With a market share of 45.39%, PayPal maintains its position as the top player in online payment processing, surpassing rivals like Stripe and Shopify Pay Installments.
Further, as of Q2 2024, PayPal’s global user base has reached 429 million, though it has experienced a slight 0.5% decrease from the previous year.
With millions of users worldwide, PayPal continues to be the trusted platform for secure and seamless online transactions.
This article covers the latest facts and figures about PayPal’s user statistics and market performance.
Paypal Statistics 2024: Top Highlights
- 429 million people use PayPal globally.
- PayPal leads the payment processing market, holding a 45.39% share.
- The United States has the highest number of PayPal users, with 278.1 million.
- PayPal hosts over 30 million merchant accounts.
- The company currently employs 29,900 people.
- PayPal is accepted in more than 202 countries and regions.
How Many People Use PayPal?
As of Q2 2024, 429 million people worldwide use PayPal, reflecting a minor 0.5% year-over-year decline.
However, when compared to Q1 2024, where the platform had 427 million users, the number of PayPal users has increased by 2 million. At the close of 2023, PayPal had reported a user count of 426 million.
Here is a table displaying the number of PayPal users by quarter:
| Quarter | PayPal Active Accounts |
|---|---|
| Q2 2024 | 429 million |
| Q1 2024 | 427 million |
| Q4 2023 | 426 million |
| Q3 2023 | 428 million |
| Q2 2023 | 431 million |
| Q1 2023 | 433 million |
| Q4 2022 | 435 million |
| Q3 2022 | 432 million |
| Q2 2022 | 429 million |
| Q1 2022 | 429 million |
Source: Statista.
PayPal Usage By Country
The United States has the highest number of PayPal users at 278.1 million
Following closely is Germany, with 137.7 million users, securing the second spot. The United Kingdom ranks third, with 56.2 million users. Italy and France are also among the top five countries with the most PayPal users.
The following table displays the number of PayPal users by country:
| Country | Number Of PayPal Users |
|---|---|
| United States | 278.1 million |
| Germany | 137.7 million |
| United Kingdom | 56.2 million |
| Italy | 21.9 million |
| France | 20.5 million |
Source: World Population Review.
PayPal Market Share
PayPal is the leading payment processing technology, capturing 45.39% of the market.
Stripe follows in second place with a 17.33% share, while Shopify Pay Installments ranks third with a 15.73% market share.
The following table displays the market share owned by PayPal and other competitors.
| Company Name | Market Share |
|---|---|
| PayPal | 45.39% |
| Stripe | 17.33% |
| Shopify Pay Installments | 15.73% |
| Amazon Pay | 2.89% |
| Stripe Checkout | 1.22% |
| Braintree | 1.21% |
| Afterpay | 1.21% |
| remise | 1.08% |
Source: Statista.
PayPal owns 59.63% of the market share in the United States.
At the same time, Stripe owns only 14.49% of the market share in the United States.
The following table displays the market share of PayPal and its competitors in the United States.
| Company Name | Percentage Of Market Share Owned By The Company |
|---|---|
| PayPal | 59.63% |
| Stripe | 14.49% |
| Authorize.Net | 2.58% |
| Square Payments | 2.26% |
| Braintree | 2.44% |
| Amazon Pay | 4.45% |
The market capitalization value of PayPal is reported to be $63.59 billion.
PayPal is the 7th largest fintech company worldwide.
Here is a table showing the biggest Fintech companies in the world by Market Cap:
| Fintech Company | Country | Market Capital |
|---|---|---|
| Visa | United States | $570.85 billion |
| Mastercard | United States | $442657 billion |
| Tencent | China | $346.63 billion |
| Intuit | United States | $185.83 billion |
| Fiserv | United States | $89.83 billion |
| Ant Financial | China | $78.54 billion |
| PayPal | United States | $63.59 billion |
| Stripe | Ireland | $50 billion |
| Nubank | Brazil | $50 billion |
| Square | United States | $45.85 billion |
| Adyen | Netherlands | $45.36 billion |
Source: Companies Market Cap.
PayPal Users Demographics
56% of Americans reported that they have a PayPal account.
At the same time, 2 million people in the United Kingdom said they have a PayPal account. Besides, 75% of Europeans trust PayPal over other payment services.
Children make up to 9% of PayPal users in the United States.
Besides, 85% of Gen X online consumers in the United States have reported using PayPal before.
97% of the PayPal users worldwide are Millennials.
Meanwhile, 25% of PayPal users are aged 25 to 34, and 19% are aged between 35 to 44 years. The remaining 14% are below the age of 24.
Sage Recommends: Insights Into Generation Alpha
PayPal Revenue Statistics
PayPal generated a revenue of $8.02 billion in Q4 2023.
This is an increase of 8.67% year-on-year.
