Stripe’s main competitors are PayPal (including Braintree), Adyen, Block’s Square and large merchant acquirers such as Worldpay, now owned by Global Payments, plus bank-owned gateways such as Authorize.Net (Visa) and J.P. Morgan’s payments business. They fight for the same thing: the right to process a business’s payments and sell software around them. Stripe says businesses on it generated $1.9 trillion in total volume in 2025, which puts it in the same league as PayPal’s $1.79 trillion of total payment volume in 2025.
Processors earn a fee on each payment, so scale matters: Stripe reports total volume, PayPal reports total payment volume (TPV), Adyen reports processed volume and Square reports gross payment volume (GPV).
02
Developers versus brands
Stripe and Adyen win on APIs and one global platform; PayPal brings a consumer wallet with 440 million active accounts at 30 September 2026; Square brings point-of-sale hardware and software for small sellers.
03
Software on top of payments
All of them add billing, lending, fraud tools and banking-like features, because software and financial services earn more than a thin per-payment fee.
04
Distribution through partners
Commerce platforms such as Shopify, WooCommerce and BigCommerce sit between merchants and processors, so winning a platform can bring thousands of merchants at once.
What changed in 2025-26
Adyen grows fastest of the listed rivals
Adyen’s processed volume was โฌ451.1 billion in the third quarter of 2026, up 30% year on year, with net revenue of โฌ738.1 million, up 23%. Its Platforms business, closest to Stripe Connect, grew net revenue 46%.
PayPal resets under a new CEO
PayPal’s total payment volume rose 6% to $487.1 billion in the quarter to 30 September 2026, and net revenues rose 2% to $8.6 billion. Enrique Lores now leads the company as President and CEO through what it calls a multi-year transformation.
Worldpay changes hands
Global Payments said in February 2026 that it had completed its acquisition of Worldpay and the sale of its Issuer Solutions business, creating a larger merchant-focused rival in enterprise processing.
The race to agent checkout
Stripe co-developed the Agentic Commerce Protocol with OpenAI and launched Instant Checkout in ChatGPT with it in September 2025. PayPal’s 2025 annual report lists agentic commerce among its new areas of growth.
Stripe and its main rivals by volume
Stripe
StrengthDeveloper APIs, one global platform, software suite
Latest reported volume$1.9 trillion total volume in 2025, up 34%
Latest reported volume$487.1 billion TPV, quarter to 30 September 2026, up 6%
Adyen
StrengthEnterprise and unified online and in-store payments
Latest reported volumeโฌ451.1 billion processed, third quarter 2026, up 30%
Square (Block)
StrengthPoint-of-sale for small and mid-sized sellers
Latest reported volume$76.4 billion GPV, third quarter 2026, up 14%
Worldpay (Global Payments)
StrengthLarge merchant acquiring
Latest reported volumeAcquisition by Global Payments completed, reported February 2026
What it means for you
For merchants: compare total cost, not list price; ask each processor for authorisation rates and fees on your own card mix.
For platforms: test Stripe Connect against Adyen for Platforms and PayPal's Braintree before you lock in a payouts provider.
For small sellers: if most sales are in person, Square's hardware and software bundle may beat an online-first processor.
For investors: track volume growth each quarter; in the third quarter of 2026 Adyen grew 30% while PayPal grew 6%.
For AI builders: support agent checkout early; Stripe and PayPal are both building payment flows for AI assistants.
The Business Engineer lens
Payments is a scale business with thin per-transaction fees, so the winners are the processors that add the most software on top of each payment. The Business Engineer view is that AI agents are the next distribution shift: the processor that agents use by default will gain volume the way Stripe gained it from developers.
PayPal (with Braintree), Adyen, Block's Square and Worldpay, now part of Global Payments, plus bank-owned gateways such as Visa's Authorize.Net.
Is Stripe bigger than PayPal?
By volume they are close: Stripe reported $1.9 trillion of total volume in 2025 and PayPal reported $1.79 trillion of total payment volume in 2025. The two companies define volume differently.
How is Adyen different from Stripe?
Adyen focuses on large enterprises and unified online and in-store payments; Stripe started with developers and startups and now serves both. Adyen's processed volume grew 30% in the third quarter of 2026.
Who owns Worldpay now?
Global Payments said in February 2026 that it had completed its acquisition of Worldpay.
