June 2026
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Largest Payment Infrastructure Public Companies
Benchmark revenue and EBITDA valuation multiples for public comps like
Visa, Mastercard, American Express, PayPal and Fiserv.
 | Visa is the largest payment processor in the world. In fiscal 2025, it processed almost $17 trillion in total volume. Visa operates in over 200 countries and processes transactions in over 160 currencies. Its systems are capable of processing over 65,000 transactions per second. | $320 | -10% | $609B | $619B | 15.5x | 21.9x | ||
| Mastercard is the second-largest payment processor in the world, having processed close to $10 trillion in volume during 2024. Mastercard operates in over 200 countries and processes transactions in over 150 currencies. | $482 | -14% | $426B | $436B | 13.3x | 21.2x | ||
| American Express is a global financial institution, operating in about 130 countries, that provides consumers and businesses charge and credit card payment products. The company also operates a highly profitable merchant payment network. It operates in four segments: US consumer services, US commercial services, international card services, and global merchant and network services. In addition to payment products, the company's commercial business offers expense management tools, consulting services, and business loans. | $313 | -2% | $213B | $274B | 3.8x | - | ||
| PayPal was spun off from eBay in 2015 and provides electronic payment solutions to merchants and consumers, with a focus on online transactions. The company had 434 million active accounts at the end of 2024. The company also owns Venmo, a person-to-person payment platform. | BNPL+3 | $43 | -42% | $38B | $38B | 1.1x | 4.9x | |
| Fiserv is a leading provider of core processing and complementary services, such as electronic funds transfer, payment processing, and loan processing, for US banks and credit unions, with a focus on small and midsize banks. Following its 2019 merger with First Data, Fiserv also provides payment processing services to merchants. About 10% of the company’s revenue is generated internationally. | $56 | -67% | $30B | $59B | 2.8x | 6.4x | ||
| Circle Internet Group Inc is a financial technology firm engaged in digital currencies and public blockchains for payments, commerce, and financial applications. The company is the issuer of USD Coin (USDC). | $91 | -50% | $23B | $21B | 7.7x | 35.8x | ||
 | Kaspi.kz JSC is the payment, marketplace, and Fintech ecosystem in Kazakhstan. The firm provides interconnected technologically seamless products and services that help people to pay, shop and manage their finances. Its operating segment includes the Payments Platform that connects its customers, which consist of both consumers and merchants, to facilitate cashless, digital transactions, the Marketplace Platform that connects merchants and consumers enabling merchants to increase their sales and consumers to buy a broad selection of products and services offered by a variety of merchants, and Fintech Platform that enables customers to manage their personal finances online and access consumer finance and deposit products through the Kaspi.kz Super App. | $86 | -1% | $16B | $13B | 1.6x | 4.2x | ||
 | Nexi is a payment services provider offering merchant acquiring, card issuing, and digital banking services across Europe. Nexi’s services cover the entire payment chain excluding the card scheme. It offers its acquiring and issuing services either in partnerships with banks, providing point-of-sale terminals, processing, or issuing services on their behalf or directly to merchants. | $4 | -33% | $5B | $6B | 0.8x | 2.6x | ||
| ACI Worldwide Inc develops, markets and installs a portfolio of software products focused on facilitating electronic payments. The firm also leverages its distribution network in the Americas; Europe, the Middle East, and Africa, or EMEA; and Asia-Pacific regions to sell software developed by third parties. ACI software products process payment transactions for retail banking clients, billers such as utilities and healthcare providers, and community banks and credit unions. ACI's customers are financial institutions all over the world, but majority of the revenue is generated in the United States and EMEA regions. | $42 | -8% | $4B | $5B | 2.8x | 9.8x | ||
