products with its MasterPass and MasterCard Send solutions. Chris Versace and Bob Lang say the pairing of those PayPal services with MasterCard’s own offerings simplifies a consumer’s ability to checkout at a time when many are frustrated by the swipe to chip transaction.
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