49 PayPal Statistics 2024 (Demographics & Financials)

PayPal is one of the top Fintech Companies worldwide, with a market cap of $84.81 billion. The platform revolutionized the way of money transactions back in 1998. 

PayPal was quickly adopted by people across the globe, crossing the benchmark of 100 million users in 2006. Currently, the platform has 428 million active users.

Let’s take a look at PayPal’s insights and current state as of 2024 in this pot

Paypal Statistics 2024: Top Picks

  1. 428 million people use PayPal globally.
  1.  PayPal holds 40.52% of the global market share of the payment service segment. 
  1.  PayPal generated a revenue of $7.28 billion in the 2nd quarter of 2023.
  1.  6.07 billion PayPal payment transactions were processed in the second quarter of 2023.
  1.  The Total Payment Volume of PayPal was $376.54 billion in the 2nd quarter of 2023.
  1.  PayPal recorded 53.1 transactions per account on average in the 2nd quarter of 2023.
  1.  There are 29 million merchant accounts on PayPal in 2023.  
  1. The current workforce at PayPal stands at 29,900 employees.
  1.  More than 200 countries and regions accept PayPal

About PayPal:

Launch dateDecember 1998
Founder Dan Schulman (CEO, President), John Donahoe (Chairman)
HeadquartersPalo Alto, California
Revenue generated$27.5 billion (FY 2022)
Active users431 million
Total payment volume$337 billion
Number of payment transactions5.6 billion
Employees at PayPalMore than 29,900

How Many People Use PayPal?

  1. 431 million people use PayPal worldwide. 

The number of active PayPal users declined in the third quarter of 2023 as well. The number reached 428 million in Q3 2023 from 435 million in the 4th quarter of 2022. 

Here are further details about the number of active PayPal users recorded over the past quarters. 

Quarter Active users/ Active accounts on PayPal
Q3 2023428 million
Q2 2023431 million
Q1 2023433 million
Q4 2022435 million 
Q3 2022432 million 
Q2 2022429 million 
Q1 2022429 million 
Q4 2021426 million 
Q3 2021416 million 
Q2 2021403 million 
Q1 2021392 million

Source: Statista. 

PayPal Market Share

  1. PayPal owns 40.52% of the global market share of the payment service segment.

The second-highest market share of online payment processing technologies belongs to Stripe, followed by Shopify Pay Installments. 

Market Share Owned By PayPal and Other Competitors

The following table displays the market share owned by PayPal and other competitors. 

Company namePercentage of market share owned by the company
PayPal40.52%
Stripe20.52%
Shopify Pay Installments13.8%
Amazon Pay4.91%
Afterpay1.58%
Other18.67%

Source: Statista.

  1. 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 namePercentage of market share owned by the company
PayPal59.63%
Stripe14.49%
Authorize.Net2.58%
Square Payments2.26%
Braintree2.44%
Amazon Pay4.45%
  1.  The market capitalization value of PayPal is reported to be $84.81 billion. 

PayPal is the 6th largest fintech company worldwide. Fiserv and Stripe follow it. 

Fintech CompanyCountryMarket Capital
VisaUnited States$465.13 billion
Mastercard United States$344.57 billion
TencentChina$187.92 billion
Ant FinancialChina$151 billion
IntuitUnited States$125.34 billion
PayPalUnited States$84.81 billion
Fiserv United States$70.98 billion
StripeIreland$55 billion
AdyenNetherlands$48.81 billion
Nubank Brazil$41.5 billion
SquareUnited States$41 billion

Source: Statista. 

Related Reads: Fintech Statistics

PayPal Users Demographics

PayPal Demographics
Source: PayPal

Source: PayPal

  1.  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. 

  1.  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.

  1.  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. 

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PayPal users worldwide

PayPal Statistics Infographics #2
Source: PayPal
  1.   Most PayPal users worldwide are from the United States.

249,297 people in the United States use PayPal. The second-highest and the third-highest PayPal users are in the United Kingdom and Germany. 

Here are further details about the number of PayPal users in different countries worldwide. 

CountryNumber of PayPal users
United States249,297
United Kingdom23,960
Germany11,794
Canada11,591
Australia7,399

Source: 6sense, PayPal.

  1.   PayPal is used by 51% of people for payment in stores, restaurants, etc., in Germany. Besides, it is used by 92% of people for online payments. 

On the other hand, 37% of people in the United Kingdom use PayPal for in-store payments, and 88% of people use it for online payments. 

The following table displays the usage of PayPal in various countries around the globe. 

