PayPal has expanded its partnership with FinTech payments company Fiserv to simplify how Fiserv clients use PayPal, Venmo and related services in the US.
The partnership will provide businesses with a single connection point to Fastlane by PayPal which PayPal said will speed up guest checkout flows.
Fastlane draws on PayPal's expertise to accelerate the guest checkout experience and allows users to complete their purchase with one click.
PayPal claims shoppers using Fastlane convert more than 80 per cent of the time, achieve up to 50 per cent higher conversion rates compared to non-Fastlane users, and reduce checkout time by 32 per cent.
The two companies have worked with each other for a decade on payment functions, payment processing and network services.
"We're excited to deepen our collaboration with Fiserv and extend our innovative products and solutions to a broader audience," said Frank Keller, Executive Vice President and General Manager Large Enterprise and Merchant Platform Group, PayPal.
"This partnership reinforces our commitment to driving excellence in checkout convenience by partnering with leading payment service providers and e-commerce platforms."
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