Payments. Ecommerce. Profits.

why won t paypal cash my check

Top 23 Statistics For PayPal Usage Worldwide

Making a payment online? There’s a good chance you’ve used PayPal, the world’s leading online payment processing outlet.

Since it was founded in 1998, some fierce competitors have appeared, but even the likes of Stripe and Apple Pay have struggled to knock it off the top spot.

Even though the world of online payment processing has changed drastically, PayPal still dominates the space.

But why exactly has PayPal held on to the top spot, who uses it, and how does it stack up against its competitors? Here’s everything you need to know about the payment processing giant with top 23 Statistics for PayPal Usage Worldwide

Top 23 Statistics For PayPal Usage Worldwide

1. PayPal Has A Market Share Of 54.34%

PayPal’s closest competitor, Stripe, has a meager 19.14% market share. Many payment processing companies are fighting for a piece of the share, but most other competitors fall short. Even Amazon pay, another competitor of Paypal, has less than a 4% market share.


2. Over 1.6 Million Websites Use PayPal

PayPal hasn’t become the world’s leading online payment processing outlet by chance. According to builtwith, over 1.6 million sites on the web use PayPal to process their payments.


3. PayPal Has Over 429 Million Active Users

According to Statista, over 429 million people have signed up for an active PayPal account. This number has increased steadily, but exponentially, since PayPal’s inception.

PayPal’s user base has more than doubled since 2017, too, growing its number of active users from 212 million in 2017.


4. PayPal Is The Top Payment App With All Generations

Statistics For PayPal Usage Worldwide

Although Gen Z reportedly uses Apple Pay more than any other generation, PayPal still remains the top payment processing app across all age groups – including Gen Z.

Alternative online payment methods like PayPal have also seen a significant boom since the emergence and spread of Covid-19, according to Logica.

(Logica Research)

5. PayPal Takes Around 41 Million Transactions Each Day

Although we all use different payment processors when we shop online, a huge number of us go through PayPal, which is said to manage a staggering 41 million transactions each day through various online platforms.


6. Customers Are More Likely to Buy If A Business Accepts PayPal

If your online business isn’t accepting PayPal, you may be selling yourself short. According to a report by mytotalretail, 54% of people are more willing to make a payment if their merchant accepts PayPal at the checkout.

The report also found that around 59% of consumers are likely to completely abandon the checkout if PayPal isn’t listed as an accepted payment processor.


7. 25% Of North American Shops Have PayPal As A Payment Option

According to PayPal, a quarter of North American businesses use PayPal as a leading payment processor. It also remains one of the leading online payment processors in the whole country.


8. 75% Of UK Digital Payment Users In The UK Like Using PayPal

PayPal isn’t just popular in the US. According to Statista, approximately 75% of digital payment users in the United Kingdom like using PayPal. Around 2 million people in the UK have an active PayPal account.


9. In Europe, PayPal Is The Most Popular In The UK

Although PayPal is used widely throughout Europe, it remains most popular in the UK. In 2019, the United Kingdom reported an average of 330,000 daily active users on PayPal, making it PayPal’s most popular country in Europe.


10. Germany Also Has A Large PayPal User Base

The UK may use PayPal more than any other European country, but Germany also has a pretty avid user base.

According to research from Statista, around 94% of German consumers used PayPal at least once between 2020 and 2021. Italy, France, and Spain also have a large portion of PayPal users.

PayPal Revenue, Stocks, and Company Stats

11. PayPal Stocks Hit $308.53 In 2021

PayPal continues to outperform other payment processing companies in the sector, with their stocks closing at a record high of $308.53 in July 2021. This put PayPal far ahead of its other top competitors, including Stripe.

(Yahoo! Finance)

12. PayPal Made $25.371B In 2021

In 2021, PayPal scooped an impressive annual revenue of $25.371B. This was up almost 20% from the beginning of 2020. The Covid pandemic increased the demand for online payment processing, which may have contributed to the rise in revenue.


13. PayPal Holdings Has 26,500 Employees

According to Zippla, PayPal Holdings reported 26,500 in July 2022. Approximately 45% of employees are women, 55% are men, and around 55% of PayPal employees are white.


14. PayPal’s Market Cap Fell In 2022

Although PayPal is one of the most valuable companies in the world (according to market capitalization), its market cap fell significantly in 2022.

In fact, the market cap has fallen steadily since 2020. In 2020 it stood at $274.41 billion, then $220.26 billion in 2021, to $112.01 billion in 2022. It’s unclear whether the market cap will increase in 2023.

(Companies Market Cap)

15. PayPal Supports 25 Currencies

As one of the most popular payment processors in the world, PayPal currently supports 25 currencies, including USD, GBP, BRL, CAD, and CNY.

It’s also available in more than 200 countries and regions, making it easy to send and receive cash regardless of location or language barrier.


PayPal Demographic and Consumer Stats

16. The Average American User Has $485 In Their PayPal Wallet

According to statistics from Logica Research, the average American PayPal user has around $485 in their wallet. This is a stark contrast to the average ‘real’ American wallet, where consumers will stash away just $196.

When looking at the responses of millennials only, the average PayPal balance jumps by another 27%.

