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PayPal User Statistics: How Many People Use PayPal in 2023?

Tech Report

PayPal ranks among the top Fintech companies worldwide, with an estimated market value of $84.81 billion. Notably, it is one of the companies that led the digital revolution for money transfers in 1998. Since its creation in December 1998, PayPal has become home to over 431 million active users.

Also, recent data projects that the number of PayPal users will increase to 201.2 million by the end of 2023. Here are vital PayPal user statistics on its growth and worldwide adoption in 2023.

Over time, PayPal has upgraded to include impressive features and products for an improved user experience. These upgrades include debit cards for users to access money and make payments online and offline. Also, credit card readers for small businesses and credit lines for online purchases are part of the upgrade. Before integrating two–factor authentication (2FA) on mobile, PayPal provided a key code generator worth $5 for users to secure their accounts.

This key code efficiently provided vital security to protect users from losses. However, PayPal has upgraded to text messages, fingerprint, and face recognition technology. PayPal enjoys 50.32 percent of the total market share in the payment processing sector. Consequently, PayPal’s annual revenue 2020 increased to $21.45 billion from $17.77 billion in 2019. Also, PayPal stocks attained an all-time high value of $308.53 per share around mid-2021. Additionally, PayPal has approximately 30,900 employees on their payroll.

Of these figures, two-thirds work in the tech sector of PayPal, underlying its importance. One-quarter of the employees work in sales and around 5% in customer service. Notably, PayPal has had its fair share of challenges, as it accidentally credited an account with over $92 quadrillion in 2013. However, the error was corrected swiftly, with PayPal admitting to the error.

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