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I own a small business and when I started to sell my goods online, I did not know how to go about it. I began searching for a suitable payment aggregator and payment gateway, product supply, inventory management, and logistics. Keep reading to know the information I learned in the process of finding
payment aggregator vs payment gateway difference
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Before I share with you the difference between payment aggregator and payment gateway. Let me share the basic meaning.
Payment aggregator :
In short, a payment aggregator is a service provider that integrates various options of online payments and brings them into one place for merchants. It gives the option of payment transactions, including cash/cheque, and online payments.
Payment Gateway :A payment gateway is a technology that allows people to conduct fund transfers online. It is a transaction intermediary between merchants and customers when goods are being bought.
Look at the table difference between payment gateway and payment aggregator :
The two payment solutions differ on various grounds as explained below:
Parameter
Payment Gateway
Payment Aggregator
Role
Intermediary
Interface
Touchpoints Digitized
Online touch points including Website/ App
Online and/ or offline touch-points
Payment Options
Restricted
Multiple
Integrated Solution
Yes
Yes
Payment Success Rate (PSR)
As much as the payment gateway can manage
Significantly higher payment success rate
Ownership
Owned by public and private banks, merchants, vendors, and payment aggregators
Owned by Fintech players
Permissions
RBI authorisation under the Payment and Settlement Systems Act, 2007 (PSSA)
Payment aggregator requires the requisite certification as per the Payment Card Industry Data Security Standard (PCI-DSS)
What is difference between payment aggregator and payment gateway ?
Pranavv
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2 Year
2022-09-27T20:06:15+00:00 2022-09-27T20:06:18+00:00Comment
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