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Brief Excerpt from Industry Overview Chapter:
Companies in this industry provide services such as credit card processing, electronic funds transfer, and check clearing. Major companies include Bread Financial, Fiserv, Heartland Payment Systems, Mastercard, Visa, and Western Union (all based in the US), as well as Cielo (Brazil), Moneris (Canada), and UnionPay International (China).
Worldwide, many large credit card processors operate and maintain processing centers globally. According to the Nilson Report, Asia/Pacific region has the most purchase transactions in 2023, followed by Middle East and Africa, and Latin America.
The US financial transaction processing industry includes more than 4,300 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $80 billion.