April 14, 2024

PayPal ranks among the top Fintech companies worldwide, with an estimated market value of $84.81 billion. Notably, it is one of the companies that led the digital revolution for money transfers in 1998. Since its creation in December 1998, PayPal has become home to over 431 million active users.

Also, recent data projects that the number of PayPal users will increase to 201.2 million by the end of 2023. Here are vital PayPal user statistics on its growth and worldwide adoption in 2023.

PayPal User Statistics

What is PayPal?

Based on its utility, PayPal is an electronic commerce company that supports payments between multiple parties through online transfers. Customers can create an account connected to their credit cards or checking accounts on the PayPal platform. PayPal has a reputation for being a reliable and secure channel for securing online payments.

Over time, PayPal has upgraded to include impressive features and products for an improved user experience. These upgrades include debit cards for users to access money and make payments online and offlineAlso, credit card readers for small businesses and credit lines for online purchases are part of the upgrade. Before integrating two–factor authentication (2FA) on mobile, PayPal provided a key code generator worth $5 for users to secure their accounts. 

This key code efficiently provided vital security to protect users from losses. However, PayPal has upgraded to text messages, fingerprint, and face recognition technology. PayPal enjoys 50.32 percent of the total market share in the payment processing sector. Consequently, PayPal’s annual revenue 2020 increased to $21.45 billion from $17.77 billion in 2019. Also, PayPal stocks attained an all-time high value of $308.53 per share around mid-2021. Additionally, PayPal has approximately 30,900 employees on their payroll. 

Of these figures, two-thirds work in the tech sector of PayPal, underlying its importance. One-quarter of the employees work in sales and around 5% in customer service. Notably, PayPal has had its fair share of challenges, as it accidentally credited an account with over $92 quadrillion in 2013. However, the error was corrected swiftly, with PayPal admitting to the error. 

Presently, PayPal is under the ownership of Dan Shulman, the CEO, and John Donahoe, its Chairman. Interestingly, Shulman is also one of PayPal’s founders. Meanwhile, former PayPal employees Chad Hurley, Steve Chen, and Jawed Karim founded YouTube.

PayPal at a Glance

Launch date  December 1998
Founder (S) Dan Shulman and John Donahoe
Revenue generated  $27.5 billion in 2022
Active users  435 million 
Total payment volume  $337 billion
Number of online transactions 5.6 billion
Headquarters  Palo Alto, California 
Number of employees Over 29,900

Brief History of PayPal

PayPal was created in 1998 after a merger between Confinity and X.com to enable users to pay for goods and services. Also, it facilitated the exchange of money between accounts through secure online transactions

Notably, eBay purchased PayPal for $1.5 billion in October 2002. From 2002 to 2015, eBay used PayPal for auction transactions between buyers and sellers on the platform. However, by 2015, PayPal became an independent company while eBay still relied on it for transactions.

Must Know PayPal User Statistics

Must Know PayPal User Statistics

1. PayPal has 329 Million Active Users as of 2023.

PayPal has approximately 392 million verified users in 2023 and over 435 million accounts. In Europe, there are over 300,000 PayPal users daily, while the countries with the highest daily PayPal usage are Germany and the UK. Also, France and Italy rank high on the PayPal daily usage list with 96.124 and 71,811 users, respectively. 

2. 29 Million Active PayPal Merchant Accounts Exist as of 2020.

Data from 2020 reveal 29 million active merchant accounts on PayPal. This implies that many businesses trust PayPal as a safe portal for transactions.

3. The Fastest-growing Age Demographic of PayPal Users is People Over 50.

There are more tech-inclined adults in this age group compared to the statistics 20 years ago. Also, technology is now more accessible to users, and consumer habits have adapted over the years. 

4. Over 70% of American Adults Use PayPal Across All Age Ranges.

85% of Generation X use PayPal, 75% of Millennials, 73% of Baby Boomers, and 71% of retirees use PayPal. These statistics show the high reliance on PayPal by the American populace and its growing relevance over the years. 

5. 9% of PayPal Users Were Children as of 2020.

Children are not left out of the user demographics, as 9% of PayPal users as of 2020 were in this demographic. These children likely use their PayPal accounts to save and make purchases, making them financially accountable. With PayPal, parents can teach their children to save and purchase things online with close supervision. 

