PayPal Holdings, Inc. has announced an expanded global
strategic partnership with Adyen, a financial technology platform. Under this
new agreement, Adyen will integrate Fastlane by PayPal into its services for
enterprise and marketplace customers in the US. There are plans to extend this
offering to other regions in the future.

Fastlane by PayPal is designed to streamline guest checkout
processes. It aims to improve the checkout experience by increasing conversion
rates and reducing the time required to complete transactions.

Fastlane Cuts Checkout Time

According to PayPal, Fastlane helps shoppers convert more
than 80% of the time and cuts checkout time by 32% compared to traditional
guest checkouts.

The service allows users to save payment and shipping
information during their first purchase, which can then be automatically filled
in on subsequent transactions at any participating merchant.

“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.

We’re excited to announce @Adyen as @PayPal‘s first Fastlane distribution partner! This expanded partnership combines PayPal’s brand, trust, and global scale with Adyen’s customer base and relationships with enterprises to help make PayPal available everywhere customers shop.… pic.twitter.com/Hu3hbdVLcZ

— Alex Chriss (@acce) August 20, 2024

Expanded Partnership

Adyen and PayPal have collaborated for several years,
allowing Adyen’s clients to offer PayPal’s payment options, including PayPal,
Venmo, and PayPal’s Buy Now, Pay Later solutions. The expanded
partnership aims to increase the availability of Fastlane by PayPal and explore
further solutions to enhance consumer experiences and provide value to
enterprise 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.

This article was written by Tareq Sikder at www.financemagnates.com.

—

— CONTENT NOT MODERATED BY G6

— Please be careful with this content. If you don’t think it should be here, please get in touch with us at [email protected]