In a report on Q4 and the year of 2018, PayPal Holdings Inc. said that the company wasn’t dependent on eBay Inc. Besides, Venmo monetization went up, and active accounts grew. Now, PayPal is focused on alternative ways to process transactions and increase revenue. What about you? Do you need a check by phone or other payment processing services to grow your business? Well, this article will help you with that.
PayPal, eBay, Venmo: Numbers & Stats
First of all, let’s find out how PayPal has been growing in recent years:
- PayPal’s revenue reached $4.23 billion in Q4 of 2018, which, thus representing the 1st time the company had surpassed $4 billion in a quarter, rising by 13% YoY.
- The revenue for the full year accounted for $15.45 billion, which was up 18% over 2017.
- Active accounts made up 267 million, and at least another 33 million is expected to be added in 2019, thus reaching 300 million.
- Payment volume for 2018 went up 27% to account for $578 billion on 9.9 billion transactions, which was up by 27%.
- The total payment volume for Q4 counted for $163.6 billion, which was up 23% YoY. Payment transactions made up 2.9 billion, which was up 28%.
- The volume of added net new active accounts made up 13.8 million: that number was 8.7 in 2017. 2.9 million of the new accounts were driven from the following top acquisitions in 2018: from European POS provider iZettle AB, and from US payments provider Hyperwallet.
- Mobile is still a major factor and accounted for $67 billion in volume in Q4, which was up 40% YoY, thus reaching 41% of total volume.
Check by Phone
PayPal’s recently been making strides in monetization, and PayPal’s Venmo payments surged 80%. Now, Venmo is becoming a real money-maker for PayPal, its parent company. PayPal CEO Dan Schulman notes that they don’t want to get again too far ahead of themselves. However, they’re quite pleased with the growth of Venmo, which is really going from strength to strength.
What about your company? Do you have a reliable merchant account to start accepting credit cards online? This is a must if you want to grow in the modern world of business. Well, even if you don’t have, this isn’t an issue to worry about. You just need to turn to a reputable credit card processor to get the most secure and cheapest payment processing solutions such as a check by phone for your business.
Apart from the growth PayPal has had, the company further expects its revenue to rise16-27% at current spot rates and 16-17% on an FX-neutral basis, to account for some $17. 850 – $18.100 billion for the full year 2019. When it comes to Venmo, the company is anticipating future growth as well. Currently, PayPal is going through a stage of transition.
The modern business world is developing and changing rapidly, and you should always keep your finger on the pulse. Working with a respectable payment processor is just a must if you want to move forward successfully.
Author Bio: Electronic payments expert Blair Thomas is the co-founder of high risk payment processing company eMerchantBroker that offers exceptional merchant services, including a check by phone, to merchants of any type and size. He’s just as passionate about his business as he is with traveling and spending time with his dog Cooper.