Top 10 Payment Processing Companies - 2022

The payment and card industry has taken an innovative turn while wading through the unchartered waters of the COVID-19 pandemic, providing a once-in-a-generation opportunity for merchants to seize upon the shifts in consumer payment behaviors. As we foray into the cashless economy with the rise of digital payments, businesses are responding in an effort to increase operating efficiency and reduce wait times for customers.

As reported by MarketsandMarkets, the size of the payment processing solutions market is expected to grow from $90.9 billion in 2022 and reach $147.4 billion by 2027, at a Compound Annual Growth Rate of 10.1 percent during the forecast period.

What fuels this growth is the latest wave of digital technologies enabling merchants to make payments their competitive edge. For example, by leveraging contactless payments methods, companies are enabling customers to pay faster, more securely, and conveniently.

Security is another key concern in the payment and card arena. With fingerprint scanners, facial recognition, iris recognition, heartbeat analysis, and vein mapping gaining prominence, biometric authentication is also emerging as a reliable solution to identity theft and fraud and ensure accuracy, efficiency, and security in payments.

This edition of CIOReview highlights the key developments in the space and how companies are capitalizing on them to deliver robust payment solutions. We have curated thought leadership articles from industry experts, including the SVP, Risk Management at Atlantic Union Bank, the SVP, Head of Global Payments at East West Bank, and the Executive Vice President and Chief Digital Officer of Simmons Bank.

We also took a deep dive into the market trends to narrow down the list of companies delivering robust payment and card solutions. Equipped with innovative technological capabilities, these enlisted companies, including Prime Payment Solution, vcita, Verituity, and National Merchants Association, help transform businesses at the cloverleaf of various disruptive technologies.

We hope this edition of CIOReview on payment and card industry will help you build the partnership you and your organization need to foster an environment driven by efficient technology.

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    Payment Processing Companies

  • 1

    Prime Payment Solution brings forth the services of multiple payment processors along with multiple loyalty programs. The company offers a wide variety of payment processors for merchants to choose from without any mark-ups or hidden fees. Prime Payment Solution’s agents understand merchant requirements and expectations from processing providers, which helps boost a merchant’s business. Agents then present the most suitable solution that not only aligns with the merchant’s goals but also offers the best rates and fees on payment programs after analyzing each merchant’s specific situation and needs.

  • 2

    Celero Commerce

    Celero Commerce

    Celero is delivering simple-to-use, bundled electronic payments solutions that enable efficient, sustainable growth to small & mid-sized businesses

  • 3

    Covenant Pay Partners

    Covenant Pay Partners

    Covenant Pay Partners is a payments technology company delivering payment processing and omni-channel payment acceptance solutions to enterprises of all sizes

  • 4

    EVO Payments

    EVO Payments

    EVO is a fully integrated merchant acquirer and payment processor which provides expert payment solutions and services

  • 5

    First Direct Financial

    First Direct Financial

    First Direct Financial provides Credit Card Processing and Merchant Services, which are designed to meet the payment needs of organizations both large and smal

  • 6

    FIS

    FIS

    FIS has been Providing payment, banking and investment Fintech softwares to bussinesses all over the world since 1968

  • 7

    FlashBanc

    FlashBanc

    FlashBanc is a leading electronic payments technology and loyalty marketing software provider with their cloud based solutions helping thousands of small, medium and large businesses

  • 8

    Merchant e-Solutions

    Merchant e-Solutions

    Merchant e-Solutions is an end-to-end payment platform offering flexible and secure payment processing for the growth of all businesses

  • 9

    Payroc

    Payroc

    Payroc is a people-first global payment processing company providing smart and custom-based solutions to its customers

  • 10

    POSaBIT

    POSaBIT

    POSaBIT is a financial technology company that delivers blockchain-based payment processing and point-of-sale technologies and devices for industries such as Marijuana and cannabis, where debit card transactions are limited