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PayPal launches AI-powered products

PayPal launches AI-powered products

On January 25, PayPal CEO Alex Criss unveiled 6 new products, “innovations to revolutionize commerce,” based on artificial intelligence. Chriss joined the company in September 2023 and is trying to leverage AI tools as much as possible to grow the company.

What are these new features that should appear in PayPal? Example:

The “smart receipts” feature should use AI to predict the next purchases from the merchant. In this way, the merchant will provide personalized recommendations and cashback offers in electronic receipts.

Fastlane is a one-click payment feature. Customers simply save their details in Fastlane for one-touch checkout.

The advanced offers platform will provide merchants with unique customer data based on their previous purchase history.

Thus, the company believes that knowledge about its customers, the history of their transactions, as well as merchants’ orientations – will help to open new opportunities for the company in symbiosis with artificial intelligence.

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