PayPal Revenue and Users Statistics 2023

PayPal Revenue and Users Statistics

Last Updated: February 2024

PayPal is the most popular payment app and interface, with the largest market share of nearly 42% globally.

The practice of making purchases online was still frowned upon in the late 90s. There was no guarantee that the ordered items would arrive or that incorrect payments would be refunded. One of the first methods of payment to try to tame the wild west was PayPal. 

In 2023, PayPal reported a staggering revenue of $7.04 billion for the first quarter, showcasing a remarkable 8.59% increase compared to the previous year. This exponential growth can be attributed to its ever-expanding user base, which reached a remarkable milestone of 223 million active accounts worldwide

In this post, we have put together all the latest PayPal statistics and facts you should know in 2023.

The contents of this post are as follows:

PayPal Key Stats 2023

PayPal Revenue 2023

PayPal Annual Revenue

PayPal annual revenue amounted to $27.5 billion in 2022, an increase of 8.7% year-over-year. 

Furthermore, PayPal has reported an increase in annual revenue every year since 2010.

DateRevenue ($bn)
20103.5
20114.5
20126
20136.7
20148
20159.2
201610.8
201713
201815.4
201917.7
202021.4
202125.3
202227.5

Source: Company Data

PayPal Quarterly Revenue

PayPal generated revenue of $7.04 billion in Q1 2023, an increase of 8.59% year-over-year.

Date Revenue ($bn)
Q1 20172.97
Q2 20173.13
Q3 20173.23
Q4 20173.74
Q1 20183.68
Q2 20183.85
Q3 20183.68
Q4 20184.22
Q1 20194.12
Q2 20194.3
Q3 20194.37
Q4 20194.96
Q1 20204.61
Q2 20205..26
Q3 20205.45
Q4 20206.11
Q1 20216.03
Q2 20216.24
Q3 20216.18
Q4 20216.92
Q1 20226.48
Q2 20226.8
Q3 20226.85
Q4 20227.38
Q1 20237.04
Source: Company Data
 
 
Image source: Businessofapps.com

PayPal Earnings

In 2022, PayPal reported $2.4 billion in net income, a nearly 50% decrease from the previous year.

Speaking of Q1 2023, PayPal’s earnings for the quarter stood at $0.795 billion, a 56.19% increase year-over-year.

DateNet Profit ($bn)
20120.8
20130.9
20140.4
20151.2
20161.4
20171.8
20182
20192.4
20204.2
20214.1
20222.4
Q1 20230.8

Source: Company dataPayPal Earnings 2023

PayPal Payment Volume

PayPal’s payment volume first surpassed the $1 trillion mark in 2021, and it then reached $1.36 trillion in 2022.

In Q1 2023, PayPal’s total payment volume (TPV) amounted to $354.5 billion.

DatePayment volume ($bn)
2014235
2015282
2016355
2017451
2018578
2019712
2020936
20211250
20221363
Q1 2023354.5

Source: Company Data

Also read: Best Virtual Assistants For Hire

How Does PayPal Make Their Money?

PayPal offers global payment options for both digital and mobile transactions. Fees on payment transactions account for the majority of PayPal revenue.

PayPal Revenue Breakdown

As of Q1 2023, the majority of PayPal revenue comes from transaction fees (90.4%). While revenue from other value added services accounts for only 9.6% of revenue.

PayPal Revenue Breakdown

PayPal Users Statistics

 

PayPal Annual Users

PayPal annual active users numbered 435 million in 2022. These users made at least one transaction in the year.

As of Q1 2023, there are 433 million active PayPal accounts.

YearUsers (mm)
2013143
2014161
2015179
2016197
2017227
2018267
2019305
2020377
2021426
2022435
Q1 2023433

Source: Company Data

PayPal Annual Users

 

How Many People Use PayPal Every Month

PayPal monthly active users are expected to reach 223.3 million globally in 2023, according to recent data. The figure refers to Internet users 14 years of age and older who access their PayPal accounts and/or make at least one monthly purchase using the payment service.

