Payment giant PayPal have acquired AI (Artificial Intelligence) company Jetlore in a bid to build customized experiences for consumers. With this acquisition, PayPal will be leveraging Jetlore’s AI capabilities to fasten their ability to help merchants optimize marketing solutions for customers.
According to PayPal, merchants face issues with respect to customer loyalty primarily because they lack personalized experiences. They further added that this gap leads to a drop in sales, in turn affecting the business as a whole.
By acquiring Jetlore, PayPal believe that they will be able to cement this gap by leveraging their prediction platform that leverages AI. They also claim that this platform will not only provide a better customer experience but also allow them to accelerate marketing solutions for their merchants.
Speaking about this acquisition, Harshal Deo, Vice President of Commerce Solutions, PayPal, commented:
Together, we’ll continue to help merchants develop even more meaningful customer relationships. With Jetlore’s talent and AI-powered technology, we will enhance and accelerate PayPal Marketing Solutions, adding new capabilities that continue to expand PayPal’s value proposition for merchants beyond the online checkout experience.
We share Jetlore’s passion for creating amazing – and personalized – customer experiences and believe their capabilities will accelerate our ability to help merchants optimize content and communication for their customers.