Yeah.

Starting from we have his address, his bank address, his, uh, postal address.

We have everything that we need to actually fulfill the order, right? And hence, in our case, um, we truly can make this kind of process much more frictionless, and at the same time, making sure it is actually Joe.

Um, we have all the fraud protection in the background, which we're leveraging from, from payments.

So from that perspective, we're basically leveraging the strength of PayPal and now just applying it in a new environment, which is the creative itself, as opposed to a checkout.

Right? And that means now for our merchants that they can basically increase the reach of their own storefront.

Which is why we call it storefront ads.

Yeah.

Two-part question, why is that? And do you think those walls are starting to or eventually will come down, those silos?

I do hope so because historically, right, there was media buying in TV operate differently from media buying in radio and print and out of home and social and search.

And hence, you had to have specialists, right, in how to actually execute campaigns in these different categories.

I think the big difference, if you think about it now, is that with the transaction data spanning across CTV, across platforms, digital out of home, across social, search, commerce media, right? You have a much more holistic perspective on how campaigns actually perform.

And hence, the campaign execution is now more and more often actually across all different channels holistically in one single campaign.

Obviously, AI from an execution perspective is helping you in doing that.

And so I do think over time we are less siloed in campaign execution and in the evaluation how something performs in one specific area and you have a much more broader perspective.

And so the question we use, what separates the companies that generally kind of have the right to play in commerce media from the ones who are just chasing ad dollars?

Mm.

Which means we are sitting, um, across thirty million merchants, four hundred million consumers, right? So we are seeing what consumers do, not just from a single merchant perspective, no matter how large the merchant is, but we're seeing it across all the merchants, right? And that gives us this kind of much more, uh, horizontal view of consumer behavior.

Um, and I think that is the key difference.

The other key difference is, is we're not just seeing behavior, we're actually seeing the real transactions.

We know what actually people are purchasing, right? Not whether they search for something, whether they browse for something.

We actually see what they are actually buying.

And that is again the other big difference compared to where I was in, in the past.

Right.

Yes

... as opposed to the consumer need to go to a shopping site, right? Uh, and so with the payment rails, we have all the infrastructure to do so.

And so we've launched a product called Storefront Ads, which, as the name says, brings the storefront into the ad, into the consumer, wherever the consumer is.

Uh, it's on the open web, it's in CTV, it's in LMS.

No matter where the consumer is, he can now or she can now shop.

Now, question for you before Ashley, and then, uh, um, if you were talking to brands, advertisers, businesses, what are the three areas of focus that they can spend their time on to make sure that they're successful at obsessing over the customer? Because I think that's a key part of making your flywheel successful, is that customer experience.

Yeah, I mean, the customer ex- experience, right, is f- now coming back to the PayPal point, right, how can you actually pay with t- trust? How is it very easy to make payments, right? Uh, and, and hence for us, it's really important, again, if we now run campaigns, that the campaigns themselves feel highly relevant.

That's why we use-

So then what would you say to like an entrepreneur then that's just starting out that, you know, to get data, to get information, to then convert to a B2B business later on? What should they focus on?

I mean, again, first of all, I think it's really important to understand this kind of two pillars, the B2C and the B2B business.

I think that's really kind of important to kind of understand that and then figure out how can you actually collect data that's on the one hand really powerful, but also cost efficient in the way you produce the data, right? So let me give you an example.

If you upload something on YouTube, right, and people are watching it, that the next generation is much cheaper compared to shooting a big Hollywood movie, right? So the data production costs is in a user-generated environment much lower versus in a professional-created environment, as an example, right? And then again, the second piece is the B2B business is really about, as I mentioned, you have to kind of take the data, you build your strategy, you build engineers.

Nowadays, a lot of that can be used with third-party technology, tech stacks, right? You don't need to build everything in-house anymore.

You need to more connect the stuff together.

And then you hire salespeople and you're off to the races.

Trying to break into marketing or advertising, from what you know now, what would you tell your younger self if you're just breaking in today? Which path did you go down?

Why don't we just start out by telling us about the program?

Yeah, let me start and share with the audience more about PayPal advertising.

And then I dive deeper into what are we doing for our SMB business.

So we basically started to roll out PayPal advertising about a year ago.

And the idea was that at PayPal, we have data from 30 million merchants globally.

We have about 400 million consumers globally who all use PayPal, Vemno or Honey.

And that gives us a tremendous amount of transaction data about our consumers horizontally across all of our merchants.

Is it on a PayPal transaction page? Or is it on their own website?

Right.

Yeah.

And I would even argue that this kind of trend is actually even accelerating with AI.

Yeah, because what happens right now is, and we see that now right now happening for publishers, which is more and more consumers, right? They no longer go to Google and then get linked out to a publisher.

They actually stay on Google websites, right? And they get the answer on Google themselves, or they get the answer on ChatGPT or Perplexity, right? But for them, for consumers, it's no longer the need to go to a publisher to actually get the answer to the question that they have.

And as a result of that, many publishers lose up to 30, 40% of traffic that originally came from Google.

And what's happening is the same is going to happen for merchants as well.

You know, I think we've talked to some about like, what are retailers need to think about and what are they working on? But I think it's, it's also so important of like, you know, the people spending here, what do they care about? Like, and so what do you see changing kind of in how brands and agencies are approaching retail media in general? Like what are they looking at from a measurement perspective or which retailers are they gravitating towards and spending with?

So what is

PayPal? So PayPal is PayPal itself, right? We all use PayPal to make online transactions.

Bemno is also part of the PayPal organization.

So many people use Bemno as a platform, right, to transact with friends and family and friends.

or small things here or there.

It's also a social platform, which I think is really cool.

So a lot of people actually use Vemno to share with their friends what they're doing.

So is that a core part of the ads business moving forward?