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One of the first and most significant players in the digital payments landscape and the fifth most accepted payment option after all the major credit cards, PayPal, has had a solid year so far. The nine-month revenue of the online payments service has grown by $1.6 billion year-over-year (YoY), and the total payment volume is up by 12% YoY. But PayPal's user count has dropped.

According to data presented by AltIndex.com, PayPal lost seven million active users in the first nine months of the year, showing the biggest decrease in the platform's history.

User count dropped for three quarters in a row.

According to Statista and the official company data, at the end of 2019, PayPal had around 305 million active users. But after COVID-19, which triggered a surge in digital payments in general, PayPal's user count jumped by 40% and hit 426 million. The positive trend continued throughout 2022, with the service reaching its all-time high of 435 million users in Q4 2022. But things changed this year, with more and more people deactivating their PayPal accounts.