September 29, 2022

primariasabiertas

All The Technology

What Is a Payment Aggregator? Merchant Aggregator Benefits

Payment facilitator VS. aggregator: a cheat sheet of differences,  similarities, and benefits – PayCore.io

 

eCommerce worldwide is anticipated to rise at a 14.7% CAGR from 2020 to 2027, based on a study by Grand View Research, Inc. Payment-processing solutions such as a payment aggregator are growing in importance. So, what is payment aggregation? How do some companies use a payment or merchant aggregator to simplify their merchant processing significantly?

 

What Is a Payment Aggregator?

A payment aggregator is also called a merchant aggregator. This is a business model. In this case, a third-party payment provider signs up merchants right under its own merchant identification number (MID) so transactions can be processed via a single master account.

 

Did you know that by 2040, 95% of all global purchases are forecast to be completed through eCommerce? It’s increasingly more vital to be able to work out the easiest way to accept money from your customers. You can do this by working with a reputable payment processor. 

 

To find one, just turn to a payment-comparison expert that reviews terms, rates, and integration of processors to ensure you can come with the best solution for your business. A respectable merchant-services comparison company can help you with not only a payment aggregator but with any other payment-processing service. 

 

Benefits of a Merchant Aggregator

After you’ve gained a clearer picture of what a merchant aggregator is, it’s time to go through the advantages offered by this payment service provider. 

 

  • A merchant aggregator is especially beneficial to small businesses not processing low large volumes of transactions. By using a merchant aggregator as a third-party service, you can better manage and process your online transactions. 

 

  • This is an easy and low-cost method of accepting payments that can help you move your business to the next level more quickly. You don’t need to wait days or months to start processing transactions. 

 

  • A merchant aggregator facilitates the process of accepting payments from your consumers through credit cards, bank transfers, or stored value accounts. 

 

Payment Aggregator and Its Benefits 

Think of a merchant aggregator as a payment service provider enabling merchants to accept debit/credit card eCommerce payments without the need to visit a bank. Work with a respected merchant services provider and enjoy the benefits offered by a merchant aggregator. 

 

Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of a payment aggregator. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie with ice-cream on his backyard porch, as should all right-thinking people.