Adyen to Offer Fastlane by PayPal Checkout Experience

FinTech platform Adyen will offer the Fastlane by PayPal checkout experience to its enterprise and marketplace customers.

The rollout of this offering will begin with Adyen’s customers in the United States and then extend globally in the future, Adyen and PayPal Holdings said in a Tuesday (Aug. 20) press release.

“The expanded partnership with PayPal further strengthens Adyen’s ability to provide global enterprises with seamless payment flows and top-quality guest shopping experiences,” Pieter van der Does, co-founder and co-CEO of Adyen, said in the release.

The addition of Fastlane by PayPal to Adyen’s platform will accelerate guest checkout flows, improve consumer shopping experiences and enhance conversion for businesses using the platform, according to the release.

When shoppers complete their first checkout with a participating merchant, they can save their card and shipping information so that it will be prefilled automatically on their future purchases anywhere Fastlane by PayPal is available, the release said.

This helps reduce the time to check out by 32% compared to traditional guest checkout methods, per the release.

The expanded partnership of Adyen and PayPal builds upon an existing years-long collaboration that allows Adyen’s customers around the world to offer PayPal solutions like PayPal, Venmo and its buy now, pay later (BNPL) options, according to the release.

“This strategic partnership aligns with our goal to make PayPal available everywhere customers shop globally,” Alex Chriss, president and CEO at PayPal, said in the release.

PayPal introduced Fastlane in January and expanded its availability on Aug. 6 by opening the one-click-checkout tool to any business using PayPal’s Complete Payments or Braintree platforms.

This solution was developed to address the challenges of merchants losing sales due to lengthy guest checkout experiences.

“Fastlane helps merchants recognize consumers early in the guest checkout process using their email, allowing them to access their saved information with a one-time passcode so they may autofill their checkout and complete their purchase in as little as one click,” PayPal said in an Aug. 6 press release.

Chriss and PayPal Chief Financial Officer Jamie Miller namechecked Fastlane and Braintree several times during a July 30 earnings call, showing the importance of enabling technologies to the company’s ability to attract and retain key partners.

The post Adyen to Offer Fastlane by PayPal Checkout Experience appeared first on PYMNTS.com.