In its third quarter of 2018, PayPal welcomed 9.1 million new users. The new users bring the total of users to 254 million, which is a new high. In total, the total payment volume increased 25 percent, up to 143 billion dollars. The total revenue growth was 14%, to $3.68 billion with a 27% increase if payment transactions (2.5 billion). PayPal concluded that per active account, 36.5 payments were made on a trailing twelve months basis. This is an increase of 9.5%
PayPal and American Express announced a partnership as well. The agreement will allow PayPal to access American Express tokens and enables a deep integration of PayPal capabilities with the American Express platform, including the ability to transfer and use American Express rewards points at PayPal merchants. PayPal also partnered with Walmart in October 2018 to offer PayPal cash in and cash out money services at Walmart retail stores. Using the PayPal mobile app, customers can load cash into and withdraw money from their PayPal balance at all Walmart stores in the U.S. According to Dan Schulman, President, and CEO of PayPal, "the company had another excellent quarter. New partnerships with American Express and Walmart will increase the value that we can offer to our customers."
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