| GPGI Inc is a diversified holding platform comprising businesses operating in multiple industries. The platform focuses on acquiring, owning, and scaling operating companies. It currently includes CompoSecure and Husky Technologies. CompoSecure provides technology and manufacturing solutions related to metal payment cards, security, and authentication. Its products and services are used by financial institutions, fintech companies, and other customers. Husky designs and manufactures industrial equipment and provides aftermarket services. Its equipment is used in the production of plastic products, including beverage and food containers, medical devices, and consumer electronics components. | $12 | -15% | $3B | $3B | 7.3x | 19.6x | ||
 | DLocal Ltd is focused on making the complex simple, redefining the online payment experience in emerging markets. Through its technology platform, One dLocal, the company enables world-wide enterprise merchants to get paid (pay-in) and to make payments (pay-out) online in a safe and efficient manner. The company earns revenue from fees charged to merchants in connection with payment processing services for cross-border and local payment transactions. The company's geographical segments include Latin America and Non-Latin America with a majority of its revenue being generated from Brazil in Latin America region. | $12 | +4% | $3B | $3B | 2.3x | 9.2x | ||
| Paymentus Holdings Inc provides electronic bill presentment and payment services, enterprise customer communication and self-service revenue management to billers through a Software-as-a-Service (SaaS), secure, omni-channel technology platform. The platform integrates with a biller's financial and operational systems to provide secure and flexible processing of payments, including credit cards, debit cards, eChecks, and digital wallets, across multiple channels such as online, mobile, IVR, call centers, chatbots, and voice-based assistants. The company generates the majority of its revenue from payment transaction fees processed through its platform. Geographically, it derives the maximum revenue from the United States. | $21 | -40% | $3B | $2B | 1.9x | 17.0x | ||
| Crane NXT Co is a industrial technology company that provides proprietary and trusted technology solutions to secure, detect, and authenticate what matters to its customers. It is a pioneer in proprietary micro-optics technology for securing physical products, and its sophisticated electronic equipment and associated software leverages proprietary core capabilities with detection and sensing technologies. The company operates in two segments which are Crane Payment Innovations (CPI) and Security and Authentication Technologies. | $37 | -31% | $2B | $3B | 2.1x | 8.5x | ||
 | Computer Age Management Services Ltd is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions. The company provides a comprehensive portfolio of technology-based services, such as transaction origination interface, transaction execution, payment, settlement and reconciliation, dividend processing, investor interface, record keeping, report generation, intermediary empanelment and brokerage computation and compliance-related services, through its pan-India network to its mutual fund clients, distributors and investors. It also provides certain services to alternative investment funds, insurance companies, banks and non-banking finance companies. | $8 | -15% | $2B | $2B | 11.7x | 24.5x | ||
| Headquartered in Oakland, California, and founded in 2010, Marqeta provides its clients with a card-issuing platform that offers the infrastructure and tools necessary to offer digital, physical, and tokenized payment options without the need for a traditional bank. The company’s open APIs are designed to allow third parties like DoorDash, Klarna, and Block to rapidly develop and deploy innovative card-based products and payment services without the need to develop the underlying technology. The company generates revenue primarily through processing and ATM fees for cards issued on its platform. | $4 | -31% | $2B | $1B | 1.6x | 9.2x | ||
 | E-Finance For Digital And Financial Investments SAE is developing integrated platforms in Egypt's digital revolution. It is a fintech platform and developer of digital payments infrastructures. The company invests in platforms and solutions that serve everyone from government agencies to ordinary consumers. The business has seven operating segments; Services and operation of cards, Integrated solutions, installation, and technical support services, card center services, hosting services, maintenance and network contracts, and others. It derives a majority of its revenue from the Services and operation of the cards segment. | $0 | +75% | $1B | $1B | 11.0x | 20.1x | ||
 | Isracard Ltd is a credit-card company. Its operating segments are the issuance of credit cards, acquiring credit cards and financing. It provides full discounting and clearing services for the credit card brands namely Isracard, MasterCard, American Express and Visa. The company's products and services are gift cards, business cards, student loans, loan for the purchase of a vehicle and other related services. | $4 | -21% | $1B | $3B | 2.2x | 11.8x | ||
