The above graph represents the total value of PayPal payment transactions by year. In 2019, PayPal processed $711,925 million worth of payments in more than 200 markets around the world. About 305 million active PayPal accounts completed 12,361 million (12.4 billion) number of payment transactions, either on PayPal’s own Payments Platform or enabled by PayPal via a partner payment solution, last year. It is important to note that the year-over-year growth in PayPal’s TPV was 23.1%.
PayPal TPV by Year: Additional Information
|Source||PayPal Annual Reports|
|Note||PayPal fiscal year starts from January 1st|
PayPal “Total Payment Volume” (TPV) is the value of payments, net of reversals, successfully completed on PayPal’s Payments Platform or enabled by PayPal via a partner payment solution, excluding gateway-exclusive transactions.
As the graph shows, PayPal’s TPV increased significantly over the last 9 years. The total value of PayPal payment transactions increased from $150,066 million ($150 billion) in 2012 to reach an all-time high of $711,925 million ($711.9 billion) in 2019.
Founded in December 1998 as Confinity Inc., by Max Levchin, Peter Thiel, Luke Nosek, and Ken Howery, PayPal Holding Inc. (NASDAQ: PYPL) was funded by John Malloy from BlurRun ventures.
However, it was March 2000, when Confinity merged with X.com, an online banking company founded by Elon Musk in November 1999. The visionary Musk was quick to visualise the future potential of the money transfer business Confinity was developing. In contrast to that, Bill Harris, the then-president and CEO of X.com, didn’t find much merit in Musk’s thoughts. Soon, Harris decided to part ways was Musk was determined to stay focused on Confinity money transfer service. He was so committed that he terminated the company’s all other Internet banking operations in order to remain focused on the money transfer business.
All these shifts created an impact on Elon Musk’s position in the company he was replaced by Peter Thiel as CEO of X.com. In the following year, the X.com was renamed as PayPal.
The astounding growth of PayPal convinced executives to launch the IPO of PayPal in 2002. After the celebrated acquisition by eBay Inc. (NASDAQ: EBAY) in July 2020 which valued PayPal $1.5 billion – 7% above the IPO price – it was clear that PayPal is en route to become a global leader in money transfer business.
After thirteen years of being under the umbrella of eBay, PayPal once again became an independent publicly traded company.
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