The eBay PayPal divorce is over and will quickly evolve into a major disruptive force in payments and e-commerce to the dismay of the payment networks. Under the leadership of former American Express executive and now PayPal President and CEO Dan Schulman the Company will likely grow at a compound annual growth rate (CAGR) of nearly 17%.
PayPal is now an independent public company trading on the Nasdaq Stock Market under the ticker symbol “PYPL.” The company’s leadership team joined with employees and merchants to push the iconic PayPal button to ring the opening bell at Nasdaq to mark the milestone.
PayPal is well-positioned to deliver the benefits of digital money to people around the world. In 2014, PayPal processed $235 billion in total payment volume and generated more than $8 billion in revenues. Also last year, PayPal processed $46 billion in mobile payment volume. The company serves more than 169 million active customer accounts in 203 markets around the world.
PayPal previously was listed on the Nasdaq under the same ticker symbol “PYPL” before it was acquired by eBay Inc. in 2002 for $1.5 billion.
PayPal processed 4 billion payments last year, of which 1 billion were made on mobile devices. The Company has 169 million active customer accounts. PayPal is a truly global payments platform that is available to people in 203 markets, allowing customers to get paid in more than 100 currencies, withdraw funds to their bank accounts in 57 currencies and hold balances in their PayPal accounts in 26 currencies.
PayPal net total payment volume (TPV) grew 20% in the second quarter to $66 billion, with Merchant Services volume up 27% and on-eBay volume down 1%. On an FX-neutral basis, PayPal TPV grew 28%, with Merchant Services volume up 36% and on-eBay volume up 6%.
PayPal also agreed in the second quarter to acquire Xoom Corporation for approximately $890 million net of cash
For data, background and forecasts on PayPal: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).