The Global Payment Processor Market size is expected to grow from USD 50.87 billion in 2023 to USD 84.57 billion by 2028, at a CAGR of 10.70% during the forecast period (2023-2028).
The market growth can be attributed to the rising global prevalence of the internet and smartphones. Because of the ease of access to the internet, the use of digital payment processing has increased, resulting in the expansion of the payment processing solutions business.
The Payment Processor Market is highly fragmented with the precence of major players like PayPal Holdings Inc., Due Inc., Stripe, Adyen, and Square Inc. Players in the market are adopting strategies such as partnerships, mergers, innovations, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
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