PayPal is an international debit electronic payment system that allows everyone to make purchases and money transfers online. Founded in 1998, PayPal now operates in over 200 countries, supports 20+ major currencies, and serves over 360 million customers. Its headquarters is located in California. Furthermore, PayPal is actively developing and receiving licenses to conduct official activities in different countries.
The Majority of Respondents Are Familiar With PayPal
Notably, late last year, PayPal launched a feature for customers to buy, sell, and store cryptocurrency. In line with this, in March 2021, PayPal significantly expanded the payment options of crypto assets. PayPal payment service brought the functionality of paying for purchases with digital assets. This covers converting crypto to fiat currency without any additional fees and commissions.
Real Research conducted a survey to know the public opinion on the PayPal payment experience. Almost 80% of the respondents are aware of PayPal. Do people use PayPal? Furthermore, are they satisfied with this service? When do customers mostly use PayPal’s services? Have they tried the PayPal crypto payments service? Let us find out through results obtained from the Real Research online survey application.
- The majority (60.49%) of the respondents have used PayPal.
- Almost 25% use PayPal services to send funds.
- Customers are highly satisfied with PayPal’s crypto service (37.07%).
- Respondents wish PayPal payments to be accepted worldwide (46.29%).
PayPal’s Popularity Worldwide
To start with, almost 80% of the respondents are aware of the PayPal service. Next, the Real Research survey asked respondents if they used PayPal. The majority, 60.49% replied ‘Yes’. Respectively, 39.51% replied ‘No.’
It is worth noting that the PayPal service is quite popular all over the world. Its client base exceeds 360 million people, which PayPal itself proudly states on its website. In comparison, the platform had around 160 million active registered users in 2015. These numbers show that the client base of the service is growing steadily.
Respondents Use PayPal To Send Funds
The next question we asked through the Real Research survey application is when respondents mostly use PayPal’s service. Nearly 25% of the participants use the PayPal payment service to send funds. In line with this, the results on the Real Research online survey application show that almost 22% use the PayPal payment service to receive funds. After that, 16.08% use PayPal to pay for services, and 11.55% to provide PayPal as a payment option on online stores.
Furthermore, 3.18% and 5.49% chose ‘Other’ and ‘For crypto transactions’ options respectively. On the other hand, 17.03% of the respondents never use Paypal. This shows that in some places PayPal is either unavailable or not very popular, or customers simply prefer other payment services to PayPal.
PayPal Updates Its Services Based on New Advancements
When PayPal announced the availability of cryptocurrency transactions in the digital wallet, the founder of Galaxy Digital, Michael Novogratz, called this event the biggest news of the year in crypto. Accordingly, we asked respondents if they have used PayPal’s crypto payment service. Drawing from the Real Research online survey application results, nearly 49% said ‘Yes.’
It should be noted that at the end of last year we already conducted a survey about payment gateways user needs. And over 70% of respondents at that time declared they would like to use crypto payments in existing apps. Thus, the use of cryptocurrency not only remained as a trend but also gained momentum.
The Majority Is Very Happy With PayPal’s Crypto Service
To continue, we asked respondents about their satisfaction with PayPal’s crypto payment service. 37.07% of the participants are highly satisfied. This could possibly mean that people actively complete payments with digital assets. Following that, 24.39% are somewhat satisfied. In contrast, 7.85% and 3.15% are somewhat unsatisfied and highly unsatisfied respectively. In addition, almost 28% of the respondents have not used this option.
Respondents Wish PayPal To Be Accepted by All Online Services Worldwide
Lastly, we asked our respondents how can PayPal improve its services. The majority (46.29%) wishes all online services to accept PayPal payments worldwide. Meanwhile, almost 25% of the respondents want PayPal to include all digital assets as an option for payment. Accordingly, 8.10% wish crypto options on PayPal to be open globally.
Furthermore, 11.09% chose the ‘Others’ option, while 7.57% believe that PayPal is already doing very well.
In conclusion, it becomes clear that most PayPal account holders are happy with the payment system. Moreover, PayPal is constantly improving its level of service. According to many experts, the site becomes more convenient over time, the options expand, as does the zone of influence. As a result, the number of customers increases, and most of them recommend the system to others.
|Survey Title||Customer Satisfaction With PayPal Payment System|
|Duration||June 27 – July 4, 2021|
|Number of Participants||108,734|
|Demographics||Males and females, aged 21 to 99|
|Participating Countries||Afghanistan, Algeria, Argentina, Armenia, Australia, Azerbaijan, Bahrain, Bangladesh, Belarus, Benin, Bolivia, Bosni,…Brazil, Bulgaria, Burkina Faso, Cambodia, Cameroon, Canada, Chile, China, China (Hong-kong), Colombia, Costa Rica, Democratic Republic of Congo, Ecuador, Egypt, El Salvador, Estonia, Ethiopia, France, Georgia, Germany, Ghana, Greece, Guatemala, India, Indonesia, Iraq, Israel, Italy, Japan, Jordan, Kenya, Kuwait, Kyrgyzstan, Latvia, Libya, Lithuania, Macedonia, Madagascar, Malaysia, Maldives, Mauritania, Mexico, Moldova, Mongolia, Morocco, Mozambique, Myanmar [Burma], Namibia Nepal, Nicaragua, Nigeria, Norway, Oman, Pakistan, Palestine, Panama, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Rwanda, Saudi Arabia, Senegal, Singapore, Slovakia, Somalia, South Africa, South Korea, Spain, Sri Lanka, Swaziland, Tajikistan, Tanzania, Thailand, Togo, Tunisia, Turkey, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Venezuela, Vietnam, Yemen, Zimbabwe.