JP Morgan Payments has earned the top spot in the U.S. among payment providers in terms of both annual transactions and dollar volume, according to the March 2022 Nilson Report. Moreover, the US giant has also been ranked #1 in the Top Merchant Acquirer List.

In 2021, J.P. Morgan Payments processed more than 31 billion transactions on behalf of its clients, an additional four billion compared to the previous year. With a value of $1.7 trillion, J.P. Morgan also led the rankings by purchase volume.

J.P. Morgan Payments, Worldpay from FIS, Fiserv, Global Payments, and Wells Fargo were the five largest merchant acquirers based on combined global brand and domestic-only card purchase transactions at U.S. merchants, which are payments made for goods and services, in 2021.

Purchase transactions processed by the five largest totaled $110.01 billion in 2021. This was an increase of 8.9% over 2020.

The acquirers ranked 6th through 10th largest based on combined global brand and domestic-only brand card purchase transactions at U.S. merchants were Bank of America, Elavon, Paysafe, Merrick Bank, and North American Bancard. That group processed $14.05 billion in purchase transactions, an increase of 14.0% over the acquirers ranked 6 through 10 largest in 2020. Merrick Bank moved into the top 10 in 2021.

In addition to earning the top spot overall, J.P. Morgan Payments maintained a significant lead as the top acquirer for e-commerce in the U.S. Overall, the total card-not-present volume for the industry showed an 11.5% year on year increase as online shopping came to the fore.