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This statistic highlights Sea Limited’s Total Payment Volume (TPV), reported on a quarterly basis from 2020 onwards.
The following table highlights Sea Limited’s Total Payment Volume for Q3 2020, Q2 2021, and Q3 2021.
|Category||Q3 2020||Q2 2021||Q3 2021|
|TPV – Total Payment Volume||2.1||4.1||4.6|
(All figures in Billions)
The company has witnessed rapid growth in the total payment volume. As per the latest data provided by the company, the company has a $4.6 billion payment volume in Q3 2021 with an increase of 119% on a yearly basis. There is also a growth of 12% compared to $4.1 billion earned in Q2 2021.
Total Payment Volume (TPV) is one of the metrics used by the company to evaluate the growth trends, make strategic business decisions, and measure the performance in the market. These metrics are calculated using internal data of the company which has not been validated by an independent third party. TPV is the number of payments that are positively completed through the payment platforms (mobile wallet) of the company. It excludes transactions that are processed through the gateway products.
The main reason for this drastic jump in the TPV is mainly the integration of mobile wallet services throughout 2020. The company continued to work on amalgamating the mobile wallet services of SeaMoney along with the Shopee platform in different markets mainly to promote the efficiency of SeaMoney’s growth and to diminish the payment friction for Shopee users. Furthermore, the company has been expanding the use of its mobile wallet services outside of its platforms to involve other online and offline dealers. These third-party dealers at the moment include companies of telecommunication industry, online and offline entertainment service providers including game operators and app stores, concert/event venues, movie theatres, utility service providers, credit card issuers, food delivery service providers, insurance companies, banks, and car leasing companies. As the number and type of merchants on the SeaMoney platform are increased by the company, it has been able to provide mobile payment solutions for a broader range of products and services to meet the everyday requirements of its users and to captivate more users to the platform.
About the Company
Sea Limited is a leading global consumer internet company located in Singapore. It was established by Forrest Li in 2009 and has the motive to improve the lives of consumers and small businesses by using technology. The company is listed on New York Stock Exchange (NYSE) under the ticker symbol “SE”.
The company operates three primary businesses covering digital entertainment, e-commerce, and digital payments and financial services, which are known as Garena, Shopee, and SeaMoney. Garena is a major global online game developer and publisher with an international footprint in more than 130 markets. SeaMoney is a leading financial service and digital payment service provider in Southeast Asia which was established in 2014 and provides services like payment processing, credit, mobile wallet services, and related digital financial services and products. Shopee is the biggest pan-regional e-commerce platform in Taiwan and Southeast Asia that was launched in 2015 and provides its consumers with an easy, secure, and enjoyable online shopping experience. Sea Limited is one of the fastest-growing video gaming companies that also own an e-commerce business and an emerging fintech establishment.
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