(Logica Research)

17. Almost 20% Of Americans Would Rather Use PayPal Than A Bank Account

With online payment processors on the rise, it’s no surprise that according to Logica Research, around 20% of Americans would rather use PayPal than their own bank accounts to process payments.

Most people say it’s easier to keep track of their expenses in PayPal, or they simply never get around to moving their balance to their bank accounts.

(Logica Research)

18. PayPal Is The Most Downloaded Finance App Of 2022

Although there are plenty of financial apps out there, with some becoming fierce competitors of PayPal, PayPal still remains the most downloaded finance app of 2022.

According to fool.com, PayPal has been downloaded around 49 million times so far this year, making it even more popular than some of the nation’s best-known banking apps. .


19. The Over 50’s Are PayPal’s Fastest-Growing User-Base

It’s not just the younger generations that are avid users of online payment processors. According to data from Electronic Payments International, the over 50’s are PayPal’s fastest growing user-base.

As adults become more tech-savvy and tech itself becomes more accessible, this demographics’ shopping habits are changing, and we’re seeing a big move to the online world.


20. Venmo, A PayPal Subsidiary, Also Has A Growing User-Base

Venmo was launched in 2009 and eventually purchased by PayPal in 2013. This online payment processor evolved from a simple social payment app to a complete marketplace where users can buy crypto, make purchases, and more.

This PayPal alternative was initially aimed at younger users, but it has since developed a large user base of approximately 83 million across all age groups.


21. You Can Now Buy, Sell, And Hold Crypto With PayPal

Statistics For PayPal Usage Worldwide

Want to do something a little different with your PayPal account? Well, according to PayPal themselves, you can now buy, sell and hold crypto with your account.

With millions of customers now using crypto as their pain form of payment, you can check out through crypto on PayPal and convert your Ethereum, Litecoin, and Bitcoin into US dollars with no conversion fee.


22. 65% Of PayPal Users Only Shop Domestically

According to PayPal, around 65% of its users shop domestically and from cross-border merchants, especially in the US. 27% of its US users will make domestic purchases, while just 7% buy exclusively from cross-border merchants.

Interestingly, in Japan, a massive 94% of payments are exclusively domestic, and just 1% of PayPal’s Japanese users will shop from cross-border merchants.


23. More Women Use PayPal Than Men

According to Statista, more women may use PayPal than men. When assessing the gender distribution of PayPal accounts, Statista found that almost 52% of its accounts are for women, and 48% are for men.


What Makes PayPal So Popular?

Over the years, PayPal has gone from strength to strength – but what exactly makes it so popular?

First off, PayPal is one of the safest and most secure payment providers in the world. Using techniques like SSL, strong passwords, and its two-factor authentication, PayPal works hard to secure your data.

PayPal is also a heavily regulated payment processor, giving users peace of mind and helping to build up its stellar reputation in the industry.

What makes any online service more popular? Accessibility. PayPal knows this – that’s why it’s available in over 150 countries and 25 different currencies.

PayPal operates in almost every country in the world, which gives it a real edge against its competitors, which don’t all offer the same. You can also use PayPal at almost any online retailer, making it even easier for PayPal to handle your payments.

Arguably, one of the biggest reasons for PayPal’s success is its low fees and good limits. When PayPal first became popular in the early 2000s, its competitors weren’t doing the same.

With long processing times and low limits, it wasn’t difficult for PayPal to step in and claim the top spot by offering no monthly fees and decent limits.

PayPal Is Easy To Use

Let’s not overlook another very important factor – PayPal is easy to use. Compared to other payment processors, PayPal is a breeze. Setting up your personal or business account can be done in just a few clicks.

Put in your email and password, add in your payment details, and you’re good to go.

This is what makes PayPal so popular with older generations, too. Once you’ve set up your account, sending and receiving money is easy.

All you need is a credit or debit card attached to your account so that you can fund your account and withdraw your earnings when you need to. Just hit send or withdraw, and you’re done!

The Future Of PayPal

PayPal has been experiencing impressive growth year after year, but what does the future of PayPal look like? Well, one thing is for sure – PayPal’s future is looking pretty bright, and it doesn’t show any signs of slowing down.

PayPal has been investing in its growth non-stop and established itself as the market leader in digital payments.

PayPal is also popular with users from all generations, something that can’t be said of even its most fierce competitors. Such a large and diverse user base is a positive sign for its future.

With steady growth year-on-year and an ever-growing user base, PayPal seems set to maintain the top spot above its competitors. This is also great news for investors, especially as PayPal holdings is still trading at a low price.

Considering how well established PaPal is, this is a rarity, and it gives investors an incredible opportunity to cash in on PayPal’s undeniable success. So, if you’re interested: buy low and sell high!

The Bottom Line

Even if you’ve never used PayPal, you’ll be aware of its stellar reputation. PayPal has been going from strength to strength since its inception, rarely experiencing any dips or facing any bumps in the road.

Just a quick glance at these 23 statistics will tell you everything you need to know about PayPal. It’s popular, reliable, trustworthy, and incredibly accessible.

PayPal is operational in almost every country in the world and in over 25 currencies, meaning its competitors have a long way to go if they want to make a dent in the market.