Online Payment Processing Software Developers in the US - Industry Market Research Report

Cash cow: Online payment services have rapidly been adopted

Online Payment Processing Software Developers in the US

Online payment processing software developers have experienced massive growth over the five years to 2023 as a result of the rapid adoption of online payment platforms by small businesses and growth in peer-to-peer (P2P) payments usage. An increasing percentage of business conducted online has been driven by a combination of organic growth and the COVID-19 pandemic, pressuring companies to invest in online payment technology. Widespread economic growth and growth in consumer spending have bolstered sales for software developers, and revenue has increased an annualized 7.8% to $34.4 billion over the five years to 2023, growing 4.5% in 2023 alone.

This industry comprises establishments primarily engaged in developing online payments processing software. Online payments processing software enables merchants to authorize, settle and manage credit card and electronic check transactions through the internet.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.