Over the weekend Paypal, the biggest online payment website in the Universe, offered a glimpse of what it thinks are just “facts,” Through a fact sheet released on its website, the company informed us once again that it’s is doing well and probably is handling the highest amount of money of anyone online.
Q2 2011 Stats
Some would say these are just words thrown into the autumn, but according to the eBay unit’s fact sheet, revenues exceeded $1 billion in the second quarter of 2011, which represents 31 percent growth.
The big number that intrigues me is the total amount of money moved via PayPal transactions (total payment volume): during the quarter, this came to a staggering $28.7 billion, 34 percent more than the previous year. Ebay had $9.9 billions from this total payment volume, meaning that 34 percent of PayPal’s transactions were made from the online auction site.
With these numbers, it’s easy to figure out exactly how much money PayPal processes each second. Rounded, it’s $3,650. So Read that again: Each second, PayPal processes $3,650.
In a world full of economic problems, PayPal’s report makes it clear the business is doing better than any number of banks that are close to failing. With revenues and transactions rising each year by at least 20 percent, PayPal is a lot more profitable than a lot of businesses. Too bad it closes a lot of accounts without a real reason.