---
title: "PayPal: Business Model & Revenue Engine"
description: "PayPal revenue by product line and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/paypal/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# PayPal: Business Model & Revenue Engine

## Direct Answer

PayPal reports revenue across 2 product and service lines in its fiscal 2025 Form 10-K. Transaction Revenue is the largest, with $29.8 billion of revenue (90% of the total), followed by Revenues From Other Value Added Services at $3.4 billion (10%). 57% of revenue came from the United States.

## How Does PayPal Make Money?

Transaction Revenue supplies 90% of revenue, so PayPal's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Revenues From Other Value Added Services grew fastest (+14.2%) and Transaction Revenue slowest (+3.3%), so the revenue mix tilts toward Revenues From Other Value Added Services while that gap lasts.

| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Transaction Revenue | $29.8 billion | $28.8 billion | 89.8% | 3.3% |
| Revenues From Other Value Added Services | $3.4 billion | $3.0 billion | 10.2% | 14.2% |

![Bar chart of PayPal revenue by product line for fiscal 2025: Transaction Revenue 89.8%, Revenues From Other Value Added Services 10.2%.](https://www.getswoopr.com/images/charts/paypal-business-model-segment-mix.webp)
*PayPal revenue by product line as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Where Does PayPal's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United States | $18.9 billion | $18.3 billion | 56.9% | 3.3% |
| Outside the United States | $14.3 billion | $13.5 billion | 43.1% | 5.7% |

## What the Segment Figures Do Not Show

The rows above add up to 100% of PayPal's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value PayPal reported in the segment note and revenue disclosures of its Form 10-K filed February 3, 2026 (accession 0001633917-26-000024), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are PayPal's main products and services?

In its fiscal 2025 Form 10-K, PayPal reports revenue for Transaction Revenue and Revenues From Other Value Added Services.

### Which part of PayPal brings in the most revenue?

Transaction Revenue, with $29.8 billion of revenue in fiscal 2025, or 90% of the total.

### How much of PayPal's revenue comes from outside the United States?

43% in fiscal 2025, by the geographic breakdown PayPal reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: PayPal Holdings, Inc. Form 10-K filed February 3, 2026](https://www.sec.gov/Archives/edgar/data/1633917/000163391726000024/pypl-20251231.htm)
- [SEC EDGAR: PayPal Holdings, Inc. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1633917&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [PayPal company dossier](https://www.getswoopr.com/stocks/companies/paypal/)
- [PayPal financial metrics](https://www.getswoopr.com/stocks/companies/paypal/metrics/)
- [PayPal financial risk indicators](https://www.getswoopr.com/stocks/companies/paypal/risks/)
- [PayPal peer comparison](https://www.getswoopr.com/stocks/companies/paypal/competitors/)
- [PayPal business model and revenue mix](https://www.getswoopr.com/stocks/companies/paypal/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).