Welcome to the new PayPal (PYPL - Get Report) .

PayPal's stock has surged 61% this year, blowing away Facebook (FB - Get Report) , Apple (AAPL - Get Report) and JPMorgan (JPM - Get Report) . After talking with PayPal CEO Dan Schulman at length, you can see why Wall Street has embraced the stock. PayPal is really reinventing itself. In short, it's striking new deals to open up its platforms to others such as Facebook and Baidu (BIDU - Get Report) . Meanwhile, Schulman explains the coming Apple Pay Cash may not instantly be a major threat to PayPal's popular Venmo service -- building a Venmo won't happen overnight for Apple.

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