Skip to main content

Shares of PayPal Holdings Inc (PYPL) - Get PayPal Holdings, Inc. Report are up more than 40% in 2017 and the stock is adding to those gains Wednesday, up more than 3%.

The critics used to say Visa (V) - Get Visa Inc. Class A Report would crush PayPal. Then MasterCard (MA) - Get Mastercard Incorporated Class A Report , Wells Fargo (WFC) - Get Wells Fargo & Company Report , JPMorgan (JPM) - Get JPMorgan Chase & Co. Report and Alphabet (GOOGL) - Get Alphabet Inc. Class A Report , TheStreet's founder Jim Cramer, who also manages the Action Alerts PLUS charitable trust portfolio, said on CNBC's "Mad Dash" segment.

None of them did and now they're all partners, he said, adding that investors can now count the behemoth Apple (AAPL) - Get Apple Inc. Report as a partner as well. On Wednesday, PayPal COO Bill Ready said Apple Music, its App Store and iTunes will begin accepting PayPal as payment options. The rollout will begin in Mexico and Canada and be an option in the U.S. soon.

Dan Schulman is a "fantastic" CEO who is amazing at working out deals, Cramer reasoned.

As it turns out, PayPal wasn't in a war with anyone. Instead of getting into financial battles with titans far larger than itself, it found a way to join forces and partner with them, he explained.

Scroll to Continue

TheStreet Recommends

Many analysts were bearish on PayPal simply because they didn't understand it, Cramer said. They didn't understand Venmo and what its potential could be. PayPal is "brilliant and it's going higher," he concluded.

PayPal's shares rose 3.3% to $56.55 by Wednesday's close.

Visit here for the latest business headlines.

Image placeholder title

Apple, Alphabet and Wells Fargo are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL, GOOGL and WFC? Learn more now.

Visit here for the latest business headlines.