MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--TabaPay, the leading instant money movement platform, announced today that it's the 6th largest card-not-present (CNP) acquirer based on total purchase transactions and 5th by dollar volume. TabaPay was also recognized as the 20th largest merchant acquirer in the U.S. based on Visa and Mastercard volume. This Nilson Report ranking is based on data from 2022.
The report also recognized TabaPay as:
- One of 11 merchant acquirers with an increase of over 25% in other credit card purchase volume outside of Mastercard and Visa networks in 2022.
- One of 15 merchant acquirers with an increase of over 17% in Mastercard and Visa volume.
- One of 19 merchant acquirers with an increase of over 13% in PIN-based debit card purchase volume in 2022.
The report includes data from the 63 largest portfolios of payment card acceptance contracts with U.S. merchants in 2022. They acquired transactions from American Express, Discover, Diners Club, JCB, Mastercard, Visa, and UnionPay credit, debit, and prepaid cards, as well as domestic-only debit brands led by Interlink, Star, Nyce, Pulse, and Accel. These acquirers also settled transactions on behalf of payment facilitators and aggregators, in addition to more than 1,000 independent sales organizations.
TabaPay moved up a spot as a CNP acquirer and five spots as a merchant acquirer, from Nilson Report’s previous annual rankings. TabaPay attributes the growth to the industry’s shift towards real-time payments and emergence of new fintech models. Since inception, the company has processed over 600 million transactions totaling more than $60 billion and has become a top 3 enabler of Visa Direct, Mastercard Send, and The Clearing House’s RTP network. TabaPay also recently partnered with Visa to help launch its Visa+ service, making digital peer-to-peer (P2P) payments interoperable.
“We remain committed to removing friction from payments and making money movement easier across the industry,” said Rodney Robinson, CEO and co-founder of TabaPay. “We are seeing tremendous growth in transaction volumes as evidenced by TabaPay moving up in the Nilson Report annual rankings. We are on a trajectory to continue growing our leadership in the market.”
TabaPay is the leading money movement platform, transforming the payments landscape for Fintechs and financial institutions with secure, reliable, and lower-cost instant payments. We provide direct access to 15 banking partners and 14 networks along with innovative products and features in one unified API. TabaPay processes over 1 million transactions daily on behalf of more than 2,500 clients in the U.S. and Canada. For more information, visit tabapay.com and follow us on LinkedIn.