CountryStores, restaurants, and other POSOnline payments
Germany51%92%
United Kingdom37%88%
Australia31%84%
Austria30%84%
Italy0%91%
France0%90%
Spain0%89%
Canada0%87%
Mexico0%86%
Brazil0%86%
South Africa0%84%
United States0%82%

PayPal Revenue StatisticsSource: PayPal

PayPal Financial Statistics Infographics
Source: PayPal
  1. PayPal generated a revenue of $7.28 billion in the 2nd quarter of 2023. 

This is an increase of 7% year-on-year as compared to the previous quarter. However, the revenue declined significantly compared to the last quarter of 2022. 

The following table displays the revenue earned by PayPal over the past quarters.

QuarterRevenue generated Year-on-year percentage 
Q2 2023$7.28 billion7.1%
Q1 2023$7.04 billion8.6%
Q4 2022$7.38 billion6.7%
Q3 2022$6.85 billion10.7%
Q2 2022$6.81 billion9.1%
Q1 2022$6.48 billion7.5%
Q4 2021$6.92 billion13%
Q3 2021$6.18 billion13.2%
Q2 2021$6.24 billion18.6%
Q1 2021$6.03 billion30.6%
Q4 2020$6.12 billion23.4%

Source: Statista, PayPal.

  1. At the end of 2022, PayPal generated a revenue of $27.5 billion. 

This was an increase of 2.2 billion as compared to the past year. In 2021, the revenue generated by PayPal was reported to be $25.3 billion. 

Revenue Generated By PayPal Over the Past Years

The following table displays the revenue generated by PayPal over the past years. 

YearRevenue
2022$27.5 billion
202125.3 billion
202021.4 billion
201917.7 billion
201815.4 billion
201713 billion
201610.8 billion

Source: Business of apps, PayPal.

Profit Earned by PayPal

  1. PayPal generated a net profit of $1,029 million in the second quarter of 2023. 

This was an increase of 401.8% compared to the previous year and an increase of over $234 million compared to the past quarter. 

Here are further details about the net income and net loss recorded by PayPal over the past years. 

QuarterNet incomeYear-on-year percentage change
Q2 2023$1,029 million401.8%
Q1 2023$795 million56.2%
Q4 2022$921 million15%
Q3 2022$1,330 million4%
Q2 2022– $341 million-128.8%
Q1 2022$509 million-53.6%
Q4 2021$801 million-48.9%
Q3 2021$1,087 million6.5%
Q2 2021$1,184 million-22.6%
Q1 2021$1,097 million1,206%

Source: Statista, PayPal. 

  1. PayPal earned a profit of $2.4 billion by the end of 2022. 

PayPal witnessed a decrease in its profit by almost 50% compared to the year 2021. In 2021, the platform generated a net profit of 4.1 billion.

The following table displays the profit earned by PayPal over the past years. 

YearProfit earned by PayPal
2022$2.4 billion
2021$4.1 billion
2020$4.2 billion
2019$2.4 billion
2018$2 billion
2017$1.8 billion

Source: Business of apps, PayPal.  

PayPal Merchant Account

PayPal Merchant Statistics
Source: PayPal
  1. There are approximately 29 million merchant accounts as of 2023. 

This is an increase of 5 million merchant accounts compared to the year 2019. 

The following table displays the number of merchant accounts over the past years. 

YearAccount
202229 million
201924 million
201821 million
201718 million
201615 million
201513 million

Paypal Acceptance Rate

  1.  PayPal is accepted in more than 200 countries and regions around the world.

PayPal supports 25 major currencies, from the US dollar to the Japanese Yen.  

  1. . More than 16.8 million websites accept PayPal. 

Over 71% of the e-commerce websites in the United States accept PayPal as of 2023. 

PayPal Transaction

  1. 6.07 billion payment transactions were processed by PayPal in the second quarter of 2023. 

5.83 billion transactions were processed by the platform in 1st quarter.

Transactions Processed By PayPal Over the Past Years

The following table displays the number of transactions processed by PayPal over the past years. 

YearTransactions
202222.3 billion
202119.3 billion
202015.4 billion
201912.4 billion
20189.9 billion

Source: Business of Apps. 

PayPal Transaction Per Account

  1. PayPal recorded 53.1 transactions per account in the first quarter of 2023.

This is an increase of 13% compared to the previous year.

Here are further details about the PayPal payment transactions per account.

YearTransaction per account
2023 (as of Q1)53.1
202251
202145
202040
201940
201836
201733
201631

Source: Business of apps, PayPal. 

PayPal Payment Volume 

  1. 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.  

QuarterValue of payments processedYear-on-year change 
Q2 2023376.54  billion10.8%
Q1 2023354.51 billion9.8%
Q4 2022357.4 billion5%
Q3 2022336.97 billion8.7%
Q2 2022339.79 billion9.3%
Q1 2022322.98 billion13.1%
Q4 2021339.53 billion22.5%
Q3 2021309.91 billion25.6%
Q2 2021310.99 billion40.3%
Q1 2021285.45 billion49.8%
  1. 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 of PayPal recorded over the past years. 

