PayPal (USA)

17 July 2024

🧠 Business Model (Expanded) PayPal is one of the original internet-era fintechs, now evolving into a super-app for payments and merchant services. • Core: Transaction fees on P2P & merchant payments • Subsidiaries: Venmo, Braintree, Xoom, Honey • Services: Pay Later, crypto, rewards, checkout SDKs

💰 Financials (FY23) • Revenue: $29B • Net Income: $4.2B • Total Payment Volume: $1.5T • Active Accounts: 430M

🧩 Strategy (Expanded) • Diversifying revenue beyond core checkout • Buy-now-pay-later push with PayPal Credit • Heavy competition from Stripe, Apple Pay, Shopify

⚠️ Risks • Declining market share in key geographies • Overlap with emerging neobanks • Limited success in merchant lending

🧠 Founder POV PayPal was once a fintech rebel. Now it risks becoming the bank it disrupted.

⚖️ Takeaway Innovate like a startup — even if you're public.

📎 Disclaimer: Not investment advice.