Today’s busy shoppers prioritize fast, simple, satisfying shopping experiences. At the same time, they’re being hit with an unprecedented amount of retail choice and ad noise. And an avalanche of irrelevant offers can be irritating to the point of pushing potential customers away.
This evolving shopping landscape is challenging businesses to find more-effective ways to reach and attract new customers. And while rapid checkouts can make or break a sale, a speedy checkout experience alone is no longer enough.
Help your customers find the items they want, easily complete purchases, and receive AI-driven targeted post-purchase offers — with the newest PayPal innovations.
PayPal is introducing a new suite of demand and conversion innovations that work together to help drive sales and increase conversion so businesses can:
Give customers their desired shopping experiences by building intelligence, personalization, and speed into every customer touchpoint — from discovery to doorstep.
Effective, personalized experiences can surface relevant products that shoppers may be more likely to buy — and help keep those customers coming back. Of customers surveyed, 56% say they’ll become repeat buyers after a personalized experience.1
Using predictive customer insights from a global network of 426 million accounts,2 PayPal’s advanced offers platform can help businesses reach new shoppers by delivering intelligently targeted, personalized, and real-time offers. These offers are based on detailed purchase history insights taken from across the web, down to stock keeping unit (SKU)-level data in many cases.
Businesses can present personalized rewards and messages like BNPL eligibility on product pages to encourage customers to complete their purchase.
If a shopper has purchased from high-end beauty websites, for example, PayPal can surface an offer for a specific blouse in the shopper’s preferred color and size from a similarly high-end retailer.
Shoppers expect at least choice, convenience, and a secure checkout experience — and they have no problem abandoning their carts if they face obstacles. Each barrier a business creates — obligatory account creation, too many fields to complete, lack of preferred payment methods — decreases the likelihood of a sale. Removing checkout friction points can help speed the checkout process and increase conversion.
PayPal has analyzed and optimized every millisecond of the shopping experience to deliver a faster, streamlined checkout experience. The reimagined PayPal checkout experience features:
Paying with PayPal could be twice as fast for some customers, as PayPal can potentially reduce latencies by 50% (based on PayPal internal data from October through November 2023).3
And for shoppers who want to check out as guests, Fastlane by PayPal has helped customers complete checkout approximately 30% faster,4 and shoppers with Fastlane profiles have shown to convert at approximately 80%.5
Businesses want customers to come back after they complete a purchase. And customers want to stretch their dollars and get the best deals. Connecting with customers post-purchase through personalized offers and rewards can be an effective way to cross-sell, up-sell, and encourage future purchases.
PayPal users can view personalized offers and product recommendations with Smart Receipts, part of PayPal’s new advanced offers platform. PayPal uses the power of AI to help predict what customers may want to buy next from that business, narrowing it down to the exact product in the right size and preferred color. More than 300 million purchase receipts are opened by PayPal users each month.6
Increasing users’ visibility may help businesses enhance efficiencies through integrated order management with consolidated receipts.
Some merchants have reduced “items not received” disputes by as much as 80%.7
Ready to power your business growth with PayPal’s AI-driven innovations? Get more details in our latest report.
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