80+ Unbelievable PayPal Facts You should Know

paypal facts

Here Are The List Of 80+ Unbelievable PayPal Facts You Should Know:

Fun Facts of PayPal:

  • $10 Payments Helped Led PayPal to an IPO
  • eBay Bought PayPal Very Early
  • PayPal’s Founders Transformed Silicon Valley
  • PayPal Employees Changed Online Video Forever
  • PayPal Spun Off from eBay Not Too Long Ago
  • Today the Company Boasts 200 Million Active Users
  • PayPal Owns a Millennial Powerhouse (Source: Yahoo Finance)
  • PayPal currently has 286 million active users.
  • If it were a bank, PayPal would be the 21st largest bank in the US.
  • eBay bought PayPal for $1.5 billion, only to separate from it in 2015.
  • The average PayPal user conducts 36.9 transactions per year.
  • 87.5% of online buyers use PayPal.
  • PayPal had $15.45 billion in revenue in 2018.
  • PayPal was expected to exceed $17.70 billion in revenue for 2019.
  • The average PayPal user has $485 in their account. (Source: Spend Menot)

Unbelievable PayPal Facts:

  • PayPal was founded in December 1998 in Palo Alto, California, USA.
  • The PayPal Headquarters is currently located in San Jose, CA.
  • PayPal is an American e-commerce company specializing in Internet money transfers.
  • A series of security advancements earned PayPal respect in terms of identity theft prevention.
  • The PayPal customer service number is 00 1 402-935-2050.
  • Opening a PayPal account does not require any fee.
  • Today, PayPal supports 25 currencies from all over the world.
  • A fifth of PayPal transaction volumes in 2019 was made up of cross-border transfers.
  • In December 2019, PayPal became the first foreign platform licensed for domestic payments in China.
  • PayPal is also a platform used in 650 airlines for selling domestic and international flights.
  • PayPal works by facilitating money exchange in a secure online transaction.
  • The company first had the PayPal logo after officially changing its Confinity name.
  • Designers critiqued that the older version was better than the 2007 PayPal logo revision.
  • The most noticeable feature of the 2014 PayPal featured a new ‘a’ character.
  • eBay owned PayPal from 2002-2015.
  • PayPal branched out as an independent company in 2015.
  • Various retail and institutional investors own PayPal stock.
  • PayPal has superior anti-phishing and anti-hacking measures.
  • PayPal stock has been on a consistent track since 2010.
  • In 2019, PayPal stock reported $3.10 of worth per share.
  • On March 11, 2020, PayPal stock trading places at $103.90.
  • PayPal currently operates in 200 countries.
  • PayPal acquired the VeriSign payment solution in 2005.
  • In 2008, PayPal acquired Fraud Sciences for $169 million.
  • When PayPal separated from eBay, it became a public traded company.
  • iZettle has been the company’s largest acquisition which PayPal got for $2.2 billion.
  • PayPal erroneously credited $92,233,720,368,547,800 to a man named Chris Reynolds.
  • PayPal offered to donate an unspecified amount of money to a cause of Reynolds’ choice.
  • PayPal won 5 awards from 2018 to 2019.
  • In 2014, PayPal achieved the Zinnov Awards under the category ‘High Impact Global Roles.’
  • PayPal customer service limited its staffing due to the COVID-19 pandemic.
  • Among the most misunderstood PayPal facts are PayPal fees, which vary per transaction.
  • PayPal fees are charged when the users send money with debit or credit cards.
  • PayPal charges additional fees for sending money to people from other countries.
  • Merchants who use PayPal for processing payments need to pay PayPal fees for each transaction.
  • PayPal never asks users to enter their password unless they are on the login page.
  • PayPal never asks users to enter their PayPal customer service closes for certain hours while Stripe is open 24/7.r password unless they are on the login page.
  • Stripe vs PayPal also differs in payout times.
  • The first difference of Venmo vs PayPal is that PayPal owns Venmo.
  • PayPal Shipping rates vary on how much a merchant charges its customers for shipping items.
  • Users can compute complex shipping rates with the PayPal Shipping Calculator.
  • The PayPal fee calculator determines fees when sending or receiving money through the platform. (Source: Facts)

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Few Secret PayPal Facts:

  • Peter Thiel, the Founder with a Plan that Gets Kids to Leave School Under the Thiel Fellowship, twenty 20-year old teenagers/young adults are given US$100,000 in a time-span of 2 years if they choose to drop out of school and pursue their business dreams.
  • PayPal doesn’t work in Pakistan, Afghanistan, and Iraq. The company also refuses to serve a number of other countries listed on America’s economic sanction list, which I think you know where is.
  • Not 10. Not 15. But 26 different currencies on an account at any given time. Wah, so many. I thought I’m being crazy by holding on to SGD, RM, and USD.
  • YouTube was founded by three former PayPal employees – Steve Chen, Jawed Karim, and Chad Hurley. They used a mixture of PayPal’s connection and business model to bring us the most well-known video-sharing website in the history of this millennium. I mean, come on. Despacito has been shared there just more than 3 billion times already.
  • LinkedIn, Friendster, and even Yelp has been part of his business ventures. Come to think of it, big game-changers seem to come together, doesn’t it?
  • The company came to fruition when some employees left eBay to start their own thing. They’re then called the PayPal Mafia, which comes to think of it, is pretty apt. Up until today, people still call the founders Paypal Mafia. Kinda cool, isn’t it?
  • Guess how many Paypal accounts are there now? As of early 2017, there’s a totality of 197 million active accounts, and 15 million active merchant accounts. In 2015, they processed well over 4.9 billion payments.  (Source: Goody Feed)
  • Over 250,000 websites have listed PayPal as an available online payment method.
  • PayPal remains the most widely accepted online payment method throughout the world.

Amazing PayPal Facts:

  • In 2013 PayPal accidentally credited $92 quadrillion to a Pennsylvania man.
  • When Paypal was started they gave $20 to everyone that made an account and $20 for every person they referred. This cost them 60-70 million dollars but they had 100,000 costumers, in the month PayPal went online.
  • Elon Musk was ousted from Paypal when he wanted to move everything from Unix to Microsoft.
  • Paypal was voted one of the 10 worst business ideas of 1999. – Source 5. Around 20 years ago, PayPal was originally called ‘X’. – Source
  • Venture capitalist Peter Thiel co-founded PayPal to wipe out currency inflation worldwide.
  • A restriction by Paypal was necessitated some years back because many Nigerians used the payment platform to defraud many foreign buyers on eBay.
  • You can give money via Paypal to North Korea but not to Wikileaks.
  • Elon Musk had to borrow money to pay rent after he spent all $180 million from PayPal.
  • PayPal made eBay customer destroy his $2,500 violin and gave the owner nothing. (Source: Kick Ass Facts)

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