PayPal building an AI agent catalog

Digital payments company PayPal is building a catalog to help AI agents make online purchases. “Our vision is to create a universally trusted catalog that AI agents can access , discover and transact with safely and securely through our Store Sync offering,” Jamie Miller , chief financial and operating officer at PayPal, said during the company’s fourth-quarter earnings call today. [caption id="attachment_57368462" align="alignright" width="300"] (Courtesy/Bloomberg)[/caption] Store Sync is a platform that lets merchants showcase their products in a gen AI chat for users to browse, according to the company. The company plans to gradually build a catalog of its partners’ products, allowing consumers to purchases through the PayPal app, said Miller, who was named interim chief executive today after Alex Chriss resigned. The San Francisco-based fintech aims to act as a bridge between gen AI model apps and merchants to help consumers make transactions, Miller said. PayPal already provides this service to Perplexity and Microsoft Copilot users and merchants including Abercrombie and Fitch, Pacsun, Fabletics and Wayfair, Miller said. The company plans to add OpenAI and Google Gemini as gen AI providers along with morvendors this year, she added. Store Sync is enabled through a partnership with AI-driven payments infrastructure company Cymbio , which PayPal agreed to acquire on Jan. 22 to bring the technology in-house, she said. The value of the deal, which PayPal expects to close in the first half of the year, was not disclosed. For 2026, PayPal plans to expand its P2P payments business Venmo and its buy now, pay later option, along with investing in “next gen growth drivers including agentic commerce, PayPal World Ads and crypto,” Miller said. New CEO PayPal also announced today that Enrique Lores will become president and CEO effective March 1, replacing Miller, who is serving as the interim CEO. Chriss took the helm of the company in July 2024. The value of PayPal’s shares has dropped nearly 30% since June 2024, while its revenue has jumped 9% in the same time. The shakeup will “accelerate execution and bring greater discipline to how we implement our strategic priorities as we enter our next phase of growth,” Miller said. “We have not moved fast enough or with the level of focus required, and we are taking immediate steps to address that reality,” CFO Miller said. Lores, currently president and CEO of computer company HP , has been on PayPal’s board of directors for nearly five years. “He is a seasoned chief executive who brings deep experience driving-centric innovation and disciplined execution, simplifying complex businesses and leading large-scale transformations,” Miller said. BY THE NUMBERS: In Q4, PayPal reported: Revenue of $8.7 billion, up 4% year over year; Total payment volume of $475.1 billion, up 9% YoY; and Active accounts of 439 million, up 1.1% YoY. MARKET REACTION: PayPal shares [NYSE: PYPL] were down 20.13% andwere trading at $41.20 at market close on Feb. 3. Register here for the inaugural FinAi Banking Summit, taking place March 2-3 in Denver. View the full event agenda here .

PayPal building an AI agent catalog

Enrique Lores named CEO of payments company effective March 1

Navy Federal Credit Union’s Rahul Zende to speak at FinAi Banking Summit

Santander to buy Webster Bank in a $12.2B deal

Related Posts

5 Questions with … Zack Anderson, JPMorgan’s chief data and analytics officer for payments and global banking

Ripple’s agentic treasury tool can reduce reporting cycle times by 90%

AI agents need machine-speed money; enter stablecoins

Santander to buy Webster Bank in a $12.2B deal

EMERGING FINTECH DIRECTORY

FinAi Podcast

SPONSORED

The Next Generation of Cyberthreats: Powered by AI

Build an Antifragile Strategy to Outperform the Market

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

Connect

Welcome Back!

Retrieve your password

Continue Reading with FinAi News Premium - Less than $2/Day

PayPal building an AI agent catalog

Enrique Lores named CEO of payments company effective March 1

Navy Federal Credit Union’s Rahul Zende to speak at FinAi Banking Summit

Santander to buy Webster Bank in a $12.2B deal

Related Posts

FinAi Podcast

Connect

Welcome Back!

Retrieve your password

Unlock This Article

Continue Reading with FinAi News Premium - Less than $2/Day