SAN
JOSE, Calif., Aug. 20,
2024 /PRNewswire/ -- PayPal Holdings,
Inc. (NASDAQ: PYPL) today announced the strengthening of its
global strategic partnership with Adyen, the global financial
technology platform of choice for leading businesses. Within the
expanded partnership, Adyen will offer Fastlane by PayPal to
accelerate guest checkout flows for its enterprise and marketplace
customers in the U.S., with plans to extend this offering globally
in the future. Together, the companies expect Fastlane by PayPal to
improve consumer shopping experiences and enhance conversion for
businesses leveraging Adyen's platform.
Fastlane by PayPal is a new guest checkout experience that
helps shoppers convert more than 80% of the time while reducing
time to check out by 32% compared to a traditional guest checkout*.
When completing their first checkout with a participating merchant,
shoppers can save their card and shipping information more easily
using Fastlane. This payment and shipping information can then be
prefilled automatically on future purchases everywhere Fastlane by
PayPal is available.
"Adyen's customer base and relationships with enterprises makes
them the ideal first Fastlane payment processing partner. This
strategic partnership aligns with our goal to make PayPal available
everywhere customers shop globally," said Alex Chriss, President and CEO, PayPal. "PayPal
has evolved into a platform of choice for the world's largest
commerce brands, technology companies, and payment processors
offering seamless and connected commerce experiences to hundreds of
millions of consumers and businesses."
"The expanded partnership with PayPal further strengthens
Adyen's ability to provide global enterprises with seamless
payment flows and top-quality guest shopping experiences,"
said Pieter van der Does, co-founder and co-CEO, Adyen. "PayPal is
a payment brand name that shoppers trust, and we're excited to take
our collaboration another step further in the US, utilizing our
combined expertise to raise the bar for our customers.''
Adyen and PayPal have partnered for a number of years to allow
Adyen's customers to offer PayPal's best-in-class payment marks
globally, including PayPal, Venmo, and PayPal's Buy Now, Pay Later
(BNPL) solutions. In addition to increasing Fastlane by PayPal's
reach, Adyen and PayPal will continue to explore solutions that
enhance consumer journeys and drive value for enterprise
businesses.
To learn more about Fastlane by PayPal, visit
https://www.paypal.com/fastlane.
|
*Source: Based on
PayPal internal data from April 3 to June 15, 2024. Comparing
Fastlane accelerated shoppers vs. non accelerated shoppers for
merchants that have integrated Fastlane.
|
About PayPal
PayPal has been revolutionizing commerce globally for more than 25
years. The company creates innovative experiences that make moving
money, selling, and shopping simple, personalized, and secure.
PayPal empowers consumers and businesses in approximately 200
markets to join and thrive in the global economy. For more
information, visit https://www.paypal.com, https://about.pypl.com/
and https://investor.pypl.com/.
About Adyen
Adyen (AMS: ADYEN) is the financial technology platform of
choice for leading companies. By providing end-to-end payments
capabilities, data-driven insights, and financial products in a
single global solution, Adyen helps businesses achieve their
ambitions faster. With offices around the world, Adyen works with
the likes of Meta, Uber, H&M, eBay, and Microsoft. The
cooperation with PayPal Holdings, Inc. as described in this
partnership update, underlines Adyen's continuous growth with
current and new partners.
Investor Relations Contact:
investorrelations@paypal.com
Media Relations Contact:
mediarelations@paypal.com
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SOURCE PayPal Holdings, Inc.