 | Evertec Inc is a transaction processing business in Latin America and the Caribbean. Its business segments are Merchant Acquiring, Payment Services - Puerto Rico & Caribbean, Latin America Payments and Solutions, and Business Solutions which derive maximum revenue. The company serves a diversified customer base of financial institutions, merchants, corporations, and government agencies with mission-critical technology solutions that enable them to issue, process, and accept transactions securely. It derives maximum revenue from Latin America Payments and Solutions. Geographically, it operates in Puerto Rico, Caribbean, and Latin America. | $23 | -37% | $1B | $2B | 2.4x | 6.0x | ||
| Fawry For Banking Technology And Electronic Payment is engaged in providing operations services specialized in systems and communications, management, operating and maintenance of equipment's and computers networks services and internal systems of banks, networks, and centralized systems, establish operating systems for banking services through the internet, phone and e-payment services and circulation of secured documents electronically, and renting properties. | $0 | +63% | $1B | $1B | 6.4x | 12.4x | ||
 | Optasia is a B2B2X AI-powered fintech platform covering scoring, financial decisioning, disbursement and collection. The company operates across Africa, the Middle East, Asia, Europe, and Latin America. Its services include: Micro Lending, Airtime Advance, and Data Monetization. | $1 | -- | $1B | $1B | 4.9x | 16.3x | ||
 | Jiangsu Tongxingbao Intelligent Transportation Technology Co Ltd is engaged in providing intelligent transportation platform solutions for expressways, arterial roads and urban transportation. | $2 | -33% | $964M | $440M | 2.8x | 8.2x | ||
| Cantaloupe Inc is a technology leader powering self-service commerce by offering one integrated solution for payments processing, logistics, and back-office management. The group offers a comprehensive suite of solutions, including micro-payment processing, self-checkout kiosks, mobile ordering, connected point-of-sale (POS) systems, and enterprise cloud software. Its product and services portfolio consists of Card Readers, Self-Service Kiosks, Smart Coolers, Seed Pick Easy, Cantaloupe Go, Cheq, Smart Lock Connect, and Vine Digital Studio. The company derives revenue streams from subscriptions, transaction processing, and equipment sales. | $11 | +2% | $826M | $807M | - | - | ||
 | Worldline is a payment service provider offering merchant acquiring, payment processing, and payment infrastructure solutions to merchants and banks. | $0 | -91% | $816M | $3B | 0.6x | 3.5x | ||
 | Cuscal Ltd is a payment and regulated data services provider in Australia. The group offers a comprehensive suite of payment infrastructure solutions to a diversified client base. It enables a range of payment types, from physical cards to real-time payments, in the payment value chain and constantly evolves its offerings to meet the demands of a rapidly changing economy. The company has two reportable segments: Payments and Other segments. The payment segment encompasses electronic and paper payment processing, card products, card platform services, digital application development, liquidity management and settlement services, specialized finance facilities, network communication services, fraud management services, real-time payments, and open data services. | $3 | +62% | $666M | ($2B) | (6.5x) | (13.6x) | ||
| Paysafe Ltd is an integrated payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through capabilities in payment processing, digital wallet, and online cash solutions. The company provides payment solutions through three primary lines of business: Integrated Processing, Digital Wallet and eCash Solutions. It derives a majority of revenue from the USA followed by Germany, the UK, and all other countries. | $7 | -43% | $371M | $3B | 1.6x | 6.2x | ||
 | Azkoyen SA designs manufactures and sells technological solutions for payment systems, vending machines, security systems, and access control. The company operates through time and security, payment technologies, and coffee and vending systems segments. The company generates maximum revenue from the coffee and vending systems segment. The coffee and vending systems segment offers the consumption of raw materials for product packaging, the generation of non-hazardous waste, and the consumption of water and energy for the operation of the facilities. Geographically, the company derives a majority of its revenue from Germany and also has a presence in Spain; Italy; the United Kingdom; the Rest EU; the Rest of the OECD, and the Rest of the World. | $14 | +30% | $340M | $330M | 1.3x | 7.4x | ||
