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Mastercard, PayPal partnership goes global

More than a year after the PayPal Holdings Inc.-Mastercard Inc. accord, the two are expanding their partnership into Canada, Europe, Latin America and the Caribbean, and the Middle East and Africa.

A so-called "peace treaty" in September 2016 stopped Mastercard from imposing a digital wallet fee on PayPal and stopped PayPal from asking its Mastercard-holding users to link to a bank account instead.

Under their partnership, PayPal Wallet can use Mastercard's tokenization services for in-store purchases, and Mastercard will be an option in stores that process payments via PayPal's Braintree.