PayPal Holdings, Inc. said, that it and Adyen, the go-to global financial technology platform for top companies, have strengthened their global strategic collaboration.
Adyen will provide Fastlane by PayPal as part of the expanded relationship to expedite guest checkout flows for its enterprise and marketplace clients in the United States, with future plans to expand this product internationally.
The firms anticipate that Fastlane by PayPal will raise customer satisfaction levels and increase conversion rates for organizations using Adyen’s platform.
In comparison to a typical guest checkout, Fastlane by PayPal offers a novel guest checkout experience that helps customers convert over 80% of the time while cutting down on checkout time by 32%.
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Using Fastlane, customers may more conveniently save their card and shipping details at their initial checkout with a partner merchant. Whenever Fastlane by PayPal is offered, this payment and delivery information can then be automatically prefilled on subsequent purchases.
“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.”
For many years, PayPal and Adyen have worked together to enable Adyen’s clients to provide PayPal’s world-class payment services, such as Venmo, PayPal, and PayPal’s Buy Now, Pay Later (BNPL) options.
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Adyen and PayPal will continue to investigate solutions that improve customer experiences and generate value for enterprise enterprises, in addition to expanding the scope of Fastlane by PayPal.
“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.”
About Adyen
Adyen helps businesses reach their goals more quickly by combining end-to-end payment solutions, data-driven insights, and financial goods into a single global solution. Adyen works with places like Microsoft, Uber, H&M, Meta, and more. They have offices all over the world.
