Paypal Statistics & Trends 2024
Founded in 1998, PayPal has become a leading fintech platform, changing how we make online payments. What was once seen as a risky idea quickly proved its value, leading to eBay’s $1.5 billion purchase of the company in 2002. A key aspect of PayPal’s history involves Elon Musk, who co-founded X.com. His leadership in merging X.com with Confinity led to the creation of PayPal.
Today, PayPal operates in over 200 countries, supports 25 currencies, and handles $1.53 trillion in payments with 427 million active users, including 35 million merchants. PayPal’s revenue for the year ending March 31, 2024, was $30.43 billion, showing an 8.39% increase from the previous year.
Discover more about PayPal’s statistics and growth insights in our detailed analysis below.
PayPal Statistics (Top Picks)
- PayPal has 427 million active users and 35 million active merchants.
- As of Q4 2023, PayPal processed six billion transactions, totaling $1.53 trillion.
- PayPal earned $30.43 billion in revenue as of March 31, 2024.
- The platform holds a 45.4% market share in online payment processing.
- PayPal operates in 200+ countries, supporting 25 currencies.
PayPal Overview
Sources: Statista, PayPal, Companies Market Cap
How Does PayPal Work?
PayPal works by handling digital payments worldwide, having processed over $1.5 trillion in payments as of Q4 2023. It makes online payments easy for businesses and individuals. Merchants can quickly add PayPal to offer different payment options, while consumers benefit from secure and convenient transactions at millions of online stores.
Source: United States Securities And Exchange Commission
PayPal User and Usage Stats
PayPal's 427 million active user base includes a mix of demographics, with a significant portion being Millennials. The usage of the platform varies by country, with Germany and Mexico showing high online payment activity. See the detailed statistics below for more insights.
Number of PayPal Users
As of Q1 2024, PayPal has 427 million active users worldwide. Although PayPal's user count increased by 0.23% from the previous quarter, the platform experienced a year-over-year decrease of 1.4%.
PayPal’s user growth has been negative since Q1 2023, with the platform losing users for three quarters in a row. However, it has seen a positive side since the previous quarter.
Here is a table showing PayPal's active users over the years:
| Quarter | PayPal Users | Percentage Change |
| Q1 2024 | 427 million | -1.4% |
| Q4 2023 | 426 million | -2.1% |
| Q3 2023 | 428 million | -0.9% |
| Q2 2023 | 431 million | 0.5% |
| Q1 2023 | 433 million | 0.9% |
| Q4 2022 | 435 million | 2.1% |
| Q3 2022 | 432 million | 3.8% |
| Q2 2022 | 429 million | 6.5% |
| Q1 2022 | 429 million | 9.4% |
| Q4 2021 | 426 million | 13% |
| Q3 2021 | 416 million | 15.2% |
| Q2 2021 | 403 million | 16.5% |
| Q1 2021 | 392 million | 20.6% |
Source: Statista
PayPal User Demographics
56.48% of PayPal users are male while 43.52% are female.
If we divide PayPal users by age group we see that the platform's largest user age group is 25 to 34 years old. On the other hand, people aged over 65 make up the smallest user share on the platform.
Here is a table showing PayPal's user distribution by age group:
| Age Group | Percentage |
| 18-24 | 19.02% |
| 25-34 | 27.56% |
| 35-44 | 18.96% |
| 45-54 | 15.59% |
| 55-64 | 11.34% |
| 65+ | 7.53% |
Source: SimilarWeb
PayPal Pay In 4 Demographics
Pay in 4 is PayPal’s Pay Later option that lets customers split purchases into four interest-free payments. New research shows its popularity among all age groups.
In 2022, PayPal analyzed 289,000 US Buy Now Pay Later (BNPL) users and found:
- Millennials and Gen Z make up 51% of Pay in 4 users.
- Millennials are the most frequent BNPL users, averaging 42% across all providers.
- 68% of users prefer short-term installments over long-term ones.
- Baby Boomers are the least frequent BNPL users, with 12% average usage across providers.
Source: PayPal
PayPal Users by Country
PayPal is used more frequently for online payments in Mexico, Germany, and Italy than in the United States. In Mexico, 6 out of 10 consumers use PayPal in physical locations.
PayPal is used by 90% of consumers in Germany for online payments, making it the country with the highest number of digital PayPal payments.
Explore the table below to see the percentage of PayPal usage in stores and online across various countries:
| Country | Stores, Restaurants, Other POS (%) | Online (%) |
| Mexico | 63% | 82% |
| Germany | 49% | 90% |
| Italy | 48% | 88% |
| United States | 56% | 78% |
| South Africa | 50% | 80% |
| Spain | 41% | 86% |
| France | 38% | 86% |
| Austria | 34% | 80% |
| Canada | 33% | 80% |
| United Kingdom | 30% | 81% |
| Australia | 31% | 80% |
| Poland | 33% | 77% |
| Switzerland | 31% | 76% |
Source: Statista
How Many Merchants Use PayPal?
Currently, there are 35 million merchant accounts on PayPal, up by 169% from 2015 when the platform had 13 million active merchants.