The following table displays the revenue earned by PayPal over the past quarters.
| Quarter | Revenue Generated | Year-on-year Percentage |
|---|---|---|
| Q4 2023 | $8.02 billion | 8.67% |
| Q3 2023 | $7.41 billion | 8.33% |
| Q2 2023 | $7.28 billion | 7.05% |
| Q1 2023 | $7.04 billion | 8.6% |
| Q4 2022 | $7.38 billion | 6.7% |
| Q3 2022 | $6.85 billion | 10.7% |
| Q2 2022 | $6.81 billion | 9.1% |
| Q1 2022 | $6.48 billion | 7.5% |
| Q4 2021 | $6.92 billion | 13% |
| Q3 2021 | $6.18 billion | 13.2% |
| Q2 2021 | $6.24 billion | 18.6% |
| Q1 2021 | $6.03 billion | 30.6% |
| Q4 2020 | $6.12 billion | – |
Source: Statista, PayPal.
At the end of 2023, PayPal generated a revenue of $29.7 billion.
This was an increase of 2.2 billion as compared to the past year. In 2022, the revenue generated by PayPal was reported to be $27.5billion.
The following table displays the revenue generated by PayPal over the past years.
| Year | Revenue |
|---|---|
| 2023 | $29.7 billion |
| 2022 | $27.5 billion |
| 2021 | 25.3 billion |
| 2020 | 21.4 billion |
| 2019 | 17.7 billion |
| 2018 | 15.4 billion |
| 2017 | 13 billion |
| 2016 | 10.8 billion |
Source: Business of apps, PayPal.
Profit Earned By PayPal
PayPal generated a net income (loss) of $1,402 million in the fourth quarter of 2023.
This was an increase of 52.22% compared to the previous year and an increase of over $382 million compared to the past quarter.
Here are further details about the net income and net loss recorded by PayPal over the years:
| Quarter | Net Income (loss) | Year-on-year Percentage Change |
|---|---|---|
| Q4 2023 | $1,402 million | 52.22% |
| Q3 2023 | $1,020 million | -23.3% |
| Q2 2023 | $1,029 million | 401.8% |
| Q1 2023 | $795 million | 56.2% |
| Q4 2022 | $921 million | 15% |
| Q3 2022 | $1,330 million | 4% |
| Q2 2022 | – $341 million | -128.8% |
| Q1 2022 | $509 million | -53.6% |
| Q4 2021 | $801 million | -48.9% |
| Q3 2021 | $1,087 million | 6.5% |
| Q2 2021 | $1,184 million | -22.6% |
| Q1 2021 | $1,097 million | 1,206% |
Source: Statista, PayPal.
PayPal Merchant Account
There are over 30 million merchant accounts on PayPal.
This is an increase of 6 million merchant accounts compared to the year 2019.
The following table displays the number of merchant accounts over the past years.
| Year | Account |
|---|---|
| 2023 | 30 million |
| 2022 | 29 million |
| 2019 | 24 million |
| 2018 | 21 million |
| 2017 | 18 million |
| 2016 | 15 million |
| 2015 | 13 million |
Paypal Acceptance Rate
PayPal is accepted in more than 202 countries and regions around the world.
PayPal supports 25 major currencies, from the US dollar to the Japanese Yen.
PayPal Transaction
24.981 billion payment transactions were processed by PayPal in 2023.
The following table displays the number of transactions processed by PayPal over the past years.
| Year | Transactions |
|---|---|
| 2022 | 22.3 billion |
| 2021 | 19.3 billion |
| 2020 | 15.4 billion |
| 2019 | 12.4 billion |
| 2018 | 9.9 billion |
Source: Business of Apps.
PayPal Transaction Per Account
PayPal recorded 58.7 transactions per account in 2023.
This is an increase of 13% compared to the previous year.
Here are further details about the PayPal payment transactions per account.
| Year | Transaction Per Account |
|---|---|
| 2023 | 58.7 |
| 2022 | 51 |
| 2021 | 45 |
| 2020 | 40 |
| 2019 | 40 |
| 2018 | 36 |
| 2017 | 33 |
| 2016 | 31 |
Source: Business of apps, PayPal.
PayPal Payment Volume
PayPal’s payment volume was $376.54 billion in the 2nd quarter of 2023.
This is an increase of 10.8% compared to the previous year. Meanwhile, the payment volume was recorded to be $354.51 billion in the first quarter of 2023.
Here are further details about the PalPals’s payment volume.
| Quarter | Value Of Payments Processed | Year-On-Year Change |
|---|---|---|
| Q4 2023 | 409.83 billion | 14.66% |
| Q3 2023 | 387.70 billion | 15.05% |
| Q2 2023 | 376.54 billion | 10.8% |
| Q1 2023 | 354.51 billion | 9.8% |
| Q4 2022 | 357.4 billion | 5% |
| Q3 2022 | 336.97 billion | 8.7% |
| Q2 2022 | 339.79 billion | 9.3% |
| Q1 2022 | 322.98 billion | 13.1% |
| Q4 2021 | 339.53 billion | 22.5% |
| Q3 2021 | 309.91 billion | 25.6% |
| Q2 2021 | 310.99 billion | 40.3% |
| Q1 2021 | 285.45 billion | 49.8% |
PayPal Payment Volume crossed $1 trillion in the year 2021.
