08:06 AM EDT, 08/20/2024 (MT Newswires) -- PayPal Holdings ( PYPL ) said Tuesday that it is expanding its strategic partnership with global financial technology platform Adyen to increase the reach for Fastlane by PayPal ( PYPL ).

Financial details were not disclosed.

Fastlane by PayPal ( PYPL ) is a new guest checkout experience that helps shoppers convert over 80% of the time while reducing check out time by 32% compared to a traditional guest checkout, the company said.

Adyen will offer Fastlane by PayPal ( PYPL ) to accelerate guest checkout flows for its enterprise and marketplace customers in the US with the aim of improving consumer shopping experiences and enhancing conversion for businesses leveraging Adyen's platform.

Adyen plans to extend this offering globally in the future, the company said.

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