Maybe you’re thinking about opening a PayPal account, or perhaps you’re already a long-time user. For whatever reason you’ve stumbled upon our article on the latest PayPal statistics, we bet you’ll find them eye-opening and useful.
If you’re ready to find out everything there is to know about the most extensive online payment system in the world, you’re in the right place. In a nutshell, you’ll find data on PayPal users, employees, current trends, and many other juicy details.
So, let’s begin.
Top 10 PayPal Statistics for 2021
- PayPal is expected to have 750 million users by 2025.
- Venmo represents 65 million of PayPal’s users.
- 67% of small businesses in Canada accept online payments.
- Currently, the number of merchant accounts on PayPal is 28 million.
- PayPal One Touch had 50 million active users in 2017.
- The total yearly PayPal revenue was $22.45 billion in 2019.
- In 2020, the total payment volume processed by PayPal was $1.18 trillion.
- In 2019, the net income of PayPal was US$0.39 a share.
- PayPal had over 23,000 employees representing over 140 nationalities in 2019.
- The company covers 26 currencies.
General PayPal Statistics
The following section features statistics and facts ranging from PayPal’s user demographics to its ongoing trends. You’ll also find some compelling information about the One Touch feature.
1. The number of total PayPal active users in 2020 reached 377 million.
These stats show that the number of active PayPal users continued to grow in 2020 by almost 24% year-over-year. Interestingly, stats on PayPal revenue from 2020 reveal that the company’s most extensive form of revenue was from transactions – most recently, these generated an estimated $23.8 billion.
2. In just three years after PayPal launched, its individual user base was 10.2 million, facts about PayPal show.
The premise of PayPal was straightforward from the beginning. By sharing their email address and credit card number or banking data, users can engage in rapid, affordable transactions.
Quickly enough, PayPal became one of the leaders in the personal finance business with over US$3 billion in payments.
3. Based on PayPal user statistics, the company is expected to have 750 million users by 2025.
(The Financial Brand)
Due to the global coronavirus pandemic, more and more consumers are turning to digital payments to evade cash or cards. Not only is PayPal’s user base forecasted to double by 2025, but the annual growth rate is projected to increase by 20% over the next four years. Moreover, the payment volume will likely triple.
4. By the end of 2018, 36% of retailers in North America had accepted PayPal as a payment method.
Not only that, but another 34% were preparing to accept PayPal by 2020. Following that, shopping for gifts or any other items for that matter has become even more comfortable.
Regarding mobile payment volumes, PayPal numbers from 2018 revealed that annual volumes amounted to over $284 billion. In essence, this represented a 46% growth compared to 2017.
5. Venmo represents 65 million of PayPal’s users.
(The Financial Brand)
In the US, at least, Venmo’s average user base is noted to be more well off and younger than the conventional user. Nevertheless, PayPal stats show that Venmo, the PayPal-owned mobile payment service, represents almost one-third of PayPal users and just 4% of its total revenues.
6. Currently, the number of merchant accounts on PayPal is 28 million.
Business is a piece of cake for merchants, thanks to PayPal.
Based on the latest PayPal business account statistics, many merchants like the fact that there are no contracts and no monthly charges. Moreover, PayPal offers a wide array of tools to help customers shop online easier.
7. PayPal One Touch had 50 million active users in 2017.
These PayPal user trends from 2017 indicate that the One Touch user base had more than doubled since 2016, when the count was 21 million. According to the former COO of the company, Bill Ready, these numbers revealed that PayPal One Touch was the most quickly accepted product in the company’s existence.
8. In 2016, 76% of online users in the US utilized the PayPal payment app.
Judging by these stats on PayPal, the PayPal payment app was the most popular digital wallet in the United States in 2016, distantly followed by Amazon Payments (24% of online users), VisaCheckout (15%), Google Wallet (14%), and Apple Pay (9%). Other digital wallets that year included Android Pay, MasterCard PayPass, and Amex Express Checkout.
9. Newer stats on the PayPal percentage of online sales conversions show that 87.5% of customers using the service at checkout will make a purchase.
(Build Your Dream)
Meanwhile, the same stats show that Visa Checkout leads to 51.2% of online conversions, and 45.6% of people using alternative methods will ultimately make a purchase. Overall, this data proves that PayPal remains a favourable option when it comes to online shopping.
