Highlights. PayPal is the #1 most popular online payment processor.
- PayPal’s cumulative user transactions or total payment volume (TPV) hit a record $1.53 trillion in 2023, and users made 24.981 billion transactions.
- Consumers had 391 million active accounts on PayPal at the end of 2023.
- 35 million merchants use PayPal to collect consumer payments.
- Revenue from all PayPal services (including transactions) totaled $29.8 billion in 2023, up 8.19% year-over-year (YoY) with a net income of $4.25 billion.
PayPal Transaction Statistics
Because its consumers and merchants are active in approximately 200 geographic markets, PayPal facilitates transactions in approximately 150 different currencies.
- PayPal’s 2023 TPV increased 12.6% from 2022.
- From 2018 to 2023, PayPal TPV increased 164.3%, equivalent to a 21.5% compound annual growth rate (CAGR).
- The average PayPal transaction was $61.19 in 2023, up 0.77% YoY.
- 90.2% of PayPal revenue came from transactions in 2023.
- PayPal made an average of $1.08 from each transaction.
- PayPal’s take rate was 1.76%; in other words, for every dollar in user transactions, PayPal made just under $0.02.
- PayPal’s take rate declined by an average of 5.75% per year over 5 years.
- PayPal users’ TPV totaled $1.357 trillion in 2022, up 8.93% from $1.246 trillion in 2021.
| Year | Revenue (billions) |
YoY Change |
|---|---|---|
| 2023 | $29.77 | 8.19% |
| 2022 | $27.52 | 8.46% |
| 2021 | $25.37 | 18.3% |
| 2020 | $21.45 | 20.7% |
| 2019 | $17.77 | 15.0% |
| 2018 | $15.45 | 18.0% |
| 2017 | $13.09 | 20.8% |
| 2016 | $10.84 | 17.2% |
| 2015 | $9.25 | 15.2% |
| 2014 | $8.03 | 19.3% |
| 2013 | $6.73 | 18.8% |
| 2012 | $5.66 | 25.9% |
| 2011 | $4.50 | NA |
PayPal Revenue Statistics
An increasing share of PayPal’s revenue comes from transactions as opposed to nontransactional revenue.
- In 2023, PayPal made a total of $26.9 billion from transactions alone, up 6.55% from 2022 ($25.2 billion).
- PayPal also made $2.91 billion from other services in 2023 for a total revenue of $29.771 billion.
- Nontransactional revenue increased 26.0% YoY.
- Over the past 5 years, PayPal’s revenue had a CAGR of 14.0%.
- PayPal’s international revenues totaled $12.5 billion in 2023, 42.1% of total revenue.
- The international contribution to transaction revenues increased 0.58% between the fourth fiscal quarters (Q4) of 2022 and 2023.
PayPal Account Statistics
Most PayPal users are individuals who primarily use the service for retail purchases and personal banking.
- The average active account holder makes 58.7 transactions per year, up 14.2% YoY.
- PayPal had 391 million active consumer accounts at the end of 2023, down 2.25% YoY.
- 91.8% of all active accounts are consumer accounts.
- The number of active consumer accounts grew at a CAGR of 9.71% over 5 years.
- PayPal had 35 million active merchant accounts at the end of 2023, the same amount as in 2022.
- The number of active merchant accounts grew at a CAGR of 10.76% over 5 years.
PayPal Consumer Statistics
Among users of digital wallets and banking apps, PayPal is preferred above any of the other Top 6 apps.
- 28% of PayPal users are aged 50 to 64 years.
- 22% of PayPal users are aged 40 to 49 years.
- 29% of PayPal users are aged 30 to 39 years.
- 20% of PayPal users are aged 18 to 29 years.
- 94% of U.S. PayPal users are smartphone owners.
- U.S. PayPal users are 4.00% more likely to live in large cities than in any other type of community.
- 67% of consumers prefer to make returns at an in-person drop-off at either the retailer’s store or third-party stores.
- 87% of consumers say they look for online purchases that offer free returns.
PayPal Corporate Statistics
PayPal subsidiaries or “payment solutions” include Venmo, Xoom, Paidy, and Honey, among others; digital wallet Zettle is for point-of-sale transactions.
- PayPal had 27,200 global employees in 2023.
- 55.9% of PayPal’s workforce identifies as male; 44.0% identify as female and 0.07% as non-binary.
- 10,200 or 37.5% of all PayPal employees are in the U.S.
- PayPal’s outstanding common stock shares totaled 1.07 billion at the beginning of 2024.
- At the end of 2023 Q2, PayPal stock shares were worth $73.4 billion.
These data and insights were compiled by the Capital One Shopping team based on publicly available data.
Sources
- U.S. Securities and Exchange Commission, PayPal Holdings, Inc.
- PayPal, Investor Relations: News & Events
- Statista, PayPal