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Investing.com -- PayPal (NASDAQ:PYPL) stock climbed Wednesday, rising 2% after the digital payments giant announced a multiyear strategic partnership with Google (NASDAQ:GOOGL) aimed at transforming commerce across platforms and devices.
The collaboration will integrate PayPal’s payment solutions throughout Google’s ecosystem while leveraging Google’s AI capabilities to enhance PayPal’s services. Under the agreement, PayPal Enterprise Payments will become a key provider processing card payments across Google Cloud, Google Ads, and Google Play.
"PayPal is a leader in digital commerce, and we’re excited to expand our work together to make online transactions simpler and more secure," said Sundar Pichai, CEO of Google and Alphabet. "Through this partnership, PayPal will use our industry-leading AI to enhance services and security, and we will more deeply integrate PayPal’s innovative payment capabilities for a better experience across Google products and platforms."
The partnership will focus on several key areas, including the development of AI-powered shopping experiences and the creation of industry standards for "agentic commerce" - commerce facilitated by AI agents. PayPal’s branded checkout, Hyperwallet, and PayPal Payouts solutions will be integrated across various Google products.
Additionally, PayPal will expand its relationship with Google Cloud to reimagine its technology foundations, applications, and infrastructure to power its next-generation commerce and payments platform.
PayPal CEO Alex Chriss emphasized the importance of trust and innovation in the emerging world of AI-facilitated commerce, noting that the partnership would bring PayPal’s products and services to billions of Google users worldwide.
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