In 2023, PayPal’s total payment volume worldwide rose to a record $1.53 trillion, driven by more than 200 million global users. This figure marks an impressive sixfold increase from 2014. 

What about PayPal’s transaction volume in the United States, home to the highest number of PayPal users? In this article, we’ll take a close look at the total PayPal payment volume in the US in recent years, and a forecast of its future performance.

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Total PayPal payment volume in the US: 2023–2027


Total US PayPal transaction volume

Annual increase


$0.98 trillion



$1.10 trillion



$1.24 trillion



$1.38 trillion



$1.52 trillion


Looking closely at PayPal's transaction volume in the US, significant growth is expected. A recent report on PayPal’s payment volumes in the US shows this figure is forecast to hit $1.1 trillion in 2024. Not only does this mark a 12.6% increase from the $978 billion recorded in 2023 (the largest annual rise expected in the forecast period of 2023 to 2027), it is also the first time US PayPal payment volumes are set to exceed the trillion-dollar milestone.

This is set to continue rising. In 2025, an annual growth rate of 12.5% is anticipated, which will take PayPal’s transaction volume to $1.2 trillion. The following years will see a slight deceleration. According to analysts’ projections, PayPal’s payment volume will rise by 11.2% in 2026, to $1.4 trillion. In 2027, a 10.6% annual increase is expected, pushing payment volumes past the $1.5 trillion mark. 

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Factors driving PayPal’s rising payment volume

Several factors contribute to PayPal’s rising payment volumes. According to industry experts, the growing transaction volumes can be attributed to the company’s rising investments in AI, which it hopes to use to provide merchants and users with a more seamless experience. 

Recently, the company announced it would be introducing several new AI-driven enhancements to the US market in 2024. These innovations include a one-click guest checkout solution designed to streamline the buying process, smart receipts that will leverage AI to offer personalized purchase recommendations, and an enrichment of the Venmo app with new profile features for business users. With these, PayPal is aiming to boost user experience and merchant sales efficiency.

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