PayPal Holdings, Inc., founded in 2015, is a prominent technology platform facilitating digital payments and streamlining commerce for both merchants and consumers across the globe. The company's mission is to democratize financial services, enhance individuals' financial well-being, and foster economic opportunities for businesses. PayPal enables users to manage and transfer funds worldwide on any platform or device, including person-to-person payments (P2P).
PayPal operates a vast, two-sided network connecting 435 million active accounts (400 million consumer accounts and 35 million merchant accounts) in over 200 markets as of December 31, 2022. They offer payment solutions for online and in-person transactions, empowering customers to use PayPal or Venmo accounts to make purchases, receive payments, and transfer funds. PayPal supports merchants with payment processing, risk management, customer engagement, and cross-border commerce.
The company's revenue primarily derives from fees based on transaction volume and other payment-related services. Additional income streams include foreign currency conversion fees, instant transfers, cryptocurrency facilitation, and value-added services such as partnerships, interest on credit products, and referral and subscription fees.
Source: Company 10K