The world has been shifting toward digital payments for years, and the trend took off during the pandemic when contactless payments became the standard.

According to Grand View Research, the global digital payment market is expected to grow at 20% annually through 2030. Visa (NYSE: V), American Express (NYSE: AXP), and PayPal (NASDAQ: PYPL) are three payment companies that stand to benefit from these long-term trends. Here's why they are solid stocks to buy in October.

When it comes to processing payments, nobody does it on the scale that Visa does. In 2021, Visa had $10.9 trillion in total payment volume and 3.9 billion cards in circulation. Its payments volume is nearly twice as much as the second-place competitor, Mastercard. 

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Source Fool.com