SAN
JOSE, Calif., Aug. 29,
2024 /PRNewswire/ -- PayPal Holdings,
Inc. (NASDAQ: PYPL) today announced an expansion of its global
strategic partnership with Fiserv, Inc.. (NYSE: FI) which
will streamline how merchant clients of Fiserv enable PayPal
experiences for their customers. Building on a longstanding
partnership between the two companies covering several products and
services and millions of businesses, the expanded relationship
simplifies how Fiserv clients enable PayPal, Venmo and related
services, and provides these businesses with a simple connection
point to Fastlane by PayPal to accelerate guest checkout flows
in the U.S.
"We're excited to deepen our collaboration with Fiserv and
extend our innovative products and solutions to a broader
audience," said Frank Keller,
Executive Vice President and General Manager Large Enterprise and
Merchant Platform Group, PayPal. "This partnership reinforces our
commitment to driving excellence in checkout convenience by
partnering with leading payment service providers and e-commerce
platforms."
Fiserv and PayPal have partnered for over a decade on a variety
of best-in-class merchant and payment functions spanning payment
processing, payouts and network services and other ecommerce
capabilities across millions of merchants globally. Fiserv is a
core strategic partner, delivering technology and capabilities that
fuel PayPal's customer-centric innovation across multiple domains
and product lines.
"Fiserv is committed to simplifying the complexities of
commerce, creating value for our clients by making it simple
for businesses to enable new, engaging experiences for their
customer base," said Jennifer LaClair, Head of Merchant
Solutions, Fiserv. "Our expanded partnership with PayPal
supports our mission to enhance client value by providing simple,
cutting-edge solutions to our clients that elevate and accelerate
the commerce experience."
Fastlane utilizes PayPal's decades of payment expertise to
innovate and accelerate the guest checkout experience – allowing
users to complete their purchase in as little as one click. Guest
shoppers using Fastlane convert more than 80% of the time, achieve
up to 50% higher conversion rates compared to non-Fastlane users,
and reduce checkout time by 32%*.
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 Fiserv
Fiserv, Inc. (NYSE: FI),
a Fortune 500 company, aspires to move money and information in a
way that moves the world. As a global leader in payments and
financial technology, the company helps clients achieve
best-in-class results through a commitment to innovation and
excellence in areas including account processing and digital
banking solutions; card issuer processing and network services;
payments; e-commerce; merchant acquiring and processing; and the
Clover® cloud-based point-of-sale and business management
platform. Fiserv is a member of the S&P 500® Index
and has been recognized as one of Fortune® World's Most Admired
Companies™ for 9 of the last 10 years.
Visit fiserv.com and follow on social media for
more information and the latest company news.
Media Relations Contacts:
Malini Mitra,
malini.mitra@paypal.com
mediarelations@paypal.com
Investor Relations
Contact: investorrelations@paypal.com
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SOURCE PayPal Holdings, Inc.
