– Total Payment Volume (TPV) of $222 billion, growing 29% YoY
– Revenues of $5.26 billion, growing 22% YoY
– Cash flow from operations of $2.4 billion, growing 103% YoY, with a free cash flow of $2.2 billion, growing 112% YoY.
– 21.3 million Net New Active Accounts (NNAs) added; strongest quarter for NNAs in PayPal’s history
(Paypal Earnings, 2Q 2020)
Arushi Chawla's key takeaway:
- 2020 Q2 proved to the strongest quarter for PayPal. The widespread roots of PayPal have reflected its strength during government restrictions and lockdowns.
- In the midst of the pandemic, the company’s stellar consumer and merchant support was considered a key success factor.
- The proactive nature of the company towards collaboration/partnership and the introduction of new payment options has helped it sustain growth. These initiatives include:
- Deployment of QR code technology in 28 markets globally.
- Entered commercial relationship with Gojek.
- Enabled direct deposit for Venmo users. Venmo also launched Business Profiles, a new offering that allows sole proprietors and casual sellers to have a professional presence on Venmo’s platform.
- Now available as a payment option within Mercado Pago’s online checkout for shoppers in Brazil and Mexico.
- Expanded its Visa Direct partnership globally to accelerate real-time access to funds for small businesses, consumers and partners across PayPal’s platform.