• 02/03/2024 13:02

PayPal launches new products based on artificial intelligence

PayPal is launching new products based on artificial intelligence (AI), as well as a one-click payment feature. Innovations, according to management, will be able to revive the company's shares, which have fallen by almost 25% over the past year. Reuters writes about this.

PayPal launches new products based on artificial intelligence

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PayPal announced that this year it will launch a platform using AI to allow Merchants will be able to reach new customers based on their previous purchase history using merchant transaction data.

Merchants will also be able to use a separate AI-powered tool called Smart Receipts to recommend personalized items to customers on their email receipts together with cashback rewards.

PayPal is also introducing a one-click payment feature called Fastlane, which in early testing speeded up payment speeds by nearly 40%, as well as new features for Venmo business profiles, the company said.

Since the beginning of the year, PayPal shares have fallen by 1.22%, and over the past year by almost 25%. The company's management has high hopes for new products, which, in their opinion, will regain investor interest amid widespread demand for artificial intelligence technologies.

PayPal launches new products based on artificial intelligence

Share price dynamics PayPal for the year/Source: Google

minfin.com.ua

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