Transaction Processing & Settlement Industry Overview

Companies that provide services and technology related to processing and settling check, debit card, and credit card transactions; and billing, card issuance, and transaction management.

Full Transaction Processing & Settlement Industry Description

Historically Paper-Based Transactions Becoming Electronic-Based

Areas historically dominated by paper-based financial transactions, such as fast food restaurants, government, business-to-business, and professional services such as electricians and plumbers, are beginning to accept credit cards. McDonald’s, Wendy’s, Burger King, Taco Bell, and Sonic now all accept credit cards due to popular demand and reduced cost. Burger King and McDonald's find that credit card transactions are larger than cash purchases.

Full Transaction Processing & Settlement Industry Trends

• Chase Paymentech Solutions, LLC
• Elavon, Inc.
• Electronic Clearing House, Inc.

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Hoover's has developed its own industry classifications to better serve its customers. These classifications are mapped to the North American Industry Classification System (NAICS) and the older U.S. Standard Industrial Classification (SIC) system. The Transaction Processing & Settlement maps to a number of NAICS codes including:

Full Transaction Processing & Settlement Industry Codes

• Financial Services Technology Consortium
  
• Investment Company Institute
  
• The Association of Private Client Investment Managers and Stockbrokers
  

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