PayPal, the world’s most popular online payment system, allows businesses and individuals to transfer funds electronically. Having passed a pretty troubled journey, including fraud, lawsuits and many government regulations, the company has never stepped back from its path to success. It wasn’t even a year after its inception when PayPal entered the charts of NASDAQ with $13 per share. Then, in 2002, the company famously merged with eBay for the fine price of $1.5 billion, coming to be eBay users’ only payment option. The rest is history!
Currently, PayPal is available in 202 countries around the world. It enables users to receive funds in more than 100 currencies, withdraw funds in 52 currencies and hold balances in 25 currencies. PayPal’s website, PayPal.com, ranks 73 among websites worldwide by traffic. It has become one of the fundamental tools of the web.
As of April 2017, the platform had 203 million active users, out of which 16 million were active merchant accounts. 768,745 websites worldwide used PayPal as of the same time period. Yet, the numbers are continuously growing! While you are reading this text, many more individuals and businesses will have signed-up and with a strong growth rate, there’s no indication that the competition is catching up.
We’ve only scratched the surface of PayPal’s rise to become the number one online payment system. It’s history and timeline; Ups and Downs; Big partnerships; Demographics; Countries where PayPal is prohibited; Top competitors; Fun facts etc. – can all be found in the infographic compiled by experts from PLAY-N-PLAY.