OMAHA, Neb., March 18, 2020 /PRNewswire-PRWeb/ -- The Strawhecker Group (TSG), the leading consultancy specializing in payment acceptance, is pleased to recognize a selection of payment service providers (PSPs) in the U.S. credit and debit card payment processing landscape that have a leading share of the market within seven key categories. Leaders highlighted include JPMorgan Chase & Co., Worldpay from FIS, Square, First Data is now Fiserv, Clover, Authorize.Net (a Visa solution), and Wells Fargo.
Powered by TSG's annual Directory of U.S. Merchant Acquirers*, TSG evaluated over 325 PSPs serving the U.S. to identify key business statistics on the industry's major providers, as well as entities that partner with these providers.
"We have been completing this type of analysis on the merchant acquiring landscape for 13 years. TSG is pleased to recognize the companies that have such major roles in driving our industry forward," said TSG President, Mike Strawhecker.
See below for the list of leaders within each category. This assessment recognizes which PSP has the largest amount of business compared to its peers in each category, specifically within the United States. The assessment does not consider quality, innovation, or any other criteria outside of market share.
U.S. Merchant Acquiring Market Share Leaders:
Most Dollar Processing Volume in 2019
This category refers to the total dollar amount of credit and debit card transactions processed in 2019.
JPMorgan Chase & Co. is receiving this recognition for processing $1.51 trillion in 2019, the most dollar volume compared to all other payment service providers evaluated.
Most Transaction Processing Volume in 2019
This category refers to the total number of credit and debit card transactions processed in 2019.
Worldpay from FIS is receiving this recognition for processing 31.1 billion** transactions, the largest number of individual payment transactions in 2019 compared to all other payment service providers evaluated.
Most Merchant Clients in 2019
This category refers to the total number of payment processing clients served in 2019.
Square is receiving this recognition for processing payments for 2.6 million** businesses, the most businesses in 2019 compared to all other payment service providers evaluated.
Companies that Partner with U.S. Merchant Acquirers – Market Share Leaders:
Most ISO Relationships in 2019
This category refers to the total number of Independent Sales Organizations (ISOs) served in 2019.
First Data is now Fiserv is receiving this recognition for serving the most ISOs in 2019 compared to all other payment processing providers evaluated. First Data is now Fiserv was the authorization and/or settlement processor for 168 of the payment service providers evaluated.
Most Offered Smart Point of Sale System Among Merchant Acquirers in 2019
This category refers to the smart point-of-sale (POS) product most widely available for purchase among U.S. payment service providers in 2019. A smart point of sale system is defined as a software/hardware product that allows businesses to accept credit and debit card payments from customers, as well as manage various operations of the business.
Fiserv, specifically Fiserv's Clover Point of Sale product line, is receiving this recognition for being available in the product set of 124 of the payment service providers evaluated in 2019.
Most Partnered Payment Gateway Among Merchant Acquirers in 2019
This category refers to the third-party payment gateway most widely used among U.S. payment service providers.
Authorize.Net (a Visa solution) is receiving this recognition for being the payment gateway with the most partnerships in 2019, among the payment service providers evaluated. Authorize.Net was partnered with 105 of the payment service providers evaluated.
Most Sponsor Bank Clients in 2019
This category refers to the total number of payment service providers financially backed for potential risk related issues in 2019.
Wells Fargo is receiving this recognition for sponsoring the most payment processing providers in 2019, compared to all other banks offering this type of service among the payment service providers evaluated. Wells Fargo sponsored 161 of the payment service providers evaluated.
*TSG's annual Directory of U.S. Merchant Acquirers is the most comprehensive report available on U.S. merchant acquirers, featuring over 8,500 data points on 325 entities, covering national leaders to regional players.
**This figure is estimated by TSG.
Companies and/or products considered for any TSG awards may or may not include clients of TSG and does not necessarily represent all companies or products in the market. This analysis is based upon information we consider reliable, but its accuracy and completeness cannot be guaranteed. Information provided is not all inclusive. All information listed is as available as of March 2020. Numerical payment processing metrics such as payment processing volume are based on full year 2019 performance. The Strawhecker Group (TSG) is not and/or may not be endorsed, sponsored by, or in any other way affiliated with the any companies or their logos illustrated in this presentation. The trademarks shown are registered and their own. This document has not been prepared by any entity displayed.
About TSG
The Strawhecker Group (TSG) is the largest analytics and consulting firm focused on the payments acceptance industry. TSG serves the entire payments ecosystem and has experience in working on large-scale projects for the world's biggest payment players. The firm has worked with all card networks, nine of the top ten merchant acquirers in the U.S., as well as leading private equity firms and investment banks. For more information please visit http://www.TheStrawGroup.com.
SOURCE The Strawhecker Group
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