PayPal is one of the most common online payment systems in the world and has been in business for years, but are you wondering about PayPal statistics and facts?
Well, I’ve been researching PayPal statistics and have found many interesting details I think you will want to know about, so keep reading to learn what I’ve discovered!
PayPal Statistics In [currentyear]
Over one million websites accept PayPal as a form of payment in [currentyear]. Also, PayPal has over 400 million users completing 41 million transactions through PayPal daily. PayPal is most popular with those working in the IT field. Almost 90% of customers use PayPal when purchasing something online because it is more secure than other payment methods.
Do you want to know even more cool facts and trends about PayPal? If so, keep reading below because I’ll share the complete list of PayPal statistics and answer your questions!
1. Over 1.6 Million Websites Accept PayPal
There are now over 1.6 million websites that accept PayPal, which shows just how popular PayPal is as an online payment system and how trusted the website is worldwide.
2. 426 Million Users Were On PayPal In 2021
PayPal had 392 million users active in 2021, a jump from 370 million in 2020 and a massive increase from 2013, when the users were around 140 million.
3. PayPal Had More Than 29 Million Merchant Accounts In 2020
Active merchant accounts in 2020 rose to more than 29 million, which was nearly double the 2015 number of merchant accounts.
Furthermore, this shows how many online sellers and businesses choose PayPal as the best way to send and receive payments.
4. 41 Million Transactions Are Done Daily Through PayPal
One interesting PayPal statistic is that around 41 million transactions are performed every day using it, which is hard to even wrap your mind around!
5. Almost $2.5 Billion In Payments Are Processed By PayPal Daily
Every day there is nearly $2.5 billion in payments processed by PayPal, including direct deposits and government funds that go into user accounts.
6. 15.4 Billion Transactions Were Processed On PayPal In 2020
In 2020, more than 15.4 billion transactions were processed on PayPal, which is huge considering that in 2018, there were 9.9 billion transactions processed on PayPal.
Additionally, in 2013 that number was only 3.2 billion, but it continued to rise to more than 6.1 billion in 2016.
7. 9% Of Children Had A PayPal Account In 2020
One surprising PayPal trend is that children are now joining the platform to receive money, and in 2020, around 9% of children had an active PayPal account.
However, children cannot have a regular PayPal account and have to use the student or child accounts that must be approved and linked to the parent account.
8. PayPal Is Most Popular With Those In The IT Industry
One interesting fact about PayPal is that it’s most popular with people in the IT industry, such as electronics, computers, and technology.
For example, the popularity of PayPal with those in the IT industry is at 5.4%. Still, it’s also popular with those in the lifestyle industry and has a 4.15% popularity with that group.
9. Over 87% Of Online Buyers Use PayPal
Online buyers have used and trusted PayPal for several years, which shows that over 87% of all online buyers use PayPal to complete their purchases and send money to sellers.
10. PayPal Stocks Hit A Record $308.53 In July 2021
On July 23, 2021, PayPal stocks hit a record high, closing at $308.53, but since then, it has fallen to about $77 as of May 2022.
11. PayPal Profits In 2021 Were $4.1 Billion
In 2021, PayPal’s profit was $4.1 billion, which was down slightly from 2020 when it was $4.2 billion, but both are amazing, considering that in 2014 it was only $.4 billion.
12. 57% Of German Shoppers Prefer PayPal For Online Shopping
German shoppers love PayPal, and more than 57% of them use PayPal for their online shopping, which shows the popularity of PayPal across the world.
13. 80 Million PayPal Customers Use One Touch Method
The One Touch method on PayPal allows you to forgo logging in using your standard email and password credentials, and it makes sending and receiving money much quicker.
Therefore, it shouldn’t be a surprise that more than 80 million customers enjoy using the One Touch method for transactions.
Further, it will log you into Payal automatically and also can work using a desktop computer, mobile device, tablet, and laptop.
14. 45 Transactions Occurred For Every Active PayPal Account in 2021
In 2021, 45 transactions occurred on each active PayPal account on average, which is up from the 2020 average of 40.9 transactions.
Therefore, you can see that the trend is people are using PayPal more often and that more people are shopping online using PayPal to complete their orders.
15. PayPal Handles 22% Of Online Transactions In America
In America, about 22% of all online transactions are handled by PayPal, which means that PayPal is still one of the most used online payment services available.
16. The Average Balance Of A PayPal Account Is $485
One interesting statistic I found about PayPal was that, on average, there is a $485 balance in a PayPal account, which is shocking that people would leave a balance that big in their account.
17. More Than 300,000 British Citizens Use PayPal Every Day
PayPal is very popular with British citizens, and more than 300,000 British people use PayPal every day for their transactions; and Germany also has about the same amount of users.
In addition, PayPal is used in France every day by more than 96,000 people, and over 71,000 people in Italy use PayPal every day.
18. PayPal Gave A Man $92 Quadrillion Accidentally
A funny fact about PayPal, did you know that PayPal accidentally paid a man $92 quadrillion?
That said, the money was quickly removed from the man’s account, but it was a funny oops from PayPal!
19. Over 30,000 People Work For PayPal
One cool trend that you may want to know about PayPal is that the number of employees rose to over 30,000 in 2021, which increased 16.6% in a year.
Furthermore, the number of PayPal employees in 2020 was over 26,000, which was a 14% jump from 2019, so you can see the trend becoming quite apparent.
20. Venmo Is A PayPal Subsidiary
PayPal has a few different subsidiaries, but one fact people may not know is that Venmo is a PayPal subsidiary, an online payment system that boasts millions of users.
21. Honey Is A PayPal Subsidiary
Did you know that Honey is a PayPal subsidiary, and it was the largest acquisition for PayPal since it paid $4 billion for Honey in 2019?
22. eBay Bought PayPal For $1.5 Billion
eBay purchased PayPal for $1.5 billion in 2002 but then split from PayPal in 2015, and once that happened, the market value of PayPal jumped to $49 billion!
23. In 2018, The Average Conversion Rate Was 88.7%
PayPal has a great conversion rate compared to other companies for its e-wallet, with the average conversion rate being 88.7%, which is about 60% more than other e-wallets.
Is PayPal Still Popular?
Yes, PayPal is very popular, with an active user count of over 426 million, and that is a huge jump of around 370 million in 2020.
Furthermore, as people continue to shop online like crazy, it’s expected that the number of users on PayPal is only going to continue to grow.
What Age Group Uses PayPal The Most?
25% of all PayPal users are between 25 and 34-years-old, while 22% of users are over the age of 55, and 20% are between 45 and 54-years-old.
Is Venmo Better Than PayPal?
Venmo is better if you are just sending money to your friends or family members, but it does not have nearly the same features and benefits as PayPal, so it depends on how you use it.
For example, if you have a business, you would want to use PayPal since it has many benefits and features for business accounts or if you plan on doing multiple transactions.
What Are The Disadvantages Of PayPal?
Disadvantages of PayPal include taking a few business days to get your money, higher fees for processing credit cards, and even higher chargeback fees.
Additionally, contacting customer service can be difficult, and your money could be frozen if your account is flagged in their system for any reason.
To know more, you can also read our posts on PayPal G&S, how does PayPal refund work, and PayPal headquarters.
Conclusion
There are multiple interesting facts about PayPal, such as that there are more than 426 million active users on the platform and that over 1.6 million websites accept PayPal.
Additionally, PayPal has more than 29 million merchant accounts, and there are more than 41 million transactions done each day on PayPal.
Also, Venmo and Honey are PayPal subsidiaries, and Honey was the biggest acquisition for PayPal with a price tag of over $4 billion.
