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PayPal rolled out PayPal Advanced Offers Platform, which uses AI to analyze consumer data. It gives merchants insights into what consumers have bought across the internet and helps them customize their offers. AI chatbots. Payment companies are investing in these chatbots for customer service and other use cases, like shopping assistants.

PayPal launched Fastlane this year, a one-click checkout that requires no logins or personal information. So far, returning Fastlane users have a nearly 80% conversion rate, compared with the industry average of 50% for guest checkout. Paze also recently became available at major US banks.

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Its volume towers over Cash App, Venmo, and PayPal, thanks to its integration into major banking apps. We expect Zelle volume growth to outpace these apps through 2028. But Zelle remains plagued by policymakers鈥� concerns that its users are vulnerable to fraud. In response, it is refunding victims of imposter scams and sending in-app alerts to help ensure users only send money to trusted recipients.

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As it broadens its acceptance network, this growth will likely eat into the market share of wallets like PayPal and Apple Pay. These competitors may have to innovate to keep their customers loyal and prevent them from making the switch to Shop Pay.

And for reward redemption, the brand recognizes member feedback with options including cash payouts via Venmo or PayPal and gift cards from Amazon, Target, Walmart, and Visa. Consumers seek a smoother path to rewards and expanded options for redemption.

PayPal is falling off the P2P growth curve鈥攂ut it can still be a powerful supplement to PayPal鈥檚 more advanced features. PayPal鈥檚 eponymous P2P product counts just a fraction of the volume of its peers, and growth is flat, per our forecast. P2P isn鈥檛 a priority for PayPal users. Fifty-seven percent of US adults use PayPal, per Pew.

Google Wallet, Apple Wallet, and PayPal have also all beefed up their fraud protection services this year. But as payment players invest more in these protections, fraudsters can't rely on their old tactics. That鈥檚 why they are instead relying on scams that involve consumer deception.

It also includes transactions that were agreed on social platforms initially, but payment took place elsewhere (e.g., PayPal, C2C transactions on Facebook Marketplace). It excludes YouTube and Twitch, cash transactions, travel and event tickets, tips, subscriptions, payments such as bill pay, taxes or money transfers, food services and drinking place sales, gambling, and other vice goods sales.

What鈥檚 in it for PayPal? Allowing spend on a competing wallet may seem counterintuitive: PayPal will lose out on those transaction fees, and it may reduce loyalty between the PayPal or Venmo cardholders and their associated wallets. But letting its cardholders use Apple Pay can bring key benefits to PayPal that the company hopes will outweigh the losses.

PayPal, Revolut, and Klarna now offer marketplaces of goods or services based around payment solutions. Social apps boost shopping functions. Social commerce is a decade old, but better integration with payments and fulfillment services led to a healthy 26.3% growth rate in 2023. Services apps join the fun.

And alternative banking services like PayPal, Cash App, and Venmo have allowed customers who may not have qualified for bank accounts鈥攐r who have felt intimidated by account-opening processes鈥攖o use basic banking services. What this means for banks: Account opening growth will remain stagnant over the next few years, in part due to the shrinking unbanked population.

The news: PayPal is piloting and bringing to market later this year six innovations that use artificial intelligence (AI), per a press release. Enhanced checkout. PayPal upgraded its checkout experience, using AI to remove friction points like password prompts and lagging response times. Fastlane by PayPal. This is a one-click checkout experience that merchants can offer.

PayPal has also been broadening the stablecoin鈥檚 payment use cases to boost adoption. PYUSD can be used to make transfers for free between the PayPal and Venmo apps. Users can also send PYUSD to compatible external wallets for a fee. In March, it began offering fee-free remittances via Xoom using the stablecoin.

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They鈥檒l be more likely to create a regular Venmo account when they鈥檙e old enough, and it gets them into the PayPal ecosystem. The accounts will also help PayPal compete against Block-owned Cash App, which launched teen accounts in 2021. We expect Cash App鈥檚 user growth will outpace Venmo鈥檚 this year, jumping 10.7% YoY to hit 45.5 million US consumers.

This will include Apple Pay, Google Wallet, PayPal, and Cash App, among others. The CFPB has always had enforcement authority over these companies, but it can now conduct proactive examinations to ensure they are complying with all laws and to assess risks that could lead to outages or other customer issues. The CFPB proposed a version of this rule in November 2023. What will the CFPB monitor?