PayPal processed $10.3B in donations in 2019

 PayPal Holdings Inc. said it has processed a record $10.3 billion in donations globally during 2019, with 21% of the funds coming through mobile devices.

“Our efforts to drive social impact and create value for all our stakeholders continues to expand,” Franz Paasche, senior vice president, corporate affairs at PayPal, said in a company release. “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 in communities around the world.”

Earlier this week, New York State Attorney General Letitia James announced a settlement with PayPal Charitable Giving Fund Inc., to ensure that donors received adequate information about funds raised online through the service. 

“Every individual who chooses to donate funds deserves transparency and honesty throughout the process,” James said in a release from her office.

Topics: Mobile Apps, Mobile Payments, Regulatory Issues

Companies: PayPal

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