PayPal and Fiserv enhance partnership to redefine merchant payment solutions

PayPal Holdings, Inc. (NASDAQ: PYPL) has announced a significant expansion of its strategic partnership with Fiserv, Inc. (NYSE: FI), aiming to revolutionize how merchant clients integrate PayPal’s payment solutions. This enhanced collaboration builds on a decade-long partnership that has already supported a broad range of merchant and payment functions. The expansion will simplify the process for Fiserv’s clients to enable PayPal and Venmo services, while also introducing Fastlane by PayPal to accelerate guest checkout flows in the U.S.

Fastlane by PayPal, a key component of this expanded partnership, leverages advanced payment technology to streamline the checkout process. This service allows users to complete their purchases with just one click, leading to a significant increase in conversion rates. Fastlane users convert more than 80% of the time, a substantial improvement over standard checkout methods, and experience a 32% reduction in checkout time. This innovation is expected to greatly enhance the efficiency of transactions and provide a more seamless user experience.

Frank Keller, Executive Vice President and General Manager of PayPal’s Large Enterprise and Merchant Platform Group, expressed enthusiasm about the expanded partnership. Keller noted, “We are thrilled to deepen our collaboration with Fiserv and extend our innovative products and solutions to a wider audience. This partnership highlights our commitment to enhancing checkout convenience and partnering with leading payment service providers and e-commerce platforms to drive excellence.”

Fiserv and PayPal have been working together for over ten years, delivering a range of payment and merchant solutions. This collaboration has included advancements in payment processing, payouts, and network services, benefiting millions of merchants globally. The expanded partnership reinforces Fiserv’s role as a crucial strategic partner, providing technology and capabilities that enhance PayPal’s customer-centric innovations.

Jennifer LaClair, Head of Merchant Solutions at Fiserv, emphasized the importance of the expanded collaboration. “Fiserv is dedicated to simplifying the complexities of commerce and creating value for our clients by making it easier for businesses to offer engaging and efficient experiences to their customers,” LaClair said. “Our expanded partnership with PayPal aligns with our mission to provide simple, cutting-edge solutions that enhance and accelerate the commerce experience.”

This strengthened collaboration is set to deliver substantial benefits to businesses and their customers by offering advanced tools and services that streamline payment processes and improve the overall checkout experience. With the integration of Fastlane, merchants can anticipate enhanced efficiency, higher conversion rates, and a more seamless user experience.