PayPal use in South Korea 2024 | Statista (2024)

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PayPal use in South Korea 2024 | Statista? ›

Seven percent of the respondents from South Korea indicated they had used PayPal in a POS setting between July 2023 and June 2024 - with an additional one out of 10 saying they used PayPal during this same time for online payments.

2024: 236.7 Million Users – Continuing Growth

Forecasts for 2024 predicted a 6% increase, bringing PayPal's user base to 236.7 million. This consistent growth highlighted the platform's resilience and adaptability in the ever-changing digital payment landscape.

The World Population Review tabulated that the United States has the most PayPal users with 278.10 million or 38.87%.

To change the currency, please use the designated currency selector in the footer. If you prefer to pay in INR or KRW, you also have the option to complete your purchase using a credit card directly.

The country-by-country number of merchants who accept PayPal for online payments was the highest in the United States in 2022. Relatively speaking, however, German websites accepted PayPal more often than websites from other countries.

PayPal's revenue in 2024 is $31,028,000,000. On average, 9 Wall Street analysts forecast PYPL's revenue for 2024 to be $32,653,289,723,751, with the lowest PYPL revenue forecast at $32,512,808,847,552, and the highest PYPL revenue forecast at $32,819,968,915,479.

While the PayPal transfer limit for normal users is $4,000, verified users can send or accept a maximum of $10,000 in a single payment. Additionally, users with a linked bank account can send a maximum of $25,000 per transaction.

Seven percent of the respondents from South Korea indicated they had used PayPal in a POS setting between July 2023 and June 2024 - with an additional one out of 10 saying they used PayPal during this same time for online payments.

These are Afghanistan, Bangladesh, Cameroon, Central African Republic, Cote D'Ivoire (Ivory Coast), Paraguay, Saint Lucia, South Sudan, Sudan, Syria, Democratic People's Republic of Korea (North Korea), Equatorial Guinea, Gabon, Ghana, Haiti, Iran, Iraq, Lebanon, Liberia, Libya, Monaco, Moldova, Montenegro, Myanmar, ...

PayPal has a lot of competitors in the payment platform/management space. Some of the most popular options include Skrill, Square, Stripe, Venmo and Payoneer. But as far as estimated market share in that space goes, Stripe is currently PayPal's biggest competitor with 37.23% market share as of 2024.

Is PayPal allowed in South Korea? ›

I understand that you want to know if Paypal is available on South Korea. Paypal Integration is also available in South Korea, however, upon checking the currency is not available.

When it comes to eCommerce transactions, most South Koreans prefer to pay via credit card. Credit cards are used for 72% of all Internet transactions in South Korea. In 2022, the value of credit card transactions in South Korea reached 988 trillion South Korean won, an increase from 886 trillion in 2021.

You can send money abroad to another PayPal account just like you would domestically: Enter your recipient's name, PayPal handle, email, or mobile phone. Enter the amount, choose the currency, and add a note if you'd like. Choose your payment type and payment method.

PayPal is available in over 200 countries worldwide, including the United States, United Kingdom, Canada, Australia, and most of Europe. Some countries where PayPal is not available include Afghanistan, Bangladesh, Iraq, Iran, and North Korea.

Send money domestically or internationally with the PayPal app: Go to Send. Enter your recipient's name, PayPal username, email, or mobile number. Enter the amount, choose the currency, and add a note if you'd like.

#1) Google Pay

Google Pay is a secure mobile payments app and digital wallet developed by Google. The payment solution powers online, in-app, and contactless purchases on a mobile device. This allows users to make payments with tablets, Android phones, and even watches.

426 million accounts currently use PayPal, a quarter-on-quarter decline of 0.5%. Consumer accounts increased at a compound annual growth rate of 9.71%, representing 91.8% of all active accounts over the past 5 years. PayPal is used more frequently for online payment in Germany and Brazil than in the United States.

426 million people use PayPal worldwide.

The number of active PayPal users declined in the fourth quarter of 2023 as well. The number reached 426 million in Q4 2023 from 428 million in the 3rd quarter of 2023.

According to the data, PayPal leads the pack among mobile payment apps, with 37% of Americans saying they've used the service in the past month. This is followed by Zelle (17%), Venmo (15%), Apple Pay (14%), and Google Wallet (10%).