PayPal is using customer shopping and transaction data to fuel a new advertising platform that it says will help merchants make more sales.
PayPal is launching an advertising platform built on a trove of customer transaction data. The company’s new advertising business will encompass purchase information and customer spending habits from PayPal and its sister app Venmo, according to The Wall Street Journal. PayPal has brought on Mark Grether, the former vice president and general manager of Uber Advertising, to lead its advertising business.
“Alongside the advertising business, PayPal will build transparent, easy-to-use privacy controls,” Watson says. As part of its most recent earnings report, PayPal revealed that it processed 6.5 million transactions from 427 million customers in the first quarter of 2024. PayPal says the new platform will help merchants “sell more products and services effectively” while surfacing relevant products to customers.
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