PayPay invested $1.6 billion in research and development in 2021, in part to strengthen its technology and cybersecurity.
For comparison: The company spent $1.1 billion on research and development in 2019 and $1.4 billion in 2020.
PayPal’s payments platform uses a combination of proprietary and third-party technologies and services to facilitate transactions efficiently and securely among millions of merchants and consumers around the world through different channels, markets and networks.
Its payments platform connects with financial service providers around the world and allows consumers to make purchases using a wide range of payment methods, regardless of where the merchant is located.
Thus, consumers who use its platform can send payments in more than 200 markets around the world and in more than 100 currencies, withdraw funds to their bank accounts in 56 currencies and maintain balances in their PayPal accounts in 25 currencies.
Technology
A transaction on your payment platform may involve multiple participants in addition to PayPal, including a merchant, a consumer, and the provider of the consumer’s funding source.
Globally, the company had active accounts of 426 million and 377 million at the end of 2021 and 2020, respectively, an increase of 13 percent.
Likewise, the number of payment transactions was 19.3 billion and 15.4 billion in 2021 and 2020, an increase of 25 percent.
The technological infrastructure that supports its payment platform simplifies the storage and processing of large amounts of data and facilitates the implementation and operation of large-scale global products and services both in its own data centers and when hosted by service providers in the third-party cloud.
Its technology infrastructure is designed around industry best practices aimed at reducing downtime and helping ensure the resilience of your payments platform in the event of outages or catastrophic events.
Its payment platform also incorporates multiple layers of protection for business continuity and system redundancy and to help mitigate cybersecurity risks.
Additionally, it has a comprehensive cybersecurity program designed to protect its technology infrastructure and payment platform against cybersecurity threats, including regularly testing its systems to identify and address potential vulnerabilities.