10. 18% of surveyed smartphone users in Canada used PayPal in 2016.
The survey followed a total of 4,000 smartphone users in Canada. According to these Canadian PayPal statistics, this percentage is up from 10% the previous year. What we can deduce from these figures is that PayPal’s use is slowly increasing in Canada year-by-year.
PayPal Financial Trends
The following section includes statistics and facts relevant to PayPal’s current financial state and what this means for the company. For instance, we’ve featured information on the total yearly revenue and net income.
11. Stats on PayPal users in 2020 show that the total payment volume processed by PayPal was US$936 billion.
Statistics on the annual payment volume of PayPal reveal steady growth since 2012 (when the total payment volume was US$150.07 billion).
Venmo was one of the areas where PayPal witnessed immense total payment volume growth. A payment volume growth of more than 50% was recorded by the P2P payment service in 2020 – this currently accounts for around 15% of PayPal’s total volume.
12. PayPal’s total yearly revenue was $22.45 billion in 2019, based on recent PayPal sales stats.
(2019 Global Impact Report) (PayPal)
What’s more, this figure represented a 15% increase from 2018’s total revenue. Besides this, 88% of PayPal Business Loan borrowers witnessed a boost in revenue in the initial three months after admitting their loan.
13. In 2020, it was forecasted that 19.7% of Canada’s population would be peer-to-peer mobile payment users.
In the case of mobile commerce, Paypal stats from 2020 claimed that a significant percentage of Canada’s population (an estimated 6 million individuals) would become users of P2P mobile payments. In contrast, it was forecasted that 30.6% of the US population would use P2P payments.
As a note, Paypal and Visa joined forces in 2019 to launch the Instant Transfer feature in Canada – it’s supported by Visa Direct.
14. In August 2019, the company’s stock price was US$108 ($136.67), PayPal key statistics reveal.
Looking at the company’s timeline, just five years ago, PayPal’s share price was a mere US$53. This means that since then, the stock price more than doubled. It even showed a significant increase from 2018’s US$85.
It’s also interesting to note that in 2019, the market share of PayPal was a touch more profitable than in 2018, when the company’s revenue per share was only US$0.36.
This means that the adjustment-based earnings rose to US$0.58 a share in 2018 and US$0.61 a share in 2019, after modifying for stock-based payments and other expenditures.
16. 67% of small businesses in Canada accept online payments.
Based on the latest Canadian PayPal statistics, the global coronavirus pandemic has boosted ecommerce for small businesses in Canada. In fact, two in three businesses accept online payments, and nearly half (47%) of them just began doing so in 2020.
Moreover, of the Canadian small businesses offering online payment options, 34% began selling online after the coronavirus was proclaimed a global pandemic (March 2020).
17. PayPal’s payment cost is 2.9% plus $0.30 in Canada.
(Awesome Web Designs)
Additionally, these PayPal invoice facts show that with international clients, the user will have to pay a PayPal rate of 4.4% with a fixed price based on the region. If you’re a PayPal user living outside of Canada or the United States, inquire about your country’s PayPal regulations on the official website to learn more about specific PayPal invoicing prices.
PayPal Employee Stats
PayPal strives to make its workforce as versatile and diverse as possible, and this is reflected in the following statistics.
18. 57% of PayPal’s total workforce are men, based on PayPal employee statistics.
(2019 Global Impact Report) (PayPal)
Moreover, 72% of technical roles are taken by men, while 65% of leadership/director roles belong to men.
Men may outnumber women in the PayPal workforce, data on the PayPal percentage of female employees shows; however, based on previous years, there’s been a 6% increase in female tech roles.
19. In 2019, PayPal had over 23,000 employees representing over 140 nationalities based in over 30 countries.
(2019 Global Impact Report) (PayPal)
PayPal believes that the only way everyone can fully partake in the digital economy is by prioritizing inclusion, equity, and diversity. Hence, this company created a workplace that celebrates the versatility of its workers’ talents, capabilities, and experiences.
Not only that, but PayPal maintains total pay equity in wages globally for both genders.
Interesting Facts About PayPal
Believe it or not, an astounding 67% of millennials in Canada use PayPal for their online payments. Now, it’s high time we looked into other fascinating facts about this payment system. Without further ado, let’s dive right in!
