Introduction
PayPal Statistics: We as humans, today are behind in technological developments and love the fastest lifestyle. Nowadays the majority of people are making online payments using various applications in the market. PayPal is one of the most used online payment applications available with millions of websites. Online shopping has done easier with such kinds of payment applications. In this PayPal Statistics, we will have an insight into knowing PayPal, its general statistics, its features, and a comparison between the two best online payment services, PayPal, and Stripe.
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- Considering the daily transactions, more than 5,00,000 users use it in the United States of America.
- In the year 2022, PayPal has 426 million accounts with 392 million active users
- According to PayPal statistics, 55% of the employees are millennials.
- Users in the United States of America use PayPal for buying and selling of cryptocurrencies.
- On a surprising note, in the United States of America children under the age of 18 are using PayPal services resulting in 9%.
- Surprisingly, 90% of the residents in Germany use PayPal for online transaction
- There are around 4,60,000 websites that support PayPal. Whereas, the United Kingdom has 1,03,590 websites supporting the PayPal platform.
- Around 41 million transactions are conducted every day
- The recorded high stock rate per share in the year 2021 was $308.53
What is PayPal?
PayPal is an American multinational financial service provider based out of San Jose, California. PayPal features online money transfers across countries and local areas. It was founded in the year 1998.PayPal is being used for digital marketing in terms of outdoor advertising, Facebook, TV commercials, and display advertisements
How PayPal works?
Initially, while creating an account users have to provide details about his/her credit card, debit card, or any other bank account details. After which every information is verified by PayPal company. Upon Successful verification, a user can at the same moment transfer $10,000 in a single transaction.
- An account user can use an email address or mobile number for transferring the amount. Both of the functions are available on their website and mobile application.
- Online shopping can also be done with this application if a website has a payment gateway of PayPal.
- It takes only a few minutes to complete the whole transaction
- Business owners, having an email ID can opt for any financial service with PayPal’s platform to avail of a loan, or any other business management solutions
PayPal is safe to use as the company protects the privacy of the customer by not disclosing personal information.
Features of PayPal
PayPal is a majorly used online payment platform around the world. Its seamless features are supporting a competitive world with an increasing number of users around the world. Following are some of the features of PayPal.
- PayPal is one of the leading online payment applications around the world which has its services in almost all regions.
- The platform supports 25 currencies
- Millions of websites have PayPal options supporting online shopping
- Users feel secure while using the application
- It has low conversion rates and needs less documentation for creating the accounts
- Local and international payment
PayPal Statistics
- In the United States of America, PayPal is one of the most used online payment platforms.
- Around 90% of the users are using PayPal on regular basis.
- PayPal’s platform supports around 25 currencies spread over 200 regions
- According to PayPal statistics, 55% of the employees are millennials
- Other PayPal statistics show that a user on average completes 40 transactions every year
- In the year 2022, PayPal has 426 million accounts with 392 million active users
- The recorded high stock rate per share in the year 2021 was $308.53
- PayPal owns around 50.32% of the market in the online payment category
- PayPal offers $5 in exchange for a key code generator, with the help of which accounts can be secured.
- Considering the daily transactions, more than 5,00,000 users use it in the United States of America.
- Other PayPal statistics state that as of the year 2021, more than 1.6 million websites are supporting PayPal for online payment processing.
- There are around 4,60,000 websites that support PayPal. Whereas, the United Kingdom has 1,03,590 websites supporting the PayPal platform.
- Germany, France, and Italy also have thousands of websites resulting in 77.422, 57.855, and 55.403 respectively
- The websites which use PayPal account for 30% of the United States of America and 70% of the world
- Checkout conversion means completion of purchasing activity during the browsing session is higher in the case of PayPal transactions resulting in 70%.
- 57% of the PayPal employees are male while 43% belongs to female employees
- Remote workers and freelancers are top users of the PayPal platform
- PayPal grabs the market of online transactions about 22% in the United States of America
- According to PayPal Statistics, 87.5% of users prefer PayPal while shopping online
- A user of PayPal has an average of $485 amount in their accounts
- PayPal’s other service PayPal one touch which lets users pay with just one click is being used by more than 80 million people around the world
- PayPal share’s data of users with companies like Facebook, Google, and Apple
- According to the research, 59% of the users left payment hanging as there was no PayPal option for online payment processing
- Surprisingly, 90% of the residents in Germany use PayPal for online transaction
- 16% of PayPal’s transactions resulted in 19 billion were international payments
(https://www.wallstreetzen.com/stocks/us/nasdaq/pypl/statistics)
Blue represents the United States of America, Yellow represents the United Kingdom, and light blue represents the rest of the world.
- In the year 2021, revenue received from the United States of America is around $25,371 billion, whereas the United Kingdom provided revenue of $ 2,34 billion and the rest of the world has a $9.32 billion share in the revenue
- There are 2 million PayPal users in the United Kingdom
- Around 41 million transactions are conducted every day
- Users from the age group of 41 to 56 use PayPal more than any other age group
- Around 75% of Europeans have believed in PayPal services
- Businesses that have online transactions in North America have a market share of 25%
- Users in the United States of America use PayPal for buying and selling of cryptocurrencies
- Vice presidents from different countries of PayPal offices account for 63% of the male employees
- There are around 64% of the male employees on their board of directors
- PayPal’s payment value as of the year 2021 is $1.250 trillion
- On a surprising note, in the United States of America children under the age of 18 are using PayPal services resulting in 9%.
