After first partnering more than a decade ago, PayPal and Fiserv have furthered their partnership to help Fiserv’s merchant clients leverage PayPal to offer shoppers a faster checkout experience.
Specifically, Fiserv will allow its merchant clients to connect to PayPal’s Fastlane, which will ultimately help speed up guest checkout flows in the U.S. Fiserv joins BigCommerce, Bold, Adobe, and Salesforce, which also offer PayPal’s Fastlane.
“We’re excited to deepen our collaboration with Fiserv and extend our innovative products and solutions to a broader audience,” said PayPal Executive Vice President and General Manager Large Enterprise and Merchant Platform Group Frank Keller. “This partnership reinforces our commitment to driving excellence in checkout convenience by partnering with leading payment service providers and e-commerce platforms.”
Fastlane, which PayPal first launched in January and then made generally available earlier this month, recognizes customers early in the checkout process by their email. After customers receive a one-time passcode sent via email, Fastlane allows shoppers to access their saved information by autofilling the fields in the checkout flow. Once verified, customers can complete their purchase in as little as one click. If Fastlane does not recognize a shopper by their email, it allows them to create a Fastlane profile by opting in during their purchase process, enabling faster transactions in the future.
Because the tool does not require users to fill out forms or remember passwords, PayPal estimates that guest shoppers using Fastlane convert more than 80% of the time, have up to 50% higher conversion rates compared to non-Fastlane users, and reduce the time to checkout by 32%.
“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 Fiserv Head of Merchant Solutions Jennifer LaClair. “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.”
Photo by David Rado
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This recent collaboration between Fiserv and PayPal marks a significant step towards enhancing the checkout experience for online shoppers. By integrating PayPal’s Fastlane feature, Fiserv’s merchant clients can now offer a streamlined and faster checkout process to their customers, ultimately leading to increased conversion rates and reduced checkout times.
Fastlane, with its ability to recognize returning customers through email and auto-fill payment details, has proven to be a game-changer in the e-commerce space. The convenience it offers, with one-click purchases and minimal form-filling requirements, has resulted in higher conversion rates and faster transactions for users.
As the partnership between Fiserv and PayPal evolves, we can expect to see more innovative solutions that simplify the complexities of online commerce and provide seamless experiences for both businesses and consumers. This collaboration underscores the importance of strategic alliances in driving progress and delivering value to clients in the digital age.
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