PayPal Processed Record $10 Billion in Charitable Donations in 2019
Over $1 billion processed during holiday season and over $100 million processed on GivingTuesday
SAN JOSE, Calif., Jan. 16, 2020 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) today announced that it processed a record $10.3 billion in donations to charities around the world in 2019, and more than $1 billion in the month of December alone, as mobile and other digital channels continue to change how donors engage with nonprofit organizations. Twenty-one percent of all donations processed by PayPal in 2019 were made through mobile devices.
"Our efforts to drive social impact and create value for all of our stakeholders continue to expand. We are continually inspired by the generosity of the expanding PayPal community, which continues to reach new heights," said Franz Paasche, SVP, Corporate Affairs, PayPal. "As we enter 2020, we remain committed to harnessing the power of our technology and scale to provide new ways for people to give to the causes they care about – and to help charitable organizations raise mission-critical funds that make a difference for communities around the world."
PayPal is one of the largest digital donation platforms in the world, supporting more than 600,000 nonprofits with fundraising and powering giving for platforms including Facebook, GoFundMe, Airbnb, and eBay.
"We're proud to partner with PayPal, whose generous support enabled us to raise funds over the holidays and year-round to help provide comfort and hope to people impacted by disasters and countless other crises. We're thrilled to celebrate this PayPal milestone with their team," said Gail McGovern, President and CEO, American Red Cross.
Every year, PayPal mobilizes its community of 300 million consumers and merchants to donate to disaster relief efforts and participate in campaigns with signature partners like GivingTuesday, which organizes an international day of charitable giving each December. On GivingTuesday 2019, PayPal processed $106 million for causes around the world.
"PayPal has been a believer in GivingTuesday since its launch in 2012 and is one of our most creative and innovative partners, both in the US and around the world. We are grateful to PayPal for their commitment to this movement and to growing generosity around the world," said Asha Curran, Founder and CEO, GivingTuesday.
PayPal is currently mobilizing the PayPal community of customers, employees, and partners to support relief efforts for the bushfires in Australia. To learn more and donate, visit paypal.com/bushfires.
About PayPal
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering 300 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.
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SOURCE PayPal Holdings, Inc.
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