Payment Processing Solutions are the gathering of technological tools which authorize the customer and merchant to work with each other to process financial transactions using the creation of the payment gateway which runs as per the set of rules that the trader has already set up. These solutions offer a beneficial flow of financial transactions by assisting as a middleman between the trader and customer accounts. All of the methods that come along to enhance transactional flow make up these solutions. Also, these solutions include funding, authorisation and settling of a transaction. Some of the payment method includes credit cards, mobile payments: e-wallets, debit cards, mobile payments: payment links and others. Also, some of the payment processor includes Stripe,PayPal andSquare.
Payment Processing Solutions Market Overview
On the basis of recent report offered by Emergen Research titled “Payment Processing Solutions”, the global market size was US$46.81 Billion in 2021 and is anticipated to reach the CAGR of 13.9% over the assessment period. Rising frequency of online shopping drives retailers to choose payment processing solutions and these services helps retailers to control the risk of fraudulent transactions and enhance the customer service. Quick digitalization in payment processing market and rising smartphone incorporation & penetration of online payment services are uplifting the global market and is anticipated to maintain its dominance over the forecast period. The factors including, technological advancement, developing customer expectations and durable infrastructure are predicted to boost the market over the projection period. Also, rising government initiatives towards promoting digital transitions combined with enhancing and simplifying the payment methods are expected to propel the market. Acceptance and execution of technologies to decrease operational cost and maintain safety in the payment processing market is impelling the market growth. Further, rising acceptance of the payment processing solution by several sectors, huge requirement of simplifying the financial transactions substantial efficiency and evolution of e-commerce sector during the pandemic period uplifted the acceptance of these services during the pandemic.
However, absence of literacy in appearing economies and lack of the worldwide standard for international transactions is expected to restrict the market growth over the assessment period. Also, cyber-attacks are the another factor accountable for obstructing the global market.
Top Leading Companies in the Payment Processing Solutions Market: Top 10 By Revenue
- PayPal Holdings Inc.
- PhonePe
- PayU
- Block Inc.
- Global Payments Inc.
- Mastercard Incorporated
- Visa Inc.
- Paysafe Ltd.
- ACI Worldwide Inc.
Google – Revenue [US$256.7 Billion]
Google LLC is an American multinational company headquartered in Mountain View, California, United States. The company focusing on online advertising, search engine technology, computer software, cloud computing, e-commerce, quantum computing, consumer electronics and artificial intelligence. Its services include Google Ads, Google Pay, Google Cloud, Gmail, Google Maps, Google Photos and others. Further, the company has made 240 acquisitions and spent more than US$ 26.90 Billion for the acquisitions. It has invested in numbers of sectors that includes Social Platforms, Cybersecurity, AdTech and others.
Visa Inc. – Revenue [US$29.31 Billion]
Visa Inc. is an American multinational corporation headquartered in San Francisco, California. It enables electronic funds transfers across the world, most commonly vis debit cards, Visa-branded credit cards, and prepaid cards. It is one of the world's most beneficial companies. The company facilitate digital payments over 200 countries across the global, group of merchants, consumers, businesses, financial institutions, government entities and strategic partners through innovative technologies. Also, the company has made 14 acquisitions and spent over $ 29.33B for the acquisitions. It has invested numerous sectors such as Banking Tech, Payments, E-Commerce Enablers and others.
PayPal Holdings Inc. – Revenue [US$25.37 Billion]
PayPal Holdings, Inc. is an American multinational corporation headquartered in Palo Alto, California, United States. It is a financial technology company directing an online payment system in large number of countries which provides an electronic substitute to traditional paper procedure and supports online money transfer. Further, to pay online, it provides credit card readers for utilizing in businesses, debit card for payments and lines of credit. The PayPal is examining as a very secure procedure of sending payments online. The company has acquired 25 companies including 10 in last few years and out of total number of acquisitions 5 came from private equity firms. Also, the company has spent more than US$14.03 Billion for theacquisitions.
Mastercard Incorporated – Revenue [US$18.88 Billion]
Mastercard Incorporated is an American multinational company headquartered in Purchase, Harrison, New York, United States. It is the second largest payment processing company across the globe. The company assist to capture more T&E spend on card, that may assist the company to regulate employee spending, lessen payment processing expense, optimize accounts payable via strong transaction-level reporting. The company has made 6 acquisitions and 11 investments and has invested in various sectors that includes Cybersecurity, Payments, RegTech and others.
Block Inc. – Revenue [US$17.66 Billion]
Block, Inc. is an American multinational technology company headquartered in San Francisco. Block is a mobile payments and financial services company whichsells a wide range of products, that includes point-of-sale software and hardware. The Company grows a payments platform pointed a small and medium businesses which permits them to receive credit card payments and manage tablet computers as the payment registers for a point-of-sale system. Also, it offers marketing and financial services. The company has made 22 acquisitions and has spent more than US$29.71 Billion for the acquisitions. Further, it has invested in numerous sectors that includes E-Commerce Enablers, Food Tech, Payments and others.
PayU – Revenue [US$14.15 Billion]
PayU is a Netherlands-based payment company headquartered in Hoofddorp. It provides services to online merchants. It permits online businesses to receive and process payments via payment methods which can be combined with mobile applications and web. Also, it is secure to save the card information with the company. The global e-commerce traders can receive the international payments using PayU. The company has made 10 acquisitions and has spent more than US$ 5.21B for the acquisitions. PayU has invested in various sectors including Banking Tech, Payments, Finance & Accounting Tech and other.
Global Payments Inc. – Revenue [US$7.42 Billion]
Global Payments Inc. is an American global financial technology corporation headquartered in Atlanta, Georgia, United States. The company offers payment technology and solutions to merchants, consumers and issuers. The company was named to Fortune 500 in June 2021. It is the technology and software company offering the globe’s leading entire commerce ecosystem to ventures of every size it may be small, large or any other size of business. The company has made 12 acquisitions and spent more than US$32.19 Billion for the acquisitions. Also, it has invested in several sectors including Healthcare IT, Payments, Food Tech and others.
ACI Worldwide Inc. – Revenue [US$1.43 Billion]
ACI Worldwide Inc. is an American payment systems corporation headquartered in Miami, Florida. It is a software company offering real-time payment services to the companies to process digital payments, authorize omni-commerce and manage. The company has made 10 acquisitions and has spent more than US$2.18 Billion for the acquisitions. It has invested in several sectors that includes GovTech, Payments, Banking Tech and others.
Paysafe Ltd. – Revenue [US$1.42 Billion]
Paysafe Limited is a European multinational online payments company headquartered in London, United Kingdom. It is leading specialised payments platform. The major aim of the company is to enable consumers and businesses to fix and transact seamlessly via industry-leading abilities in digital wallet, payment processing, and online cash services. The company has acquired11 companies, that includes 6 in the last few years. 1 out of all the acquisitions came from the private equity firm.
PhonePe – Revenue [US$86 Million]
PhonePe is an Indian digital payments company headquartered in Bengaluru, Karnataka, India.It helps in growing the online businesses by authorizing the customers to pay operating the several payment modes. The payment with PhonePe are fast, secure and simple. It offers several payment containers which can simply be combined with any payment gateway on the website, android and iOs apps. The company has made 8 acquisitions and spent more than US$120 Million. Also, the company has invested in several sectors including Mobile App Distribution, Investment Tech, Mobile Utility Tools and others.
Please support us by following us on LinkedIn - https://www.linkedin.com/company/emergen-research
