Google and PayPal announced on Wednesday a multi-year strategic partnership aimed at delivering new AI-driven shopping and payment experiences for their users.
Following the announcement, PayPal’s shares rose more than three percent in late afternoon trading.
As part of the agreement, PayPal’s digital payment solutions will be integrated across a range of Google products. Sundar Pichai, CEO of Alphabet, Google’s parent company, said that the partnership will leverage PayPal’s innovative payment capabilities and Google’s advanced AI technologies to enhance services, improve security, and provide a more seamless experience across Google’s platforms.
PayPal’s Enterprise Payments division will serve as a primary provider for card processing and payment services on products including Google Cloud, Google Play, and other platforms.
The partnership marks a significant step in combining artificial intelligence with digital payments, reinforcing both companies’ positions as leaders in technology and financial innovation.
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