STICPAY, a leading global e-wallet service provider and payment gateway, today announces the integration of Visa and Mastercard debit and credit card payment processing into its platform, affording it’s more than 5,000 merchant and corporate clients greater flexibility and convenience in handling payments.

The new service enables merchants who don’t have the infrastructure to process Visa and Mastercard payments on their website to now do so, simply by integrating the STICPAY API. Merchants will be able to process Visa and Mastercard payments seamlessly alongside existing payment methods, such as local bank wire, crypto payment and other APM - including STICPAY’s e-wallet, which is used by over a million customers in more than 200 countries.

Despite the rise of alternative payment methods, the global credit card market is forecast to grow at a CAGR of 7.45% from 2023 to 2033, while debit cards are set to grow at 1.4%. In total over 724 billion credit card and 266 billion debit card transactions took place in 2023.

Sean Park, STICPAY CEO, said: “A huge number of merchants want to process online card payments but lack the infrastructure to do so - meaning they lose out on business and customers are left frustrated. By integrating debit and credit card payment processing into the STICPAY API, we are ensuring greater payment accessibility, in turn driving greater merchant revenues and growth.”