Fintech

Fintech Nexus Newsletter (May 28, 2024): PayPal is launching a new ad business


Last month, it was Chase, this month, it is PayPal launching a new ad business.

PayPal has hired Uber’s former head of advertising to run PayPal Ads, the new division that will be selling targeted ads based on its customer data.

Let’s consider PayPal’s scale for a second. In the first quarter alone, PayPal processed 6.5 billion payments from 400 million users. Each one of those payments is a unique data point that can be used for ad targeting.

 PayPal users would be opted in by default but will have the ability to opt-out.

It will be interesting to see how these ads are received from PayPal’s customers once they are rolled out. 

But I think we are seeing an entirely new product category emerge for those fintech companies and banks with enough scale.


> PayPal Is Planning an Ad Business Using Data on Its Millions of Shoppers

www.wsj.com 

The payments company hires Uber’s former head of advertising to run a new ad division.


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  • Peter RentonPeter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.





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