PayPal announced an expanded collaboration with Global Payments Inc. on October 23, 2024, to transform checkout experiences for U.S. merchants. Global Payments will now offer enhanced PayPal and Venmo branded checkout solutions, including Fastlane by PayPal.
Fastlane is designed to revolutionize the guest checkout experience, enabling users to complete purchases in as little as one click. Internal data from August to September 2024 showed Fastlane accelerated shoppers experienced nearly 50% higher checkout conversion rates compared to traditional guest checkout flows, while reducing checkout time by over 28%.
This partnership leverages Global Payments' extensive merchant network to introduce PayPal's innovative products to a wider audience. It signifies a commitment by both companies to enhance commerce on a global scale and drive increased conversion for businesses.
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