PayPal will use data from billions of customer transactions to supercharge its nascent ad business.
The new PayPal Ads group is headed by recent hire Mark Grether, a senior vice president and GM at PayPal, who says the budding advertising operation will "help make merchants smarter to sell more products and services effectively, as well as enable consumers to discover more of what they love."
But, his reported statement doesn't really dwell on the fact that it will be using customer data, including purchase history, to pull this off.
In addition to the main PayPal platform, it also operates cash transfer app Venmo and Honey, a browser extension designed to find deals online.
The report also mentions that Venmo will see fewer ads served in order to not drive off its younger users.
PayPal's data on users' purchases and other transactions, combined with AI, might prove to be great at advertising, though probably to the consternation and frustration of recipients.
The original article contains 366 words, the summary contains 160 words. Saved 56%. I'm a bot and I'm open source!
This is the best summary I could come up with:
PayPal will use data from billions of customer transactions to supercharge its nascent ad business.
The new PayPal Ads group is headed by recent hire Mark Grether, a senior vice president and GM at PayPal, who says the budding advertising operation will "help make merchants smarter to sell more products and services effectively, as well as enable consumers to discover more of what they love."
But, his reported statement doesn't really dwell on the fact that it will be using customer data, including purchase history, to pull this off.
In addition to the main PayPal platform, it also operates cash transfer app Venmo and Honey, a browser extension designed to find deals online.
The report also mentions that Venmo will see fewer ads served in order to not drive off its younger users.
PayPal's data on users' purchases and other transactions, combined with AI, might prove to be great at advertising, though probably to the consternation and frustration of recipients.
The original article contains 366 words, the summary contains 160 words. Saved 56%. I'm a bot and I'm open source!
Is there an alternative to paypal?
Depends on what feature you use.
https://alternativeto.net/software/paypal/
For my use case Revolut mostly replaced it.