Fintech as a Service (FaaS) Market

Top Fintech as a Service Companies - PayPal (US) and Rapyd (UK) | MarketsandMarkets

The global FaaS market size is projected to grow from USD 310.5 billion in 2023 to USD 676.9 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 16.9% during the forecast period. The expansion of the FaaS market is propelled by the increasing need for cloud computing technology enabling flexibility and scalability in operations.

Driving innovation of AI and Blockchain has also played a significant role in driving the adoption of FaaS as businesses strive to meet security requirements and protect sensitive data. Additionally, integrating FaaS into legacy or new systems through API is considered an emerging megatrend in the FaaS market. It enables seamless communication and interaction between FaaS solutions and end-user systems by providing a standardized way to exchange data and execute functions. Together, these factors form a powerful force behind the growth and advancement of the FaaS market.

Top Fintech as a Service Companies include

  • PayPal (US)
  • Mastercard (US)
  • Fiserv (US)
  • Rapyd (UK)
  • Block (US) and many more....

To know about the assumptions considered for the study download the pdf brochure

Competitive overview:

Partnerships, agreements, collaborations, acquisitions, and product developments are some of the various growth strategies by these players to increase their market presence.

PayPal (US) is a prominent, recognized digital payment platform that provides online payment solutions to individuals and businesses worldwide. The company's profitability is closely tied to its ability to attract and retain many users and merchants. The company operates through two major business segments: transaction revenues and revenues from other value-added services. PayPal offers FaaS solutions and payment processing services, allowing businesses to accept payments online or in person. PayPal Venmo is a mobile payment that enables users to make payments and transfer money directly from their mobile devices.

Mastercard (US) is one of the key providers of FaaS solutions that provides a wide range of payment solutions to businesses and consumers worldwide. Mastercard's business model is based on delivering secure, convenient, and reliable payment solutions that enable businesses and consumers to transact seamlessly across different platforms and channels. In the FaaS market, it offers Mastercard Smart Data, a comprehensive spend management tool that provides businesses a streamlined and efficient way to manage their expenses. Mastercard Payment Gateway is a secure and reliable platform enabling businesses to accept payments from customers across a wide range of channels and devices.

Mastercard also offers a range of value-added services to businesses, such as data analytics, loyalty programs, and business intelligence tools. These services help companies to optimize their operations, gain insights into customer behavior, and create more personalized and engaging customer experiences. The company has a large customer base across North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Fiserv (US) offers a wide range of software, hardware, and professional services to banks, credit unions, investment firms, and other financial institutions. Fiserv's solutions are designed to help these institutions improve operational efficiency, reduce costs, and enhance customer experience. Fiserv operates in four primary segments: Payments, Acceptance, Fintech, and Corporate, among others. Fiserv offers a comprehensive suite of solutions for the FaaS market. This includes payment processing, digital banking, fraud detection, prevention, and data analytics solutions. Authhub by Fiserv is a multi-factor authentication solution designed to help financial institutions and other organizations enhance the security of their digital channels and protect their customers' sensitive data. Fiserv also offers a Payment card management solution called Cardhub. It is designed to help financial institutions and other organizations simplify and streamline their card management processes, improve operational efficiency, and enhance the customer experience.

Rapyd (UK) is a prominent player in the Fintech as a Service Market, offering a comprehensive platform that enables businesses to integrate and manage various financial services seamlessly. Rapyd's solutions encompass payments, e-commerce, financial services, and fintech applications, allowing companies to accept payments, issue cards, disburse funds, and manage compliance across multiple markets globally. Their platform supports over 900 payment methods in more than 100 countries, providing extensive reach and flexibility. By leveraging Rapyd's robust infrastructure and APIs, businesses can streamline their financial operations and enhance their customer experiences, driving growth and innovation in the digital economy.

Block (US) formerly known as Square, is a key player in the Fintech as a Service Market, providing a suite of integrated financial services designed to empower businesses and individuals. Block's ecosystem includes payment processing solutions, point-of-sale systems, and business management tools that cater to small and medium-sized enterprises. Additionally, Block offers Cash App, a popular mobile application for peer-to-peer payments, banking services, and investments. Their comprehensive fintech platform enables seamless financial transactions, supports e-commerce activities, and offers tools for financial planning and growth, making it a significant contributor to the evolution of digital finance.

Related Reports:

Fintech as a Service (FaaS) Market by Type (Banking, Payment, Insurance, Investment), Technology (AI, Blockchain, RPA, API), Application (Fraud Monitoring, KYC Verification, Compliance & Regulatory Support), End User & Region - Global Forecast to 2028

Fintech as a Service (FaaS) Market Size,  Share & Growth Report
Report Code
TC 8680
RI Published ON
Choose License Type

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved Protection Status