PayPal Launches Fastlane for Faster, Easier Checkout for Visitors

PayPal (NASDAQ: PYPL) announced the availability of Fastlane through PayPal for US businesses of all sizes. This new feature aims to improve the guest checkout experience, making it faster and easier, just in time for the holiday shopping season. Fastlane uses PayPal’s multiple payment technologies to allow users to complete their purchases with just one click.

Improved checkout experience

According to PayPal President and CEO Alex Chriss, Fastlane significantly reduces the time consumers spend on checkout, providing a seamless experience. This innovation is expected to help businesses drive more sales and improve customer loyalty.

Outsourcing remains the preferred option for many buyers, regardless of your standard process. Research from Capterra reveals that 43% of consumers prefer online checkout, and 72% will still use it even if they have an in-store account. Additionally, 66% of consumers expect the online payment process to take less than 4 minutes, highlighting the need for faster, more convenient payment options.

Key features of Fastlane

Fastlane addresses these challenges by prioritizing the needs of both sellers and consumers. It allows merchants to see buyers early in the visitor’s checkout process using their email. Shoppers can access their saved information with a one-time passcode, enabling them to automatically fill in their payment information and complete their purchase quickly. For those unfamiliar with checkout, creating a Fastlane profile is easy and does not require new forms or passwords. Once a profile is created, future checkouts are expedited wherever Fastlane is enabled.

Availability and Integration

Fastlane with PayPal is now available on PayPal Complete Payments and PayPal Braintree. US merchants can access Fastlane through a variety of platforms, including Adobe Commerce, BigCommerce, and Salesforce Commerce Cloud. Integrating Fastlane into online checkout can be completed in one step, providing shoppers with a faster checkout experience.