The city of San Jose is located in the state of California.The month of January. It is with great pleasure that we announce that PayPal Holdings, Inc.. (NASDAQ: PYPL) today announced the introduction of six new innovations that it is testing and bringing to market this year in an effort to revolutionize commerce through artificial intelligence (AI) driven personalization for both merchants and consumers.. During the PayPal First Look keynote, Alex Chriss, President and CEO, introduced: a completely new PayPal checkout experience that radically speeds up check out for consumers and helps merchants convert transactions like never before; Fastlane by PayPal, a dramatically faster and smarter guest checkout experience; Smart Receipts, giving customers AI-personalized recommendations from merchants to keep them coming back; the PayPal advanced offers platform so merchants can provide relevant, personalized, real-time offers to consumers and drive more sales; a reinvented PayPal consumer app giving shoppers new ways to earn cash back and more reasons to use PayPal; and, Venmo's enhanced business profiles, so small businesses can find and engage new customers, and grow their businesses
During the PayPal First Look keynote, Alex Chriss, President and CEO, introduced: a completely new PayPal checkout experience that radically speeds up check out for consumers and helps merchants convert transactions like never before; Fastlane by PayPal, a dramatically faster and smarter guest checkout experience; Smart Receipts, giving customers AI-personalized recommendations from merchants to keep them coming back; the PayPal advanced offers platform so merchants can provide relevant, personalized, real-time offers to consumers and drive more sales; a reinvented PayPal consumer app giving shoppers new ways to earn cash back and more reasons to use PayPal; and, Venmo's enhanced business profiles, so small businesses can find and engage new customers, and grow their businesses
During the presentation, Alex Chriss, President and CEO of PayPal, said, "PayPal is on a mission to revolutionize commerce, globally, and today we are starting the next chapter." PayPal, with 400 million consumer accounts, as well as 35 million merchant accounts, handles about one quarter of all e-commerce transactions around the world every year, but more importantly, shoppers trust PayPal to handle all of their payments."
A key component of PayPal's mission is to revolutionize commerce worldwide, and today we are kicking off the next chapter in that quest," said Alex Chriss, the company's President and CEO. "With almost 400 million consumer accounts, and 35 million merchant accounts, PayPal handles about a quarter of the world's e-commerce transactions each year, but more importantly, shoppers trust PayPal to handle their payments."
"PayPal is introducing six new innovations that we believe will not only solve real pain points for customers, but also change the landscape of payments and commerce as a whole for the better," said Chriss.. Our company has developed a number of new solutions for merchants to accelerate checkouts and personalize offers, as well as a new consumer app that will encourage PayPal customers to shop with us more often. We have also developed a new version of Venmo that will be the growth platform for local small businesses. PayPal has always been a pioneer in the future of money for consumers and merchants, and today marks the beginning of the next revolution.
Our company has developed a number of new solutions for merchants to accelerate checkouts and personalize offers, as well as a new consumer app that will encourage PayPal customers to shop with us more often. We have also developed a new version of Venmo that will be the growth platform for local small businesses. PayPal has always been a pioneer in the future of money for consumers and merchants, and today marks the beginning of the next revolution.
A new, more advanced way to speed consumers through checkout in a seamless way that reduces lost sales will be needed by merchants in 20241, as digital commerce will surpass $6 trillion by that time. It is also crucial that consumers continue to look for ways to stretch their budgets and get the most value out of their shopping experience. With PayPal's global scale and extensive data set, combined with the power of artificial intelligence, the company will be able to provide consumers and merchants with the next generation of value.
The transformation of the checkout process
There is one last interaction between a consumer and a merchant when it comes to checking out, and although it seems as simple as it can be, any friction could cause a disruption in the process. The goal of businesses is to focus on the next sale and the goal of consumers is to remove any annoying interruptions such as password prompts or lagging responses. PayPal has addressed this issue by massively accelerating the checkout process to get customers to choose PayPal as their payment method, integrating passkeys to allow customers to log in with their face or fingerprint with one tap, and improving the latency to make the experience as smooth as possible. With this upgrade, PayPal claims to be able to reduce latency by as much as 50%2, and customers will be able to check out twice as fast as before, all with the same level of security and trust that they have come to expect from PayPal.. Additionally, the new PayPal checkout will also be leveraging artificial intelligence to become smarter and faster as time goes on
Additionally, the new PayPal checkout will also be leveraging artificial intelligence to become smarter and faster as time goes on
Here is a quick introduction to Fastlane by PayPal
Since the guest checkout process is both slow and cumbersome, merchants are losing out on sales as a result. Additionally, it is not uncommon for shoppers to not sign in or sign up while browsing the web, so when they are ready to check out, they must find their password, update their credit card information, or change their shipping address.. It is with this in mind that PayPal is launching Fastlane by PayPal, an all-new one-click guest checkout experience that merchants utilizing PayPal's platform will be able to offer their customers, making it easy and convenient for them to make a purchase.. As soon as the customer saves their information with Fastlane, they will be able to check out in just a few taps. There is no need to remember a username or password, no need to update your personal information, and no need to share your credit card with businesses all over the world
There is no need to remember a username or password, no need to update your personal information, and no need to share your credit card with businesses all over the world
Fastlane by PayPal has been piloted by PayPal with a small group of merchants and it has been a success so far. There has been early evidence that Fastlane can recognize 70% of guests3 and accelerated checkout speeds of almost 40% compared to a traditional guest checkout process for select merchants who use BigCommerce, a leading open software-as-a-service (SaaS) e-commerce platform and longtime PayPal partner.