The complete explainer, cleaned up and reformatted for mobile.
Stripe competitors includes prominent players in the payment processing and e-commerce industries. PayPal, Square, Adyen, and Braintree are among the key competitors offering diverse payment solutions. Additionally, Shopify, WooCommerce, BigCommerce, and Squarespace are popular e-commerce platforms providing businesses with online selling capabilities.
PayPal
DescriptionA widely recognized online payment platform that allows users to make payments and money transfers over the internet. PayPal competes with Stripe in the online payment processing and merchant services market.
Key InsightsPayPal provides online payment processing and merchant services, directly competing with Stripe in segments like online payments, checkout solutions, and payment gateways, targeting businesses and individual users.
Competitive OverlapBoth compete in the online payment processing market, offering a range of payment solutions and tools for businesses and consumers.
DifferentiationPayPal’s strong brand recognition and global presence.
Square
DescriptionA financial services and mobile payment company known for its point-of-sale hardware and software solutions. Square competes with Stripe in the payment processing and merchant services sector, particularly in point-of-sale and e-commerce solutions.
Key InsightsSquare offers payment processing, point-of-sale systems, and e-commerce solutions, directly competing with Stripe in segments like online payments and merchant services, targeting businesses of all sizes.
Competitive OverlapBoth compete in the payment processing and merchant services market, focusing on tools for accepting payments in various environments, including in-store and online.
DifferentiationSquare’s emphasis on in-person payment solutions and hardware.
Adyen
DescriptionA global payment company that provides businesses with a single platform for accepting payments online, in-store, and on mobile devices. Adyen competes with Stripe in the online payment processing and global payment solutions market.
Key InsightsAdyen offers online payment processing and global payment solutions, directly competing with Stripe in segments like online payments, international payments, and payment optimization, targeting global businesses.
Competitive OverlapBoth compete in the online payment processing market, with Adyen’s focus on providing a single platform for global payments and optimizing transaction flows.
DifferentiationAdyen’s strength in global payment capabilities and cross-border transactions.
Braintree (a PayPal company)
DescriptionA full-stack payment platform that offers payment processing, merchant tools, and fraud protection. Braintree, owned by PayPal, competes with Stripe in the online payment processing and developer-friendly payment solutions market.
Key InsightsBraintree provides online payment processing and developer-friendly tools, competing with Stripe in segments like online payments and subscription billing, targeting businesses and developers.
Competitive OverlapBoth compete in the online payment processing market, offering solutions for accepting online payments and managing subscriptions, with Braintree’s focus on developer integration.
DifferentiationBraintree’s developer-centric approach and partnership with PayPal.
Authorize.Net (a Visa company)
DescriptionA payment gateway and merchant account services provider that enables businesses to accept credit card payments. Authorize.Net, owned by Visa, competes with Stripe in the online payment gateway and merchant services market.
Key InsightsAuthorize.Net offers payment gateway and merchant services, directly competing with Stripe in segments like online payment processing and payment gateways, targeting businesses of all sizes.
Competitive OverlapBoth compete in the online payment processing market, providing payment gateway solutions for securely accepting online payments.
DifferentiationAuthorize.Net’s association with Visa and long-standing presence in the payment processing industry.
WePay (a JPMorgan Chase company)
DescriptionA payment processing company that provides payment APIs and services for online platforms and marketplaces. WePay, owned by JPMorgan Chase, competes with Stripe in the online payment processing and platform payments market.
Key InsightsWePay offers payment processing and platform payment solutions, directly competing with Stripe in segments like online payments for platforms and marketplaces, targeting businesses that facilitate transactions between multiple parties.
Competitive OverlapBoth compete in the online payment processing market, with WePay’s focus on serving platform businesses and marketplaces, offering payment APIs and services for their unique needs.
DifferentiationWePay’s backing by JPMorgan Chase and specialization in platform payments.
Worldpay (Global Payments)
DescriptionA global payment technology company that provides payment processing solutions, including card payment processing and e-commerce solutions. Worldpay, whose acquisition by Global Payments was completed by February 2026, competes with Stripe in the payment processing and e-commerce market.
Key InsightsWorldpay offers payment processing and e-commerce solutions, directly competing with Stripe in segments like online payments and e-commerce checkout solutions, targeting businesses and online retailers.
Competitive OverlapBoth compete in the payment processing and e-commerce market, offering tools and solutions for businesses to accept payments and optimize online transactions.
