The global volume of PayPal transactions jumped to $246 billion in the third quarter, representing an increase of 38.2% on the same period last year. As can be seen in a new infographic from Kryptoszene.de, this has been reflected in profits, which have climbed up to 85.9% in the last year. The payment provider’s ascent is being generally accelerated by the corona crisis.
PayPal is by far the most popular online payment service in Germany. According to the „Global Consumer Survey 2020“, 95% of online shoppers used PayPal at least once within the last 12 months. Klarna comes in second place with 42%, followed by Amazon Pay with 25%. 20.2% of all online payments in Germany are processed via PayPal.
PayPal is also reaching new heights in terms of the number of transactions. While 3,261 million transactions were processed through the platform in the first quarter of the pandemic year, by the third quarter it had already reached 4,013 million.
PayPal in the Fast Lane
The payment service now boasts 361 million active accounts globally. The number of users has increased by 11.1% since the first quarter. Over the same period last year, the growth in active accounts was 10.6%.
This development can also be felt on the trading floor. Within the last 365 days, the price of PayPal shares has increased by 88.2%. All over a period in which many stocks and indices such as the DAX suffered losses.