PayPal up in first trading day, has big plans

San Jose, Calif. – PayPal Inc.’s first day of trading as an independent public company on the Nasdaq stock exchange was a good one. The digital payment platform closed at a price of $40.47 on Monday, July 20, up 5% from the opening price of $38.39.



In 2014, when it operated as a division of eBay Inc., PayPal processed $235 billion in total payment volume and generated more than $8 billion in revenues. The company serves more than 169 million active customer accounts in 203 markets around the world.



Also in 2014, PayPal processed $46 billion in mobile payment volume. Dan Schulman, president and CEO of PayPal, focused on mobile in comments he made in a prepared public statement.



"Mobile technology is transforming payments, making it easier, safer and more affordable for people to move and manage their money than ever before,” said Schulman. “As an independent company, we see a tremendous opportunity for PayPal to expand our role as a champion for consumers and partner to merchants, and to help shape the industry as money becomes digital at an increasingly rapid pace."



In addition, in an interview with the Associated Press Schulman said now that PayPal is an independent company, it can work with new partners who may have had a conflict with former parent company eBay.