PayPal’s revenue from merchant services reached $29.8 billion in 2023, marking an 8.19% year-on-year increase.
Here’s a brief overview of the growth in PayPal merchant accounts over the years:
| Year | PayPal Merchant Accounts |
| 2015 | 13 million |
| 2016 | 15 million |
| 2017 | 18 million |
| 2018 | 21 million |
| 2019 | 24 million |
| 2020 | 30 million |
| 2021 | 33 million |
| 2022 | 35 million |
| 2023 | 35 million |
Source: US Securities and Exchange Commission
Number of Websites Using PayPal
As of 2024, approximately 19.91 million websites worldwide use PayPal as a payment option, including around 10.71 million active sites.
Switzerland has the highest share of websites using PayPal, with 30.26% of all websites that offer at least one payment acceptance. India also shows a notable adoption rate, with 29.36% of websites using PayPal. This highlights PayPal’s growing presence in the Indian market.
Here is a table showing the number and share of websites using payment acceptance or processor technology by country:
| Characteristic | Number of Websites | Share of All Websites with Payment Technology (%) |
| United States | 1,055,029 | 9.29 |
| United Kingdom | 306,841 | 22.98 |
| Germany | 262,806 | 28.06 |
| Australia | 222,815 | 22.44 |
| Canada | 126,447 | 24.66 |
| Italy | 110,614 | 26.72 |
| Brazil | 110,446 | 14.69 |
| France | 98,566 | 23.98 |
| Netherlands | 75,598 | 23.74 |
| India | 71,902 | 29.36 |
| Russia | 65,769 | 18.04 |
| Spain | 61,640 | 23.22 |
| Switzerland | 47,694 | 30.26 |
Source: Statista
PayPal Revenue Statistics
PayPal reported revenue of $7.699 billion for Q1 2024, a 9.36% increase year-over-year.
For the twelve months ending March 31, 2024, the company’s revenue reached $30.430 billion, marking an 8.39% increase compared to the previous 12 months.
The table below shows PayPal’s revenue and growth metrics for Q1 2024:
| Metric | Value |
| Quarterly Revenue (Q1 2024) | $7.699 billion |
| Year-over-Year Growth (Q1 2024) | 9.36% |
| Trailing Twelve Months Revenue | $30.430 billion |
| Year-over-Year Growth (TTM) | 8.39% |
| Annual Revenue (2023) | $29.771 billion |
| Year-over-Year Growth (2023) | 8.19% |
Source: PayPal
PayPal Annual Revenue
PayPal’s annual revenue stands at $29.771 billion as of 2023, an 8.19% growth from 2022. This total includes $2.91 billion earned from other services. Non-transactional revenue saw a year-over-year growth of 26%. Over the last five years, PayPal’s revenue has experienced an annual growth rate of 14%.
Here is a decade-long overview of PayPal’s annual revenue and growth:
| Fiscal Year End | Revenue | Change | Growth |
| 2023 | $29.77B | $2.25B | 8.19% |
| 2022 | $27.52B | $2.15B | 8.46% |
| 2021 | $25.37B | $3.92B | 18.26% |
| 2020 | $21.45B | $3.68B | 20.72% |
| 2019 | $17.77B | $2.32B | 15.02% |
| 2018 | $15.45B | $2.36B | 18.00% |
| 2017 | $13.09B | $2.25B | 20.77% |
| 2016 | $10.84B | $1.59B | 17.24% |
| 2015 | $9.25B | $1.22B | 15.24% |
| 2014 | $8.03B | $1.30B | 19.30% |
| 2013 | $6.73B | $1.07B | 18.81% |
Source: Business of Apps
PayPal Quarterly Revenue
As of Q1 2024, PayPal reported a quarterly revenue of $7.7 billion, a 9% increase from the previous year. PayPal’s non-GAAP earnings per share (EPS) also rose by 27% from the previous year, reaching $1.08.
Explore the table below for PayPal’s quarterly revenue figures:
| Quarter | Revenue (Millions of US $) |
| Q1 2024 | $7,699 |
| Q4 2023 | $8,026 |
| Q3 2023 | $7,418 |
| Q2 2023 | $7,287 |
| Q1 2023 | $7,040 |
| Q4 2022 | $7,383 |
| Q3 2022 | $6,846 |
| Q2 2022 | $6,806 |
| Q1 2022 | $6,483 |
| Q4 2021 | $6,918 |
| Q3 2021 | $6,182 |
| Q2 2021 | $6,238 |
| Q1 2021 | $6,033 |
| Q4 2020 | $6,116 |
| Q3 2020 | $5,459 |
| Q2 2020 | $5,261 |
| Q1 2020 | $4,618 |
| Q4 2019 | $4,961 |
| Q3 2019 | $4,378 |
| Q2 2019 | $4,305 |
Source: MacroTrends
PayPal Transaction Statistics
In Q1 2024, PayPal processed approximately 6.5 billion payment transactions, up over 11% from 5.8 billion transactions in Q1 2023. However, the growth rate for the value of payments processed had been declining for several quarters until 2023.
