Checking out PayPal’s recent earnings, Q4 2020
- PayPal reported record highs in its revenue performance in the latest quarter of 2020.
- After exceeding the volume of its crypto projections, the firm plans to expand its crypto services in the UK as its first international market.
PayPal reported its strongest performance in net active users with a total of 377 million active accounts and a quarterly growth in total payment volume of $277 billion in its Q4 earnings release last month.
“This is the strongest quarterly growth we’ve reported in history and represents 14 points of acceleration from 2019. Our merchant services volume grew 40 percent, another record for PayPal, accelerating each quarter in 2020,” said PayPal’s chief financial officer, John Rainey in the company’s Q4 2020 earnings call.
Widespread e-commerce adoption and digitization spurred by the pandemic proved integral to the global payments network’s customer acquisition and elevated engagement levels. It drove 4.4 billion transactions in the fourth quarter of 2020. The fintech currently supports an ecosystem of over 29 million merchants interacting with around 350 million customers.
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