80+ PayPal Statistics You Need to Know – Revenue, Users, and More in 2024

Paypal Subsidiary	Year Acquired	Description
Braintree	2013	Provides merchants with an account and gateway to process transactions online
Venmo	2013	One of the most popular mobile peer-to-peer payment services in the United States
Xoom	2015	Online facilitator of money and mobile transfers across the globe
iZettle	2018	Supplier of chip card readers, also provides payments solutions for small businesses
Honey	2019	A browser extension that aggregates e-commerce coupons and discounts

PayPal spent $3.25 billion on technology and development in 2022.

This is up from $3 billion in 2021 and $2.6 billion in 2020. PayPal is committed to staying at the cutting edge of technology to better serve its customers.

In 2022, PayPal increased its total renewable energy use to 90% and maintained 100% renewable energy for its global data centers. 

By focusing on efficient and renewable energy use and partnering with its largest vendors to manage emissions across its supply chain, PayPal aims to achieve net-zero greenhouse gas emissions across its value chain by 2040.

As a founding member of the FIDO Alliance, PayPal is one of the first in the industry to make FIDO authentication available to customers.

FIDO Authentication, developed by the FIDO Alliance, is a global authentication standard based on public key cryptography. With FIDO Authentication, users sign in using phishing-resistant credentials, known as passkeys. Passkeys are more secure than passwords and SMS OTPs, simpler for customers to use, and easier for service providers to deploy and manage. Since launching in October 2022, over 1 million PayPal accounts use passkeys.

PayPal Timeline and History

PayPal has had a significant impact on e-commerce, making it easier and more convenient for businesses and consumers across the world to conduct transactions online. Let’s explore PayPal’s rise to market dominance below.

• 1998 – Confinity is founded by Ken Howery, Luke Nosek, Max Levchin, and Peter Thiel to provide secure software for financial transactions on hand-held devices. When this fails to take off, the company switches its focus to a digital wallet, enabling secure payments online.
• 1999 – The first version of an electronic payments system known as PayPal is launched.
• 2000 – In March 2000, Confinity merges with X.com, an online financial services company founded by Elon Musk, Harris Fricker, Christopher Payne, and Ed Ho in 1999. 
• 2001 – Confinity officially becomes PayPal and gains over 1 million users, largely driven by online sellers on eBay.
• 2002 – PayPal goes public and is later acquired by eBay to become its official payment provider.
• 2005 – PayPal acquires VeriSign’s payment gateway business.
• 2007 – PayPal partners with MasterCard to develop PayPal Secure Card service, a software allowing customers to make payments on websites that don’t accept PayPal directly. 
• 2008 – PayPal launches Bill Me Later/PayPal Credit, allowing online sellers to offer deferred payments to consumers.
• 2010 – PayPal breaches 100 million active user accounts in 190 markets and 25 different currencies.
• 2011– PayPal breaches over 100 million active users in 190 markets and 25 currencies. PayPal Mobile for smartphone payments is launched.
• 2012 – A partnership with Discover Card is forged, allowing PayPal payments to be made at any of the seven million stores in the Discover network.

• 2013 – PayPal acquires Braintree and Venmo. PayPal Working Capital is also launched, giving businesses access to the capital they need in a way that’s faster and easier than traditional loans.
• 2014 – On September 30, 2014, eBay announces it will spin off PayPal into a separate publicly traded company. 
• 2015 – PayPal separates from eBay, goes public, and starts trading as “PYPL” on the Nasdaq. Xoom joins PayPal. Dan Schulman joins PayPal as CEO.
• 2016 – PayPal announces partnership with Visa, providing consumers with even more payment choices.
• 2017 – PayPal acquires Swift Financial to expand its small business financing solutions.
• 2018 – PayPal acquires Zettle to provide in-store shopping, Hyperwallet to expand payout capabilities, and Simility to enhance fraud detection.
• 2019 – PayPal becomes the first foreign payment platform to be approved for online payment services in China.
• 2020 – PayPal acquires Honey to help drive savings and rewarding shopping experiences.
• 2021– PayPal and Venmo launch a new digital wallet service, Checkout with Crypto is launched and PayPal acquires Paidy to expand into the buy now pay later market in Japan.
• 2022 – PayPal introduces Passkeys to replace passwords and undergoes a global brand refresh.
• 2023 – PayPal adds new features to its complete payments solution for online small businesses. In addition to a range of payment methods, such as PayPal, Venmo, and PayPal Pay Later, Apple Pay is now an option.

PayPal Product Stats

PayPal operates a global, two-sided network that simplifies commerce experiences for consumers and merchants globally. PayPal’s customers can connect, transact, and send and receive payments, whether online or in person.

