The company aims to improve the checkout experience for both merchants and consumers, with new services being tested this year, CEO Dan Schulman said.
Digital payments pioneer PayPal aims to amp up its checkout technology as it beats back more competition in that arena and revamps its approach to engaging users.
In speaking to an investor conference last week, PayPal CEO Dan Schulman said the company aims to reduce the time it takes for merchants to take customers through a transaction; to eliminate its reliance on passwords; and to draw more consumers to its buy now-pay later services, among other moves.
PayPal has about 35 million merchant customers and nearly 400 million consumer accounts that use its checkout technology, Schulman said, noting that consumers choose PayPal about 60% of the time when it’s an option. He contended the next biggest player in the industry attracts just 8% of consumers