What Is Gross Payment Volume (GPV)?

Gross payment volume (GPV) is the total value of payments that pass through a payment platform over a period. Payment companies use it to show how big they are, and merchants use it to negotiate pricing and read their fees. The idea is simple. The details are not, because every company that reports GPV draws the line in a different place.

What does GPV mean?

GPV stands for gross payment volume. "Gross" means before fees: if a buyer pays $100 and the processor keeps $3, the $100 goes into GPV. Three groups use it:

• Payment companies report it to investors. Block calls it GPV, PayPal and Stripe say TPV (total payment volume), Adyen says processed volume.
• Platforms that let other businesses take payments track it per seller. Stripe's Connect dashboard defines gross payment volume as the "total payment volume processed by connected accounts on your platform".6Stripe Docs, Understand your Connect business (read October 14, 2026)
• Merchants use their own GPV to compare processors and ask for better rates.

How payment companies define it in their filings

There is no industry standard. Here is the exact wording each company uses, read in its latest annual filing on October 14, 2026.

Two details matter. Block's total GPV adds Cash App GPV (peer-to-peer payments received by business accounts, and peer-to-peer payments sent from a credit card) to Square GPV, and leaves out its buy now, pay later products.1Block, Inc., Form 10-K for fiscal year 2025, filed February 26, 2026 Shopify's 10-K never uses the term GPV. It reports "GMV facilitated using Shopify Payments" instead, and its results release of the same day calls that growth "Gross Payments Volume growth".2Shopify Inc., Form 10-K for fiscal year 2025, filed February 11, 20263Shopify Inc., Q4 2025 results press release (Form 8-K, Exhibit 99.1), February 11, 2026

These figures come from the filings above.1Block, Inc., Form 10-K for fiscal year 2025, filed February 26, 20262Shopify Inc., Form 10-K for fiscal year 2025, filed February 11, 20264PayPal Holdings, Inc., Form 10-K for fiscal year 2025, filed February 3, 20265Adyen N.V., 2025 Annual Report, published March 5, 2026 They are not directly comparable, because each one counts something different.

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GPV vs TPV vs GMV vs net revenue

PayPal does not itemize what a "payment reversal" covers in its 10-K.4PayPal Holdings, Inc., Form 10-K for fiscal year 2025, filed February 3, 2026

How to calculate GPV: a worked example

Illustrative example.

The $6,000 of sales tax sits inside every volume figure, yet it never becomes your revenue. That is why GPV usually looks bigger than your sales report.

Why GPV matters to a merchant

Use your effective rate, not the headline rate, when you compare offers. Adyen, for example, reported a 2025 take rate of 17.0 basis points next to its processed volume.5Adyen N.V., 2025 Annual Report, published March 5, 2026 If you sell through a payment facilitator, crossing the Visa threshold can change who your contract is with. For the fees inside each payment, see what is a transaction fee. To find GPV, refunds and fees on a statement, see how to read a merchant statement.