PayPal expands strategic partnership with Adyen to offer Fastlane in the U.S.

(Image Source: www.adyen.com/press-and-media)

PayPal Holdings, Inc. announced the strengthening of its global strategic partnership with Adyen, the global financial technology platform of choice for leading businesses. Within the expanded partnership, Adyen will offer Fastlane by PayPal to accelerate guest checkout flows for its enterprise and marketplace customers in the U.S., with plans to extend this offering globally in the future.

As we can read in this press release, the companies expect Fastlane by PayPal to improve consumer shopping experiences and enhance conversion for businesses leveraging Adyen’s platform.

As they announce, Fastlane by PayPal is a new guest checkout experience that helps shoppers convert more than 80% of the time while reducing time to check out by 32% compared to a traditional guest checkout*. When completing their first checkout with a participating merchant, shoppers can save their card and shipping information more easily using Fastlane. This payment and shipping information can then be prefilled automatically on future purchases everywhere Fastlane by PayPal is available.

Adyen and PayPal have partnered for a number of years to allow Adyen’s customers to offer PayPal’s best-in-class payment marks globally, including PayPal, Venmo, and PayPal’s Buy Now, Pay Later (BNPL) solutions. In addition to increasing Fastlane by PayPal’s reach, Adyen and PayPal say that they plan to continue exploring solutions that enhance consumer journeys and drive value for enterprise businesses.

*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.

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