Source: site
PayPal has secured third position in the Top 100 FinTech Companies list, recognition that comes as the digital payments platform executes a transformation strategy designed to extend its reach beyond transactions into commerce.
The San Jose-based firm operates across 200 markets with 434 million active accounts comprising both consumers and the 36 million merchants who use its services.
In 2024, the platform processed US$1.68t in total payment volume and generated US$31.8bn in revenue, representing growth of 10% and 6.7% respectively.
Transition from Payments to Commerce Platform
Under CEO Alex Chriss, who joined in September 2023 from Intuit, PayPal has shifted from what Chriss describes as a company people “know and love, just online” to one that aims to be “available everywhere a consumer or a merchant wants to transact.”
The strategy represents a departure from the single-product approach that built the company’s reputation over two decades.
“This is a new PayPal,” Chriss said at the company’s February 2025 Investor Day. “Call it PayPal 2.0. Call it the next chapter.”
The transformation includes PayPal Open, a merchant platform launched in February 2025 that consolidates payment tools, financial services and risk solutions.
The platform became available in the United States in spring 2025 with expansion to the United Kingdom and Germany following later in the year.
PayPal has also announced partnerships with J.P. Morgan Payments to expand its Fastlane checkout service to Europe and the UK, and with Verifone to deliver omnichannel payment solutions to enterprise merchants.
In July 2025, PayPal initiated a technology infrastructure overhaul expected to cost up to US$300m over 18 to 42 months.
The initiative includes workforce reductions to be completed by 2027 and focuses on improving scalability, reducing network latency and decreasing operational costs.
“For 25 years, PayPal has revolutionised how money moves between people. Now, we’re taking the next major step”
Expansion into Cryptocurrency and Peer-to-Peer Payments
The company has expanded its cryptocurrency services throughout 2025. In July, it launched Pay with Crypto, allowing U.S. merchants to accept more than 100 digital currencies including Bitcoin, Ether, Solana and its own stablecoin PYUSD.
The service converts crypto payments instantly into stablecoins or fiat currency to eliminate volatility risk for merchants.
“For 25 years, PayPal has revolutionised how money moves between people. Now, we’re taking the next major step,” said Diego Scotti, General Manager of the Consumer Group at PayPal. “Whether you’re texting, messaging, or emailing, now your money follows your conversations.”
PayPal announced in September 2025 that it would make PYUSD available on the Stellar network pending regulatory approval, adding to its existing presence on Ethereum and Solana.
The company also introduced PayPal links, personalised one-time payment links that can be shared across messaging platforms, with U.S. availability beginning in September and international expansion following.
Venmo, PayPal’s peer-to-peer payment subsidiary, recorded more than 90 million active users in the United States.
The company projects Venmo will generate US$2bn in revenue by 2027, compared to US$900m in 2021. Venmo debit card payment volume is expected to grow at more than 20% annually, with Pay With Venmo expanding at twice that rate.
Financial Performance and Strategic Outlook
In the second quarter of 2025, PayPal reported revenue of US$8.3bn, representing 5% growth, and raised its full-year guidance. The company processed US$443.5bn in payment volume during the quarter, a 6% increase. Transaction margin dollars grew 7% to US$3.8bn.
Jamie Miller, who joined as Chief Financial Officer in November 2023, was appointed to the expanded role of Chief Financial and Operating Officer in February 2025.
“PayPal is a unique company that truly sits at the center of commerce given its globally recognised brand and leading portfolio of assets,” Miller said upon her appointment. “There is tremendous growth potential in front of this company.”
The company maintains a 45% share of the global online payment market. For 2027, PayPal expects high single-digit transaction margin dollar growth and growth in non-GAAP earnings per share in the low teens or higher. The longer-term target calls for non-GAAP earnings per share growth exceeding 20%.
PayPal returned US$6bn to stockholders through share repurchases in 2024 and entered 2025 with US$6.8bn in free cash flow. The company holds a market capitalisation of approximately US$74bn.
Upcoming Events