DescriptionAn online payment service provider that offers digital wallet and money transfer services. Skrill, part of the Paysafe Group, competes with Stripe in the digital wallet and online payment processing market.
Key InsightsSkrill provides digital wallet and online payment services, indirectly competing with Stripe in segments like online payments and digital wallets, targeting consumers and businesses looking for online money transfer solutions.
Competitive OverlapWhile not a direct competitor, Skrill operates in the digital wallet and online payment space, offering users a way to make online transactions and transfers.
DifferentiationSkrill’s focus on digital wallets and money transfer services.
2Checkout (Verifone)
DescriptionAn online payment processing platform that offers payment solutions for e-commerce businesses. 2Checkout, part of Verifone, competes with Stripe in the online payment processing and e-commerce checkout solutions market.
Key Insights2Checkout offers online payment processing and e-commerce checkout solutions, indirectly competing with Stripe in segments like online payments and subscription billing, targeting e-commerce businesses.
Competitive OverlapWhile not a direct competitor, 2Checkout operates in the online payment processing and e-commerce checkout space, providing businesses with tools to accept online payments and manage subscriptions.
Differentiation2Checkout’s focus on e-commerce payment processing solutions.
Payment Processing Companies
PayPal: A leading online payments platform that enables digital and mobile payments.
Square: A company providing payment and point-of-sale solutions for businesses.
Adyen: A global payment company offering omnichannel payment solutions.
Braintree: A division of PayPal providing online and mobile payment services.
E-commerce Platforms
Shopify: An e-commerce platform that allows businesses to sell products online.
WooCommerce: An open-source e-commerce plugin for WordPress.
BigCommerce: An e-commerce platform for businesses of all sizes.
Squarespace: A website building and e-commerce platform.
Key Highlights
Competition in Payment Processing: Stripe faces strong competition from notable players in the payment processing industry. Competitors like PayPal, Square, Adyen, and Braintree offer a range of payment solutions for businesses, highlighting the need for Stripe to continually innovate and provide value-added services.
PayPal: As a leader in online payments, PayPal’s global reach and diverse payment options make it a significant rival. Its established user base and familiarity among consumers and businesses present a challenge for Stripe.
Square: With a focus on point-of-sale and mobile payment solutions, Square’s hardware and software offerings cater to various business sizes. Its ease of use and comprehensive solutions pose competition in the payments space.
Adyen: A global payment company with omnichannel capabilities, Adyen offers integrated payment solutions across different platforms and regions, making it a strong competitor for Stripe’s international reach.
Braintree: As a division of PayPal, Braintree specializes in online and mobile payments. Its technology and integrations can be appealing to businesses seeking seamless payment solutions.
E-commerce Platform Competition: Stripe also competes indirectly with e-commerce platforms that offer integrated payment processing. Shopify, WooCommerce, BigCommerce, and Squarespace provide businesses with the tools to set up online stores, including payment processing capabilities.
Shopify: A comprehensive e-commerce platform that caters to businesses of various sizes, Shopify’s extensive ecosystem and customization options are noteworthy competitive advantages.
WooCommerce: As an open-source plugin for WordPress, WooCommerce enables businesses to transform their websites into online stores. Its popularity within the WordPress community is a factor to consider.
BigCommerce: Positioned as a versatile e-commerce platform, BigCommerce offers scalability and customization options for businesses aiming to grow their online presence.
Squarespace: Squarespace’s combination of website building and e-commerce functionality makes it a competitor for businesses seeking an all-in-one solution for their online presence.
Innovation and Integrations: To remain competitive, Stripe should focus on continuous innovation, enhancing its API capabilities, and forming strategic partnerships to provide businesses with a wide range of integrated solutions.
Global Expansion: As a global player, Stripe’s ability to expand its services into new regions and adapt to local market nuances will influence its competitiveness against both payment processors and e-commerce platforms.
Security and Compliance: In a world where data security and compliance are paramount, Stripe must maintain a strong commitment to these aspects to instill trust among businesses and consumers.
User Experience: Providing a seamless and user-friendly experience for both businesses and customers will differentiate Stripe from competitors in the competitive payment processing and e-commerce landscape.
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur (for example, How to Digitize a Family Business in Europe) and HackerNoon. Find him on LinkedIn and Substack. See how we source.
