PayPal has recently announced its robust third-quarter financial results – driven by the influx of new users and a record amount of payment transactions.
It has added nearly 15.2 million net fresh active accounts amidst the third quarter of 2020. This has brought its total active account numbers to 361 million. Basically, the pandemic has driven the digitalization of payment processes more among people.
The company also processed 4 billion payment transactions, and thus, it now runs on a rate of approximately 1 trillion dollars in the payment volume. With time, it is planning to create more expansive digital wallets covering other digital payments and currencies.