PayPal has presented new features based on artificial intelligence.
The mentioned company described its new technological solutions as innovations that will revolutionize commerce. The new CEO of the firm, Alex Chriss, said that PayPal intends to use artificial intelligence to personalize sellers and consumers.
As part of the smart receipts function, machine intelligence will be applied as a tool for predicting what buyers are likely to want to purchase as part of the next commercial act of interaction with the seller. Based on the relevant data, the merchant will be able to form recommendations that will meet the needs of a particular consumer to the maximum extent.
The offering platform promises to provide merchants with the opportunity to gain customers based on what they actually purchased on the online platform, down to the stock-keeping unit and the individual product.
PayPal is also launching a one-click guest checkout service. This solution of the company was named Fastlane. As part of this new service, the firm does not require either a username or password and also no need to provide credit card details to businesses all over the Internet.
Alex Chriss says that the company is implementing innovative solutions that not only solve real customer problems but also have the potential to change the functional space of payments and commerce.
At the same time, the new features have not yet had a positive impact on PayPal’s financial performance. The value of the company’s securities on Thursday, January 25, fell by 4% during afternoon trading.
As we have reported earlier, PayPal and SAP to Simplify Digital Payments for Businesses.