Meanwhile, the platform generated $1.36 trillion in 2022 and 1.25 trillion in 2021.
Here are further details about the payment volume PayPal has recorded over the past few years.
| Year | Payment Volume |
|---|---|
| 2022 | 1360 billion |
| 2021 | 1250 billion |
| 2020 | 936 billion |
| 2019 | 712 billion |
| 2018 | 578 billion |
| 2017 | 451 billion |
Source: Business of apps, PayPal.
How Many Websites Use PayPal?
Approximately 19.91 million websites use the PayPal Payment option worldwide.
Of these, 10.71 million are live sites that use PayPal. Besides, the highest number of websites in the United States use PayPal for online transactions.
The following table displays the number of websites in different countries that use PayPal for online transactions.
| Country | Number Of Websites That Use PayPal |
|---|---|
| United States | 1,744,312 |
| United Kingdom | 580,617 |
| Germany | 380,185 |
| Australia | 328,362 |
| Brazil | 255,244 |
| Canada | 233,947 |
| France | 202,568 |
| Italy | 163,584 |
| Japan | 162,696 |
| Netherlands | 112,629 |
Source: Built with trends
PayPal Employee Statistics
29,900 employees work at PayPal.
While in the year 2021, the number of employees was 30,900. The number of employees decreased in 2022 due to the layoffs based on the rising recession in the United States.
The following table displays the number of employees in PayPal over the past years.
| Year | Number of PayPal Employees |
|---|---|
| 2022 | 29,900 |
| 2021 | 30,900 |
| 2020 | 26,500 |
| 2019 | 23,200 |
| 2018 | 21,800 |
| 2017 | 18,700 |
Source: Statista.
PayPal Consumer Statistics
- Consumers said that they are 54% more likely to make an online purchase if the merchant accepts PayPal.
- $485 is reported to be the average PayPal balance of an American Consumer.
- 66% of PayPal consumers reported that they shop only from domestic merchants.
- 65% of the mobiles with mobile payment apps have PayPal installed in them.
- 26% of the cross-border purchases on PayPal are reported from China.
PayPal Acquisitions
PayPal has launched several subsidiaries in the last decade.
These subsidiaries of PayPal are made to expand the financial services within reach of customers and merchants and fulfill all their needs.
The key subsidiaries of PayPal are as follows:
| Year | Acquisitions |
|---|---|
| 2008 | Fraud Sciences, Bill Me Later |
| 2011 | Where.com, FigCard, Zong |
| 2012 | card.io |
| 2013 | IronPearl, Braintree, Venmo, StackMob |
| 2015 | Paydiant, CyActive, Xoom Corporation, Modest Inc |
| 2017 | TIO Networks, Swift Financial |
| 2018 | Jetlore, iZettle, Hyperwallet, Simility |
| 2019 | GoPay, Honey |
| 2021 | 2021, Chargehound, Happy Returns, Paidy |
PayPal acquired Honey for $4 billion in the year 2019.
Honey helps people to shop online and discover the best deals. The platform also assists the users to earn cashback.
Users have saved over $1 billion with the help of the platform.
Here are further details about the top acquisition of PayPal.
- Honey: $4 billion
- Braintree: $800 million
- Xoom: $800 million
- iZettle: $2.2 billion
PayPal Trends 2024
- The digital and mobile wallet payments are forecasted to reach 53% of online transactions worldwide in 2024.
- The CFO of PayPal reported that they do not expect the total number of active accounts to grow in the year 2024.
- Due to the recession in the United States, PayPal’s growth would likely be impacted.
- According to analysts, there may be an increase in the total payment volume by 10.7%, and it may reach $1.68 trillion in the year 2024.
- The blockchain market is expected to cross $39 billion in size by 2025.
PayPal Fraud Statistics
PayPal fraud rate is between 0.17 and 0.18 percent of its revenue.
It represents a loss of more than 1 billion dollars in a year.
Bonus: Check out ecommerce fraud statistics for further insights into other e-commerce frauds.
Conclusion: Paypal Is Used By 429 Million People Worldwide
As of Q2 2024, PayPal is used by 429 million people worldwide. Despite a modest 0.5% decrease in its user base compared to the previous year, PayPal still dominates the digital payment space, holding a significant 45.39% market share.
The United States leads with the highest number of users, at 278.1 million, while over 30 million merchants trust PayPal for secure transactions. With a dedicated workforce of 29,900 employees and operations in more than 202 countries and regions, PayPal’s influence and reach in the online payment industry remain undeniable.
