PayPal pioneered the way people do digital transactions today. Being one of the top fintech companies globally, PayPal has a market cap of $62.84 billion.
The platform reached the benchmark of 100 million users in 2006 and currently has 426 million active users.
This massive user base clocked in 24,981 million transactions in 2023 alone.
Let’s take a look at PayPal’s insights and current state as of 2024 in this post.
Top Picks: Paypal Statistics In 2024
- 426 million people use PayPal globally.
- PayPal holds 40.52% of the global market share of the payment service segment.
- PayPal generated a revenue of $29.771 billion in 2023.
- 24.981 billion PayPal payment transactions were processed in 2023.
- PayPal recorded 58.7 transactions per account on average in 2023.
- There are over 30 million merchant accounts on PayPal as of 2023.
- The current workforce at PayPal stands at 29,900 employees.
- More than 202 countries and regions accept PayPal.
About PayPal
| Launch date | December 1998 |
| Founder | Dan Schulman (CEO, President), John Donahoe (Chairman) |
| Headquarters | Palo Alto, California |
| Revenue generated | $27.5 billion (FY 2022) |
| Active users | 426 million |
| Total payment volume | $1.52 trillion |
| Number of payment transactions | 24.981 billion |
| Employees at PayPal | More than 27,200 |
How Many People Use PayPal?
- 426 million people use PayPal worldwide.
The number of active PayPal users declined in the fourth quarter of 2023 as well. The number reached 426 million in Q4 2023 from 428 million in the 3rd quarter of 2023.
Here are further details about the number of active PayPal users recorded over the past quarters.
| Quarter | PayPal Active Accounts |
|---|---|
| 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 |
| Q4 2021 | 426 million |
| Q3 2021 | 416 million |
| Q2 2021 | 403 million |
| Q1 2021 | 392 million |
Source: Statista.
PayPal Market Share
- 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 (20.52%), followed by Shopify Pay Installments.
The following table displays the market share owned by PayPal and other competitors.
| Company name | Percentage of market share owned by the company |
|---|---|
| PayPal | 40.52% |
| Stripe | 20.52% |
| Shopify Pay Installments | 13.8% |
| Amazon Pay | 4.91% |
| Afterpay | 1.58% |
| Other | 18.67% |
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.
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PayPal Users Worldwide
- Most PayPal users worldwide are from the United States.
250,391 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.
| Country | Number of PayPal Users |
|---|---|
| United States | 250,391 |
| United Kingdom | 25,102 |
| Germany | 12,712 |
| Canada | 12,114 |
| Australia | 8,248 |
- PayPal is used by 63% of people in Germany for payment in stores, restaurants, etc. Besides, it is used by 86% of people for online payments.
On the other hand, 29% of people in the United Kingdom use PayPal for in-store payments, and 81% of people use it for online payments.
The following table displays the usage of PayPal in various countries around the globe.
| Country | Stores, restaurants, and other POS | Online Payments |
|---|---|---|
| Mexico | 63% | 86% |
| Germany | 49% | 91% |
| United States | 58% | 80% |
| Italy | 45% | 88% |
| Brazil | 48% | 82% |
| Spain | 40% | 86% |
| France | 37% | 85% |
| Austria | 33% | 83% |
| Canada | 31% | 82% |
| United Kingdom | 29% | 81% |
| Australia | 27% | 81% |
| Netherlands | 24% | 70% |
| Poland | 0% | 80% |
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 | – |
- 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
- 27,200 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.
- 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.
| Year | Female | Male |
|---|---|---|
| 2021 | 43.7% | 56.2% |
| 2020 | 43% | 57% |
| 2019 | 43% | 57% |
| 2018 | 42% | 58% |
| 2017 | 43% | 57% |
Source: Statista.
- 45.2% of the employees at PayPal are while 33% are Asian.
The following table displays the ethnicity of the PayPal workers.
| Ethnicity | Percentage of Employees |
|---|---|
| White | 45.2% |
| Asian | 33% |
| Hispanic/Latin X | 8.6% |
| Black or African American | 7.4% |
| American Indian or Alaska Native | 0.3% |
| Native Hawaiian or Pacific Islander | 0.3% |
| Two or more races | 2.5% |
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 History
- Let us take a look at the History of PayPal and what it has achieved in the past years.
| 2023 | PayPal launched a U.S. dollar stablecoin (type of cryptocurrency) called PayPal USD for transfers and payments. |
| 2022 | Shopify Partnered with PayPal. |
| 2021 | PayPal and Venmo launched a new digital wallet service. Paidy joined PayPal. |
| 2020 | PayPal donated more than $535 million to support Black communities in the United States. Honey joined PayPal. |
| 2019 | PayPal became the first foreign service to be approved in China. |
| 2018 | PayPal acquired Zettle, Hyperwallet, and Simility. |
| 2017 | Swift Financial joined PayPal |
| 2016 | PayPal announced a partnership with Visa. |
| 2015 | PayPal has become an independent company once again. Xoom joined PayPal, making it easy for international transactions. |
| 2013 | Braintree and Venmo are added to PayPal’s family. |
| 2011 | PayPal has more than 1000 million active users. It has expanded to 190 countries and can be used in 25 currencies. |
| 2008 | BillMe later joined the PayPal family. |
| 2002 | PayPal joined eBay and became its official payment provider. |
| 2000 | PayPal has more than 1 million users. |
| 1999 | Confinity was renamed PayPal |
| 1998 | Confinity was established for digital payments for consumers and businesses. |
Source: PayPal
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.
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