PayPal Stories Archive

Not only was Cyber Monday the biggest online shopping day in PayPal’s history and #GivingTuesday was our biggest online day of giving, but it was our biggest week ever for peer-to-peer (P2P) payments at PayPal. 

 

People using P2P payments to pay each other back or gift money for Christmas and gifts are obviously a big factor this time of year and are among the most popular transactions we’re seeing right now. We saw a 121% increase in P2P for Christmas related payments and a 117% increase in P2P usage for gifts compared to the week before. People are turning to us for the ease and security they expect when they use digital payments to send and request money.

 

In fact, in September we introduced PayPal.Me, which makes it much easier and faster when requesting money from groups of friends, family and colleagues*. And, we just reached 1 million PayPal.Me links created around the world in just 100 days (you can still grab yours here).

 

P2P payments are quickly on the way to becoming ubiquitous, and helping people pay and get paid back in moments. This has become the largest year for P2P payments at PayPal. Venmo reached $2.11B in payment volume in Q3 alone, up an astounding 201% year over year. We also welcomed Xoom into our family.

 

With only two weeks left this year, don’t forget to give, and especially don’t forget to pay eachother back for your holiday festivities or last minute shopping.

 

*Sender must have or open a PayPal account.