PayPal's Enhanced Customer Experience through Acoustic's Analytics Solution
Technology Category
- Platform as a Service (PaaS) - Application Development Platforms
- Sensors - Acoustic Sensors
Applicable Industries
- Consumer Goods
- Finance & Insurance
Use Cases
- Machine to Machine Payments
- Predictive Maintenance
About The Customer
PayPal Holdings, Inc., headquartered in San Jose, California, was founded in 1998. It operates a global digital payments platform that allows consumers and merchants to send and receive money in more than 200 markets worldwide. In addition to its Payments Platform, the company also offers a variety of payment solutions, including its PayPal, PayPal Credit, Venmo, and Braintree products. As of December 2018, PayPal boasted 267 million active accounts, including 21 million active merchant accounts, and reported USD 15.45 billion in revenue.
The Challenge
PayPal Holdings, Inc., a global digital payments platform, was facing a significant challenge in maintaining a positive and hassle-free customer experience. Despite having over 260 million active accounts, the company lacked visibility into customer experience issues. The challenge was to quickly and proactively identify and rectify user struggle issues. The company needed a solution that could provide insights into customer experiences, identify problems, and offer quick solutions. The goal was to ensure a simple, fast, and frictionless experience for each customer across every device, system, and channel. This was crucial as PayPal operates in over 200 markets worldwide and processes billions of transactions each year.
The Solution
To address the challenge, PayPal deployed a customer experience analytics solution, Tealeaf by Acoustic. This solution provided the much-needed visibility into customer experience issues. It enabled PayPal to find, visualize, and define customer experience issues and correct struggles or obstacles quickly. The solution was instrumental in saving millions of dollars in conversions on a regular basis. The analytics solution provided proactive data analysis, faster customer experience KPIs, and saved time in fixing friction. With Acoustic, PayPal was able to gain insight into all transaction experiences to proactively identify and resolve issues, thereby boosting transactions per customer and quickly fixing online issues.
Operational Impact
Quantitative Benefit
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