PayPal Launches Guest Checkout Service for Fiserv Clients

In a move to enhance online shopping, PayPal has announced a new guest checkout service for Fiserv's business clients, allowing merchants to speed up transactions in the U.S. This exciting partnership aims to simplify the payment process for customers and will be available to Fiserv clients early next year.

PayPal’s guest checkout service, named Fastlane, allows shoppers to make online purchases without needing to enter passwords, shipping addresses, or payment details if that information is already saved in PayPal’s system. According to PayPal, using Fastlane can reduce checkout times by 32%, making online shopping quicker and more convenient.

‍

Expanding Options for Merchants

This partnership not only brings the Fastlane service to Fiserv clients but also includes access to PayPal's popular Venmo service and other PayPal offerings. Frank Keller, PayPal's Executive Vice President, highlighted that teaming up with payment providers like Fiserv allows PayPal to reach a wider audience with its innovative products.

Jennifer LaClair, head of merchant solutions at Fiserv, emphasized that this collaboration aims to provide clients with simple and cutting-edge solutions that enhance the shopping experience.

‍

A Strong History of Collaboration

PayPal and Fiserv have worked together for over a decade on various payment solutions, processing tools, and e-commerce resources. This deeper partnership will further enable PayPal to share its solutions with more businesses.

In addition to working with Fiserv, PayPal recently expanded its guest checkout options to clients of Adyen, another payment processor. This means more merchants can take advantage of PayPal’s services, including Venmo and buy now, pay later options.

‍

Industry Trends

The collaboration between PayPal and Fiserv comes amid a broader trend where major payment companies are joining forces to improve checkout experiences. For example, Stripe has teamed up with buy now, pay later company Zip, while American Express partnered with Nigerian payments provider Flutterwave to facilitate payments for online businesses.

‍

Looking Ahead

PayPal’s new guest checkout service for Fiserv clients represents a significant step forward in making online transactions easier and faster. As the payment landscape continues to evolve, partnerships like this one will play a crucial role in enhancing the shopping experience for consumers and merchants alike. Keep an eye out for these exciting developments in early 2024!

‍