PayPal Holdings, Inc. has announced an expanded global strategic partnership with Adyen, a financial technology platform. Under this new agreement, Adyen will integrate Fastlane by PayPal into its services for enterprise and marketplace customers in the US. There are plans to extend this offering to other regions in the future.

Fastlane by PayPal is designed to streamline guest checkout processes. It aims to improve the checkout experience by increasing conversion rates and reducing the time required to complete transactions.

Fastlane Cuts Checkout Time

According to PayPal, Fastlane helps shoppers convert more than 80% of the time and cuts checkout time by 32% compared to traditional guest checkouts.

The service allows users to save payment and shipping information during their first purchase, which can then be automatically filled in on subsequent transactions at any participating merchant.

“Adyen's customer base and relationships with enterprises makes them the ideal first Fastlane payment processing partner. This strategic partnership aligns with our goal to make PayPal available everywhere customers shop globally,” said Alex Chriss, President and CEO, PayPal.

Expanded Partnership

Adyen and PayPal have collaborated for several years, allowing Adyen's clients to offer PayPal's payment options, including PayPal, Venmo, and PayPal's Buy Now, Pay Later solutions. The expanded partnership aims to increase the availability of Fastlane by PayPal and explore further solutions to enhance consumer experiences and provide value to enterprise businesses.

“The expanded partnership with PayPal further strengthens Adyen's ability to provide global enterprises with seamless payment flows and top-quality guest shopping experiences,” said Pieter van der Does, Co-Founder and Co-CEO, Adyen.