The above graph represents the volume and value of PayPal payment transactions, by year. In 2019, approximately 12,361 million payment transactions worth $711,925 million were completed either on PayPal’s own platform or via a partner payment solution.
Volume ad Value of PayPal Payments: More Details
|Source||PayPal Annual Reports|
|Note||PayPal fiscal year starts from January 1st|
The company reported an appreciable 25.2% and 23.1% YoY growth in the volume and value of payments successfully completed during 2019.
In 2012, the number of PayPal payment transactions stood at 2,663 million, which increased to a whopping 6,295 million by the end of 2016. While the value of payments increased from $150,066 million to more than doubled $359,928 million during the same period.
The company defines the number of payment transactions as the the total number of payments, net of payment reversals, successfully completed on its Payments Platform or enabled by PayPal via a partner payment solution, excluding gateway-exclusive transactions.
About PayPal Holdings, Inc.
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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