- According to PayPal statistics, the application is installed on 2 out of 3 smartphones
- In the year 2021, around 19.3 billion transactions took place using the platform
- Other than the United States of America, PayPal statistics show that the platform is also famous in Italy, China, Australia, South Korea, India, and Canada
(https://www.wallstreetzen.com/stocks/us/nasdaq/pypl/statistics)
- On the other hand, PayPal’s working culture supports diverse talents from different countries. According to the reports, PayPal above mentioned percentage of employees.
- On the other hand, PayPal also focuses on hunting talent continuously as in the year 2021, the company hired around 30,900 people
- Out of which 13,100 employees were based in the United States of America
- It can be said that PayPal is not a physical bank carrying out usual processes but conducts such types of services over the internet to all people around the world.
(https://www.wallstreetzen.com/stocks/us/nasdaq/pypl/statistics)
- Moreover, the above chart explains that PayPal spent $10.32 billion in transaction expenses, $2.4 billion in sales and marketing, and $2.08 billion in customer support and operations in the year 2021.
- Furthermore, $3.04 billion were spent on technology and development, $1.06 billion were accounted for transaction and loan/credit losses and general administrative expenses were around $2.11 billion in the same 2021.
- Users get chargebacks by using PayPal’s debit cards
- PayPal allows receiving money by means of email address as well as phone numbers
- Gift cards received on PayPal can be exchanged for cash
- The platform is similar to a digital wallet.
- Users are enabled to buy Bitcoin with the platform
- Once PayPal was stuck in a scam where under its name a random message was sent to many people called ‘You’ve been paid.
- There are around 7 million companies around the world that support PayPal online payment option
- PayPal do not charge for any online shopping, but it charges fees for immediate transfers
- Money can be transferred by means of a PayPal account, only if another party has an account on the same platform
| Characteristic | Number of transactions (in millions) | Year-on-year percentage change (%) |
|---|---|---|
| Q2 2022 | 5,513 | 16.4 |
| Q1 2022 | 5,161 | 18.1 |
| Q4 2021 | 5,343 | 21.2 |
| Q3 2021 | 4,900 | 22.1 |
| Q2 2021 | 4,735 | 26.5 |
| Q1 2021 | 4,371 | 34 |
- The above chart explains the processed payments in million as per the quarters of years.
- In the first and second quarters of the year 2021, PayPal processed around 4,371 million and 4,735 million transactions respectively with a changing percentage of 34% and 26.5%
- Moreover, the third and fourth quarters recorded 4,900 million and 5,343 million transactions each with a rate of 22.1% and 21.2%.
- As of 2022, in the first quarter, the total transaction held were 5,161 million at the rate of 18.1%
- And the second quarter of the year 2022 recorded 5,513 with the lowest percentage of 16.4%.
- According to recent news, PayPal will charge a fine of $2,500 for users who spread misinformation.
PayPal VS Stripe
PayPal and Stripe are both tough competitors. Both of them are online payment platforms enabling international payment for online shopping. We will see some comparison between these two companies by identifying the main features.
PayPal
- PayPal has 3.5 stars according to Forbes advisor
- The transaction fees range from 1.90% to 3.50%
- It also has excellent customer service
- Online shoppers can use credit cards, pay later option, cryptocurrencies, and Venmo
- PayPal’s chargeback fees are $20
- For international transactions, the platform charges 1.50% for any kind of transfer based on currency
- Most famous companies supported by the platform are WooCommerce, Wix, BigCommerce, GoDaddy, Magento
- Customers can receive a refund in the full amount
- Moreover, it offers a live chat service but has no blog system
Stripe
- As per Forbes Advisor Stripe has 4.2 stars for overall service
- Payments can be done in more than 135 countries
- Stripe is also called a developer app, therefore it offers a wide range of developing features
- Stripe has 2.9% plus 30 cents of transaction cost
- The platform uses a machine-learning algorithm to protect customers from fraud
- Stripe’s chargeback is $15
- Stripe does not refund any of the amounts
- Stripe’s biggest customers are WordPress, Shopware, Presta shop, and Drupal
- Stripe charges an extra 1% on international cards as well as more than 1% for currency conversion
- Stripe provides excellent customer service; it has chat and phone options along with blogs
Which online payment software is better?
It could depend on the size of the business. Asper the Forbes reviews if you run a small-scale business, PayPal is a great option for you. The procedure to set up the account is easy with less documentation. Moreover, it doesn’t offer any cost for opening the account. PayPal is similarly recognized in many countries with millions of websites.
On the other hand, Stripe is a developer app in terms of online payment applications. Large-scale businesses with frequent changes in their structure can go for Stripe as it will allow them to customize the payment gateways.
Conclusion
Every country is slowly advancing to digitalization. Just a few ago when online shopping was done only with the use of cash on delivery option, now it has been changed to pay later, pay on credit cards, and pay through UPIs with many other online payment platforms. PayPal is one of the most used online payment applications in many countries. As per PayPal Statistics, the United States of America is more than any of the countries. The PayPal platform is well-suited for small businesses. As competition is increasing because of technological developments, more and more payment options are being developed. It is up to the individual to use the payment platform which suits him/her the best.
ABOUT AUTHOR
Barry is a lover of everything technology and finance (FinTech). Figuring out how the software works and creating content to shed more light on the value it offers users is his favorite pastime. When not evaluating apps or programs, he's busy trying out new healthy recipes, doing yoga, meditating, or taking nature walks with his little one.
