Global Payments to offer merchants new checkout solutions with PayPal’s Fastlane

Global Payments (NYSE:GPN) is enhancing its checkout offerings by integrating PayPal Holdings’ (NASDAQ:PYPL) Fastlane payment method, thereby enhancing consumers’ shopping experience and driving increased conversion rates for U.S. businesses leveraging the platform, PayPal said on Wednesday.

The two companies have been working together for more than 15 years, with Global Payments’ (GPN) serving as a top acquirer of PayPal’s (PYPL) branded checkout solutions across Europe, the U.K., Canada, and beyond.

Fastlane allows users to complete purchases in as little as one click. The solution can help deliver nearly 50% higher checkout conversion rates compared to traditional guest checkout flows for consumers paying with a card, while reducing checkout time by more than 28%, PayPal said, citing internal data recorded from Aug. 2 to Sept. 30.

In premarket trading, (GPN) edged up 0.7%, while (PYPL) slipped 0.3%.