Payment Aggregator 101
Payment aggregation is also known by the term merchant aggregation. This business model allows a third-party provider of payments, also known as the ‘payment aggregator’, to sign up merchants under its merchant identification number (MID) in order for them all to be processed through one master account. Examples include Google Pay, Amazon Pay, Pa
Everything You Need to Know About Payment Gateway Aggregators
Making payments online through the system is becoming more sought-after by business owners. It is not surprising that non-cash transactions have also grown, particularly because this method also assists consumers. These transactions rely on non-cash tools like credit cards to purchase the item or service they need. If you are a business owner, it is [&hellip
Why Digital Payment Solutions are Crucial for NBFCs?
The market for digital payments and the Fintech sector have seen a huge increase as the pandemic is making more transactions contactless. Utilisation of online platforms to conduct day-to-day activities like purchasing food and groceries as well as mobile recharges saw an increase in usage as the majority of people prefer to stay at home […]
How Does Online Payment Work?
An online payment system facilitates electronic payments for transactions online. It has grown in popularity because of the increasing use of online shopping and electronic banking. A transaction that is online usually is the process of transferring funds from a client’s account to the merchant’s bank account. The online transaction can be made
A Brief Guide on PCI DSS Compliance
Have you ever thought about how many credit card accounts exist around the globe? Based on rough estimates there are more than 3 billion and that number is growing. The number of fraud cases keep on increasing, too. In fact, the total amount of losses from card fraud globally are predicted to be over $35 […]
A Quick Guide to Merchant ID
The merchant ID number can be described as a minuscule code that plays an important role in every transaction. The MID determines the process of transferring funds from the bank that issued the check through the trade account. It is also crucial in preventing errors in the transfer funds. What is a Merchant ID? A […]