PayPal (PayPal Stock Quote, Chart, News, Analysts, Financials NASDAQ:PYPL) did amazingly during year one of the pandemic, and while the opening up of economies will mean more shoppers entering bricks and mortar stores rather than pointing and clicking, the e-commerce trend is here to stay, which makes plays like PayPal a no-brainer going forward, according to Barry Schwartz of Baskin Wealth Management. \u201cA few years ago, my wife started paying for school lunches and stuff using PayPal, and it never really caught on to me, and I think it\u2019s because in Canada PayPal is not as big as it is in the US because here we use email check bank transfers,\u201d said Schwartz, chief investment officer at Baskin Wealth, who spoke on BNN Bloomberg last Thursday. \u201cBut in the US, PayPal and Venmo are huge. There\u2019s close to 400 million users of PayPal products and services,\u201d he said. Online payments company PayPal delivered its fourth quarter and full-year 2020 results back in early February, where it showed just how robust its business is. The company processed a record $936 billion in payments over the year, with its fourth quarter showing payments up a whopping 39 per cent from a year earlier. \u201cAt the beginning of the pandemic, consumers amid lockdown had no choice but to do all of their shopping online,\u201d said CEO Dan Schulman in the company\u2019s fourth quarter earnings call. \u201cToday, the vast majority of consumers state that post pandemic, they will continue to shop online at their current elevated levels because it is more convenient, easier and saves time.\u201d Revenue for 2020 grew by 22 per cent to $21.45 billion, while earnings came in at $5.39 billion on a non-GAAP basis, up 30 per cent, with EPS at $1.08 per share. Analysts had been expecting $1.00 per share. (All figures in US dollars.) \u201cIn this historic year, we released more products than ever before and have dramatically scaled our acceptance worldwide, giving our 377 million consumer and merchant accounts even more reasons to use our platform,\u201d said Schulman in the Q4 press release. PayPal\u2019s share price spiked on the Q4 and full-year release, taking the stock to the $300 mark, although the wider pullback on tech has since dropped it down to around $250. That\u2019s still an amazing run for a stock that pre-pandemic was trading around $120 and miles ahead of, say, Visa, which finished 2020 up 16 per cent compared to PYPL\u2019s 2020 return of 117 per cent. But Schwartz thinks there\u2019s further upside to PayPal and has nominated the stock as one of his top picks for the next 12 months. \u201cThey had an investor day a few weeks ago where they said, \u2018We hope to get by 2025 to 750 million PLUS users, and we think we\u2019re going to be a member of the 20\/20 club, which is 20 per cent compound revenue growth and 20 per cent compound earnings growth,\u201d Schwartz said. \u201cAt that point, they will be gushing cash,\u201d he said. \u201cWe think earnings can triple over the next few years.\u201d The payments field has gotten a lot more crowded over the years, going beyond the Visas and Mastercards to Google Pay and Apple Pay and to processing platforms like Stripe and Square. PayPal has diversified its product offerings, with mobile-focused Venmo, its PayPal Credit service and payout platform Hyperwallet. Last week, PayPal said its will start allowing US users to pay for e-commerce purchases with cryptocurrency from their PayPal digital wallets. \u201cAs the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto continues our focus on driving mainstream adoption of cryptocurrencies, while continuing to offer PayPal customers choice and flexibility in the ways they can pay using the PayPal wallet,\u201d said Schulman in a press release. Schwartz said with the further adoption of online commerce, PayPal could be reaching must-have status for businesses. \u201cAs more people adopt it services, it creates the network effect and that means you have to get PayPal. And as it adds more services and more products I think it\u2019s just going to be a phenomenal investment for our client, and it has inflation protection,\u201d Schwartz said. \u201cIt\u2019s very similar to a Visa \u2014 if you\u2019re betting like we are on digital payments and more e-commerce and online shopping, then I think you have to own PayPal and Visa,\u201d he said. With its fourth quarter report, PayPal offered 2021 guidance, calling for its Total Payment Volume to grow by the high 20s in terms of percentage and for the company to add about 50 million active users in 2021. The company said revenue is expected to grow at about 19 per cent to about $25.5 billion, while earnings per share should be about $3.20 compared to $3.54 in 2020.