PayPal originally took off as it was convenient and fast, saving you from filling in card details each time and it also allowed sending payments for private transactions using only an email address
Since then Apple Pay/Google pay/browser wallets have taken a big chunk of its fast checkout advantage
And mobile banking apps/instant transfer have taken out chunks of the private transactions, and more so as consumer to consumer transactions often had the parties using PayPal gift mode to avoid fees but that then had zero protection.
The 2020’s is much more crowded than 1990’s and 2020’s decades
Also it was its partnership with eBay that made it dominant and eBay no longer promote PayPal as preferred payment method.
PayPal also allowed internet payments without requiring handing over credit card details to a third party. Handing your credit card number to every two-but e-commerce site pretty much guaranteed your card would be compromised. Today PCI requirements and tokenization reduce the risks substantially and Apple Pay and Google Pay add another layer of protection.
That estimates PayPal still has 40%+ online payment market share.
I'm assuming a lot of that is long-tail 'I put a PayPal link on my store in 2005' stuff, but I imagine those add up.
And they're also probably a sticky customer base, in the sense that anyone still using PayPal as primary today doesn't like changing things, which makes acquiring those customers worth it.
The other consistently supported thing is card numbers. I generate virtual card numbers for every merchant, no need for some suspicious interloper. For non-recurring or one-off transactions -- new virtual card for each purchase.
PayPal is, unfortunately, not dead. It's used by RMV in Germany for a start - only way to pay for a bus ticket in the app/website. No credit or debit card, straight up PayPal account.
Sometimes it's the other way around. Lockers for packages were first introduced in Germany (Packstation) then they were rolled out in the US almost a decade later.
Not having a lot of credit cards and the associated rewards is actually healthy. Research has shown lower social classes "pay" for the rewards due to paying the higher transaction fees. There was actually a relevant thread here a few days ago
https://news.ycombinator.com/item?id=49432201 (How credit card rewards became a $9.2B wealth transfer)
Yes it's basically every website in Australia you can pay via PayPal now. I use it less and less since Apple Pay is available pretty much everywhere, but it can still be handy now and then.
Can folks responding to this comment claiming that they see PayPal a lot provide some details? Country, industry, sector, something. I'm in the US and I basically never see it on e commerce checkout flows any more (and good riddance IMO).
Generally I would use it on smaller / unfamiliar websites; I may be more hesitant about entering my credit card numbers but also it's quicker and easier as I can do it without getting my card out of my bag.
I don't see it as much as before but recently I had issues with paying z.ai with my card and the only payment alternative they have is PayPal. PayPal now requires an account with a verified phone number just to process your payment, so it's strictly a no-go for me.
I am guessing the millions of people they have on-boarded in the last decades are what makes the business worth something.
Yeah this is my primary use case for using PayPal. I use it on e-commerce sites for first purchase or if it's unlikely I'm going to buy anything from the same site again.
In European online shopping it's very common for everything thats not ment for only one country.
Within Switzerland there is zero need for PayPal do you don't see it as much, but if you ship to Germany or Italy things start to get more complicated.
I honestly wish they could've succeeded because PayPal is one of the banes of my existence. They're one of those faceless corporations that accuse everyone of money laundering in order to steal their shit.
They held and stole quite a bit of money from my company when it was small 'for fraud'; it was a very hard time, and of course there was no fraud. It was a long time ago and I don't get angry anymore, but it was a nightmare and nothing you can do. Since then I moved to local processing, issuing, acquiring; I can thank Paypal for all of that. Hope they die a miserable death, but I guess 50B$ says at least the managers will drive their lambo's/yachts around no matter what happens unfortunately.
Paypal stole over $10k from a Haitian charity drive we did. They froze the account and all the donations, then refused to refund people and offered "Donate to our charity instead" as an option.
"Donate to a different charity" is in no way a viable alternative.
Charities are anything but interchangeable. You might not want to sponsor one on ideological grounds, or concerns about how effectively they use the money, or just because you were seeking to support a specific cause. If you deposited money in a box that said "we're buying medicine for sick people in Somaliland" and they sent it to the RSPCA instead, wouldn't you be pissed?
Suing over borders. Did I mention small company? What would it cost me, in 2007, to sue a US company from my country in europe? With what chance of winning?
I am not sure about the year 2007, but in 2026, they need to be under your monetary authority somehow. That's why most crypto exchanges do not offer service in Europe. Your monetary authority might have a form or an email for complaint and depending on how pro-active they are, they can make the other counter-party very proactive.
It would be small claims court and they are being sued so much, that they don't even bother to show up in trials (courts are expensive goes both ways), so it is default win usually.
Still not in my own country; I see they were in the UK back then; suing over borders inside the EU is still expensive and pretty much advised against unless it's a lot of money. It was for us, but not compared to this effort; anyway ; it was advised against back then. Maybe now it's easier.
Elon bought a dead social network and look at him go! But seriously, I log into paypal once a month to pay my landlord. I am a MAU. That is crazy. It’s more then I can say for ABNB. Maybe they should buy Paypal. Save on those transaction fees.
I wish Twitter had been dead when Elon bought it, but no, Twitter was far from dead. X actually has fewer MAU as far as I can tell[1], and I wouldn’t call it dead either.
[1]: Seriously though, I can’t find good data I trust on this so correct me if you’ve got a good source saying otherwise, or even if someone has something substantiating this better I would take that too.
The social network is more dead than when he bought it. Wouldn’t need the an acquisition first by an ai company and then a space company to hide its worth.
PayPal is still the default processor in so many places. That's got to be worth something. Every other time I buy something online, PayPal is the default option.
They’re just wildly successful terrible engineers who can describe problems well and have unlimited token budgets. If they were paying for their own token use, the software would be better, they simply don’t have financial incentive to be more performant.
A dirty secret of AI data centers are that they’re only getting 40-60% efficiency out of their GPU clusters and because the moneygun go brrrrr they just buy more.
You wonder why they’re so afraid of the Chinese competition… they can’t afford to be as wasteful
A lot of the "don't tread on me" is window dressing.
Peter Thiel and his ilk absolutely adore what China has done. You have an elite - in this case, the CCP - that is entitled to their position by law. It bills itself as the "best and brightest" of society and has ideological constraints that it gets to impose on its members through the cadre system. The rest of the population labors for the benefit of this elite with little-to-no input on the operation of the ruling class.
That's what Thiel wants, just with his kind in the positions of power. It'd eliminate any opposition to what they imagine as the "right" way of doing things and reduce the friction to the creation of economic value for their holdings.
Note that "friction" in this case means things like human rights, democracy, competition, workers rights, etc.
I’m considering moving my family to China to be proximate and to witness the next rise of a superpower. I was too young for the 80’s US computer boom, and in collage for the .com one. The Web 2.0 rise only produced a small handful of winners. China seems boundless.