This represents a 6.7% annual increase from 2022’s 209.3 million users, when PayPal’s user base surpassed 200 million for the first time.

paypal-users-per-month
Image source: Insiderintelligence.com

 

PayPal Users by Country 2022

In 2022, German and Brazilian consumers used PayPal for in-store transactions more frequently than American consumers did.

Germany has the most (91%) of its users using PayPal for online payments, with Italy and Spain coming in second and third, respectively, at 90% and 89%. 

CountryStores, restaurants or other POSOnline
Brazil54%86%
Germany49%91%
Italy48%90%
United States56%82%
France39%88%
Canada33%87%
Austria31%84%
Australia29%82%
Netherlands22%70%
Spain0%89%
Mexico0%87%
South Africa0%85%
Finland0%79%
Poland0%77%
India0%49%
Russia0%46%
China0%11%

Source: Statista

 

PayPal Vendors Accounts

In 2022, there were 35 million PayPal merchant accounts.

DateAccounts (mm)
201513
201615
201718
201821
201924
202030
202133
202235

Source: Company data

PayPal Transactions Statistics

PayPal Transaction Volume by Year

PayPal and its affiliated services, such as Venmo, processed 22.3 billion transactions in 2022.

Furthermore, in Q1 2023, PayPal transaction volume stood at 5.8 billion transactions, a 13% increase year-over-year.

YearTransactions (bn)
20133.2
20143.9
20154.9
20166.1
20177.6
20189.9
201912.4
202015.4
202119.3
202222.3
Q1 20235.8

Source: Company data

How Many PayPal Transactions Per Day

PayPal processes an average of 41 million transactions per day. That represents a 20.58% increase from 2019, when an estimated 34 million transactions per day were processed. This expansion can be partially attributed to the rise in remote work brought on by the 2020 Pandemic. With more people working from home or as independent contractors, PayPal has grown in popularity as a means of payment for companies.

Source: Zippia.com

Also read: BeReal Usage Statistics

PayPal Transactions Per Account

As of March 31, 2023, PayPal reported 53.1 payment transactions per active account, an increase of 13% over the previous year.

YearTransaction per account
201323
201424
201527
201631
201733
201836
201940
202040
202145
202251
Q1 202353.1

Source: Company Data

PayPal Market Statistics

 

PayPal Market Share

PayPal dominates the payments market with a nearly 42% market share worldwide. Stripe comes in second with a 19.32% market share, almost half of PayPal’s.

paypal-market-share
Source: Statista

 

How Much is PayPal Worth?

As of May 2023, PayPal net worth is estimated at $70.32 billion. 

Source: Macrotrends.net

 

Who Owns PayPal?

As of May 2023, Vanguard Group is the largest stakeholder in PayPal and owns over 8% of the company.

Top 10 owners of PayPal Holdings Inc.

StockholderStakeShares owned
The Vanguard Group, Inc.8.05%91,043,434
BlackRock Fund Advisors4.28%48,465,341
SSgA Funds Management, Inc.3.91%44,220,388
Comprehensive Financial Management2.63%29,761,618
Geode Capital Management LLC1.83%20,711,694
AllianceBernstein LP1.51%17,133,910
Norges Bank Investment Management1.27%14,354,573
Fisher Asset Management LLC1.24%14,016,762
Polen Capital Management LLC1.11%12,520,376
Fidelity Management & Research0.96%10,807,169

Source: CNN

Conclusion

As of Q1 2023, PayPal had a whopping 42% market share and 433 million active users, making it the largest online payment processor in the entire world.

And because of this enormous size, the business has experienced tremendous profitability. PayPal brought in $27.5 billion in revenue and $2.4 billion in profit all in one year.

With PayPal, phenomenal growth has been the one constant. PayPal’s annual growth has only been accelerated by the COVID-19 Pandemic’s effects, from revenue to users to website acceptance. Future growth of the platform will almost certainly result in it becoming even more well-known.