PayPal Expands Strategic Partnership with Adyen to Launch Fastlane in the U.S.
Date – 20-Aug-2024
PayPal Holdings Strengthens Global Partnership with Adyen to Introduce Fastlane in the U.S.
PayPal Holdings has announced an expansion of its global strategic partnership with Adyen, a leading financial technology platform for top businesses. As part of this enhanced collaboration, Adyen will introduce Fastlane by PayPal to streamline guest checkout processes for its enterprise and marketplace clients in the U.S., with plans for a global rollout in the future. This initiative aims to improve consumer shopping experiences and boost conversion rates for businesses using Adyen’s platform.
Fastlane by PayPal offers a new guest checkout experience designed to convert over 80% of transactions and reduce checkout time by 32% compared to traditional methods. Shoppers can save their card and shipping information during their first purchase with a participating merchant, allowing for automatic pre-filling of these details on future transactions wherever Fastlane by PayPal is accepted.
“Adyen’s extensive customer base and relationships with enterprises make them the ideal partner for launching Fastlane,” said Alex Chriss, President and CEO of PayPal. “This expanded partnership supports our goal of making PayPal available everywhere customers shop globally. We are committed to providing seamless and connected commerce experiences for the world’s leading brands, technology companies, and payment processors.”
Pieter van der Does, co-founder and co-CEO of Adyen, added, “Our expanded partnership with PayPal enhances our ability to offer global enterprises seamless payment flows and exceptional guest shopping experiences. PayPal’s trusted payment brand, combined with our expertise, will elevate the shopping experience for our customers.”
Adyen and PayPal have a long-standing partnership, allowing Adyen’s customers to offer PayPal’s suite of payment solutions globally, including PayPal, Venmo, and PayPal’s Buy Now, Pay Later (BNPL) services. Beyond the launch of Fastlane by PayPal, the two companies will continue to explore additional solutions to enhance consumer journeys and deliver value for enterprise clients.