PayPal Smart Receipts are now available
There is no doubt that merchants want to encourage customers to return, and consumers want to find the best deals, so PayPal is eliminating the guesswork for both parties with the launch of Smart Receipts.. As soon as a consumer makes a purchase with PayPal, he or she will receive a receipt that will allow them to not only track their purchase, but also use artificial intelligence to predict what they might want to buy from that merchant in the future. Thus, merchants are now able to include a personalized recommendation with a cashback reward offer on their receipts in addition to a personalized recommendation
Thus, merchants are now able to include a personalized recommendation with a cashback reward offer on their receipts in addition to a personalized recommendation
As almost 45% of PayPal customers globally open their email receipts every day5 – an incredible open rate – this could mean that millions of merchants and hundreds of millions of consumers will receive timely, hyper-relevant recommendations and rewards as a result of these receipts. As a result, merchants have more opportunities to re-engage with their customers directly, which increases the chances of repeat business and business growth.
Through personalized AI, PayPal can give any sized merchant the power of being one of the world's biggest retailers by providing them with personalized suggestions based on shopper behavior, combined with the scale of what PayPal can see across the web. That gives any merchant the power to be one of the world's biggest retailers.
The PayPal Advanced Offers Platform is now available
When consumers shop online today, they will experience ads that are generated based only on their browsing behavior, which can be frustrating and irrelevant for them. In response, PayPal will use unique customer insights to build a dynamic, truly personalized advanced offers platform based on the information it gathered from its customers to enable merchants to reach customers based on what they have actually bought across the internet, down to a stockkeeping unit (SKU) and an individual product.. There is the possibility that this new, performance-based offers platform could use artificial intelligence (AI) to organize and analyze data from nearly half a trillion dollars worth of merchant transactions across the globe6. As part of the platform, merchants will be able to customize offers for their customers, and they will only pay for the performance of the campaign, not for the impressions or clicks. In the case of PayPal customers, it means that they will receive more relevant offers, and more opportunities to earn rewards as a result
In the case of PayPal customers, it means that they will receive more relevant offers, and more opportunities to earn rewards as a result
Also, PayPal is building a set of transparent, easy-to-use privacy controls that customers can use to choose whether or not they wish their data to be shared with merchants for the purpose of personalizing their shopping experience. 
The PayPal app is being reinvented
Additionally, PayPal is re-imagining the PayPal app in order to give loyal customers even more reasons to shop and pay with PayPal all the time. It is all too common for consumers to be served the top items from the biggest merchants who can afford to pay the best search terms on Google. There is also the fact that consumers are still feeling the pinch of inflation and are looking for ways to spend smarter and find the best deals in the market. Therefore, PayPal is introducing CashPass in order to give customers access to hundreds of exciting, personalized cash back offers from a wide range of top brands across the country. Users will simply need to tap on the offer, make a purchase at the business, and use PayPal to complete the purchase. The CashPass app uses artificial intelligence (AI) technology to organize personalized offers for customers based on their shopping behaviors, and customers will discover new cash back offers regularly, giving them more reasons to visit the app again and again
The CashPass app uses artificial intelligence (AI) technology to organize personalized offers for customers based on their shopping behaviors, and customers will discover new cash back offers regularly, giving them more reasons to visit the app again and again
Paypal is planning to launch CashPass with an amazing set of launch partners in the coming months, so that consumers can access offers from merchants such as Best Buy, eBay, McDonald's, Priceline, Ticketmaster, Uber, and Walmart as early as March.
It will also be possible for PayPal CashPass users to stack rewards with other PayPal rewards such as cash back from the PayPal Cashback Mastercard®, allowing them to put the cash back into a PayPal Savings account and earn even more rewards.
