LONDON, April 3, 2023 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) and Live Nation Entertainment, Inc. (NYSE: LYV) today announced a multi-year strategic partnership that names PayPal as the Preferred Payments Partner of Ticketmaster, providing fans a simple and flexible way to buy tickets to the live entertainment they love.
As part of the partnership, fans will be able to pay with PayPal and PayPal Pay Later products across Ticketmaster's platform. Additionally, PayPal Braintree will become Ticketmaster's primary global payment processor, speeding up the checkout process and helping to drive conversion.
With PayPal's payment solutions front and centre throughout the checkout experience on Ticketmaster,fans can confidently know they are buying tickets with a simple and trusted payment method supported by Buyer Protection1 and advanced fraud detection technology to help keep their payments safe. Fans will also benefit from the option to use one-time login, where they can choose to save their information for future purchases. They will now have access to payment options across a total of 21 countries, including:
- PayPal Checkout: giving fans a trusted, secure way to pay, letting them choose from whatever payment methods they have on file, like – credit card, debit card, PayPal balance and bank withdrawal;
- PayPal Pay Later: allowing fans to pay for purchases evenly over the course of instalments2 in fixed amounts – helping manage their budget while still enjoying their favourite artists and teams.
"Our goal is to seamlessly connect artists and event organizers with fans wherever they are in the world, and PayPal helps us take that to the next level with a truly global-reaching payments solution," said Mark Yovich, President, Ticketmaster. "This partnership gives fans continuity and confidence that they have a secure, trusted and accessible payment method wherever in the world they happen to be attending an event."
"PayPal's scale and ability to provide payments options in global markets comes from the company's experience over several decades and has resulted in a strong reputation among consumers as a trusted payment method3," said Peggy Alford, EVP of Global Sales, PayPal. "Our data shows that consumers are nearly three times more likely to finish buying a ticket to a live entertainment event when they see PayPal as a checkout option4, demonstrating the value the PayPal brand brings to this partnership. This expanded engagement between PayPal and Ticketmaster will give fans the ability to check out in as little as seconds with flexible payment options they know and trust."
The partnership also includes an expanded global marketing program to drive broad engagement and fan loyalty through experiences and offers.
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering hundreds of millions of consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com.
Ticketmaster is the world's largest ticket marketplace and the global market leader in live event ticketing products and services. Through official partnerships with thousands of venues, artists, sports teams, festivals, performing arts centres, and theatres, Ticketmaster processes 500 million tickets per year across 30+ different countries. Ticketmaster is a part of Live Nation Entertainment (NYSE: LYV).
1 Buyer Protection covers all eligible purchases where PayPal is used. A 180 day time limit and other terms apply. See the Buyer protection section of your local User Agreement for more information: https://www.paypal.com/uk/webapps/mpp/ua/useragreement-full
2 Consumer eligibility is subject to status and approval. Product features differ by market. See relevant product terms for more details.
4 Nielsen Study commissioned by PayPal to understand and measure the impact that PayPal has for US-based large enterprise merchants across different verticals (e.g., health & beauty, travel, fashion) by Nielsen Behavioral Panel of desktop transactions from 15,144 US consumers between July 2020 to September 2020.