Global revenue from omnichannel payment platforms will almost double over the next five years, exceeding $100 billion by 2031 as merchants invest in unified payment systems, according to new data from Juniper Research.

The advisory firm said that revenue will rise from $56 billion in 2026 to $108 billion in 2031, representing growth of 57 per cent. It added the expansion will be driven by businesses adopting omnichannel payment platforms to simplify operations and manage payments across multiple sales channels through a single system.

According to the report, merchants are increasingly looking for platforms that integrate with third-party business applications, including enterprise resource planning (ERP) software, to improve efficiency and reduce the operational burden of managing payments.

Juniper Research said that payment providers must prioritise integrations that deliver value to merchants in specific markets rather than taking a one-size-fits-all approach.

The research also highlighted the growing importance of payment data, with platforms using transaction information to support additional merchant services beyond payment processing.

Alongside the market forecast, Juniper Research published a leaderboard ranking the world's leading omnichannel payment platforms based on factors including channel coverage, feature set and future business prospects.

Stripe topped the rankings, followed by Worldpay, PayPal, Square and Adyen.

The report suggests that vendors offering broad payment channel support alongside advanced data capabilities will be best placed to capitalise on rising merchant demand as organisations seek to modernise their payment infrastructure.

Michael Greenwood, research author at Juniper Research, said: “Payment data is evolving from an operational by-product into a source of value. It will lay the groundwork for more sophisticated merchant services including AI-powered analytics, loyalty programmes, and personalisation. The leading platforms recognise this, and are already delivering data-driven value to their clients.”

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