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Actionable news in PYPL: PAYPAL HOLDINGS Inc COMMON STOCK,

PayPal (PYPL) and Visa Partnership 'A Phenomenal Move,' Wedbush's Luria Tells CNBC

NEW YORK (TheStreet) -- A partnership agreement between PayPal (PYPL) and Visa (V) was announced Thursday that allows Visa customers to move money instantly on PayPal, and PayPal won't steer customers to use bank accounts, CNBC's Kayla Tausche reported today on "Squawk Alley."

Visa CEO Howard Scharf commented on the partnership last night on a conference call to investors: "It's a long-term agreement, we feel that we've addressed everything that we wanted to address. PayPal, ourselves, and the issuers look at it and say it makes sense for all of us to work together," Scharf said.

Additionally, Gil Luria, head of technology research at Wedbush Securities, joined "Squawk Alley" this afternoon to provide further insight into the agreement, and to explain the stock's decline today.

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