Square’s deep bench of partners offers SMBs more integrated tools to push their businesses forward.

Payment processing solutions from major US digital commerce platforms are maturing and capturing a greater share of their retail ecommerce sales. Here’s how five platforms are approaching the payment facilitator (payfac) model to catapult their growth.

Retailers are prioritizing unified commerce solutions to help gain a complete picture of their business operations—including consumer behavior. As the tech landscape becomes more complex, key players are emerging across channels.

Digital commerce platforms will process $375.57 billion in customer payments in 2024.

US digital commerce platforms will process $471.37 billion of their own payments by 2026. As a result, they’ll enjoy stronger customer relationships, added revenues, and cross-sell synergy.

Acquirers, networks, and issuers each play distinct roles in the payments purchasing chain. But those roles are shifting as providers adapt to the rise of software and value-added services, increased payment method choice, and cloud-based innovation.

Digital commerce platforms are leaning heavily into payment processing to grow revenues and enhance customer engagement. But it’s still early innings: They are ripe for payment provider partnerships that can evolve as the platforms grow.

For Wix, consolidating its marketing stack not only improves internal alignment but also results in an improved customer experience. The website-building company operates with teams worldwide, and is currently scaling down from about seven different marketing automation platforms.

Wix’s merchants can benefit from stronger fraud detection capabilities as card-not-present fraud risks increase.

As online shopping continues to increase, gross payment volume (GPV) across digital commerce platforms in the US is expected to grow by 26.4% to reach $275.2 billion this year.

Digital commerce platforms help merchants of all sizes sell online, making them an increasingly big factor in ecommerce payments. This creates new opportunities for processors, gateways, and other payments stakeholders to reach merchants—but also complicates their relationship.