PayPal (PYPL) turnaround fueled by partnerships, Fastlane technology

September 23, 2024

Is PayPal's turnaround story finally underway?

LikeFolio data shows considerable app user growth for its namesake PayPal platform, and overperformance vs. competitor Square. And improving user growth metrics from Venmo (trending +9% higher YoY vs. -7% at the end of last quarter).

PYPL shares rose last week after Amazon announced that its payment system will be integrated into purchases made through the "Buy with Prime" program. 

This move seeks to increase transaction volume at high-traffic merchants using Amazon’s fulfillment network. Although currently limited to certain merchants, this collaboration positions PayPal to gain access to a broader customer base and drive revenue growth through Prime users.

Earlier in September, PayPal announced the expansion of its partnership with Shopify, making PayPal an additional credit and debit card processor for Shopify Payments in the U.S.

This integration streamlines operations for merchants by combining PayPal wallet transactions with Shopify Payments, simplifying order management, payouts, and chargebacks.

PayPal also recently expanded its partnership with Fiserv (FI), the company behind many of the payment tech that businesses use to handle transactions both online and in stores.

With this deal, Fiserv’s merchant clients can now easily add PayPal, Venmo, and PayPal’s Fastlane checkout, which speeds up guest checkouts by letting people buy with just one click.

PayPal Fastlane users are converting 80% of the time, with conversion rates 50% higher than usual and a 32% faster checkout, making it a big win for businesses looking to boost sales.

PayPal's Fastlane will also be available for use by Adyen's enterprise and marketplace customers in the US, with plans to extend this offering globally in the future.

An already-existing partnership with Meta allows PayPal to get a cut of transactions on the largest social platform in the world. For reference, Meta pays out creators and developers using Hyperwallet and Meta uses Braintree for credit card processing.

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