PayPal Holdings, Inc. (NASDAQ: PYPL) has announced that it is expanding its global strategic partnership with Fiserv, Inc. (NYSE: FISV). This expansion is aimed at simplifying how merchant clients of Fiserv can offer PayPal experiences to their customers. The enhanced partnership will allow Fiserv clients to easily enable PayPal, Venmo, and related services, and will provide a simple connection point to Fastlane by PayPal, which will help to speed up guest checkout flows in the U.S. This expansion builds on the longstanding partnership between the two companies, covering several products and services, and serving millions of businesses.
“We’re excited to deepen our collaboration with Fiserv and extend our innovative products and solutions to a broader audience,” said Frank Keller, Executive Vice President and General Manager Large Enterprise and Merchant Platform Group, PayPal. “This partnership reinforces our commitment to driving excellence in checkout convenience by partnering with leading payment service providers and e-commerce platforms.”
Fiserv and PayPal have been partners for over a decade, collaborating on top-notch merchant and payment functions. This includes payment processing, payouts, network services, and various ecommerce capabilities for millions of merchants worldwide. Fiserv is a key strategic partner, providing technology and capabilities that drive PayPal’s customer-focused innovation across multiple domains and product lines.
“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,” said Jennifer LaClair, Head of Merchant Solutions, Fiserv. “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.”
Fastlane leverages PayPal’s extensive payment expertise to enhance and expedite the guest checkout process, enabling users to finalize their purchase with just one click. Guest shoppers using Fastlane convert more than 80% of the time, achieve up to 50% higher conversion rates compared to non-Fastlane users, and reduce checkout time by 32%.
