PayPal Gains Record Number of New Users in Fourth Quarter

PayPal Gains Record Number of New Users in Fourth Quarter

February 2, 2016         Written By Lynn Oldshue

PayPal gained a staggering 6.6 million accounts in the fourth quarter of 2015, a dramatic increase from the quarterly average of four million new accounts. The company says a big reason for its record-setting numbers is due to the shift to mobile shopping, particularly during this year’s holiday shopping season.

Another reason for this increase in PayPal users is the company’s acquisition of Xoom late last year. This yielded an additional 1.5 million active users for PayPal.

Overall, PayPal now has a total of 179 million active accounts. Programs like PayPal One Touch have seen tremendous growth over the last year, which could further contribute to the number of new users.

Perhaps the most important conclusion to draw from this success is that PayPal is doing well even after splitting from eBay. The company continues to progress forward post-split, which comes as no surprise because analysts feel PayPal was keeping eBay afloat prior to their current arrangement.



The information contained within this article was accurate as of February 2, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


lynn-oldshue

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.
View all posts by Lynn Oldshue
Featured Low Interest Card
Top Features : 1.25X miles on every purchase; no annual fee; bonus of 20,000 miles once $1,000 is spent in first 3 months
Featured Cash Back Card
Top Features : No Annual Fee, Bonus Offer, Cash Back
Featured No Annual Fee Card
Top Features : Earn cash back twice. 1% when you buy plus 1% as you pay; 0% APR for 18 months on balance transfers
Featured Bad Credit Card
Top Features : No Annual Fee; Cash Back match at the end of your first year; Social Security Alerts
Featured Fair Credit Card
Top Features : No annual fee; access to higher credit line after making first 5 monthly payments on time
Featured Limited/No Credit
Top Features : No annual fee; reports to major credit bureaus; access to higher credit line after making first 5 monthly payments on time