World giant companies continue to publish their 2021 balance sheets one after the other. PayPalAccording to the latest statement of , the growth of the company decreased in the last quarter of 2021.
Indeed, 2021 was a strong year for PayPal overall, but after this latest report, the company will likely make more crypto-related efforts in 2022.
Growth has slowed on several metrics, according to the company’s financial report for the final quarter of 2021. Supply chain challengesIt is stated that s has a significant share in this decline.
Financial technology company PayPal saw strong growth in previous quarters, but then slowed down. Among the highlights of the report is the total payment volume (TPV). Accordingly, TPV, which reached $1.25 trillion in 2021, showed a 23% growth by declining compared to previous periods. The company has 49 million net new active accounts.
On the other hand, the company described its performance in 2021 as “strong” despite the slowdown in growth. As a matter of fact, last year’s numbers were better than 2020, which was a “record” year for the company. Total revenue in 2021 was $25.4 billion, representing 29% year-on-year growth. Active merchant accounts also grew by 13% to reach 426 million.
Cryptocurrency Adoption Boosts Wallet Numbers
Among the 1,500 largest online retailers in North America and Europe digital wallet Considering its acceptance, PayPal is clearly ahead. The company last year crypto- and other services, and first-time crypto users increased by 40%.
On the other hand, the company’s investment in Blockchain Capital’s $300 million fund with Visa and others shows that the financial system will change more in 5 years than in the last 20 years, as the CEO of the company said. This is a clear indication that the company is focused on the future.