Update on PayPal Earnings Amid the Shift to “Digital Economy” Now
PAYPAL EARNINGS – The earnings of the American company operating online payments, PayPal, skyrocketed amid the “digital economy” now.
The COVID-19 pandemic has undeniably greatly changed the world. A lot of people nowadays are hesitant to go outdoors if not for very essential purposes like buying food, medicine, and other essentials. Community quarantine measures are also still up in several countries.
There are over 200 territories and nations across the globe that confirmed cases of COVID-19. The authorities continue to urge the people to not let their guards down as the threats of the virus is still present.
Unfortunately, the detection of new variants made the battle even tougher. The World Health Organization (WHO) has previously warned that the pandemic may be a long-term fight. Financial crisis is taking place in some countries.
The lifestyle of the people is greatly affected by the pandemic. Nowadays, a lot of people prefer doing things online than giving a chance to the possibility of exposure.
While some businesses shut down amid the COVID-19 pandemic, there are those whose income soared amid the crisis due to the changes in the lifestyle of people. One of these is PayPal, an American company that processes online payments through their system.
Based on a report on ABS-CBN News, the PayPal earnings skyrocketed amid the COVID-19 pandemic. The company credited it to the world embracing the “digital economy” now.
The PayPal earnings reached $1.1 billion in the first quarter of 2021. Based on the report, in the same period in 2020, the online payment processing-company earned $84 million.
In the quarter, PayPal handled around 4.4 billion payment with a total value of $285 billion. With regards to the company’s after-market trades, the company’s shares increased by 4%.
Last month, Venmo which is owned by PayPal started operating mobile payments. It allows users in the United States to buy, hold or sell cryptocurrencies using the app.
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