Top 25 Payment Processing Companies in 2020
28 Feb

Top 25 Payment Processing Companies in 2020

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The entire world is rapidly moving towards the digital zone where everything is possible in the wink of an eye, there are many payment processing companies that are found online and the safe transactions are carried out all over the regions. All the startups, small businesses, and large-scale businesses are using digital transaction methods and payment processing to collect payment from their customers.  

Predominantly, the ecommerce business plays a pivotal role in the transaction. Whenever, the customers buy online and initiate the online payment there a few steps that needs to be completed. Before the start of the payment process, you need to focus on two main aspects they are as follows: 

  • At first, choose the best ecommerce software and install the same to build your online store. 

  • Next, for the payment process, you need to select the top-notch companies to integrate your ecommerce platform with the payment processors to receive payments from the customer. 

Payment Processor: 

A payment processor is a company chosen by the merchant (or entrepreneur) to manage their online transactions with the customers. It includes a tool called payment gateway and these payment processors and gateways together control the safest transaction between the merchant and the client’s account. It has front-end and back-end processes and we will discuss on the above-mentioned processes in the following passages. 

Front-end process: 

In front-end, the payment processing companies will enable interactive UI/UX design to the client through their payment application. The client will use his/her credit or debit card to make the payment. The payment will be processed and the required outcome will be given to the customer. This is the main process in the front-end process and it is user friendly. 

Back-end Process: 

An arterial process will be carried out in this back-end process.  

  • When the customers are interested in the products of the ecommerce store and decide to buy products, then they will be redirected to the payment process. If the customer does the offline payment process, it is well and good. If they choose online payment mode, the huge payment processor will begin. 

  • The customer will make the payment through his credit card or debit card via the tool, (i.e.,) payment gateways. The secured payment gateways will transfer this client’s transaction information to the payment processor. 

  • The payment processor will analyse whether the customer is eligible to make the payment and it acts as a bridge between the merchant’s bank account and the client’s payment account. 

  • Once the client’s payment details are found eligible, this response will be transferred to the payment gateway to deduct the client’s amount.  

  • Finally, the payment processor via the tool, payment gateway, credits the merchant’s bank account with the client’s payment.  

  • The entire payment processor is working along with the payment gateway to complete the payment process; the payment processor will receive a commission fee during each successful transaction between the merchant bank account and the client’s bank account. (i.e.,) the merchant account has to pay some amount to integrate that payment processing company with their business. 

Want a little more information? Keep abreast of the: Best ecommerce Payment Gateway Types 

On top of all, choosing the perfect payment processors for your business is to be focused keenly, because if you choose the wrong one, then both you and your customers will be the sufferers. Identity companies with a wide range of resources available online and offline that will best fit your online transactions. You need to be confident in choosing your payment process. At this juncture, we need to discuss the best payment processing companies for your online transactions. 

Top 25 Payment Processing Companies: 

You can choose the best one from the payment processing companies list, which is suitable for your business. Let’s start. 

1. PayPal: 

Founded: 2008 by Elon Musk and his team 

Headquarters: California, United States 

Global Users: 305 million active and valued account holders are in the list at the end of 2019. 

PayPal is one of the famous payment processing companies which suits all sized online businesses. If you integrate PayPal to your business, then it will benefit your customers a lot. The seller can get customers’ payment only with their PayPal account number without getting their personal credit/debit card details. Thus, the customer will be happy with this easy payment process and you can have a chance of gaining more customers in the long run. 

2. Stripe: 

Founded: 2009 by Patrick Collison and John Collison 

Headquarters: California, United States 

Supported Countries: Currently 31 countries across the world such as The United States, Australia, etc., are supported by Stripe with 24 different currencies. 

Next to PayPal, Stripe is also a leading payment processing company for online businesses. With Stripe, you can develop your payment API for your business. It is a bit tough to accommodate UI for non-technical customers. The main advantage in Stripe is that the clients are not redirected to another site while the payment process is going on and allows them to stay on the same page. Stripe is well suitable for the credit card processing system. 

3. Amazon Pay: 

Founded: 2007 by the Amazon team 

Headquarters: Washington, The United States 

Global Users: 33 million  

Amazon launched this Amazon Pay - an online payment processing system. Since Amazon is a popular ecommerce business brand, Amazon users are also getting attached to this Amazon Pay system. Not only for the online payments, but also for the other works like mobile recharges, bill payments are completed with ease by this payment processing system. Hence, you can use this option as this payment system has huge traffic. 

4. Google Pay:  

Founded: 2015 by Google 

Headquarters: California, The United States 

Global Users: 55 million monthly active users 

In 2015, Google collaborated two separate colossal services like Android Pay and Google Wallet into one brand as Google Pay. In the current trend, Google Pay has a huge number of traffic and helps customers to complete a rapid and secure payment transaction. Google Pay is popular due to its easy-to-use interface which is comfortable for all customers to use it. The merchant can receive the payment from the clients just with their registered phone numbers alone.  

