The online payment market worldwide is growing along with global B2C E-Commerce. The online, mobile and contactless payment market worldwide is projected to grow annually at low-range double-digit figures for the next several years. As is the case with other growing industries, the competition on the online payment market is intensifying.
One trend where the intense rivalry becomes vivid is the wave of consolidation which has shaken the top industry players. In a major deal worth over EUR 800 billion, last year the Ingenico Group acquired an online payment service provider with a worldwide reach, GlobalCollect, less than two years after it acquired another online payment company originating from the Benelux countries, Ogone. Meanwhile, MasterCard acquired the Gateway Service business of Transaction Network Services for its online payments processing company DataCash in 2014. Furthermore, the online payment processing unit of the Optimal Payments group, Netbanx, was expanded through an acquisition of US-based processors TK Global Partners and Global Merchant Advisors, while the parent company itself is currently in the process of acquiring its major competitor in the E-Wallet business, UK-based Skrill.
For more information on online payment service providers, check the infographics and press releases in the media section and view key findings of the profiles of the 10 leading online payment service providers in our online shop.