PayPal continues to grow fast, especially as consumers increasingly use the web and their mobile devices to pay for what they buy. PayPal’s net revenue has been increasing steadily since 2010 - the payment provider usually sees a revenue jump associated with increasing usage during the holiday period with stable revenue growth during the following quarters. This comes at a time when mobile wallet services, payment services via a mobile device, are increasing. In December 2016, 99 percent of consumers in the United States were aware of PayPal, and 76 percent of consumers had used the service to make a purchase.
Especially in the advanced digital market of the United States, there are many digital wallets to chose from. PayPal regularly ranks as one of the most-used products, along with Apple Pay and Google Wallet. As users become aware of mobile shopping possibilities, more people will begin using mobile wallet and PayPal has set themselves up to take advantage of this market with annual mobile payment volume reaching 102 billion U.S. dollars in 2016. In the first quarter of 2017, the digital payment provider processed close to 1.7 billion digital and mobile payments.