(5 February 2025 – United States) PayPal is increasingly leveraging its enormous database to personalise the customer experience and increase market share amid mounting competition.
PayPal processed 26 billion transactions across its platforms in 2024 as the group’s new strategy enters a second year. The company now enables AI-powered products such as the Fastlane checkout system and the PayPal assistant customer service engine to become more granular based on individual users.
PayPal recently launched PayPal Everywhere, a feature that enables consumers to choose a monthly category of spending, such as groceries or clothing, and receive 5% cash back on up to $1,000 when using a PayPal debit Mastercard.
In the digital asset market, PayPal in late 2024 added scale for its PYUSD stablecoin, using a distributed ledger to link cross-border payment services to PayPal’s Xoom remittance app. PayPal has signed Bitpay to build acceptance for stablecoin payments across Bitpay’s network of more than 200 merchants.
“AI is opening a huge opportunity for us. We are working with merchants so when consumers show up at checkout it’s not a static button anymore. It’s a personalised button that understands the profile of that consumer and the journey they have been on with that merchant to present them with a reward, or cash back or even a BNPL loan at the moment of checkout” commented PayPal CEO Alex Chriss.