Revolutionary AI-Powered Updates: PayPal to Pilot Cash Back Feature and ‘Smart Receipts

PayPal has recently​ announced that it​ will be piloting several⁣ new updates to ‍its service, many ⁣of which will utilize AI-driven personalization. Among these updates is a new⁤ cash-back offering known as “CashPass”, a feature called “Smart ​Receipts” that‌ provides personalized recommendations, and‍ enhancements to the checkout and⁤ guest experiences. Additionally, PayPal is also introducing improvements to Venmo for small businesses and a new offers platform ⁤for ⁤merchants.

CashPass: Personalized Cash-Back Offers

PayPal’s new “CashPass” feature‌ will‍ provide customers with access to hundreds of personalized cash-back offers. Users can ‍simply click on an offer they are interested in, shop at the brand,⁣ and then check out with PayPal. CashPass uses ​AI to organize personalized offers for users ‍based on their‍ shopping behaviors. The ​app will regularly update with new offers, encouraging customers to check it ​frequently.

The​ company plans to launch CashPass in March with several⁤ partners, including ​Best Buy, eBay, Priceline, Ticketmaster, Uber, Walmart, ⁤and McDonald’s. Users will be ‌able to⁣ combine these offers with ‍other‌ PayPal rewards, such as cash back from the PayPal Cashback Mastercard.

Smart Receipts: AI-Powered Shopping Predictions

Another new feature is “Smart Receipts”, which uses AI to provide​ customers with ⁣a receipt that not only ⁣tracks ‌their order but ⁤also predicts what they⁣ may want to buy next from the brand.‌ These predictions are based on shopper behavior data and ⁣what PayPal can see across⁢ the web. Brands can include a personalized recommendation and a cash-back reward ‍offer on the receipt to increase their chances of re-engaging directly with customers.

Fastlane: ​One-Click Guest Checkout​ Experience

PayPal is also⁤ launching a new service ⁤called “Fastlane” that ‍offers a‌ one-click​ guest checkout experience. This feature will ⁢allow‍ users to make‍ quick purchases on merchant websites that use PayPal’s platform. ‍Fastlane aims​ to simplify the checkout process by allowing customers⁤ to save ⁣their information and check out in one tap, without the need ⁣to enter a username ⁤or password or ​update their personal information.