[SMK] Social Media Knowledge

DIGITAL MARKETING NEWS

Number Crunch: PayPal 2016

While Apple Pay and Square might have a certain cultural chic, PayPal remains the undoubted king of the online payments block. The Facebook of transactions, if you will.

Now 18 years old, today we’re looking back at the venerable, and very powerful, pay master.

Growing Pays

PayPal was conceived back in 1998 as a payments service for Confinity, a company which developed security software for mobile devices.

In 2000 Confinity merged with Elon Musk’s X.com. The joint venture was eventually renamed PayPal in 2001.

One year later the company went public and quickly notched up US$61 million in revenue.

In June 2002 eBay snapped up the start-up for a cool US$1.5 billion.

Click for cash

There are now 180 million active PayPal accounts, each one of these makes around 27 transactions a year.

Over a typical year 4 billion payments are made through the service, a quarter of these on mobile.

Monopoly man?

One third of all US e-commerce transactions now happen on PayPal. However its reach stretches far around the globe.

PayPal is available in 203 markets and 100 currencies.

Greed is good

More than 1 million merchants currently use PayPal OneTouch, the company’s mobile payments service.

Over a typical week PayPal OneTouch processes 1.5 million payments.

Learn with SMK W/C 4th July 2022

Start your SMK: Digital Excellence 30-day free trial today and unlock unlimited, on-demand access to hundreds of hours of digital masterclasses, training courses and hands-on tutorials.

Your risk-free trial offers the perfect opportunity to expand and upgrade your digital intellectual property.

Each month SMK releases 30 hours of new and updated social media and digital marketing educational course content, ensuring you never get left behind – be it on digital strategy, tactics or implementation.

Alongside this, SMK offers live help and support weekly within the SMK Working Group. It might be a quick fix or the root of a bigger problem; either way, a problem shared is a problem halved. On a day-to-day basis, SMK’s team gives you hands-on support and fresh ideas.

Not to mention a shoulder to cry on, occasionally

SMK Labs running this week

Mon 4th July: Member Clinic from 1 pm – 2 pm AEST

  • Live help and support from SMK’s team of analysts
  • Book in to request a personalised discussion for 15 or 30m via Zoom within the Facebook Working Group

Tues 5th July: Member Clinic from 1 pm – 2 pm AEST

  • Live help and support from SMK’s team of analysts
  • Book in to request a personalised discussion for 15 or 30m via Zoom within the Facebook Working Group

Thurs 7th July: 2022 Social Media Strategy Optimisation, 10 am – 12 pm AEST

  • Module Three in SMK’s updated and expanded 2022 Social Media Strategy Optimisation strategy course 

Fri 8th July: Digital Design for Non-Designers: 10 am – 12 pm AEST

  • Module Three in SMK’s Digital Design for Non-Designers, helping businesses maximise creative results 

Leave a Comment