PayPal is developing an advertising platform that leverages its extensive customer data to assist merchants in optimizing their ad targeting. The payments giant has brought on Mark Grether from Uber to spearhead this initiative, which aims to create a dynamic, personalized platform that enhances advertising performance for merchants while providing consumers with engaging offers.
This platform will incorporate PayPal’s advanced offers service, launched earlier this year, allowing merchants to connect with customers based on their actual purchasing behavior, including details down to specific products.
Diego Scotti, EVP and GM of the consumer group and global marketing and communications at PayPal, stated, “Commerce and advertising are deeply connected, and we believe that the advertising platform we are building will become an essential marketing channel for merchants of all sizes. I’m thrilled to have Mark join our team and lead this important work.”
PayPal is not the only company harnessing customer data for advertising purposes; in April, JPMorgan Chase introduced a digital media business that enables advertisers to utilize transaction data to target its 80 million customers.
Grether is among several new recruits at PayPal, with John Anderson from Plaid also joining as SVP and GM of the consumer group, where he will oversee product strategy for both PayPal and Venmo globally.