Fintech company Knot has partnered with PayPal to help enhance the checkout experience via a new integration, which involves card-on-file management.
The collaboration will see Knot implement its CardSwitcher technology to enable PayPal users to update their PayPal-branded card-on-file information, accessible across multiple merchants’ checkout pages.
Knot’s CardSwitcher enables users to update their saved PayPal card payment methods at select merchants without manually entering card details. The integration aims to empower PayPal users to keep their payment information current, ensuring smooth transactions, and is designed to reduce friction at checkout.
The solution also requires no technical integration by merchants, with Knot’s solution aiming to offer a simpler and more secure process to enhance customer satisfaction while driving higher conversion rates for merchants.
Rory O’Reilly, CEO and Co-Founder of Knot, said: “Partnering with PayPal is a major step towards simplifying payments for millions of consumers and businesses.
“We’re thrilled to bring our CardSwitcher technology to PayPal’s platform, enhancing user experience and supporting merchants with seamless checkout processes.”
PayPal is the latest payment leader to partner with Knot after forming partnerships with the likes of American Express, Bilt and Step.
Knot seeks to provide a seamless relationship between payment service providers and merchants in order to streamline customers’ experience when paying at checkout.
Due to the increase in payment methods and ever-evolving demands from consumers to have more options and spend less time at checkout, merchants and payment providers are always finding new ways to accelerate the customer journey.
With this latest partnership, users of the PayPal app will be able to log into their preferred merchant account to automatically add their PayPal card in one single step.
