Aggregator

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Definition

An Aggregator is a Payment Service provider through which e-commerce merchants can process their payment transactions.

An aggregator allows merchants to accept different payment instruments such as Credit Card, bank transfers, e-money without having to setup a merchant account with a bank, card association etc. The aggregator provides the means for facilitating payment from the consumer to the merchant.^[1]

References

↑ Committee on Payment and Settlement Systems, A glossary of terms used in payments and settlement systems

[1] Committee on Payment and Settlement Systems, A glossary of terms used in payments and settlement systems

[1]