- PayPal transaction volume climbs to $246 billion US in the third quarter

- Growth of 38.2% on last year

- Paypal achieves 85.9% more profits than last year

- 95% of online shoppers in Germany have used the service in the last 12 months

- 11.1% more users compared to last year

- Paypal shares make gains of 88.2% while indices such as the DAX lose value

The value of PayPal transactions worldwide climbed to $246 billion US in the third quarter, representing an increase of 38.2% compared to the same period last year. As a new infographic from Kryptoszene.de shows, profits also climbed by up to 85.9 % on last year. All in all, the corona crisis is accelerating an upward trend for the payment service provider that was already underway.

PayPal is by far the leading provider of online payment services in Germany. As can be seen in the infographic, 95% of online shoppers have used PayPal at least once within the last 12 months. Klarna ranks second with 42%, followed by Amazon Pay with 25%. In total, 20.2% of all online payment transactions in Germany are processed via Paypal.

PayPal is also reaching new heights in terms of transaction numbers. While 3,261 million transactions were processed in the first quarter of the pandemic year, this figure has risen to 4,013 million over the third quarter. The payment service now boasts 361 million active accounts, with the number of users up 11.1% since the first quarter. During the same period last year the growth in active accounts was 10.6%.

"As the most popular online payment method, PayPal is benefiting from the recent shift in consumer behaviour," adds Kryptoszene analyst Raphael Lulay. "While some listed companies have suffered losses as a result of the corona crisis, the price of PayPal shares has almost doubled".

The full story with the infographic, facts and more statistics:

https://kryptoszene.de/38-2-jump-in-paypal-transaction-volume-compared-to-last-year-record-profits-for-online-payment-service-during-pandemic/

About Kryptoszene.de

Kryptoszene.de is a news and information platform that publishes cryptocurrency forecasts, investment news, background reports, analyses and instructions for buying and trading cryptocurrencies and other assets.

Press Contact

Raphael Adrian

raphael@kryptoszene.de

www.kryptoszene.de

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