The company’s proprietary payment solutions are accepted by merchants, enabling the completion of payments on its platform on behalf of customers. 

PayPal’s Payment solutions fall under four main categories: checkout, processing, digital wallets, and merchant services. The key product offerings under these categories include:

• PayPal (Digital Wallet, PayPal Credit, Pay in 4, and Pay Monthly)
• Braintree
• Venmo
• Xoom
• Zettle
• Hyperwallet
• Honey
• Happy Returns
• Paidy

PayPal 

PayPal’s core offering is an app and website that acts as a digital wallet. The online payment platform facilitates payments between individuals and businesses.

PayPal is available in over 200 markets around the world.

In addition to its global presence, PayPal supports 25 major currencies.

In 2022, PayPal processed 22.3 billion payment transactions.

The number of payment transactions represents the total number of payments completed on PayPal’s platform, excluding reversals and gateway-exclusive transactions. This is up 16% from 2021.

In 2022, PayPal processed $1.36 trillion in total payment value (TPV).

TPV is the value of payments, less payment reversals, that are successfully completed on PayPal’s payments platform or enabled by PayPal via a partner payment solution. This is up 9% from 2021.

In 2022, PayPal processed an average of 41 million transactions every single day.

This is up 20.58% from 2019, when an estimated 34 million transactions were processed daily. The growth in transactions can be attributed to the increase in remote work brought on by the pandemic. 

As of May 2023, over 17.3 million websites globally use PayPal.

Over 1 million websites use PayPal in the US, the company’s largest market. In the UK, (PayPal’s second largest market) just over 300,000 websites use PayPal. In third place is Germany, where 291,640 websites use PayPal. Overall, PayPal is accepted by 79% of the largest retailers in North America and Europe.

In 2022, PayPal enhanced its complete payments solution for small to medium-sized businesses.

This has simplified checkout options and given merchants more payment choices to improve customer experience and help drive checkout completions.

PayPal maintained a 2.9% average international remittance cost in 2022.

This remains below the 2030 target of 3% set in the U.N. Sustainable Development Goals.

PayPal facilitated more than $4 billion to small and medium-sized businesses globally in 2022.

PayPal continues to focus on enabling equitable access to capital for entrepreneurs from underserved communities and has facilitated over 1.2 million loans since 2013.

In 2022, PayPal expanded its automated self-service portal globally.

This has given customers in over 200 markets the ability to exercise their individual right to manage their personal data and marketing choices.

In 2022, PayPal helped save customers more than $35 million.

Through its Risk-as-a-Service suite of products, PayPal helped protect merchants from fraud and reduce their financial losses across multiple countries, including Australia, Brazil, and the US.

PayPal maintained a transaction loss rate of 0.09% in 2022.

Transaction loss rate represents transaction losses (including expenses associated with buyer and seller protection programs, fraud, and chargebacks) divided by total payment volume.

PayPal’s buyer and seller protection programs continue to protect merchants and consumers from fraud and counterparty nonperformance. These combined efforts have helped the payment giant maintain a low transaction loss rate.

PayPal Credit

PayPal Credit, formerly Bill Me Later, is a revolving credit card account that gives approved users the flexibility to pay for their purchases later.

PayPal Credit customers are assigned a credit line of at least $250, but no more than $12,000.

This is based on certain approval criteria and creditworthiness as determined by Synchrony Bank. 

Customers pay no interest if they settle their account within six months. 

In addition to no annual fee to use PayPal Credit, customers who settle within six months aren’t charged interest on their purchases.

PayPal Pay Later

PayPal’s Pay-in-4 and Pay Monthly are installment solutions that empower customers to make the purchases they want and need. 

77% of PayPal customers using buy now, pay later say that PayPal makes checkout faster.

Additionally, 60% of buy now, pay later (BNPL) users have completed more than two transactions using the service. 

75% of millennial PayPal Pay Later users are repeat users.

However, by 2025, eMarketer predicts that Gen X and Boomers will make up about one-third of BNPL users.

Braintree

Braintree services allow merchants to accept payments via mobile and in-app. One of its biggest customers is Uber, the ride-sharing giant. 

PayPal acquired Braintree in 2013.

eBay acquired Braintree for $800 million, strengthening PayPal’s position as an online payments leader and securing its future trajectory. 

Venmo

Venmo is a mobile peer-to-peer payment platform with a social media twist. PayPal absorbed the platform when it acquired Braintree in 2013.

As of 2023, there are over 2 million Venmo business profiles.

While largely regarded as an app for sending money to friends, splitting bills, and paying for subscriptions, Venmo continues to see more businesses sign up to use the platform.

PayPal launched the Venmo Business Grant Program in 2022.

This is an initiative designed to support emerging and small business owners using Venmo Business Profiles. 

