Aggregator: Difference between revisions
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''Payment systems'' | 1. ''Payment systems''. | ||
An aggregator is one of a number of online payment service providers (PSPs) that enable e-commerce merchants to accept payments on the merchant's own website. | An aggregator is one of a number of online payment service providers (PSPs) that enable e-commerce merchants to accept payments on the merchant's own website. | ||
Aggregators allow merchants to accept credit card and debit card transfers without having to set up a merchant account with each card association or bank. Instead, the aggregator takes the payments from the different card associations and banks, remitting a total to the merchant, net of the aggregator's charges. | Aggregators allow merchants to accept credit card and debit card transfers without having to set up a merchant account with each card association or bank. | ||
Instead, the aggregator takes the payments from the different card associations and banks, remitting a total to the merchant, net of the aggregator's charges. | |||
2. | |||
More generally, any structure or intermediary that combines smaller individual transactions or amounts, into larger combined transactions or amounts. | |||
Revision as of 14:55, 15 January 2018
1. Payment systems.
An aggregator is one of a number of online payment service providers (PSPs) that enable e-commerce merchants to accept payments on the merchant's own website.
Aggregators allow merchants to accept credit card and debit card transfers without having to set up a merchant account with each card association or bank.
Instead, the aggregator takes the payments from the different card associations and banks, remitting a total to the merchant, net of the aggregator's charges.
2.
More generally, any structure or intermediary that combines smaller individual transactions or amounts, into larger combined transactions or amounts.
