Why 2017 Was a Year to Remember for PayPal Holdings Inc.

Shares of PayPal Holdings Inc. (NASDAQ: PYPL) have skyrocketed this year and are now up an amazing 84% year to date, crushing the S&P 500's 18.6% return by comparison. The company has enjoyed quite a year, announcing partnership after partnership with credit card companies, banks, and big tech companies that make it easier and more convenient for account holders to use the platform. PayPal also sold its U.S. consumer credit portfolio to Synchrony Financial for almost $7 billion in a move that had been in the works for over a year in order to free up cash flow to pursue higher-margin opportunities. It also acquired Swift Financial and TIO Networks to increase its offerings and make it a more holistic payment platform.

There were a number of actions taken by the company that contributed to its huge success in 2017, but some stand out as particularly important. What I believe to be the most significant factors to PayPal's big year include its growing network effect, the long-awaited rollout of Pay with Venmo, and its capitalization on the growth of mobile commerce. Let's take a closer look at how these factors led the company to such an amazing year.

PayPal Holdings had a year to remember in 2017 as its stock price rose an incredible 84%. Image source: PayPal Holdings Inc.

Source: Fool.com