The forecast: Following double-digit growth in 2021, total transaction value on PayPal’s core platform will jump 22.3% this year to reach $1.144 trillion globally, surpassing the $1 trillion mark for the first time.
Dive deeper: The pandemic has accelerated demand for touchless payment apps, solidifying PayPal as the worldwide leader in the space.
Looking ahead: PayPal will continue growing at a strong rate as consumer interest in flexible payment options rises due to pandemic-fueled demand for fewer touchpoints in stores and easier checkout processes online. As cash usage falls and ecommerce skyrockets worldwide, digital wallets and payment systems like PayPal will become more relevant than ever.
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