YearPayment Volume 
20221360 billion
20211250 billion
2020936 billion
2019712 billion
2018578 billion
2017451 billion

Source: Business of apps, PayPal. 

How many websites use PayPal? 

  1. 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. 

Websites in different countries that use PayPal for online transactions

The following table displays the number of websites in different countries that use PayPal for online transactions.

CountryNumber of websites that use PayPal
United States1,744,312
United Kingdom580,617
Germany380,185
Australia328,362
Brazil255,244
Canada233,947
France202,568
Italy163,584
Japan162,696
Netherlands112,629

Source: Built with trends

PayPal Employee Statistics

  1. 29,900 employees worked at PayPal as of 2023.  

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. 

YearNumber of PayPal employees
202229,900
202130,900
202026,500
201923,200
201821,800
201718,700

Source: Statista. 

  1.  PayPal announced layoffs of 200 workers in February 2023. 

This was approximately equal to 7% of its workforce. 

Source: Wikipedia. 

  1. There were 56.2% of males, 43.7% of females, and 0.04% of non-binary employees working in PayPal in the year 2021.

The following table shows the percentage of female and male employees working at PayPal. 

YearFemaleMale
202143.7%56.2%
202043%57%
201943%57%
201842%58%
201743%57%

Source: Statista. 

  1. 45.2% of the employees at PayPal are while 33% are Asian. The following table displays the ethnicity of the PayPal workers. 
EthnicityPercentage of employees
White45.2%
Asian33%
Hispanic/Latin X8.6%
Black or African American7.4%
American Indian or Alaska Native0.3%
Native Hawaiian or Pacific Islander0.3%
Two or more races2.5%

Source: Statista

PayPal Consumer Statistics

  1. Consumers said that they are 54% more likely to make an online purchase if the merchant accepts PayPal. 
  1. $485 is reported to be the average PayPal balance of an American Consumer. 
  1. 66% of PayPal consumers reported that they shop only from domestic merchants. 
  1. 65% of the mobiles with mobile payment apps have PayPal installed in them. 
  1. 26%  of the cross-border purchases on PayPal are reported from China. 

PayPal Acquisitions

  1. 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 fulfil all their needs. 

The key subsidiaries of PayPal are as follows: 

YearAcquisitions 
2008Fraud Sciences, Bill Me Later
2011Where.com, FigCard, Zong
2012card.io
2013IronPearl, Braintree, Venmo, StackMob
2015Paydiant, CyActive, Xoom Corporation, Modest Inc
2017TIO Networks, Swift Financial
2018Jetlore, iZettle, Hyperwallet, Simility
2019GoPay, Honey
20212021, Chargehound, Happy Returns, Paidy
  1. 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 History

  1. Let us take a look at the History of PayPal and what it has achieved in the past years. 
2023PayPal launched a U.S. dollar stablecoin (type of cryptocurrency) called PayPal USD for transfers and payments. 
2022Shopify Partnered with PayPal. 
2021PayPal and Venmo launched a new digital wallet service. Paidy joined PayPal. 
2020PayPal donated more than $535 million to support Black communities in the United States. Honey joined PayPal. 
2019PayPal became the first foreign service to be approved in China. 
2018PayPal acquired Zettle, Hyperwallet, and Simility. 
2017Swift Financial joined PayPal
2016PayPal announced a partnership with Visa. 
2015PayPal has become an independent company once again. Xoom joined PayPal, making it easy for international transactions. 
2013Braintree and Venmo are added to PayPal’s family. 
2011PayPal has more than 1000 million active users. It has expanded to 190 countries and can be used in 25 currencies. 
2008BillMe later joined the PayPal family. 
2002PayPal joined eBay and became its official payment provider. 
2000PayPal has more than 1 million users. 
1999Confinity was renamed PayPal
1998Confinity was established for digital payments for consumers and businesses. 

Source: PayPal

PayPal Trends 2023

  1.  The digital and mobile wallet payments are forecasted to reach 53% of online transactions worldwide by 2024. 
  1. The CFO of PayPal reported that they do not expect the total number of active accounts to grow in the year 2023. 
  1. Due to the recession in the United States, PayPal’s growth would likely be impacted. 
  1. According to analysts, there may be an increase in the total payment volume by 9.5%, and it may reach $1.49 trillion in the year 2023. 
  1. The blockchain market is expected to cross $39 billion in size by 2025. 
  1.  Retail ecommerce sales in the United States and worldwide are predicted to grow by 14.55% and 11.35%, respectively, between  2022 and 2023. 

PayPal Fraud Statistics

  1.  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.

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