PayPal saw healthy volume growth in the third quarter ended September 30, 2018. It’s too early to see any impact eBay’s managed payments may have on its business, as eBay only began rolling out its early launch to a small number of sellers on September 24, 2018. Note that PayPal won’t be included in eBay managed payments until the summer of 2019.
PayPal said its eBay Marketplaces volume grew 3% on an FX-neutral basis, and represented 11% of overall TPV for the quarter versus approximately 13% a year ago.
PayPal processed $143 billion in total payment volume (TPV) in the third quarter, representing growth of 24%, or 25% on an FX-neutral basis.
Mobile payment volume in the third quarter was $57 billion, up 45%, representing 40% of overall TPV
Merchant Services TPV grew 28% on an FX-neutral basis.
Person-to-Person (P2P) volume grew 50% to more than $36 billion, and represented approximately 25% of TPV in the third quarter.
PayPal ended the quarter with 254 million active accounts, up 15%, and it processed 2.5 billion payment transactions, up 27%.
Venmo, the company’s social payments platform, processed approximately $17 billion of TPV in the third quarter, growing 78%. On a trailing twelve month basis, Venmo processed approximately $54 billion of TPV.
PayPal revenue grew 14% to $3.68 billion on both a spot and foreign currency-neutral (FX-neutral or FXN) basis. (The completion of the sale of the U.S. consumer credit receivables portfolio to Synchrony in July 2018 negatively affected revenue growth by approximately seven percentage points.)
See the full results for Q3-2018 in the PayPal press release.