PayPal has announced an exciting expansion of its global strategic partnership with Adyen, a leading financial technology platform. This collaboration introduces “Fastlane by PayPal” to Adyen’s enterprise and marketplace customers in the United States, with plans for a global rollout in the near future.
The primary goal of this partnership is to enhance the guest checkout experience for consumers. “Fastlane by PayPal” is designed to help shoppers complete their purchases more efficiently, boasting a conversion rate of over 80% and reducing checkout time by 32% compared to traditional guest checkout methods.
This innovative service allows shoppers to save their payment and shipping information during their initial checkout, which is then automatically prefilled for future purchases across all merchants using Fastlane. This streamlines the shopping process, making it more convenient for consumers.
Alex Chriss, President and CEO of PayPal, emphasized the significance of Adyen’s extensive enterprise relationships, making it an ideal partner for this initiative. Chriss highlighted that this collaboration aligns perfectly with PayPal’s strategy to make its services ubiquitous in global commerce.
Pieter van der Does, co-founder and co-CEO of Adyen, echoed this sentiment, noting that the partnership with PayPal will elevate the shopping experience for global enterprises and their customers. He expressed excitement about advancing this collaboration in the U.S. and leveraging their combined expertise to benefit their customers.