Are you planning to purchase kitchen appliances on eBay and handmade crafts on Etsy and want an easy payment process?
Paypal is the key.
This online payment platform lets you securely make payments with just a few clicks using your smartphone.
About 87.5% of online buyers used this platform and over 22 billion have completed transactions in 2022.
Do you want to know the PayPal users count in 2024 and other exciting statistics about this online payment platform?
Let’s find out.
Key Statistics
- The number of PayPal users reached 433 million in 2023.
- The United Kingdom had the most number of PayPal daily active users in Europe, with over 300,000 in 2019.
- In 2022, there were roughly 35 million PayPal merchant accounts.
- Average PayPal accounts had 51 transactions in 2022.
- The count of websites using PayPal surpassed 1.79 million in July 2023.
- Consumers in Germany are 137% more likely to buy if a merchant accepts PayPal payment.
- PayPal is primarily used by older users in the US aged 50 to 64, accounting for 31%.
PayPal Users: How Many People Use PayPal in 2024?
PayPal is one of the trusted online payment systems operating as an electronic payment platform.
It allows individuals and businesses to securely and conveniently send and receive money over the internet.
According to the most recent report, the PayPal user count reached 433 million in 2023.
These registered active accounts declined from 435 million in the previous quarter.
In Europe, the United Kingdom had the most number of PayPal daily active users, with over 300,000 in 2019.
Most users create a PayPal account and link it to their checking account and credit card to have multiple funding sources.
This helps them to have more flexibility when making payments or receiving funds.
Number of PayPal Users Worldwide from 2017 to 2023
Let’s take a look at the numbers of PayPal users worldwide from Q4 2017 to Q1 2023:
- Paypal users reached 229 million in Q4 2017
- Paypal users reached 267 million in Q4 2018
- Paypal users reached 305 million in Q4 2019
- Paypal users reached 377 million in Q4 2020
- Paypal users reached 426 million in Q4 2021
- Paypal users reached 435 million in Q4 2022
- Paypal users reached 433 million in Q1 2023
PayPal Users in Europe
In 2019, Europe had various electronic payment methods and mobile wallets.
However, PayPal is one of the few widely used and accepted.
Among the 21 European countries using PayPal, the United Kingdom had the most daily active users in 2019, accounting for an average of 330,134.
Germany comes next, with 312,011.
Average Number of PayPal Daily Active Users in Europe
Here is the list of the average number of PayPal daily active users in some countries in Europe:
- United Kingdom – had an average of 330,134 PayPal daily active users in 2019
- Germany – had an average of 312,011 PayPal daily active users in 2019
- France – had an average of 96,124 PayPal daily active users in 2019
- Italy – had an average of 71,811 PayPal daily active users in 2019
- Russia – had an average of 69,306 PayPal daily active users in 2019
How Does PayPal Work?
Paypal is a popular digital payment platform that offers a convenient and secure way to make online purchases, receive payments, and send money.
It serves as an alternative to traditional paper-based payment methods.
Merchants can integrate PayPal as a payment option on their websites or use a PayPal card reader in physical stores.
Setting Up a PayPal Account
To set up an account, users will provide an email address and link a funding source, such as a credit card, debit card, or bank account.
PayPal verifies the information to ensure security and authenticity before users can use the service.
Cash can be transferred to any phone number or email address, even if the recipient does not have a PayPal account.
How Many Merchant Accounts on PayPal?
PayPal enables merchants to accept online payments and process transactions through PayPal’s payment processing services.
As of 2022, there are approximately 35 million PayPal merchant accounts, up from roughly 13 million in 2015.
The following are the numbers of merchant accounts on PayPal from 2018 to 2022:
- PayPal merchant accounts hit 21 million in 2018
- PayPal merchant accounts hit 24 million in 2019
- PayPal merchant accounts hit 30 million in 2020
- PayPal merchant accounts hit 33 million in 2021
- PayPal merchant accounts hit 35 million in 2022
PayPal Transactions per Account
As of 2022, the average PayPal accounts have approximately 51 transactions annually, equivalent to a 13.33% growth from the prior year.
Below are the numbers of PayPal transactions per account from 2018 to 2022:
- Average PayPal accounts recorded 36 transactions in 2018
- Average PayPal accounts recorded 40 transactions in 2019
- Average PayPal accounts recorded 40 transactions in 2020
- Average PayPal accounts recorded 45 transactions in 2021
- Average PayPal accounts recorded 51 transactions in 2022
How Many Websites Use PayPal?
The number of websites using PayPal exceeded 1.79 million in July 2023, increasing by 0.11% from the previous month.
More than 495,000 websites are from the United States, while nearly 111,000 are from the United Kingdom.
Germany follows, with almost 90,000 websites, and Italy, with 62,000.
The Willingness of Consumers to Buy via PayPal
A study reveals that people are more willing to buy when a merchant accepts PayPal payment.
There is a 54% increase in consumer willingness to buy a product when this payment method is available upon checking out.
Consumers in Germany are responsive to the availability of PayPal, with a significant 137% increase in the likelihood to purchase if a merchant offers PayPal as a payment option.
Consumers in Australia are 66% more likely to buy if a merchant accepts PayPal payment.
Who Uses PayPal the Most in the US?
As of March 2023, PayPal is primarily used by older users in the United States aged 50 to 64, accounting for 31%.
About 28% of PayPal users in the country are from 30 to 39 years old, and 22% are 40 to 49 years old.
Younger users aged 18 to 29 are the least, accounting for 19%.
Conclusion
At present, PayPal is used by a vast number of businesses, online platforms, and individuals globally.
The widespread acceptance makes the service convenient for users to pay and purchase on various
e-commerce platforms, websites, and marketplaces.
As of Q1 2023, PayPal users are around 433 million, recording a 0.9% year-on-year growth. Most of its users in the US are 50-64 years old.
Because of its convenience and security, about 1.79 million websites use this online payment system today.