 | GMO Financial Gate Inc is engaged in providing cashless payment infrastructure such as credit cards, debit cards, and electronic money. | $36 | +6% | $298M | $294M | 2.5x | 15.9x | ||
| CPI Card Group Inc is a payment technology company engaged in providing financial payment card solutions and services. It offers credit, debit, and prepaid cards. The business segments of the group are Debit and Credit, which produces Financial Payment Cards and provides integrated card services to card-issuing banks in the United States, and Prepaid Debit, which provides integrated card services to Prepaid Debit Card program managers in the United States and Others. It derives key revenue from the Debit and Credit segment. | $18 | -25% | $204M | $474M | 0.9x | 4.9x | ||
| Densan System Holdings Co Ltd is engaged in providing comprehensive information technology services. Its Payment Acceptance Service offers a wide variety of innovative settlement services. | $18 | -- | $197M | $72M | 0.2x | 2.4x | ||
| Intelligent Wave Inc is engaged in sales of system development services and system products, including hardware and software. It operates in two business segments including the Financial Systems Solutions business, and the Product Solutions business. In the Financial Systems Solutions business, it offers value-added system development, through software and hardware integration, and maintenance services for customers operating primarily in the financial services industry. In the Product Solutions business, it deploys and maintains high value-added systems for data security and other solutions based on the in-house developed product as well as system software procured from third parties for customers operating in a range of industries and fields. | $6 | -17% | $153M | $113M | 1.1x | 5.5x | ||
| wrkr Ltd, formerly Integrated Payment Technologies Ltd develops technology to facilitate the secure storage and transmission of data concerning payments. Its services include ClickSuper Service, Payment Adviser Service, and Bill Exchange Service. The company's only operating segment is engaged in the provision of services that enable its customers to meet their regulatory compliance across the hire-to-retire life cycle. It does that by facilitating the transfer of data and payments between regulated authorities and participants of the ecosystem (HR/payrolls, Accountants, Banks, APRA, SMSF Funds, and federal departments like the ATO). It operates in the one geographical segment of Australia. | $0 | +7% | $131M | $120M | 17.3x | 2321.5x | ||
| EML Payments is a financial technology company that operates across North America, Europe, and Australia. The firm builds the infrastructure for a customer to facilitate/accept payments via a prepaid card or in real-time. It makes money primarily via clipping a fee on payment transactions. It also earns fees from breakage, inactive accounts, cash establishments and interest on debit volumes. EML’s payment solutions cater to a variety of applications including payouts, gifts, incentives, rewards, supplier payments, and more. The firm operates across three product offerings: gift and incentive cards, general purpose reloadable cards, and digital payments. | $0 | -67% | $107M | ($1B) | (8.6x) | (32.3x) | ||
| Payment Financial Technologies Ltd owns the PaymenT brand which is a payment platform. It is a means of payment that allows businesses to offer financing to their customers easily, quickly, and conveniently and receive immediate payment for the products and services sold. | $2 | -- | $92M | $118M | - | - | ||
| Robot Payment Inc is engaged in the provision of online payment gateway services as well as cloud services that optimize or automate billing-related operations. It offers Subscription Pay, Subscription Pay Professional, 1click Pay Later, and 1click Hayamaru in the payment business, and Billing Management Robo, Billing Management Robo for Enterprise, and Factoring Robo for SaaS, etc., in the financial cloud business, solving the problems of companies. The company's reportable segments are Payment and Financial Cloud. The majority of its revenue is generated from the Payment segment, which predominantly represents its Subscription Pay offering, which provides a system to make payments via the internet and also performs other functions such as customer management and regular billing. | $15 | -- | $56M | $32M | 1.5x | 5.5x | ||
