Stan Chudnovsky might have a classic Silicon Valley story, but he’s anything but a typical tech exec. Chudnovsky landed at San Francisco International from his home in Moscow in 1994 with $20 in his pocket. But he made his dream come true making one of the most successful Online Payment System of the world.
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PayPal is a Revolutionary platform transformed the world of money service business.
This infographic takes a look at how Paypal made its way to the top of the online payments world and how it continues to grow bigger.
Compare of all online payment systems we learn from Paypal that numbers speak for themselves. 203 million active users, 1.7 billion payment transactions, 16 million merchant accounts or more to say, 32 payment transactions per active account and also not to forget, over 700,000 websites worldwide use PayPal. The PayPal website ranks 73 on the worldwide most used websites.
Let’s look a little into the worldwide adoption of this new way of paying and receiving money. Well, you can use the service in over 202 countries and you can withdraw funds in 56 currencies. 18000 people from PayPal make all this happen to support your balances to be held in 25 currencies.
Looking it high and lows might be a chance to understand more the success. Think about, 8000 transactions every second, everyday payment of over 315.3 million dollars are processed and mobile users are making $ 1.2 billion of transactions last year.
Last quarter the net income reached $ 384 million which is up 5.2% in 2016. The number of payment transactions increased by 22.5% in 2016 and in 2017 active users reached an all time high of 6 million. All of this indicates to us that Online Payment System is on the rise.
Paypal is the 3rd most popular payment method after Mastercard and Visa. The service stands for itself and it’s awarded, over 20 times the company received recognition and awards for excellence. PayPal is also recognized as a safe way of paying. 86% of all customers would anytime recommend PayPal as payment service which is a very high achievement.
History and Timeline
Let’s look a little back and the major milestones which have been achieved. So how did all get started? 1998 Paypal’s prototype Confinity Inc was founded by Ken Howery, Luke Nosek, Max Levchin, Peter Thiel and Elon Musk. In its early stage, the company grew 10% nearly every day. Signing up at this time brought $20, $10 or $5 each time which leads to the success.
In summer 2000 the number of PayPal users jumped from 1 to 5 million. The account base jumped to over 100,000 after partnering with eBay.
In the year 2002 PayPal joined the world of publicly traded companies. It was the shining start on Nasdaq of the launch year with 55% of growth and also later the year eBay finally bought PayPal for $1.5 billion. Later 2014 PayPal spun off again from eBay. The market value climbed to the $49 billion on its first official day trading after splitting from eBay. Comparing now eBay and PayPal on the stock market showed greater success for PayPal without being parented to eBay.
The success story continues with big partnerships.
The Infographics illustrate more information on demographics usage of the service. However also the low lights are mention where PayPal is not allowed to be used or not supported to be used. Also, the market itself is a little highlighted, competitions and don’t miss the fun facts which will make you smile.
Enjoy reading the Infographic published by Play N Pay in total below, The Success Story of The Biggest Online Payment System, PayPal.