PayPal plans to launch an ad sales service using AI and big data for promotions.

Summary：This Tuesday, YouMedia revealed that PayPal is planning to establish a brand new promotional mechanism through AI and big data.

According to a report by The Wall Street Journal on Tuesday, PayPal plans to establish an advertising sales business.

This business will be based on data generated by tracking the purchasing and spending behavior of millions of consumers, including users of the Venmo app.

The report noted that PayPal has hired a new Senior Vice President and General Manager of PayPal's advertising unit to lead this effort. This leader previously oversaw Uber's advertising business.

The Wall Street Journal quoted the new leader saying, "If you buy products online, we know who bought what and where, and we can utilize this data."

The new advertising unit aims to sell ads to its own customers as well as companies that do not sell products or services through PayPal.

The head of this department will be responsible for creating new advertising formats, overseeing sales, and hiring staff to grow the department.

In January, PayPal launched its first advertising product called "Enhanced Offers," which uses artificial intelligence and company data to help merchants offer discounts and other promotions to PayPal users.

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Written byTraderKnows

Created date:2024-05-29 02:57

Last Updated:2024-05-29 03:19

Independent Analysis: Manually researched and fact-checked by the TraderKnows Compliance Team, based on public regulatory records.

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