It's time to introduce the next generation of Venmo Business Profiles
Business profiles were introduced by Venmo in 2021 to provide businesses with a way to accept payments and grow their business on an affordable and easy basis, and have grown to a community of more than 90 million active accounts in the last few years. There are many small businesses that rely on word-of-mouth, social media, and reviews on other sites for referrals. The challenge of standing out on social media can be a real challenge, and one bad review can have a serious impact on a business. As a solution to this, Venmo has introduced enhanced Venmo business profiles so that small businesses will be able to be discovered more easily than ever before. In the next evolution of business profiles, subscribers will be able to subscribe to their profiles, rank their profiles, and offer consumers promotions in order to attract more customers to their businesses. By increasing their visibility within the Venmo app, businesses will be able to drive more traffic, generate more sales, and grow their business more meaningfully.
In the next evolution of business profiles, subscribers will be able to subscribe to their profiles, rank their profiles, and offer consumers promotions in order to attract more customers to their businesses. By increasing their visibility within the Venmo app, businesses will be able to drive more traffic, generate more sales, and grow their business more meaningfully.
For consumers, they will be able to discover top-ranked businesses endorsed by their network and benefit from cashback deals when supporting local businesses in their communities. In the world of mobile payment, there is no other platform that has a social feed as active, useful, and as personal as Venmo, which represents a revolution in providing small businesses with real-time offers and promotions at a hyper-local level. Similarly to PayPal, Venmo will have the same kind of privacy controls available.
Over the course of 2024, all of these new experiences will begin to be rolled out across the United States.
Visit the following website for more information: http://www.paypal.com/us/whats-new/first-look/ for more information.
1 Insider Intelligence, "Ecommerce growth worldwide will pick up before tapering off," August 23, 2023 2 Based on PayPal internal data from October to November 2023.3 Based on PayPal internal data from October 1 to November 2, 2023.4 Based on PayPal internal data from November 2 to November 18, 2023.5 Based on PayPal internal data from November 2, 2023 to November 18, 2023.5 Based on PayPal internal data from November 1, 2023 to January 8, 2024.6 Based on PayPal internal data from Global Branded XO TPV for the 12-month period of Dec'22 to Nov'23.
PayPal - What you need to know
As a leader in the digital commerce revolution for more than 25 years, PayPal has remained at the forefront of it. PayPal enables hundreds of millions of consumers and merchants to join and thrive in the global economy by leveraging technology to make sending money and shopping more convenient, affordable, and secure. You can obtain more information about PayPal by visiting the following websites: https://www.paypal.com, https://about.pypl.com/ and https://investor.pypl.com/.
Statements that are forward-looking 
We would like to inform you that this press release contains "forward-looking" statements within the meaning of applicable securities laws.. The forward-looking statements and information in this document relate to future events and goals and reflect, among other things, PayPal's plans regarding the development of new products in the future.. Those statements that are regarded as forward looking may use terms such as "seek", "believe", "plan", "estimate", "anticipate", "expect", "project", "forecast", or intend, as well as statements about events or results that "may", "will", "should", "could", or "might" happen or be achieved, as well as any other similar expressions.
Those statements that are regarded as forward looking may use terms such as "seek", "believe", "plan", "estimate", "anticipate", "expect", "project", "forecast", or intend, as well as statements about events or results that "may", "will", "should", "could", or "might" happen or be achieved, as well as any other similar expressions.
There are a number of risks and uncertainties associated with forward-looking statements, and these risks and uncertainties may result in actual results being materially different from those stated. The Securities and Exchange Commission (the "SEC") has published PayPal Holdings, Inc.'s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings with the Securities and Exchange Commission (the "SEC") as well as its future filings with the SEC providing additional information about these and other factors. 
We advise you to note that the forward-looking statements contained in this press release are only valid as of the date hereof. PayPal expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein in order to reflect any change in expectations with regard thereto, or any change in events, conditions or circumstances on which the statement is based. 
Juliet Niczewicz, [email protected] Joe Gallo, jogallo@paypal.com are the media relations contact persons:
PayPal Holdings, Inc. is the source of this information.
NASDAQ-listed PayPal Holdings, Inc. (NASDAQ: PYPL) today announced that on January 25, 2024 at 9:30 am PT, PayPal is providing an exclusive preview of the first innovations that will be presented in...
It has been announced today that PayPal Holdings, Inc. (NASDAQ: PYPL) has appointed Suzan Kereere as its new President, Global Markets, effective January 1, 2024.

Source prnewswire