Adyen vs PayPal
Business model, scale, and a side-by-side Litmus framework score — which model wins, and for whom.
Adyen wins as a unified enterprise acquirer; PayPal wins on consumer wallet brand and installed base.
At a glance
| Metric | Adyen | PayPal |
|---|---|---|
| Revenue | €2.36B net revenue (FY2025) | ~$33B (Q1'26 annualized run-rate; $8.35B in Q1 2026) |
| Profit | EBITDA margin 53% (FY2025) | GAAP EPS $1.21 in Q1 2026 |
| Active users | Billions of transactions | 439M active accounts (225M monthly active) |
| Employees | ~4,500 | ~24,400 |
| Founded | 2006 | 1998 |
| HQ | Amsterdam, Netherlands | San Jose, USA |
LLitmus Framework Score
Overall: Adyen 91 · PayPal 83
Customer Segment
92
90
Value Proposition
94
82
Marketing Channel
85
78
Engagement
95
75
Income Source
90
85
Asset Validation
93
88
Core Operations
91
80
Strategic Alliance
88
82
Expense Validation
92
83
Adyen leads 9 modules, PayPal leads 0. Overall edge: Adyen.
Head to head
| Dimension | Adyen | PayPal |
|---|---|---|
| Core strength | Single unified acquiring stack | Consumer wallet + 400M+ accounts |
| Architecture | One self-built codebase | Stitched together from acquisitions |
| Customer focus | Large global enterprises | Consumers + broad merchant base |
| Margin profile | 53% EBITDA margin | Lower-margin, mature core |
FAQ
Is Adyen or PayPal a better business?
Adyen wins as a unified enterprise acquirer; PayPal wins on consumer wallet brand and installed base. It depends on what you optimise for — see the module-by-module breakdown above.
What is the difference between Adyen and PayPal's business model?
Adyen operates in Fintech (The payments platform built for growth), while PayPal is Fintech (The safer, easier way to pay). Their revenue, scale and Litmus scores are compared in detail above.
Which is more profitable, Adyen or PayPal?
Adyen: EBITDA margin 53% (FY2025). PayPal: GAAP EPS $1.21 in Q1 2026.