Why hasn’t PayPal launched another major breakthrough product in recent years?

PayPal started as a payment concept and has now evolved to a payments ecosystem. It has created virtually one of the most recognized brands for payments across the world.

Within PayPal there are many products. And they continually keep adding to it, by buying/acquiring more companies. Think Braintree, Venmo, Xoom, TIO Network, etc.

The breakthrough products are within their ecosystem.