We’ve all heard of PayPal. The legendary payments giant grew out of an email-based service. In the past 20 years, it has become the world leader in payment processing. In 2019, 12.4 billion transactions passed through PayPal. This year, ECOMMPAY became the first payment service provider to integrate the new PayPal Commerce Platform.
Here are some interesting facts about PayPal:
- 7 million companies globally accept payments via PayPal.
- PayPal operates in 202 countries. This list includes Somalia, Mongolia, and Vanuatu, but does not feature Turkey, Cuba, North Korea, or Antarctica.
- In 97 countries, residents can only use PayPal for purchases and sending money. Withdrawals are not permitted. At the same time, 89% of online shoppers worldwide use PayPal.
- In 2019, cross-border transfers accounted for one fifth of PayPal transaction volumes.
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- In the spring and summer of 2000, PayPal offered $20, $10, and eventually $5 for connecting new users. As a result, the company grew by 10% per day. The number of accounts during this time increased from 1 million to 5 million. Today, the company boasts 305 million active accounts. Compared to last year, this is a 14% increase.
- December 2019 saw PayPal become the first foreign platform licensed for domestic payments in China.
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- PayPal is used as a payment method by more than 90% of German, Austrian, Italian, and Spanish consumers. In the Czech Republic and Ukraine, this number is only 35%.
- 650 airlines sell tickets for domestic and international flights using PayPal.
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PayPal continues to dominate the payments arena. Are you a growing business? Enquire about connecting PayPal today.