Digital Payments Catch up to Credit Card Giants

Visa is the undisputed leader among the world’s payment processors with more than $10 trillion in payments processed per year. But the globe’s two other credit card giants, Mastercard and American Express, have already been overtaken by providers from the digital and mobile payment competition, as data aggregated by Statista shows, Apple Pay and Alipay are the second and third-biggest payment providers in the world, according to the data, both surpassing $6 trillion of payments processed per year.

According to Statista analysts, PayPal, Amazon Pay and Samsung Pay are much smaller players in the digital payment market that is only poised grow in coming years. More info can be found in the new Statista study Mobile Payments II: The business models behind mobile payments.