PayPal grew 26% in Q3

Şükriye Akdeniz

Nov 9, 2021

Expected Paypal Q3 financial report released

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In the financial report announced, it was reported that Paypal company increased its revenues by 13 percent in the third quarter. Considering that integrating crypto offers has an important place in this revenue increase, PayPal company signaled that its expansion in the crypto field will continue.
PayPal's Q3 2021 financial report shows that they have reached 416 million active accounts, while payment volume has risen to $310 billion. Thus, PayPal's net income reached $6.18 billion, resulting in 26% growth.
Paypal reported in its third-quarter report that Venmo reached nearly $60 billion in total payments volume. This figure was determined as 38.4 billion dollars at the end of the second quarter.
The announcement also revealed that PayPal has a plan for customers to use Venmo for purchases made on Amazon next year. However, it was stated that the new decision will be valid only for American customers at first.
“We are working with Amazon to enable customers in the US to pay with Venmo at checkout. Starting next year, customers will be able to shop on Amazon.com and the Amazon mobile shopping app using their Venmo account.”

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