American Express Co, PayPal Holdings Inc, Visa Inc, Mastercard Inc, and Block Inc are the top 5 payment companies in the world in 2021 by revenue. Cumulatively, the top 10 global payment companies had annual revenue of $168,197 million in FY2021, where American Express Co ($42,838 million) had the highest, followed by PayPal Holdings Inc ($25,371 million) and Visa Inc ($24,105 million), while Samsung Card Co Ltd stood lowest ($$3,136 million). In aggregate, the top 10 companies had revenue growth of 30.5%. The highest revenue growth was registered by Block Inc (86.0%) followed by Adyen NV (70.78%), and Worldline SA (49.8%), while the lowest revenue growth was registered by Visa Inc (10.3%) and Fiserv Inc (9.3%). In terms of the geographical split, 7 out of 10 companies are based in North America, and the remaining companies are based in Asia and Europe. They have employed a total of 243,199 people in 2021. The United States of America-based American Express Co is the leading payment company in the world by revenue. The company reported revenues of $42,838 million for the fiscal year ended December 2021 (FY2021), an increase of 15.7% over FY2020, due to a doubling of travel and entertainment spending and a record level of card member spending, with billed business increasing 25% to $1.09 trillion, led by strength in goods and services spending globally. The company is a provider of card products and travel-related services. It offers a range of credit cards, charge cards, and other payment and financing solutions to individuals, small and middle businesses, and corporates. It is headquartered in New York City, The US, and employs 64,000 people in FY2021.
The backbone of the payment industry is the card brands - Visa, Mastercard, American Express, and Discover - they are responsible for the networks that connect all the players.
What are the biggest payment networks? Among the biggest payment networks in the world are: Visa, which in 2023 processed 212.6 billion transactions on its networks, and lays claim to just short of 62% of the credit card market share in the US.
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.
As of 2022, there were more than 900 payment providers in the world. More than 300 offer services just for Europe and North America. The global payment service provider market is expected to reach $US88 billion by 2027 from $US40 billion in 2019.
PayPal. You're probably already familiar with PayPal, but this popular service deserves to be on the list of best payment processing companies for its ease of use and ubiquity.
Take credit cards, a major payment method in the US. Cards are still the most-used payment method, with American Express, Mastercard, Visa as large global card schemes.
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