Below is a table showing the number of PayPal transactions and year-on-year percentage changes from 2021 to 2024:
| Quarter | Number of Transactions | Year-on-Year % Change |
| Q1 2024 | 6,505 million | 11.5% |
| Q4 2023 | 6,798 million | 12.7% |
| Q3 2023 | 6,275 million | 11.2% |
| Q2 2023 | 6,074 million | 10.2% |
| Q1 2023 | 5,834 million | 13.0% |
| Q4 2022 | 6,032 million | 12.9% |
| Q3 2022 | 5,643 million | 15.2% |
| Q2 2022 | 5,513 million | 16.4% |
| Q1 2022 | 5,161 million | 18.1% |
| Q4 2021 | 5,343 million | 21.2% |
| Q3 2021 | 4,900 million | 22.1% |
| Q2 2021 | 4,735 million | 26.5% |
| Q1 2021 | 4,371 million | 34.0% |
Source: Statista
Total Payment Volume Of PayPal
In the first quarter of 2024, PayPal’s payment volume reached $403.86 billion, a 13.9% increase from the same quarter last year. This Q1 2024 payment volume came from over six billion transactions as shown above.
PayPal processed $1.53 trillion in payments in 2023.
Please review the table below to see PayPal’s Total Payment Volume (TPV) and year-on-year percentage changes:
| Quarter | TPV (in U.S. dollars) | Year-on-year percentage change (%) |
| Q1 2024 | 403.86 | 13.9 |
| Q4 2023 | 409.83 | 14.7 |
| Q3 2023 | 387.7 | 15.1 |
| Q2 2023 | 376.54 | 10.8 |
| Q1 2023 | 354.51 | 9.8 |
| Q4 2022 | 357.38 | 5.3 |
| Q3 2022 | 336.97 | 8.7 |
| Q2 2022 | 339.79 | 9.3 |
| Q1 2022 | 322.98 | 13.1 |
| Q4 2021 | 339.53 | 22.5 |
| Q3 2021 | 309.91 | 25.6 |
| Q2 2021 | 310.99 | 40.3 |
| Q1 2021 | 285.45 | 49.8 |
Source: Statista
PayPal Market Share
In 2024, PayPal leads the global online payment processing market with a 45.4% share.
Stripe came in second place with a market share of approximately 18.2%. Shopify Pay Installments followed closely, with 14.6% of the market, highlighting its significant role in the e-commerce sector.
Here is a table showing the market share of different payment options across tracked web domains:
| Platform | Share of Payment Platforms |
| PayPal | 45.4% |
| Stripe | 18.2% |
| Shopify Pay Installments | 14.6% |
| Amazon Pay | 3.8% |
| Afterpay | 1.3% |
| Stripe Checkout | 1.3% |
| Braintree | 1.2% |
| Klarna | 1.0% |
| Remise | 1.0% |
| HiperCard | 0.8% |
| Authorize.net | 0.8% |
| Sezzle | 0.7% |
| LawPay | 0.5% |
Source: Statista
PayPal Employee Statistics
PayPal employs 27,200 people globally. Of these, 55.9% identify as male, 44.0% as female, and 0.07% as non-binary.
PayPal operates in 200 countries and has 45 offices worldwide. Millennials make up 58% of PayPal's employees. The workforce is diverse, with 55% White, 17% Asian, and 15% Hispanic or Latino employees.
37.5% of PayPal’s workforce, or 10,200 employees, were based in the United States.
Source: CapitalOne
PayPal Acquisitions
| Company | Description |
| Venmo | Mobile payment app acquired in 2013 |
| Braintree | Payment gateway service acquired in 2013 for $800M |
| Xoom | Digital money transfer service acquired in 2015 for $890M |
| Honey | Coupon-finding browser extension acquired in 2020 for $4B |
| Zettle | Mobile POS solutions acquired in 2018 for $2.2B |
| Hyperwallet | Global Payout Solutions acquired in 2018 for $400M |
| Simility | Fraud prevention solutions acquired in 2018 for $120M |
| Curv | Cryptocurrency security company acquired in 2021 |
| Paidy | Japanese BNPL service acquired in 2021 for $2.73B |
Additional PayPal Facts
- eBay acquired PayPal in 2002 for $1.5 billion.
- PayPal spent over $4 billion to acquire the Chrome extension Honey.
- PayPal's stock price increased by 116% in 2020.
- PayPal invested $500 million in Uber.
- The highest share price for PayPal was $304.79 in February 2021.
Source: ThriveMyWay
What Lies Ahead
Looking ahead, PayPal aims to strengthen its position in the fintech sector by leveraging new technologies and market trends. Integrating AI and machine learning will enhance user experiences and improve fraud detection. The growing use of digital wallets and contactless payments is expected to boost PayPal’s transaction volumes. With strategic market expansions and continuous innovation, PayPal is well-prepared for the evolving digital economy. Analysts predict steady growth and an increased market share, ensuring PayPal remains a leading force in global payments.
