Online Payment Aggregator
Owning an online business is the best way to expand your market reach and earn remotely. The online business idea is enticing, but the challenge comes when you need to accept money online from your customer. The very first thing a business can do is to find one of the Best Online Payment Aggregator or payment gateway.
Are you also looking for a payment solution that merchants can easily avail? And a solution that will provide you with smooth onboarding and less documentation?
A third-party solution or Payment aggregator might be one of the best options you are looking for. We at Quadrapay helps merchants with various types of payment solution. Whether you are looking for a high-risk merchant account, Offshore Solution, eCheck, ACH or a third-party credit card processing, we can help you.
Let’s dig deep and discuss what is a payment Aggregator and how it is different from payment gateway?
What Is Payment Aggregator?
A Payment Aggregator is a service provider who helps merchants to accept payments under its Merchant Identification Number (MID). It is a third-party provider also known as merchant Aggregator. One can understand a payment aggregator as who have a master merchant account which allows processing payments on behalf of sub-merchants. The advantage of payment Aggregation is that it offers smooth onboarding to new clients. This payment solution is suitable for small business and startups. There is no need to opt for a merchant account on your business name. The payment aggregator accepts money from the customer on your business behalf. And after holding period, generally, 1-3 days, transfers the money to the merchant account.
Payment Gateway Vs Payment Aggregator
In simple, “a payment aggregator can offer you a payment gateway, but a payment gateway cant offers you with payment aggregator.”
- A payment gateway is a software service that allows online businesses to accept payment via web or app. In contrast, a payment aggregator is a service provider who can provide merchants with multiple payment acceptance options.
- A payment gateway can help you with a specific payment option. Whereas a payment aggregator can provide you with multiple payments option like credit/debit card, NEFT, e-wallets and UPI.
- Based on the role, one can understand the payment gateway as an intermediary and payment aggregator as an interface.
Do Payment Gateway And Payment Aggregator Work Together?
In a nutshell, we can say that payment gateway and payment aggregator are different. But they work together to help merchants with a payment solution.
In the era of globalisation, every business is online. It is not convenient to provide a merchant account to every startup or small business. Here comes the role of a payment aggregator. It went through the underwriting process with the acquiring bank and let the small businesses to accept payments under its account.
Advantage Of A Payment Aggregator
- Smooth and Straightforward Application Process: Payment aggregator requires less paperwork. You can even start receiving payments in less than 24 hrs.
- Fast Approval: The approval is so fast that you just need to sign up with the aggregator and you will
- Easy Setup: The solution can be easily integrated into your site with no hassle.
- High Approval Rate: Almost every business gets approval, merchants just need to be KYC compliant.
- Suitable For Small Business: The solution is best for small business and startups. It didn’t require past credit history and provides merchants with smooth onboarding with less paperwork.
Get Your Payment Solution With Quadrapay
So far, we have discussed payment aggregator, and which types of business need it. If you are also a small business or looking for a third-party payment solution, this is the right option for you. We at Quadrapay helps you to get one of the best payment aggregator option to let you accept payments.
Other solutions that quadrapay can help small business is like ACH, eCheck or third-party payment provider.
Happy Processing !!!
