PayPal and Adyen Extending Partnership to Expedite Digital Checkouts

This broader collaboration enables the companies to offer Fastlane by PayPal, a functionality that will expedite digital checkout flows for enterprise and marketplace customers. According to the digital payment giant’s press release, this initiative will be rolled out in the US before extending it to its global customer base.

Both companies believe Fastlane by PayPal will streamline shopping experiences and conversion for businesses using the Adyen platform. Allegedly, this system will help “shoppers convert more than 80% of the time” and make checkout times 32% faster.

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Customers can reportedly save their card and shipping information more efficiently via Fastlane. This information will be “auto-filled” during follow-up shopping sessions to save time. President and CEO of PayPal, Alex Chriss, stated:

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.

He added that PayPal has become the platform of choice for the “world’s largest commerce brands”. The PayPal-Adyen partnership has been ongoing for several years, enabling Adyen to offer services such as Venmo and Buy Now – Pay Later.

Based on PR Newswire information, Adyen was recently recognised as a leading fintech in the IDC Marketspace. It stood out for its “comprehensive solution, innovation, and focus on merchants”.