PayPal Sets Record for Most Donations Collected in 24 Hours
It’s official–PayPal is now in the Guinness Book of World Records. On December 1, 2015, the company managed to collect a total of $45.8 million for charity in just 24 hours, earning the record for “Most money raised online for charity in 24 hours.” By comparison, the previous world record was only $19 million.
This wasn’t the only milestone PayPal managed to reach at the end of the year. The company’s charitable donations rose 28% for the year, and generated 10-20% of its mobile donations within the last three days of the month.
In total, PayPal users donated a staggering $857 million to charity between November 27 and December 31, 2015, more than the company has ever generated in donations over the holiday season. Over seven million people from 183 different countries contributed to the record-setting numbers, and a large portion (21%) did so directly through their mobile phones.
Though competitors like Samsung Pay and Apple Pay are starting to carve out some of PayPal’s market share of mobile and online payments, the company remains strong in charitable donations.
In a statement on the company’s website, PayPal’s Head of Global Social Innovation, Sean Milliken, said, “We want to say a huge thank you to our users who opened up their hearts this holiday season to provide vital resources to causes that are making our world a better place.”
About Bill Hardekopf
Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.