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Payment Processing Solutions Market Share

Report ID: GMI3597
Published Date: Aug 2024
Report Format: PDF

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Payment Processing Solutions Market Share

PayPal Holdings Inc. and Square dominate the payment processing solutions industry with a market share of over 10% in 2023. PayPal Holdings Inc. and Square dominate the payment processing solutions market due to several key factors. Both companies excel in innovation and technology, with PayPal pioneering online payments and continually offering secure, user-friendly services such as PayPal Here, Venmo, and Braintree, while Square introduces groundbreaking solutions like the Square Reader, Square Register, and a suite of software services for small to medium-sized businesses (SMBs).

Their extensive user base and market reach further bolster their dominance; PayPal supports transactions in multiple currencies and regions, enhancing global market penetration, whereas Square's focus on SMBs with user-friendly tools and affordable hardware broadens its audience.

Payment Processing Solutions Market Companies

Major players operating in the payment processing solutions industry are:

ACI WORLDWIDE
Adyen
Alipay
Alphabet (Google Pay)
Amazon Payments, Inc.
Apple Inc. (Apple Pay)
Authorize.Net.
FIS
Fiserv
GLOBAL PAYMENTS
MASTERCARD
PayPal Holdings Inc.
Square

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of payment processing solutions reached USD 61.1 billion in 2023 and is set to register 10.5% CAGR from 2024 to 2032, owing to the rise in e-commerce and digital transactions worldwide.

Payment processing solutions industry from the Near Field Communication (NFC) technology segment held over 42% share in 2023, due to enabling seamless and secure contactless transactions in payment processing solutions.

North America market held 44% share in 2023, attributed to high adoption rate of contactless payments, driven by widespread NFC technology and consumer preference for convenience in the region.

ACI WORLDWIDE, Adyen, Alipay, Alphabet (Google Pay), Amazon Payments, Inc., Apple Inc. (Apple Pay), Authorize.Net., FIS, Fiserv, GLOBAL PAYMENTS, MASTERCARD, PayPal Holdings Inc., and Square, are some of the major payment processing solutions companies worldwide.