More than 20% of Merchants in Top Markets Offer PayPal Payments, 3x more than Apple Pay and Google Pay
March 16, 7:44 am
Despite losing nine million users and almost $20 billion in stock value last year, PayPal still turned 2023 into a record year. PayPal's payment volume skyrocketed to $1.52 trillion last year, the highest figure in the company's history, partially due to its massive popularity among merchants worldwide.
According to data presented by AltIndex.com, PayPal is the number-one payment solution among merchants, with an average 20% market share in top markets.
PayPal is 3x more Popular Payment Option than Apple Pay or Google Pay
As one of the fintech pioneers and the fifth most accepted payment option after all the major credit cards, PayPal has given consumers an alternative way to manage international payments for the past 25 years. However, millions of businesses also choose PayPal to power their online payments abroad, especially in the ecommerce industry.
According to the BuiltWith survey, the number of websites offering PayPal as a payment method is much higher than those offering Apple Pay and Google Pay transactions, which confirms PayPal is the most preferred payment option across top markets.
For example, more than 22% of merchants in the United Kingdom accept PayPal payments, far more than any other option. German merchants prefer the US payment provider even more, with 28% choosing the service to manage their payments. Canada and India have around 24% of merchants offering PayPal transactions, much more than other payment options, including Apple Pay, Google Pay, Stripe, Venmo, and Amazon Payments.
In fact, statistics show PayPal is three times more popular than Apple Pay or Google Pay in all these markets. In the United Kingdom, Germany, and Canada, Apple Pay has 8.5%, 6.1%, and 11.9% shares among merchants, respectively. Google Pay is even below these figures, with its share floating between 5% and 9% in the three markets.
Interestingly, PayPal is the least popular payment method among merchants in its domicile market. Last month, only 9.2% offered PayPal payments on their websites, roughly 1.5% less than Apple Pay and Google Pay.
Amazon Payments and Venmo are the Least Popular Payment Options Among Merchants
Unlike PayPal, which continues to dominate digital payments, Amazon Payments and Venmo still struggle to increase their market share in the e-commerce landscape.
Statistics show the two services were the least popular payment options among vendors in the top markets. In the United States, for example, only 5% of merchants offered Venmo payments on their websites. In the European markets, Canada, and India, this share was less than 1%.
Amazon Payments were even less accepted. Last month, Germany had the highest share of merchants accepting Amazon payments, only 2%. In all other op markets, this figure was below 1%.
Get More Insights
Sign up and get access to a personalized dashboard, deeper insights, AI stock picks, stock alerts, weekly newsletter and much more.
