Competitor Profile: PayPal 2024

Competitor Profile: PayPal 2024

Summary

PayPal is one of the largest global payment services providers. It enables digital payments and offers acceptance solutions for consumers and merchants. The company specializes in online payments, mobile and ecommerce, fund transfers, and payment processing. It has expanded its capabilities through the acquisitions of Zong, Paydiant, CyActive, Modest, Braintree, Xoom, and Zettle (previously known as iZettle).

PayPal is now available in more than 200 markets. It is particularly active in the US, the UK, Germany, Australia, and New Zealand. The solution is accepted at over 35 million merchants globally and supports all major payment networks, including American Express, Visa, Mastercard, UnionPay, and Discover. Following its spinoff from eBay in July 2015, PayPal operates as an independent publicly traded company. Its platform allows consumers and merchants to receive funds in over 100 currencies.

Buy now pay later (BNPL) services are increasingly gaining in popularity among consumers globally, particularly for ecommerce purchases. To capitalize on this trend, PayPal is focusing on expanding its BNPL services. The company also entered the cryptocurrency services space in October 2020. In addition, PayPal launched PayPal Savings - an interest-bearing savings accounts - in collaboration with Synchrony Bank.

The report provides information and insights into PayPal including -

• Detailed insight into its business
• Comprehensive coverage of its products and services
• Comparative assessment with key alternative payment solutions
• Information on its revenue model and performance highlights
• The company's important events and milestones

Scope

• In October 1999, PayPal officially launched in the US.
• In November 2016, PayPal introduced Siri voice command functionality for users with iOS10 devices in 31 countries, enabling users to make payments via voice command.
• In May 2021, PayPal acquired digital asset security infrastructure provider Curv to further expand its services in cryptocurrencies and digital assets.
• In April 2023, PayPal launched Crypto Transfers, enabling Venmo users to transfer cryptocurrency to other Venmo users, PayPal wallets, and other mobile wallets.
• In May 2024, PayPal partnered with cryptocurrency trading platform MoonPay, allowing users to purchase and sell cryptocurrencies using their PayPal accounts.

Reasons to Buy

• Gain insights into PayPal business operations and key events.
• Gain insights into its product portfolio, revenue model and performance highlights.
• Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.