Annual TPV (Total Payment Volume) of PayPal in USD 2012-2024
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In 2024, PayPal's total payment volume or TPV grew by around 10 percent year-on-year, as the digital payment provider grew in importance over the year. One of the areas where PayPal typically sees growth in their TPV is in Venmo: the P2P payment service recorded a payment volume growth of nearly 10 percent in Q4 2024 - even if its TVP was about four percent when compared to PayPal's total volume.
PayPal faced challenges
At first glance, PayPal continued to process more payments as 2024 progressed. In the fourth quarter of 2024, the company's quarterly TPV grew by almost seven percent compared to the same quarter the previous year. This growth was supported by over six billion transactions processed during that period. However, the company did experience a decline in its number of processed transactions. This was somewhat expected as the company saw 2024 as a "transition year", as it sought further profitability.
Domestic P2P a big focus for 2025
The success of Venmo is increasingly becoming a focal point for PayPal's growth strategy. The peer-to-peer service had a United States adoption rate of about 14 percent in 2024, highlighting a strong market presence and potential for further expansion. However, this strategy does not align with international payments: P2P is believed to be the smallest segment within cross-border payments by 2032.
