Google, PayPal strike multiyear partnership for simpler, more secure online transactions

Google, an Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) (TSX:GOOG:CA) unit, and PayPal (NASDAQ:PYPL) (NEOE:PYPL:CA) announced on Wednesday a multiyear partnership to make online transactions simpler and more secure.

"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," said Sundar Pichai, CEO of Google and Alphabet.

"We are bringing PayPal's products and services to billions of Google users," said Alex Chriss, President and CEO of PayPal.

The partnership is set to bring together PayPal's global payment infrastructure, data-driven personalization, and identity solutions, alongside Google's AI expertise to deliver new AI experiences.

PayPal's solutions—including PayPal branded checkout, Hyperwallet, and PayPal Payouts solutions—will be integrated throughout various Google products.

The payments company is also set to partner with Google Cloud to reimagine its technology foundations, applications, and infrastructure to power commerce and payments platform.