PayPal and J.P. Morgan Payments Broaden their Strategic Relationship to Launch Fastlane and Expand Merchant Acquiring in the UK and European Markets
SAN JOSE, Calif., Feb. 25, 2025 -- PayPal Holdings, Inc. (NASDAQ: PYPL) and J.P. Morgan Payments today announced the expansion of their strategic relationship. J.P. Morgan Payments plans to offer Fastlane by PayPal for its merchant clients in the UK and Europe. In addition, PayPal is planning to expand merchant acquiring to businesses across the UK and European markets by leveraging J.P. Morgan Payments’ industry leading Commerce Platform. This expansion will demonstrate how both companies are united in their mission to scale innovation and redefine the global digital commerce experience.
Fastlane accelerates checkout for consumers and boosts conversion for merchants
In the industry today, 70%1 of consumers say guest checkout is important, but still abandon their purchases due to friction in the checkout process. Fastlane addresses this challenge by offering a streamlined guest checkout experience that accelerates checkout speeds by over 36%2 compared to a traditional guest checkout. With Fastlane, customers can complete their purchases in just a few clicks, significantly reducing friction and enhancing the overall shopping experience. As a result, merchants utilizing Fastlane are witnessing a 51%2 increase in conversion rates among accelerated shoppers compared to those using conventional guest checkout options.
"We are thrilled to mark an important moment in Fastlane's journey as we expand outside the U.S. for the very first time. The success we've seen in the U.S. is showing how Fastlane can have a substantial impact on commerce," said Suzan Kereere, President, Global Markets, PayPal. “As we join forces with J.P. Morgan Payments to scale this innovation across multiple markets, we are setting the stage for a smarter, faster, and more secure commerce experience that empowers people and businesses worldwide while delivering exceptional value for our customers."
“In a rapidly evolving payments landscape, clients and their customers seek seamless payment experiences that meet them where they are and accommodate their preferred payment methods,” said Max Neukirchen, Global Co-Head of J.P. Morgan Payments. “The growing collaboration between J.P. Morgan Payments and PayPal combines our complementary strengths to deliver unmatched speed, security, and efficiency to consumers and businesses from two reputable organizations. By planning to bring Fastlane to merchants across new markets, we are leading the industry by unlocking new capabilities on our commerce platform.”
J.P. Morgan Payments combines treasury services, trade and working capital, card and merchant services capabilities to help clients pay customers or employees, in different currencies, around the world. It processes nearly $10 trillion payments daily, operating in over 160 countries and over 120 currencies. This strategic alignment is another example of J.P. Morgan Payments’ international expansion. Those efforts include becoming the first U.S. bank to receive approval to become a principal member of France’s leading payments network, Cartes Bancaires CB.
J.P. Morgan Payments and PayPal have a longstanding strategic relationship collaborating across acquiring and processing, cash management, and treasury services in several markets around the world.
To learn more, visit Fastlane by PayPal.
About
PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com, https://about.pypl.com/ and https://investor.pypl.com/.
Media Relations Contact:
Malini Mitra, malini.mitra@paypal.com and mediarelations@paypal.com
Investor Relations Contact:
investorrelations@paypal.com
1Source: PYMNTS. (March 2023), Streamlining Checkout to Boost Conversion and Loyalty
2Based on PayPal internal data from December 1, 2024, to December 31, 2024. (n=1,687). Comparing Fastlane accelerated shoppers vs. non accelerated shoppers for merchants that have integrated Fastlane in the U.S.