Venmo surpassed 52 million active users in 2020.

Venmo’s user base increased from 3 million users in 2015 to over 52 million in 2020. 

Venmo had nearly $63 billion worth of total payment value at the end of Q4 2022.

This is compared to $60 million in Q4 2021.

Xoom

Xoom is a PayPal service that allows customers to send money to friends and family around the world. Xoom users have the option to send money to a bank account, debit card, or mobile wallet. They can also send cash for pick up or home delivery, 

PayPal acquired Xoom in 2015 for $890 million.

To disrupt the international remittances industry and expand its global operations, PayPal acquired Xoom for $25 a share in cash.

PayPal expanded Xoom’s Debit Card Deposit feature in 2022.

According to PayPal, the feature is now available in 27 markets across Europe, Latin America, the Middle East, and Asia, enabling more customers to make low-cost international money transfers to friends and family.

Hyperwallet

Hyperwallet by PayPal helps organizations send mass payments to contract workers, claimants, freelancers, and sellers around the world.

PayPal acquired Hyperwallet for $400 million in 2018.

The acquisition served to strengthen PayPal’s payout capabilities and enhance its ability to provide an integrated suite of payment solutions to e-commerce platforms and marketplaces around the world.

PayPal launched the Hyperwallet Original Credit Transaction to select markets in Europe in 2022.

The service supports large businesses and marketplaces in delivering quick and secure payments to contract workers, freelancers, and others, helping payees receive earned money almost instantly. 

PayPal Zettle

PayPal Zettle builds commerce tools, such as mobile card readers and point-of-sale apps that enable small businesses to accept card payments, track sales, and manage stock levels.

PayPal acquired Zettle in 2018.

The $2.2 billion deal was a move to expand into the retail payment terminals business in international markets and compete with firms like Square Inc and Adyen.

In 2022, PayPal extended the availability of the Zettle Terminal Mobile point-of-sale device to merchants in the US.

The move was part of its commitment to expand the global availability of select products to help deliver a flexible in-store checkout experience.

Tap to Pay with Zettle was launched in the Netherlands, Sweden, the UK, and additional markets across Europe in 2022.

The new features allow individual sellers and small businesses to accept contactless payments in person on their Android mobile devices with no additional fees.

Happy Returns

Happy Returns by PayPal is a returns software and reverse logistics solution that delivers a comprehensive returns solution for online merchants. The platform allows customers to make returns of items purchased online, in person at selected Return Bars across the US.

PayPal acquired Happy Returns in 2021. 

For an undisclosed sum, PayPal acquired Happy Returns to provide customers with more value-added services and to strengthen its position in the online shopping industry.

Happy Returns Return Bar network has expanded to nearly 9,000 box-free return locations.

As of 2023, 87% of Americans live within 10 miles of a Return Bar. 

Happy Returns partnered with Shopify to launch Return Shopping in 2022.

This free feature allows Shopify merchants to re-engage customers during the return process, waive processing fees on returns, and offer customers discounts to incentivize the purchase of new items from their websites.  

PayPal Honey

Honey is a suite of online shopping tools that help customers discover deals and earn rewards while shopping at participating sites.

PayPal acquired Honey for $4 billion in 2020.

PayPal’s largest acquisition to date has given the company access to younger millennial shoppers earlier on in the shopping journey as opposed to checkout. With Honey, PayPal is tapping into the deal discovery process as well.

Honey has over 30,000 participating merchants.

The average discount on Honey is 17.92% and with such an extensive network of participating merchants, Honey users saved over $200 million in 2022.

Honey has over 17 million members.

With access to PayPal’s active user base of over 400 million users, Honey’s members are expected to grow over the next few years. 

Paidy

Paidy is a two-sided payment service, acting as a middleman between consumers and merchants in Japan. Consumers have access to buy now, pay later facilities and are able to make easy purchases using only an email address and phone number.  

PayPal acquired Paidy for $2.7 billion in 2021.

With the acquisition of Paidy, PayPal aims to enhance its business in Japan and tap into the Asian BNPL market.

Paidy had more than 4 million active accounts in 2022. 

This is up 25% from 2021.

PayPal Revenue Statistics

PayPal splits its revenues into two categories: transaction revenues and revenues from other value-added services.

Transaction revenues include:

• Transaction fees charged to merchants and consumers for payments completed on its platform. 
• Additional fees from merchants and consumers on transactions, currency conversions, and cross-border transactions. 
• Fees on instant transfers of funds from PayPal or Venmo accounts to bank accounts or debit cards.
• Fees from facilitating the purchase and sale of cryptocurrencies.
• Other miscellaneous fees.