6. Small and Medium-sized Businesses Rely on PayPal for Payment Solutions.

Since PayPal is fast and easy to use, these businesses rely on PayPal to take credit and debit cards in their online and offline stores. Also, PayPal payment options make it convenient for customers and reliable for accounting purposes.

7. 200 Countries Worldwide Accept PayPal Payments.

PayPal is available to merchants and customers in 200 countries worldwide. These regions include Africa, Europe, Asia-Pacific, North America, and South America. Also, PayPal supports 25 currencies from different countries, expanding users’ options.

8. The United States is Where PayPal is Used the Most.

The United States ranks as the country with the highest PayPal usage, although European countries are also rising in usage. Notably, 90% of German citizens rely on PayPal to handle most online financial transactions. Furthermore, 57% of online shoppers in Germany insist that PayPal is their preferred mode of Payment. 

9. 54% of Consumers are More Likely to Complete a Purchase From an Online Shop That Accepts PayPal.

Consumers trust PayPal and prefer to purchase from shops that offer it as a payment solution. Notably, 59% of users have canceled transactions with no PayPal payment option.

10. 52% of PayPal Account Users in the US are Female.

Females account for over half of PayPal users in the US due to reliance on the Fintech company for financial solutions. Also, PayPal will soon include crypto payments, likely boosting its adoption in the US and beyond

11. 1 in 5 Americans Store Money on PayPal.

Americans rely so much on PayPal, with at least one in five preferring to store money on the platform than their bank accounts. This could also serve as a good backup choice in banking problems

12. China is the Top Destination for PayPal Shoppers.

China accounts for 26% of the total PayPal cross-border purchases, making it a global destination for shopping. This is likely due to its relatively wide market offerings and varieties.

13. 16 Million Websites Rely on PayPal as of 2020.

Over 1.6 million websites rely on PayPal as of 2021. Around 30% of these websites originate from the United States and 70% from other regions worldwide.

14. Over 500,000 American Websites Rely on PayPal.

Half a million American websites use PayPal as their preferred financial vendor for daily transactions. Consequently, PayPal has captured more than half of the digital payment niche market share

15. The UK Ranks as the Country With the Highest Number of Websites That Use PayPal.

The United Kingdom ranks as the country with websites relying on PayPal for digital payments. Notably, 109,291 websites rely on PayPal in the UK. Also, Germany ranks second with 81,910 websites. Italy has 58,174 websites, and France has 55,238 websites that rely on PayPal for digital payments.

16. $485 is the Average Amount in a PayPal Account.

The average funds in most PayPal users’ accounts is $485. Individuals rely on PayPal as an alternative to traditional banking transactions. Notably, for United States users, this average increases to $500, confirming its status as the nation with the highest PayPal usage.

17. Stripe, Cash App, and Skrill are the Common PayPal Competitors.

Stripe is regarded as the closest competitor to PayPal, although other payment processors have entered the market. Also, Cash App is a notable competitor alongside Skrill, which is rising in popularity and usage. Remarkably, PayPal bought Venmo, one of its former competitors, in 2012. Consequently, due to the PayPal takeover, Venmo has surged from 3 million users in 2015 to 52 million in 2020. Venmo is often used by relatives and friends for splitting subscription payments and bills, adding to its relevance.

18. Xoom, Braintree, Honey, and Zettle are Notable PayPal Subsidiaries.

Some PayPal subsidiaries include Xoom, Braintree, Honey, and Zettle. Xoom enables electronic fund transfers. Also, Braintree is a payment gateway for merchants to process online transactions. Zettle offers payment solutions to small businesses, while Honey is a browser extension that enables consumers to use discounts.

PayPal Revenue Statistics From 2010-2022

PayPal Revenue Statistics From 2010-2022

19. PayPal’s Annual Revenue has Increased as its Adoption Grows.

Year  Revenue 
2010 $3.4 billion
2011 $4.4 billion
2012 $5.6 billion
2013 $6.6 billion
2014 $8.01 billion
2015  $9.2 billion
2016 $10.83 billion
2017 $13.1 billion
2018 $15.4 billion
2019 $17.8 billion
2020 $21.5 billion
2021 $25.4 billion 
2022 $27.5 billion 

20. PayPal Was Valued at $237.37 Billion in 2021.

PayPal shares were valued at $52.49, dropping from its former valuation of $270 earlier in the year. It recovered from the pandemic decline in the first quarter of 2020. 

