Credit card processors are mostly responsible for data transmission and security when you use your card at a store or online to make a purchase.
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These are the leading credit card processing companies (JPM, BAC, C, WFC, VNTV, TSS, BCS, FDC, WPG)
Not sure which credit card processing company to use? We've compiled a list of the industry's leading providers to help you decide.
There are two types of processors in the payment-card system. Front-end processors route transactions from merchants to the cardholder's bank to gain authorization; that is, they make sure a customer has enough available credit or funds to make a purchase. Back-end processors are responsible for a fund's settlement, which ends with the merchant receiving a deposit for transactions.
Below, we've outlined the major players in credit card processing and described their major strengths.
- Bank of America
- Merchant Services
- Citibank:
- Wells Fargo:
- Chase Paymentech:
- Barclays:
- Vantiv:
- Vantiv has been successful thanks to its nearly error-free purchases, authorizations, and captures. In May 2015, it successfully completed 95% of these transactions, ahead of competitors such as Worldpay, PayPal, and Braintree. The company also has a significant speed advantage, as it often processes payments data in less than a second.
- First Data:
- Cielo:
- TSYS:
- Global Payments:
- Worldpay:
- Moneris:
- Fiserv:
- mobile banking
- Adyen:
- Heartland Payment Systems:
- Elavon:
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More to Learn
These card processors handle so much volume and so many dollars every day, but they are still just one piece of the larger payments ecosystem, which includes issuers, merchants, and more.
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