Mercifully, the days when “uptime” was a differentiating feature of payment gateway or processor capabilities are behind us. So what differentiates merchant payment providers (MPPs, also referred to in the market as payment service providers [PSPs]) today? That’s what Forrester Wave™ evaluations are good at bringing to light. Here are three takeaways from our just-published report, The Forrester Wave™: Merchant Payment Providers, Q1 2026:

  • Recent leadership or ownership changes mean shifts ahead for merchants. The pressure is high for many of these vendors to grow profits. The problem is that card acquiring is a famously razor-thin margin business, one that merchants are often cost-sensitive about. Merchants, especially those with renewals this year, will likely see changes from the impacted vendors in pricing and packaging (including an emphasis on value-added services), account management, and, potentially, the company’s strategic direction that will move it closer to — or further from — alignment with the merchant’s business.
  • Pace, not capabilities, mainly differentiates MPPs: Find your right match. We found that the vendors’ pacing varies dramatically in their adoption of, or adaptation to, ongoing industry innovation and regulatory changes or mandates. Some providers move fast and experiment aggressively. Others take a more deliberate, risk-managed approach. As such, merchants should either culture-match or plan to work within their MPP’s value set.
  • Find the right vendors for you: Innovation pace, performance, and partnership tip the scales. In this mature, highly competitive market, classic selection criteria still matter: payment methods, countries, use cases, settlement options, etc. But the challenge is that many vendors clear those bars. When shortlists are still too long, the differentiation shows up elsewhere: speed and consistency of innovation, dynamics and emphasis on payment performance optimization, or the availability and quality of connection between your team and the provider’s product teams — and other merchants — for learning and idea sharing.

In short, this Wave reinforces that payments is no longer about finding a capable provider, it’s about finding the right one for how your business plans to grow and innovate.

For more specific support and advice as you choose your next payment partner or evaluate your current one, Forrester clients can reach out to me and book a guidance session. We will dig into the Wave results and figure out where you stand to gain the most.