Shares of PayPal Holdings (NASDAQ:PYPL) rose by 2% following the company's presentation at the UBS Global Technology and AI conference.
The digital payments giant reiterated its confidence in previously stated forecasts, expecting growth in the mid-single-digit range for the quarter.
During the conference, PayPal highlighted its strong performance during five days of cyber sales, a critical period for retail and online shopping, despite the later-than-usual timing of the Christmas holidays and cyber sales this year.
The company emphasized that its branded checkout system remains a top priority, with significant investments being directed towards enhancing the user experience and integration with merchants.
PayPal also reported high engagement from American consumers, bolstered by improvements in the PayPal app and the overall experience for both consumers and merchants.
Looking ahead, PayPal expects continued international growth next year, planning for a global rollout of enhancements. This strategy emphasizes the strength of PayPal's international presence.
Aiming to expand its services and increase transaction frequency, PayPal has implemented "Buy Now PayPal Later" in its payment statement and launched "PayPal Everywhere." This initiative is aimed at increasing debit card transactions through the branded checkout system.
Moreover, the PayPal "Pay With Venmo" feature, allowing Venmo users to use their Venmo balance for branded online transactions, is now available at major retailers such as StubHub and TikTok.
PayPal also revealed that its latest modern integration provided merchants with a conversion increase of up to 400 basis points, performing particularly well on mobile platforms. As only 5% of the transaction flow currently benefits from this enhanced experience, PayPal sees significant growth opportunities in this area.#NASDAQ #PYPL