Paypal Holdings Inc (NASDAQ:PYPL) is moving away from becoming processing merchant or partners to platform provider. Paypal Holdings Inc (NASDAQ:PYPL) has been aggressively partnering with industry leaders over the past 18 months and these include Apple Inc (NASDAQ:AAPL), Alphabet, Microsoft, Samsung, JPMorgan Chase, Bank of America, and Wells Fargo. Including integration with Gmail and Android pay, effectively positioning itself as a major platform. Paypal Holdings Inc (NASDAQ:PYPL) has been placing itself in a dominating position in growing Mobile payment industry and has seen an increase of 51% year on year in its mobile transaction accounting to nearly one third of its overall transactions.
Paypal Holdings Inc (NASDAQ:PYPL) crossed symbolic milestone of processing $100 billion in total payment volume in a quarter. PayPal recent partnership with Apple Inc (NASDAQ:AAPL) and Microsoft has been very significant considering service segment has been Apple Inc (NASDAQ:AAPL) second largest driver of revenue and growth behind iPhone sales and has seen year on year growth of over 18%. Partnering with Paypal Holdings Inc (NASDAQ:PYPL) was also an important strategic move by Apple considering PayPal saw whooping $32 billion in mobile transactions.
Paypal Holdings Inc (NASDAQ:PYPL) has also been increasing its investments in new startups and technologies. PayPal is currently working its long term growth and strategy while sacrificing short term gains through margins on transactions. Paypal Holdings Inc (NASDAQ:PYPL) has constantly been surpassing analyst expectations and saw a revenue growth of over 18% and earning per share of 27%. PayPal is also growing in social payments through its Venmo social payments platform. In a move to enter wallet payment PayPal has also partnered with Alphabet Inc.’s Google for its Android Pay and has tied up with global players like Visa Inc., MasterCard Incorporated, and Discover Financial Services which has helped the company to boost payment volume by 23% and revenue by 17%.