AI and Gen Z trends to shape PayPal’s future payment strategy, says CEO Alex Chriss

PayPal is gearing up to redefine the future of payments by leveraging artificial intelligence and the changing behaviour of younger consumers, particularly Gen Z, CEO Alex Chriss told CNBC-TV18 in an exclusive interview on the sidelines of Global Fintech Festival.

“AI right now is enabling people to have conversational commerce transactions. Instead of just browsing a catalogue on a website, you can now talk to your phone, have a conversation, and complete a transaction. That is the future,” Chriss said, highlighting how the company is using technology to simplify payments.

He noted that Gen Z’s focus on experiences is reshaping the way they interact with money. “They spend more time with friends and family, and part of that is in commerce transactions. For example, if I'm having a meal with friends, I want to be able to split that purchase. They're using Venmo or PayPal to do that,” he explained. He also pointed to the growing popularity of buy now, pay later services, which allow younger consumers to spread payments over a short period while boosting purchasing power.

Chriss also stressed India’s importance for PayPal’s global strategy. The company, which exited the Indian market in 2021, is now preparing for a renewed push in the country with its new cross-border payment aggregator licence and a partnership with UPI under the PayPal World platform.

“India is a critical market for us. It's the reason I'm here. We have amazing teams across the country, and with the new license and partnership with UPI across PayPal World, you can expect a lot from PayPal in India,” he said.

On the timeline for the India launch, Chriss added, “We're getting ready in the next few months, so it is imminent.”

The CEO also praised India’s fintech ecosystem, noting the rapid pace of innovation. “There's so much inspiration in innovation right now. Every fintech I've met with at this fintech festival is thinking about the future and trying to create it. It's really inspiring,” he said.

With AI-driven conversational commerce and a focus on younger consumers, Chriss indicated that PayPal is positioning itself to stay at the forefront of global payment trends while expanding its presence in key markets like India.

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