What is payment aggregator example?

What is payment aggregator example?

In simple words, Payment Aggregator is a collection of Payment Gateway. The Service provider would bunch (integrate) with various options for digital payments (different payment gateways) and bringing them in one place. Examples of payment aggregators are PayKun, Billdesk, Instamojo, etc.

How many payment gateways are there in India?

Top 5 online payment gateway in India

  • Razorpay.
  • Instamojo.
  • Paypal.
  • Paytm.
  • Cashfree.

Is stripe a payment 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.

How do payment aggregators make money?

Aggregator has to compensate banks or merchant if a fraudulent transaction is attributed to it and such cases impact merchant’s revenue /margins badly. Imagine if there is fraudulent transaction of Rs. 10,000 then aggregator has to process INR 1Crore GMV to compensate that single loss.

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What is the difference between aggregate and total?

As adjectives the difference between aggregate and total is that aggregate is formed by a collection of particulars into a whole mass or sum; collective; combined; added up while total is entire; relating to the whole of something.

Which is the most popular payment gateway in India?

Best Online Payment Gateways in India

  • Citrus Pay Payment Gateway. Citrus Pay is one of the top payment gateways in India today.
  • CCAvenue Payment Gateway.
  • PayUBiz India Payment Gateway.
  • Direcpay Payment Gateway.
  • Zaakpay Payment Gateway.
  • Instamojo Payment Gateway.
  • Bill Desk.
  • Atom Paynetz Payment Gateway.

What is paypayment aggregator and how it works?

Payment Aggregator is the inclusion of all these payment gateways. Payment aggregators are service providers through which e-commerce merchants process payments. They allow merchants to accept bank transfers without setting up a merchant account that is associated with a bank.

What is the difference between payment gateway and payment aggregator in India?

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Options: Payment Gateways in India allow the merchants to deal in a specific payment option put on the portal, whereas Payment aggregators offer multiple options for payment, from bank transfers, credit/debit cards, e-wallet transactions, and recently UPI.

How do aggregators get transaction share of large merchants?

Pricing is major differentiator and entry point for new aggregator to get transaction share of large merchant. And an aggregator has to beat not only other aggregators but also acquiring banks, wallets (who also can directly integrate with merchants).

What are the disadvantages of payment aggregators?

Disadvantages of Payment Aggregators Payment aggregators allowing instant credit card processing, aggregators are at higher risk of a later chargeback. In order to counter the risk, they exercise extreme caution when irregular activity is found and the merchant or cardholder is suspected.