AI and generation Z trends will shape Paypal’s future payment strategy, said CEO Alex Chriss

PayPal is preparing to redefine the future of payments by taking advantage of artificial intelligence and evolution of the behavior of young consumers, in particular the Z generation, said CEO Alex Chriss at CNBC-TV18 in an exclusive interview on the fringes of the Global Fintech Festival.

“AI allows people today to carry out conversational commercial transactions. Instead of simply browsing a catalog on a website, you can now speak to your phone, have a conversation and make a transaction. This is the future,” said Chriss, stressing how the company uses technology to simplify payments.

He noted that the accent put by generation Z on experiences reshapes the way she interacts with money. “They spend more time with their friends and family, and part of this is devoted to commercial transactions. For example, if I have a meal with friends, I want to be able to share this purchase. They use Venmo or Paypal to do this,” he explained. He also underlined the growing popularity of the services to buy now, pay later, which allow young consumers to spread their payments over a short period while increasing their purchasing power.

Chriss also stressed the importance of India for the global PayPal strategy. The company, which left the Indian market in 2021, is now preparing for a new push in the country with its new license of cross -border payments and a partnership with UPI under the Paypal World platform.
“India is a critical market for us. This is the reason why I am here. We have great teams across the country, and with the new license and the partnership with UPIPal World, you can expect a lot from Paypal in India,” he said.

Regarding the launch calendar in India, Chriss added: “We are preparing in the coming months, so it’s imminent.”

The CEO has also praised the Indian Fintech ecosystem, highlighting the rapid rhythm of innovation. “There is so much inspiration in innovation at the moment. Each fintech I have met during this Fintech festival is thinking about the future and tries to create it. It is really inspiring,” he said.

Thanks to the AI-based conversational trade and the emphasis on young consumers, Chriss said that Paypal is positioning itself to stay at the forefront of global payment trends while expanding its presence on key markets like India.

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