Transition from Payments to Commerce Platform
Under CEO Alex Chriss, who joined in September 2023 from Intuit, PayPal has shifted from what Chriss describes as a company people “know and love, just online” to one that aims to be “available everywhere a consumer or a merchant wants to transact.”
The strategy represents a departure from the single-product approach that built the company’s reputation over two decades.
“This is a new PayPal,” Chriss said at the company’s February 2025 Investor Day. “Call it PayPal 2.0. Call it the next chapter.”
The transformation includes PayPal Open, a merchant platform launched in February 2025 that consolidates payment tools, financial services and risk solutions.
The platform became available in the United States in spring 2025 with expansion to the United Kingdom and Germany following later in the year.
PayPal has also announced partnerships with J.P. Morgan Payments to expand its Fastlane checkout service to Europe and the UK, and with Verifone to deliver omnichannel payment solutions to enterprise merchants.
In July 2025, PayPal initiated a technology infrastructure overhaul expected to cost up to US$300m over 18 to 42 months.
The initiative includes workforce reductions to be completed by 2027 and focuses on improving scalability, reducing network latency and decreasing operational costs.
