PayPal Holdings, Inc. (NASDAQ:PYPL) expanded its collaboration with Global Payments Inc. (NYSE:GPN) to enhance checkout experiences.

As part of this partnership, Global Payments will provide U.S. merchants with improved PayPal and Venmo branded checkout solutions, as well as accelerated guest checkout through Fastlane by PayPal.

This initiative aims to enhance consumer shopping experiences and boost conversion rates for businesses using the platform.

Global Payments and PayPal have partnered for over 15 years to provide diverse payment solutions for millions of merchants worldwide.

Fastlane leverages PayPal's extensive payment expertise to transform the guest checkout experience, allowing users to complete purchases in just one click.

According to the companies, this solution can boost checkout conversion rates by nearly 50% compared to traditional card payment methods while also reducing checkout time by over 28%.

Suzan Kereere, PayPal's president of Global Markets, said, "This partnership demonstrates the velocity by which we're innovating, and the impact we can have on transforming the checkout experience for consumers and merchants alike."

President and Chief Operating Officer of Global Payments Bob Cortopassi added, "We are delighted to expand our relationship with PayPal and integrate their new checkout solutions into our platform, enhancing the quality and quantity of payment choices offered to our merchant customers across the U.S. and helping them to maximize their ecommerce businesses."

Investors can gain exposure to the stock via Global X FinTech ETF (NASDAQ:FINX) and ETF Series Solutions Grayscale Future of Finance ETF (NYSE:GFOF).

Price Action: PYPL shares are up 0.2% at $81.07 at last check Wednesday.

• Apple Pay Expands Buy Now, Pay Later With Affirm, Adds Support For Third-Party Browsers And More

Photo: Shutterstock