PayPal's Fastlane product to be offered on Adyen's platform

PayPal Holdings (NASDAQ:PYPL) expanded its alliance with payments platform Adyen (OTCPK:ADYEY) (OTCPK:ADYYF), bringing Fastlane by PayPal accelerated checkout to Adyen’s enterprise and marketplace customers in the U.S., the companies said on Tuesday.
Fastlane allows customers to save their card and shipping information, so they can more quickly check out with any participating merchant. The companies plan to extend the offering globally in the future.
PayPal (PYPL) President and CEO Alex Chriss, who joined the company almost a year ago, is making technological enhancements to the payment technology company’s products combined with customer data the core of his plan to accelerate growth.
“Adyen’s (OTCPK:ADYEY) customer base and relationships with enterprises makes them the ideal first Fastlane payment processing partner,” Chriss said in a statement. “This strategic partnership aligns with our goal to make PayPal (PYPL) available everywhere customers shop globally.”
In addition to increasing Fastlane by PayPal’s reach, Adyen and PayPal will continue to explore solutions that enhance consumer journeys and drive value for enterprise businesses, they said.
PayPal (PYPL) stock rose 0.2% and Adyen ADRs rose 2.0% in Tuesday premarket trading.

Tags: PYPL

PayPal’s Fastlane product to be offered on Adyen’s platform