Checkout button → two-sided payments network: 439M accounts moved $1.79T in 2025. But the high-margin branded PayPal button grew just 2% in Q2 2026 while lower-margin Braintree processing and Venmo grew mid-teens, so on every $100 it moves PayPal charges about $1.61 and pays about $0.90 to banks and card networks. In 2026 the board replaced its CEO, and Enrique Lores is betting on credit, Venmo and at least $1.5B of cost cuts.
Click any of the 9 blocks below for a plain-language story of how that part of the model works for PayPal — and how it connects to the others.
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