PayPal, the world’s largest online payment platform, recently announced the financial results of its Australian branch.
PayPal Australia had a pre-tax profit of $13.6 million Australian dollar in 2018 and a after-tax profit of $9.5 million Australian dollar, according to the latest financial report.
The company’s profit growth was more than 1400% compared with the total revenue of the A$666,685 in 2017.
PayPal Australia’s “payment service” in 2018 brought the company a total transaction amount of 594 million Australian dollars.
According to its financial report, the company will mainly provide a ” secure online payment network”business in Australia in 2018.
PayPal Australia collects transaction fees as revenue by providing payment services to customers. PayPal explained that it would receive a fee for each transaction completed.
The company’s total cost of providing trading services amounted to $534 million Australian dollars in its total revenue of 594 million Australian dollars.
The direct parent company of PayPal in Australia is Singapore’s PayPal Pte Ltd, and its ultimate parent company is PayPal Holdings Inc in North America.
Worldwide, PayPal’s revenue totaled $15.45 billion in 2018. The company added 13.8 million users in the fourth quarter. By the end of 2018, the company had 267 million active users worldwide.
Dan Schulman, President and CEO of PayPal, said:“We set new standards for the company in 2018 in terms of revenue, net new active accounts and platform engagement. We have launched new products, strengthened existing business relationships and established new strategic partnerships with some of the world’s largest and most influential technology, retail and financial brands. ”