Mastercard and PayPal Renew Consumer Credit Card Program

Mastercard (NYSE:MA) and PayPal (NASDAQ:PYPL) today announced a multi-year extension of the PayPal Extras Mastercard co-branded consumer credit card program in the United States and Puerto Rico.

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“We are proud to continue our long-standing relationship with PayPal through this program,” said Craig Vosburg, president, North America, Mastercard. “In this increasingly digital world, we are providing PayPal cardholders with the most advanced and secure technologies, giving them the core guarantees and benefits they’ve come to expect from Mastercard, regardless of how and where they pay.”

Mastercard and PayPal have been working together for more than 10 years. The PayPal Extras card is designed to give PayPal members additional value in every purchase, both online and in stores, including Buyer Protection for every purchase made through PayPal.

“PayPal looks forward to building on our longstanding relationship with Mastercard to deliver continued value and choice to our customers with the PayPal Extras Mastercard,” said Gary Marino, senior vice president, Americas, PayPal. “Mastercard has been a tremendous partner for several years, and we are pleased to extend this agreement.”

The PayPal Extras card offers all the security and convenience consumers expect from PayPal, plus EMV chip technology and Priceless rewards. Cardholders currently earn triple reward points for gas and restaurant purchases, double reward points for PayPal and eBay purchases, and one reward point for every $1 spent everywhere else Mastercard is accepted.

The PayPal Extra’s Mastercard is issued by Synchrony Bank, which announced an extension of its agreement with PayPal last year.

About Mastercard

Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

About PayPal

At PayPal (Nasdaq:PYPL), we put people at the center of everything we do. Founded in 1998, we continue to be at the forefront of the digital payments revolution. PayPal gives people better ways to manage and move their money, offering them choice and flexibility in how they are able to send money, pay or get paid. We operate an open, secure and technology agnostic payments platform that businesses use to securely transact with their customers online, in stores and increasingly on mobile devices. In 2015, 28% of the 4.9 billion payments we processed were made on a mobile device. With our 188 million active customer accounts, PayPal is a truly global payments platform that is available to people in more than 200 markets, allowing customers to get paid in more than 100 currencies, withdraw funds to their bank accounts in 56 currencies and hold balances in their PayPal accounts in 25 currencies. For more information on PayPal, visit https://www.paypal.com/about. For PYPL financial information, visit https://investor.paypal-corp.com.

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