21. PayPal’s Payment Volume was $376.54 Billion in Q2, 2023.

This represents a 10.8% increase in payment volume from 2021. Remarkably, the payment volume in the first quarter of 2023 was $354.51 billion. 

22. PayPal’s Payment Volume Exceeded $2 Trillion in 2021.

In 2021, PayPal generated $1.25 trillion in 2021 and $1.36 trillion in 2022, confirming a surge in its value over the years. 

23. PayPal’s Employee Diversity Score was 58% in 2020.

PayPal considers ethnic and gender diversity in its employment style. Men control the majority of PayPal’s lead roles. However, the percentage reduces when lead positions are considered. 64% of the board of directors consists of men, making up three-quarters of tech-related positions, leaving women with 25%. However, the rate of hiring women is increasing, with an 11% increase noted. Meanwhile, around 50% of PayPal employees are white, 31% Asian and 7% black. Hispanics make up only 4% of the entire workforce.

User Stats Top Trends in 2023 

The digital and mobile wallet payment niches will handle 52% of the total online transactions by 2024. However, PayPal’s CEO is conservative in his beliefs, stating that the total number of active accounts might not grow in 2023. The recession will likely influence PayPal’s growth in the United States, which houses its largest customer base. Also, analysts believe the total payment volume will surge by 9.55 at the end of 2023. Meanwhile, the blockchain market will grow beyond $39 billion by 2025. Notably, retail commerce in the United States and worldwide is projected to increase by 14.55% between 2022 and 2023.

24. PayPal Credit is Available on 565 US Websites and 25 Canadian Sites.

PayPal credit enables merchants to accept payments, with the US dominating the list of its users. Also, the US dominated the number of websites that adopted this platform.

25. PayPal Enjoys a 14% Market Share of All Digital Transactions in the US.

Multiple Americans rely on PayPal for their online shopping activities. Therefore, it is no surprise that PayPal processes billions of dollars each quarter, comparable to the scale of large banks. 

26. PayPal Enjoyed a Checkout Conversion Rate of 88.7% in 2018.

Most businesses struggle to keep customers interested in completing all necessary steps in a purchase. However, PayPal enjoyed a high conversion rate 2018, confirming its status as a trusted provider.

27. PayPal’s Conversion Rate is 70% Higher Than its Competitors.

Due to the ease of transacting with PayPal, it enjoys a higher conversion rate than its close competitors. Some other eCommerce platforms require users to go through tedious processes, leading to discouragement. 

28. 86% of Customers are Likelier to Complete a Purchase if PayPal is Listed Among the Options.

PayPal enjoys the trust of most customers, who prefer to complete an online purchase online if it is at checkout. This is likely due to its multiple security features, like the spending limit of up to $4000

29. PayPal Mobile Payments Increased by 52% in Q1 2019.

Mobile payment solutions were more relevant, with PayPal handling most of the transactions in 2019. Its simple user interface and strong security features made it the preferred option for most users. 

30. 65% of PayPal Users Have the App Installed on Their Devices.

Most PayPal users have the app installed on their devices for easy access. Also, the app can be used to securely query account balances, transfer money, and pay bills

31. 45% of Users Make Payments Weekly With PayPal.

PayPal users frequent the app to make payments at least once a week. This further confirms the convenience and trust users attribute to the payment platform.


PayPal is a global e-commerce giant that provides practical financial solutions in over 200 countries. PayPal undergoes improvements and modifications to remain secure and protect users’ funds. Despite the challenges and stiff competition over the years, it remains the preferred option in most regions. 

PayPal’s usage cuts across all demographics, with children alone accounting for over 9% of its total usage. Additionally, in 2023, PayPal recorded over 392 million verified users and over 435 million registered accounts. Based on these statistics, the future looks promising for PayPal due to its dominant market share and general acceptance.

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