What is a merchant aggregator?

A merchant aggregator, payment aggregator, or simply aggregator is a service provider that allows merchants to accept payments without having to set up a merchant account. Well-known aggregators are Square, Stripe, and PayPal.

What does merchant of record mean?

A merchant of record (MoR) is the entity that is authorized, and held liable, by a financial institution to process a consumer’s credit and debit card transactions. The merchant of record is responsible for maintaining a merchant account, processing all payments, and managing all credit card processing fees.

What is the difference between seller of record and merchant of record?

Sellers are the sub-merchant of record. This means that sellers are responsible for all tax reports and the quality and content of their products. Customers see the seller’s business name during their purchase. All bank statements will show the seller’s business name.

What is the difference between PayFac and aggregator?

The only key difference between a payment facilitator and payment aggregator is that while a facilitator provides merchants with their own MID under a master account, an aggregator signs up merchants directly under its own MID. That brings us to the important question: What’s better – a payfac or payment aggregator?

Is stripe a merchant aggregator?

Specifically, Stripe is what is known as an aggregator. Rather than having users sign up as a full merchant with a merchant acquirer, Stripe allows users to sign up as sub-merchants underneath Stripe’s merchant account.

Who are payment aggregators in India?

‘Payment Aggregators’ under the PA Guidelines are defined as entities that facilitate e-commerce sites and merchants to accept various payment instruments from the customers for completion of their payment obligations without the need for merchants to create a separate payment integration system of their own.

Who is merchant of record in a marketplace?

A merchant of record is a term used to describe the legal entity selling goods or services to an end customer. The MoR is who the end customer owes payment to for their purchase, they handle all payments and take on the liability related to each transaction.

Is FastSpring a merchant of record?

A merchant of record (MoR) is the entity that sells goods or services to a customer. Note: FastSpring is the merchant of record for thousands of growth-stage SaaS and software businesses around the globe. Learn more about how FastSpring can help you grow your business globally.

What are sub merchants?

Sub-Merchant means a provider of goods or services to End Users where a Merchant has agency or other authority to offer, conclude or transact Offers on behalf of that provider.

What is a sub-merchant platform?

Submerchants are a payment facilitator’s merchant customers. The payment transactions run through a merchant account. The payment facilitator owns this merchant account.

What is stripe merchant?

Stripe is a complete solution that combines the functionality of a merchant account and a gateway in one, which means you only need Stripe to accept payments and deposit funds into a bank account. You cannot use existing merchant accounts or gateways with Stripe, as it functions as both already.