20. PayPal accidentally credited one person’s account with over US$92 quadrillion in 2013.
Crazy enough, this man’s account balance would have made him the richest man alive. Let’s take Jeff Bezos for the sake of comparison – the CEO of Amazon is currently worth US$184.6 billion!
In the end, PayPal fixed the error and, in apology, expressed willingness to donate to a cause chosen by the account holder.
21. New PayPal users got awarded US$10 ($12.65) for joining the platform during its earliest stage, PayPal facts show.
Were you wondering how PayPal got so many customers so quickly? Wonder no more – PayPal gave away cash to earn a profit!
Moreover, these users got an additional US$10 any time they directed a new customer to the platform. Smart thinking, right?
22. The company covers 26 currencies, from the Canadian dollar to the Hungarian forint.
As previously mentioned in these PayPal statistics, PayPal is an international company focused on diversity. Customers can use any currency, including the Euro, US dollar, Canadian dollar, Chinese renminbi, Mexican peso, and Swiss franc.
All in all, the statistics on PayPal support what we all know: even though competitors have threatened the online payment system’s popularity, PayPal remains a user favourite. Be it shopping at Walmart or any other major store—you are bound to have a pleasant purchase experience.
Finally, we want to hear your thoughts on this well-known company – do you like its services or not? Feel free to leave your answer below!
Which country uses PayPal the most?
PayPal is highly popular in North America. In fact, when Canadians don’t pay using their bank card, they turn to PayPal, followed by prepaid cards and cash. It’s also the second most popular method of payment in the US. Other countries where PayPal is popular include Argentina, Brazil, Chile, and China.
How many merchants use PayPal?
Currently, PayPal has 28 million merchants and 361 million customers with active accounts. One of the reasons PayPal is gaining popularity is that users can introduce PayPal as their sole means of accepting payments or as an alternative option.
What are the benefits of a PayPal account?
There are many benefits PayPal has to offer. Some of the most important ones include the following:
- Account and purchase protection
- Ability to pay for anything at millions of stores across 203 global markets
- Fast and simple transactions
- PayPal scam percentage is only 0.32%
- PayPal One Touch allows users to pay with only a password
- Chance to earn and redeem rewards
- Multiple payment methods can be linked to PayPal
What is the difference between PayPal and PayPal Business?
Both personal and business PayPal accounts let the user receive and send payments. However, there are a couple of notable differences between these two account types.
A business account is recommended for merchants who work under a group or company name. Besides offering a customer service email alias for solving customer issues faster, it allows limited access to the account for a maximum of 200 employees.
A personal account is recommended for people who want to make a purchase and pay online or receive or send payments for certain shared expenses.
Is PayPal good for a small business?
Yes, using PayPal for a small business is a fantastic idea. As suggested, PayPal offers many benefits, including accepting online payments in your business office or store via a phone or even a mobile card reader.
Besides being able to process payments with the vast majority of debit cards and credit cards, PayPal has zero setup fees, monthly fees, and cancellation costs.
Does PayPal Business report to the IRS?
Yes, under IRC Section 6050W, the company must report the complete payment volume to the IRS that US account users have received.
Can you have 2 PayPal accounts?
Yes, a user can have one Business (or Premier) account and one Personal account. Moreover, a user can add several email addresses, bank accounts, and credit/debit cards to an account. Each account must have separate financial data and email addresses.
Can I switch my PayPal from business to personal?
Yes, you can change your PayPal from Business to Personal, but you can’t do it by yourself. To clarify, you must contact customer service and request the change. Fortunately, this is a simple process: click on the Contact/Help button on the PayPal page and choose your country’s contact options.
Is PayPal a profitable company?
Yes, PayPal is a profitable company. Based on statistics depicting the company’s revenue between 2010 and 2020, its most substantial growth was in 2020, with its yearly income increasing by more than 20%. Recent PayPal statistics reveal that transaction revenues were the company’s largest revenue segment, amounting to an estimated $23.8 billion.
- 2019 Global Impact Report
- Awesome Web Designs
- Build Your Dream
- Business Insider
- Business Wire
- CNN Business
- Market Watch
- Merchant Maverick
- PayPal Community
- The Financial Brand
- The Street