Tom-Chris Emewulu
Chargeflow's Digital Evangelist
Table of contents

PayPal has been revolutionizing commerce for over 25 years now. Since its humble beginning as Cofinity in 1998, the payment giant has grown into a formidable two-sided network powering eCommerce for individuals and companies in over 200 markets worldwide.

This research provides a detailed overview of PayPal statistics, facts, and figures for 2024. You'll get factual data and insights into PayPal’s revenue growth, userbase, market share, and more. We kindly ask that you credit Chargeflow and include a link to this article if you wish to use any data presented here.

Top Line PayPal Statistics for 2024

  • PayPal has 426 million active users, comprising consumers and merchants.
  • PayPal's total payment volume reached $1.53 trillion in Q4 2023 across 25 billion transactions.
  • PayPal's revenue from transactions and other services was $29.8 Billion in 2023, resulting in a net income of $4.25 Billion, an 8.19% YoY increment.
  • With a market capitalization of $69.41 billion, PayPal holds 45% of the global payments market share, making it the #1 payment processor globally.
  • Up to 36 million merchants use PayPal in over 165 countries worldwide.
  • PayPal currently has 27,200 employees on its payroll.
  • 60% of consumers trust PayPal more than their bank for storing payment credentials.

PayPal Growth Statistics

As of the time of this research, PayPal dominates online payment processing with a 45% market share. It is the preferred digital payment provider for online, mobile, and peer-to-peer payments.

  • 36 million merchants use PayPal in over 165 countries worldwide, a CAGR growth of 10.76% over the past five years.
  • PayPal processed 6.8 billion business transactions in Q4 2023, up 13% Y/Y, beating industry estimates of 6.7 billion.
  • An average active PayPal account holder performs 58.7 transactions yearly, a 14.2% increment from the previous year, surpassing industry estimates of 56.
  • 426 million accounts currently use PayPal, a quarter-on-quarter decline of 0.5%.
  • Consumer accounts increased at a compound annual growth rate of 9.71%, representing 91.8% of all active accounts over the past 5 years.
  • PayPal is used more frequently for online payment in Germany and Brazil than in the United States.
  • Nearly half of German consumers used PayPal for in-store or restaurant payments between April 2022 and March 2023, and 90% reported using it for online payments.
  • While PayPal’s global user count declined in 2023, Germany was the best market for the payment behemoth in the last year.
  • Roughly one-third of websites worldwide that offer PayPal at check-out are in the United States.
  • PayPal achieved record market adoption in Germany, the UK, Australia, and Austria in December 2023.
  • Compared to other processors, PayPal is the king of online payment, followed by Stripe (at 21% market share)  and Shop Pay.
  • 85% of PayPal users are millennials.

PayPal Revenue Statistics

PayPal’s Q4 2023 net revenue grew by almost 9% Y/Y. Rising transaction and value-added services revenues and accelerating U.S. and international revenues drove top-line growth.

  • PayPal ended 2023 with $409.83 billion in total payment volume, up 15% Y/Y on a spot-rate basis and 13% Y/Y on a currency-neutral basis.
  • PayPal's 2023 transaction revenue reached $26.9 billion, a 6.55% increase from 2022's $25.2 billion.
  • PayPal earned $29.771 billion in total revenue in 2023, which includes $2.91 billion from other services – a 26% YoY uptick.
  • PayPal generated $12.5 billion in revenue from international operations in 2023, representing 42.1% of its total revenue.
  • The international contribution to transaction revenues increased by 0.58% from Q4 2022 to Q4 2023.
  • PayPal’s Compound Annual Growth Rate of 14% over the past five years makes it a favorable investment.

PayPal Security and Trust Statistics

PayPal has established a strong brand reputation by providing users 24/7 fraud monitoring, financial encryption, and purchase protection. Collaborative research by PYMNTS and FIS reports that 60% of consumers trust PayPal more than their bank for storing payment credentials. However, the company still face some security concerns:

  • UpGuard rates PayPal's security with a B (795/950) due to weak cipher suites, server information header exposure, and lack of HttpOnly cookies. Stripe also has a B security rating.
  • The most common scams PayPal users face include phishing email/message, invoice and money request scams, advance fee fraud, overpayment scam, prize winnings, high profit – no-risk investments, fake charities, shipping scams, prepaid shipping label scam, package rerouting scam, business/job opportunities, reshipping packages scam, and remote work scam.
  • PayPal's 2023 research indicates that businesses using the platform lose about $3.7 million yearly due to fraudulent online transactions.
  • These companies face an average of 679 chargeback frauds monthly, leading to 31 hours spent investigating and responding to cases.
  • Item Not Received or Order Not Delivered chargeback is the most reported cause of PayPal cases.
  • PayPal offers chargeback and fraud coverage, with cost set at a higher per-transaction rate of 0.4% per approved transaction or 0.6% for Effortless Chargeback Protection.
  • The rising cost of post-purchase chargeback is a significant burden for businesses worldwide.

eCommerce and PayPal

PayPal revolutionized the eCommerce business with its seamless online payment solution and digital products. The payments industry is experiencing tremendous upheavals due to industry regulations and fintech innovations. Mobile wallets are predicted to account for over 50% of all eCommerce transactions by 2026. PayPal stands to gain from these developments with its focus on instantaneous, light-weight, copious payment systems for peer-to-peer, eCommerce, and mobile eCommerce.

  • Businesses using PayPal have 25% better conversion rates than their cohorts.
  • Large enterprises that use PayPal see 33% more completed checkouts than traditional payment methods.
  • Shoppers paying through PayPal spend 12% more than those using other payment methods.
  • PayPal users purchase 60% more frequently compared to other digital buyers.
  • PayPal has expanded its payment solutions with digital products, such as Venmo, Xoom, Paidy, Honey, and Zettle for point-of-sale transactions targeting emerging trends like peer-to-peer payment, BNPL, social shopping, mobile payments, etc.
  • Venmo now has over 90 million active users in the US.
  • Venmo is popular among the younger, mobile, and social demographic.
  • ~26% of Venmo users are between 18 and 29 years.
  • An additional 30% of Venmo users are between 30 and 39 years.
  • Global total purchase value (TPV) for PayPal Pay Later reached 867% since its launch in November 2020.
  • PayPal's buy now, pay later solutions have driven over 2X more purchases than PayPal's standard checkout.
  • PayPal's acquisition of the browser extension Honey was its largest purchase ever, with a price tag of around $4 billion.
  • PayPal acquired Honey to simplify online shopping and payments and boost sales for merchants.
  • The fintech giant recently introduced new checkout and guest checkout experiences, with a consumer app for earning cash back to further their category leadership.
  • They currently have outstanding common stock shares of 1.07 billion.
  • PayPal's launch of a US dollar stablecoin called PYUSD attracted an SEC investigation in November 2023.

This research provides general and factual information as of the time of writing. Chargeflow assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.


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