PayPal Holdings Inc. launched PayPal Ads ID to provide a new identifier for the digital advertising market. The solution utilizes deterministic identity signals derived from 400 million PayPal and Venmo accounts.
The platform targets audiences using data from 25 billion transactions. PayPal encrypts and de-identifies this information to protect specific transaction details.
The company is entering the advertising space to build new revenue streams following a period of stock decline. This initiative aims to solve industry-wide identification challenges in a post-cookie environment. Initial partners for the service include Magnite, PubMatic, Rokt, and Taboola.