5. Apple Pay: 

Founded: 2014 by Apple  

Headquarters: The United States 

Global Users: 382 million users 

Launched successfully in the US, Apple Pay is also spreading all over the globe with its excellent payment processing features. Similar to Google Pay and Amazon Pay, Apple Pay has a trusted community across the world. Apple is a popular brand all around the world due to its safe transaction features. Likewise, Apple Pay has also gained traffic with its advanced comforts in payment processing systems.  

6. Due: 

Founded: 2015 by John Rampton 

Headquarters: California, The United States 

Employees: 11-50 

Due is a growing payment processor company with the mission to provide the easiest online payment process to the people. It is mainly focused on customer service and security. If offers various services like eChecks, ACH Payments, digital wallets, etc., which makes its clients work minimised for an easy online transaction. It is completely a free platform for the sign-up process and supports both credit and debit cards. 

7. Checkout: 

Founded: 2012 by Guillaume Pousaz 

Headquarters: London 

Employees: 500+ in 10 countries 

With 10 branches worldwide, Checkout is establishing its payment processing system in different regions. Checkout is integrated with 100+ shopping carts and has pre-integrated merchant accounts and payment gateways. It provides single integration methodology that accepts multiple payment channels from the customers. It also supports 150 currencies.  

8. Bit Pay: 

Founded: 2011 by Tony Gallippi and Stephen Pair 

Headquarters: Arlington, Virginia 

Bit coin Transaction: 200k per month 

Bit coin is a popular term where the crypto currencies and the digital asset are transferring into the Bit coin network. If you are handling Bit coin-related investment, then Bit Pay is the safest payment processing system for you. It always provides high security to a Bit coin wallet. As a Bit coin user, you can use your Bit Pay visa and can swipe your prepaid debit cards for transactions. 

9. GoCardless: 

Founded: 2011 

Headquarters: United Kingdom 

GoCardless, as the name sounds, is unique for the clients with online payment processing systems without the usage of cards. It is widely appreciated as the best debit provider. Not only for the easy payment processing setup but also for helping in tracking the payment transaction process. For the merchant, GoCardless is found cheaper than PayPal to integrate it with their business. 

10. Square: 

Founded by:  Jack Dorsey and Jim McKelvey 

Headquarters: California, The United States 

Square has been established in different countries like London, United States, Canada, Japan, etc., Square is expanding its payment processing systems to reach more customers. Square reached over 2 million businesses with its various features from Payment to the Payroll process. For all industries and businesses, Square provides perfect solutions and also offers customer-friendly products like chip reader, to make the payment process easy and comfortable. 

11. Flagship Merchant Services: 

Founded in:  2001 

Headquarters: San Franciso, The US 

Company: Private based company with 11-50 employees 

Residing in Albama, the Flagship has attained its record of providing advanced products and services to the merchants. Suitable for small and medium-sized businesses, Flagship maintains its promises by offering quality payment services to their merchants. As the brand sounds, Flagship Merchant Services is one of the good choices for payment process integration. 

12. Adyen 

Launched in:  2006 by Pieter van der Does and Arnout Schuijff 

Location: In 21 places like Amsterdam, Berlin, London, Hong Kong, etc., 

Adyen is a global payment processing system suitable for online businesses that are running globally. Adyen has achieved success by its step-by-step process and provides a user-friendly payment platform that offers people to transfer and receive the amount with great ease. 

13. Tsys: 

Founded in:  1967 

Headquarters: Georgia 

Tsys is also a payment provider serving globally with its innovative software services. Around 80 countries in the world are using this Tsys payment processing system for their business and it has its tagline as People-Centered Payments. It offers innovative solutions to its clients and merchants. 

14. Payline Data: 

Founded in:  2011 

Headquarters: Chicago 

Payline Data is offering services to merchants like credit card payment processing, debit card, payment gateway with payment facilitation, etc. On the contrary, the only drawback of this system is that it is providing its payment processing services within the US. If you are outside the US, you can try another option. 

15. Beacon Payments: 

Location: Boston 

Founded in: 2008 

Employees: 51-200 

Beacon Payments is offering various merchant solutions like credit card processing, credit card terminals, check the processing, point of sale, mobile payments, etc., It is also helpful for all size of businesses as it provides user-friendly mobile wallet payments process. 

16. Blue Pay: 

Founded in: 2003 by John Rante 

Headquarters: Naperville, Illinois 

Blue Pay is a useful payment processing company for merchants especially in the United States of America and Canada. It offers payment services for business-to-business (B2B) and Business-to-Consumer (B2C) business models. Blue Pay is an omni channel payment processing service provider. 

