PayPal, a renowned global payments platform, and Fiserv, a leading payment service provider, today announced a significant expansion of their strategic partnership.
This collaboration aims to simplify the integration of PayPal experiences, including Venmo and related services, for Fiserv’s merchant clients in the US, enhancing checkout convenience and efficiency.
The core objective of this partnership is to streamline how Fiserv’s clients enable PayPal functionalities, providing a seamless connection point to Fastlane by PayPal, which accelerates guest checkout flows across the US This initiative builds on a long-term collaboration between the two companies that spans several products and services, benefiting millions of businesses.
Fiserv stands as a core strategic partner to PayPal, delivering critical technology and capabilities that fuel innovation across various domains and product lines. As a leader in payment processing, payouts, and network services, Fiserv is dedicated to simplifying commerce complexities, enhancing client value by enabling engaging new customer experiences.
This enhanced partnership leverages PayPal’s decades of payment expertise to optimise the guest checkout experience significantly. Fastlane users enjoy a conversion rate of over 80%, with a checkout time reduction of 32% compared to non-Fastlane users. These figures underline the effectiveness of the collaboration in improving ecommerce efficiency and customer satisfaction.
Jennifer LaClair, head of merchant solutions at Fiserv, said, “”Fiserv is committed to simplifying the complexities of commerce, creating value for our clients by making it simple for businesses to enable new, engaging experiences for their customer base.
“Our expanded partnership with PayPal supports our mission to enhance client value by providing simple, cutting-edge solutions to our clients that elevate and accelerate the commerce experience.”
Frank Keller, executive vice president and general manager Large Enterprise and Merchant Platform Group, PayPal, said, “We’re excited to deepen our collaboration with Fiserv and extend our innovative products and solutions to a broader audience.
“This partnership reinforces our commitment to driving excellence in checkout convenience by partnering with leading payment service providers and e-commerce platforms.”
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