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Fiserv is simplifying how its clients can integrate PayPal, Venmo, and other related services, improving the checkout experience for U.S. customers by leveraging PayPal’s Fastlane service. This new feature allows businesses to offer faster, more convenient checkouts via a straightforward connection to Fastlane by PayPal.
The move stems from an expanded global strategic partnership between Fiserv and PayPal, which aims to deliver cutting-edge solutions that enhance client value. According to Jennifer LaClair, head of merchant solutions at Fiserv, “Our extended collaboration with PayPal aligns with our mission to provide clients with innovative, easy-to-implement tools that improve and speed up the commerce process.”
Fastlane by PayPal promises a seamless purchasing experience, enabling users to complete transactions with just one click. The service has been shown to reduce checkout times by 32% for guest shoppers, significantly enhancing the overall shopping process. This added convenience builds upon the longstanding partnership between Fiserv and PayPal, which has already resulted in a broad range of payment solutions for millions of businesses worldwide.
Frank Keller, Executive Vice President and General Manager of PayPal’s Large Enterprise and Merchant Platform Group, emphasized the importance of this partnership. “We are thrilled to deepen our collaboration with Fiserv and extend our innovative products to a wider audience. This partnership underlines our commitment to creating the best checkout experience through collaborations with top payment providers and eCommerce platforms,” Keller said.
The latest development follows PayPal’s recent announcement that Adyen, a prominent FinTech platform, will offer Fastlane by PayPal to its enterprise and marketplace customers. Initially, this service will be rolled out to U.S. clients, with plans to expand globally.
PayPal launched Fastlane earlier this year to revolutionize the checkout process. The service simplifies guest checkouts by enabling users to save their payment and shipping details with PayPal, eliminating the need to update information manually or deal with password prompts. This ensures a smoother, faster shopping experience free from common frustrations like credit card updates and slow response times.
With these new tools, Fiserv clients stand to benefit from streamlined payment processes that enhance the customer experience, improve conversion rates, and ultimately support business growth.