Revenues from other value-added services include: 

• Revenue earned through partnerships
• Referral fees
• Subscription fees
• Gateway fees
• Other services provided to merchants and consumers
• Interest and fees earned on loans receivable
• Interest earned on certain assets underlying customer balances

Q1 2023 Revenue Statistics:

According to PayPal’s Q1 2023 report:

• Total revenue for the first quarter of 2023 grew 9% at spot and 10% FXN.
• Transaction revenue increased by 6% in the first quarter of 2023, largely driven by Braintree.
• Other Value-Added Services revenue increased by 39% due to interest on customer balances and credit. 
• Technology and development expenses decreased by 9%.
• Total payment value (TPV) increased by 10% on a spot basis and 12% FXN.
• PayPal processed 5.8 billion or 13% more transactions in Q1 2023.

PayPal generated $27,52 billion in net revenues in 2022.

Net revenues increased by 8% or $2.1 billion in 2022 due to the growth in total payment volume. 

PayPal’s annual revenue has increased by close to 200% since 2015.

PayPal has seen steady revenue growth since its IPO in 2015. PayPal’s annual revenue was $9.25 billion in 2015 and grew to $27.518 billion in 2022. This represents an increase of over 197% in 7 years. 

In 2022, PayPal had a net profit of $2.42 billion.

PayPal’s net profit fell by 42% or $1.75 billion from $4.17 billion in 2021 to $2.42 billion in 2022. 

Net Revenues by Category 

Transaction revenues accounted for 92% of total net revenues in 2022.

Transaction revenues accounted for 92% in 2021, while they accounted for 93% of total revenues in 2020.

Revenues from other value-added services accounted for 8% of total net revenues in 2022. 

This is compared to 7% in both 2021 and 2020.

Transaction revenues increased by 8% in 2022.

Because of the growth in PayPal’s unbranded card processing volumes and Venmo products and services, transaction revenues increased by $1.8 billion or 8% to $25.2 billion in 2022. 

Revenues from other value-added services increased by 17% in 2022.

Due to an increase in interest earned on certain assets and other factors, PayPal’s revenues from other services amounted to $2.3 billion. This is an increase of $343 million or 17% from 2021. 

Net Revenues by Geographical Segment

In 2022, the US market accounted for 57% of PayPal’s total net revenues.

This is up from 54% in 2021 and 51% in 2020. The US market continues to be PayPal’s largest profit driver. 

The UK market accounted for 8% of PayPal’s total net revenues in 2022. 

This is down from 9% in 2021 and 11% in 2020. Despite the downward trend in revenue, the UK market remains a key market for PayPal. 

Other countries accounted for 35% of PayPal’s total net revenues in 2022. 

According to PayPal, no single country included in the other countries category generated more than 10% of total revenue. This category also shows a downward trend as revenue generation in 2022 is down from 37% in 2021 and 38% in 2020.

PayPal Demographics

PayPal reported 433 million active users in its Q1 2023 quarterly results. 

This represents a slight decrease in PayPal’s active user base from the last quarter of 2022, but an increase of 2% year-over-year. The payment giant reported that 35 million active accounts were merchants and that 45% of all active accounts were outside the US.

As of Q1 2023, the average account transacted 53 times on PayPal.

Transactions per active account (TPA) saw a 13% increase year-on-year, driven primarily by Braintree transaction growth.

Users over 50 represent PayPal’s fastest-growing user base. 

The 2020 pandemic and shifts in consumer attitudes toward online shopping have given rise to a growing older customer base for PayPal.

Year	Total number of PayPal users (millions)
2013	132
2014	152
2015	179
2016	197
2017	218
2018	244
2019	286
2020	377
2021	426
2022	435

PayPal Product/Service	Competitors
PayPal core	Google Pay Apple Pay  Wise
PayPal Credit	PayPal Affirm Klarna
Braintree	Stripe Block (formerly known as Square) Adyen Revolut
iZettle	GoCardless SumUp Adyen
Venmo	Skrill Zelle WePay Payoneer
Honey	Qoala Upside Fetch PriceRunner
Hyperwallet	Remitly Paysera PayOp NETELLER
Xoom	XE Money Transfer Moneygram Wise WorldRemit
Happy Returns	Return Logic Saara Boomerang Optoro

Rank	Company	Country	Market Cap ($)
1	Visa	United States	462.3 billion
2	Mastercard	United States	353.6 billion
3	Tencent (FinTech business)	China	167.2 billion
4	Ant Financial	China	151.0 billion
5	Intuit	United States	118.5 billion
6	Paypal	United States	80.6 billion
7	Fiserv	United States	72.7 billion
8	Stripe	Ireland	55.0 billion
9	Adyen	Netherlands	48.5 billion
10	Nubank	Brazil	41.5 billion