In the quarter, we began delivering claims payments on behalf of insurance providers like Chubb Insurance, Asurion and Combined Insurance.
And I expect to see good revenue growth, continued strong, strong revenue growth on the Venmo side. And thank you for joining us. And that by the way is with Travel and ticketing events down 60% or so. Look at the number of merchants that are coming on to our platform, 1.7 million in just one quarter. Honey, we think, significantly increases our engagement with consumers. Consumer behavior has shifted in a discontinuous manner, and PayPal clearly has a unique opportunity to accelerate its path to becoming an everyday essential service.The strength that we saw across our business in April continued to gain momentum throughout Q2.
For the first quarter, we expect revenue in the range of $4.78 billion to $4.84 billion or 17% to 18% growth on a currency-neutral basis. At the same time, given our exposure to travel in light of events, we watched demand in these verticals essentially grind to a halt. Returns as of 08/13/2020. For instance, we feel very comfortable with our forecast around TPV. And it's really interesting when you think about it, we've always known the identity of people.And we've always known that they've made purchases. Relative to when we last reported earnings nearly three months ago, we have more confidence in the sustainability of the elevated e-commerce trends we are seeing.
We added a record, 21.3 million new customers in the quarter, increasing nearly 140% year over year.To put this in perspective, this quarter's Net New Actives were greater than our total Net New Actives in 2016. And I think it's worth mentioning -- and doing it while expanding operating margins in 2019 and giving us the latitude to make the investments that we need in 2020 to continue this trend of mid-20s TPV growth into the future.Yes. And if anything we're feeling better about our projections than we have.But we're just beginning the end of the operating agreement right now. We saw about a point decline related to eBay. Could you drill down into the sequential tripling of the drivers of the sequential tripling in net new accounts for Honey, and any pull-through benefits you see on for the PayPal ecosystem as a whole.I think, in this economic environment frankly and even before this because you had so many people struggling to make ends meet at the end of the month, and that's just made even worse by the economic ramifications from the pandemic.
PayPal Reports Second Quarter 2020 Results 642.9 KB. And I think that gives us, in some ways, a competitive advantage versus the other players in the landscape that we compete with because we have the opportunity to go out and acquire companies and acquire capabilities as well as invest internally as well as return cash to shareholders. As a result, our non-GAAP EPS grew by 49% year over year to $1.07, and all of this led to a record free cash flow of $2.2 billion in the quarter up 112%.In the first half of 2020, the penetration of e-commerce as a percentage of retail sales outpaced prior to external forecasts by an astonishing three to five years. I think each of these capabilities whether it be direct deposit, whether it be business profiles, the credit card, and a number of other things that we'll be adding are being rapidly adopted. And as we're getting that scale on the revenue side, we're beginning to see losses reduce as well each year. This year, as Dan just discussed, in addition to prioritizing spending on our recent acquisitions, we're also investing in Venmo, our new partnerships, international expansion and our in-store point-of-sale strategies. But even more importantly meaningful to our customers, merchants, and consumers in terms of the capabilities that they are asking for us. As all of you know, we are witnessing an outpouring of emotion, and determination to address centuries of systemic racism.
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