| FingerMotion Inc is engaged in the provision of mobile payment and recharge services in the Chinese market. The company's business line includes Telecommunications Products and Services, Value Added Products and Services, Short Message Services (SMS) and Multimedia Messaging Services (MMS); a Rich Communication Services (RCS) platform; Data Insights; and a Video Games Division (inactive). It principally earns revenue by providing mobile payment and recharge services to customers of telecommunications companies in China. | $1 | -59% | $49M | $50M | 2.1x | (7.6x) | ||
| Usio Inc is a United States-based company that provides integrated electronic payment services, including credit and debit card-based processing services and transaction processing via the Automated Clearing House, or ACH network to billers and retailers. The Company also has an additional wholly-owned subsidiary, which is the entity for Output Solutions operations. | $2 | +1% | $43M | $40M | 0.5x | 30.0x | ||
| Findi Ltd is a fintech company that operates as a non-bank ATM. It provides payment solutions, electronic surveillance, and managed services in rural and regional India. | $0 | -88% | $36M | $116M | 2.7x | 5.5x | ||
 | M2M Group SA is a provider of processing solutions, securities management and secure electronic services. The company helps banks, governments, transport operators, universities and businesses to accelerate its digital transformation and offer its customers digital services that combine innovation, conviviality and trusted products. | $44 | -- | $28M | $28M | - | - | ||
| Prelude SA is a france based real-estate company specialising in the development and management of social and affordable housing projects, and other residential programs. | $13 | -- | $26M | $26M | 4.2x | 44.6x | ||
 | NamSys Inc offers software solutions for currency management and processing for the banking and merchant industries principally in North America. The company generates its revenue in the form of software license fees, maintenance, and professional services. The majority of the revenue is generated from the United States and the rest from Mexico, Puerto Rico, Dominican Republic, Canada and other regions. | $1 | -26% | $24M | $16M | 2.8x | 6.9x | ||
 | Crunchfish AB is a technical pioneer in digital payment with a patent-pending Digital Cash solution that uses a two-step payment process, first clearing offline followed by online settlement. This makes digital payment robust and independent of the network. Crunchfish digital cash wallet is exceptionally flexible and can be used with all types of payment solutions. It delivers the properties of cash, such as immediate clearing, offline payments and preservation of the payer's integrity, without requiring any changes to the central or commercial banking infrastructures. The company has also developed Blippit, an app terminal that connects to cash register systems for both online and offline payments and has a patent-pending solution to reduce food waste. | $0 | -33% | $24M | $23M | 294.9x | (11.9x) | ||
| Ovanti Ltd is an Australian firm engaged in providing fintech and digital commerce software solutions, empowering institutional clients to securely and efficiently authenticate end-user customers while seamlessly managing banking, purchasing and payment transactions. The company serves banks, insurers, telcos, and corporates in Malaysia and Indonesia through specialized divisions for Mobile Banking, Digital Payments and Digital Services. | $0 | -- | $23M | $20M | 4.8x | (3.0x) | ||
| Societe Maghrebine de Monetique SA offers services covering all needs in the field of electronic banking. The company provides wide range of products and services to the requests of its customers, that includes electronic payment solutions, smart card applications, e-commerce solutions, TPE, outsourcing, personalization of means of payment. | -- | -- | $16M | $16M | - | - | ||
| Bitcoin Depot Inc owns and operates the widest network of BTMs across North America where customers can buy and sell Bitcoin. Bitcoin Depot helps power the digital economy for users of cash. It has locations across the U.S. and Canada at, among others, the following types of retailers: Convenience Stores and Gas Station Chains, Pharmacies and Grocers and Mall Operators. | $0 | -99% | $6M | $5M | - | - | ||
| Accelerated Technologies Holding Corp is a full-service end-to-end business solution and Technology Company that specializes in cloud based disruptive technologies. The company provides consulting and enterprise level technology services. | -- | -- | $1K | $1K | - | - | ||
| Median | $8 | -23% | $816M | $807M | 2.4x | 7.8x |
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