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Payment processors software

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Payment processors are businesses that process electronic payment transactions for merchants. Payment processors authorize, route, and settle credit and debit card payments between banks and merchants. They serve as intermediaries between the customer’s bank and the merchant’s account, providing increased security and efficiency to the payment process. Common types of payment processors include PayPal, Stripe, Square, and Authorize.net.

This chart displays the market share of the top 10 Payment processors software in 2024, highlighting the most popular tools used by online merchants.1. PayPal leads with a notable 28.15% share.2. In second place, Stripe at 12.22% share.3. Meanwhile, Klarna Checkout at 9.12% share.