Biggest merchant acquirers in the U.S. 2015-2023, based on number of transactions

The top merchant acquirers in the United States consisted of Chase and Fiserv - a conglomerate that includes Citi, Santander and BBVA, among others - in 2023. Based on total purchase transactions, both two companies had a number of over 37 billion. FIS or Worldpay is the only other company with over 30 billion of transactions processed. 

Payment card acquisitions

In such transactions, the acquirer is a bank or financial institution that processes credit or debit card payments for products or services of a merchant. Credit or debit cards are the preferred payment method for the majority of people in the United States. This market has particular growth potential in the developing world, where the number of non-cash transactions is projected to increase significantly in the coming years.

Credit card flexibility

New technologies are making credit card use easier, but they also provide alternatives. Mobile wallets such as Apple Pay and PayPal are increasingly commonly accepted by North American retailers. These generally make use of a credit card, but other mobile payment methods such as Venmo use direct bank transfers. To keep from losing market share to the banks, credit card companies might need to find a way to enter the peer-to-peer market.