PayPal racked up a 10.2% gain in year-on-year (YOY) accounts to 173 million. Gross transactions soared by 25.1% from 972 million in Q3/14 to 1216 million for 3Q/15.
PayPal net total payment volume (TPV) grew 19.8% in the third quarter to $69.7 billion. On an FX-neutral basis, PayPal TPV grew 27%.
The company reported record revenue for the period of $2.3 billion, an increase of 15% on a non-GAAP pro forma basis and 19% on a foreign currency (FX) neutral basis.
In the quarter, PayPal continued to add new partners to acquire customers like Macy’s, Shell in the UK and Latin America’s largest mobile wireless provider America Movil. PayPal’s large global customer base and strong two sided platform are tremendous assets and difficult to replicate.
The PayPal Working Capital product achieved a milestone, having facilitated more than $1 billion in credit to small and mid-sized merchants since inception. Repeat usage for this product and high customer satisfaction rates demonstrate that by designing offerings to serve its customers’ needs coupled with global ubiquity, PayPal can create a virtuous cycle and sustainable platform.
Q2/14: 152.5 million
Q3/14: 156.9 million
Q4/14: 161.5 million
Q1/15: 165.2 million
Q2/15: 169.0 million
Q3/15: 173.0 million
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).