I stopped using PayPal because my account got hacked twice. The hackers were able to get more information than just by logging into my account (e.g. entire bank account number). Luckily their consumer protection is pretty good, but I just don’t trust them.
Since then I turned on two factor authentication, and even that doesn’t work like it should. I have it set up to text me, but then I can’t use it abroad or in certain areas where cell phone reception is poor. Their alternative (using a Symantec app) is confusing and I’ve never been able to get it to work. I wish they would just use Google’s authenticator app which is very simple to set up and use.
They also have a ton of competition. I’d rather use Apple Pay (don’t have to provide credit card numbers to merchants) or Pay with Amazon (I use Amazon so much that it’s worth storing my credit cards there). Occasionally when I sell something on eBay or get payments from various sites it still goes through PayPal, and I’ll sometimes do person to person payments, but overall I don’t think much revenue goes to PayPal for those transactions.
PayPal feels like they should be much more of a success given how early they got started. They just haven’t grown along with the general eCommerce market.
Also, I hate how they push their debit card ads when you log in all the time.