PayPal Holdings, Inc. (NASDAQ: PYPL) has announced an expanded global strategic partnership with Adyen, a leading financial technology platform for major businesses. Under this enhanced collaboration, Adyen will integrate Fastlane by PayPal into its services for enterprise and marketplace clients in the U.S., with plans to extend the offering worldwide in the future. The partnership aims to enhance consumer shopping experiences and boost conversion rates for businesses using Adyen’s platform.
Fastlane by PayPal offers an advanced guest checkout experience that significantly improves conversion rates, with more than 80% of shoppers completing their purchases and reducing checkout time by 32% compared to traditional methods*. Shoppers can easily save their card and shipping details during their first transaction with a participating merchant, allowing for automatic pre-filling of this information in future purchases wherever Fastlane by PayPal is available.
Alex Chriss, President and CEO of PayPal, commented, “Adyen’s extensive enterprise relationships make them the ideal partner for our Fastlane payment processing. This expanded partnership aligns with our mission to make PayPal accessible wherever customers shop around the globe. Our platform is now a preferred choice for major commerce brands, tech companies, and payment processors, providing seamless and integrated commerce experiences.”
Pieter van der Does, co-founder and co-CEO of Adyen, added, “The deepened partnership with PayPal enhances our capability to deliver seamless payment experiences and exceptional guest shopping interactions for global enterprises. PayPal’s trusted brand and our combined expertise will elevate the shopping experience for our customers in the U.S.”
Adyen and PayPal have collaborated for several years, enabling Adyen’s customers to offer PayPal’s premier payment options worldwide, including PayPal, Venmo, and PayPal’s Buy Now, Pay Later (BNPL) services. The expanded partnership will not only increase the reach of Fastlane by PayPal but also continue exploring solutions that enhance consumer experiences and deliver value for enterprise clients.
