PayPal 2020 Results: ‘Outstanding Finish to a Record Year’
It was the first quarterly earnings report from the payments giant since rolling out its crypto service in late 2020.
PayPal 2020 Results: ‘Outstanding Finish to a Record Year’
In the final quarter of 2020, PayPal gained 16 million in net new active accounts and handled $277 billion in total payment volume. Notably, PayPal’s spending in technology increased year-over-year by more than 30% to $732 million.
Customers who purchased crypto through the platform have been logging into PayPal twice as much as they were before buying crypto, the company said in its investor update.
This is a developing story and will be updated.
