PayPal to launch AI-based products as new CEO aims to revive share price
PayPal is launching new artificial intelligence-driven products as well as a one-click checkout feature, the company said on Thursday as its chief executive tries to inject new life into the payments giant.
PayPal will this year roll out a platform that uses AI to enable merchants to reach new customers based on their prior shopping history, using data from the roughly half a trillion dollars' worth of merchant transactions it has processed globally.
PayPal is introducing a "one-click" checkout feature called Fastlane, which in early testing has accelerated checkout speeds nearly 40%, along with new features for Venmo business profiles, the company said.
The S&P 500 index climbed to its fourth straight record high close on Wednesday, fueled in part by a rally in technology stocks on AI optimism. PayPal reports fourth quarter earnings on Feb. 7. (Reporting by Hannah Lang in Washington; editing by Michelle Price and Emelia Sithole-Matarise)
The S&P 500 index climbed to its fourth straight record high close on Wednesday, fueled in part by a rally in technology stocks on AI optimism. PayPal reports fourth quarter earnings on Feb. 7. (Reporting by Hannah Lang in Washington; editing by Michelle Price and Emelia Sithole-Matarise)
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