PayPal is open to business with advertisers.
Today, PayPal is formally launching PayPal Ads, its arm that sells digital ads using data about what people buy across its properties within the U.S. PayPal Ads is led by Mark Grether, an advertising executive who previously built Uber and Amazon’s ad businesses.
PayPal is pitching aggregated transaction data from its 400 million active users across its properties, Grether told ADWEEK in an interview.
“The sheer amount of transaction data that we have at our fingertips is just incredible—it’s much more than any single retailer would ever have,” Grether said.
As retailers of all sizes, like Walmart, Instacart, and Best Buy are growing their ad businesses, PayPal is the newest financial company to get in on the game.
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