17. Card Connect: 

Founded in:  2006 by Brian Shanahan 

Headquarters: King of Prussia, PA 

Card Connect is a first data company that helps businesses to maintain multiple bank accounts into a simple platform. They are helpful for credit card processing, Payment gateway, Payment integration, etc., Another important aspect is Fiserv, it is a global financial technology service provider and both Blue Pay and Card Connect are serving under this Fiserv. 

18. Samsung Pay 

Released in:  2015 by Samsung Electronics 

Location: South Korea 

Global users: 10 million active users 

Samsung is an electronic multinational conglomerate located its headquarters in South Korea. Being popular in India as Samsung India brand, it has the Indian headquarters at Haryana. As Samsung is already created the brand with its various electronics and home appliances products, it is also introduced as the safest payment processing system as Samsung Pay. Samsung Pay is completely a mobile payment service that accepts both credit cards and debit cards. 

19. Chase Paymentech 

Founded in:  2005 by Jamie Dimon 

Headquarters: New York 

JP Morgan Chase and Co. is a popular and multinational financial service and investment company. Chase Paymentech is an acquiring business company of JP Morgan. In this case, Chase Paymentech owns its clients with its quality payment processing systems, as it is one of the biggest brands in the online industry.  It offers international payment processing services and POS (Point of Sale) solutions.  

20. Circle 

Founded in:  2013 

Headquarters: Boston 

Similar to Square, Circle is also on the path of payment processing service providers and allows its clients to send the amount via mail or by text to the particular bank account.  It is supported both in Android and iOS devices, it is one of the better options to use for the payment process.

21. Clover 

Founded in:  2012 by Leonard Speiser and John Beatty 

Headquarters: Sunnyvale, CA 

Clover is a customized POS platform that offers services like POS solutions, payment processing platforms, and marketing tools for online stores. It helps its clients to build their online stores in addition to providing payment processing services. 

22. Dwolla 

Founded in:  2008 

Headquarters: Des Moines, Iowa 

With a simple theme of easy payments, Dwolla is developed the payment processing platforms that allow its clients to transfer the money safely. It is a friendly platform that integrates merchant bank accounts easily for the business payment process. 

23. Braintree 

Launched in:  2007 by Bryan Johnson 

Headquarters: Chicago 

Parent Organization: PayPal 

Braintree is one of the most popular payment processing companies to intertwine your business with the merchant’s account. In 2013, PayPal acquired Braintree and now it is serving under the PayPal service. Since PayPal is having many advanced features, you can also merge with Braintree to experience the same payment-based services. Apart from this, the Braintree covers a large number of newly developed merchant accounts to support the growth of the new merchants.


Founded: 2004 by Jack Ma and his Alibaba team 

Headquarters: Pudong, China 

 If you are an online entrepreneur or an online shopper, then you might certainly be aware of Alibaba, the best multinational technology company in ecommerce, retail, etc., Jack Ma, the founder of Alibaba also introduced this Alipay to provide the safest payment processing for their clients. Like Amazon Pay, Google Pay, Alipay is also a digitalized wallet with various amazing features to explore.  

25.Razor Pay: 

Founded in: 2014 by Harshil Mathur and Shashank Kumar 

Headquarters: Bangalore, Karnataka 

Company: Privately-held with 51-200 employees 

Razor Pay is the budding payment processing company in India with a medium and an organised customer community. Razor Pay supports all payment channels like debit cards, credit cards, and it is the only mobile wallet in India that allows business to accept payment through product suite. Thereby, with no doubt, if you are running a business within India, Razor Pay will be the best choice for you. 

The entire payment gateway stands out with its secured payment services and efficient services to the customers.   

You need to access to the account referring to  the nature of your business and its functionalities provided by the payment gateway providers when it comes to the chosen one payment gateway for your business needs.  

And if you're running a business successfully and looking forward to the integrated payment gateway of your choice you can look at the blog A payment gateway Integration Guide to know completely about the integration process. 


To conclude, it is certain that one of these 25 payment processing companies will help you to maintain your online transaction faster and secure.  

The blog is aimed at exhibiting the information to the public, the quality and variety of payment gateway available. It is your choice to opt for the best one among the aforementioned 25 payment processing companies. Purchase the best ecommerce software to build your SEO friendly online store. Purchased Commerce will provide you various customised plans to buy your suitable ecommerce platform. 

The advantage in Purchase Commerce is that it provides multiple payment gateway options like PayPal, Stripe, Pay U, Insta mojo, Amazon Pay, Paytm, HDFC bank, etc., So, you can choose the best payment gateway and processing method for your ecommerce business. Let us join hands in realising your dream of building an ecommerce website for successful and secure payment transactions.