ARK Fintech Innovation ETF and the
ARK Next Generation Internet ETF. The digital payment company s share price soared in 2020 after the coronavirus pandemic forced people to rapidly transition from an in-person to an online way of life. Although the stock fell almost 30% from its all-time high during the February tech sell-off, it now seems to be on a path of recovery.
The digital payments market was estimated to be worth $58.3 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 19.4% from 2021 to 2028. Considering the huge opportunity unfolding, PayPal s offerings in areas such as peer-to-peer payments, cashless payments for online and offline purchases, and credit have been in huge demand. In fact, the company recorded 72.7 million new accounts and reached a total of 377 million in 2020, and total payment volume (TPV) jumped by 31% year over year to $936 billion. PayPal aims to increase active accounts to 750 million and TPV to $2.8 trillion by 202