On This Page
REST API | Visa Platform Connect
Aggregator Terminology
- aggregator
- Also known aspayment aggregator. It is an organization that aggregates sub-merchants under a single account and settles funds directly to the sub-merchants. An aggregator is usually an ISO or MSP.
- independent sales organization (ISO)
- Organization that performs one or more of these functions:
- Works with acquirers to sponsor merchant accounts and usually assumes the risks associated with the merchants’ processing.
- Procures new merchant relationships based on contracts with acquirers.
- Connects with a gateway to process online payment card transactions for small businesses, usually in exchange for a fee or percentage of sales.
- member service provider (MSP)
- Same as an ISO, although an MSP has no financial responsibility to the merchant.
- payment facilitator
- Payment aggregator.
- service provider
- Third-party or outsource provider of payment processing services. A service provider typically provides a single service with no role in settling funds to a merchant.
- sub-merchant
- Merchant whose transactions are submitted by a payment aggregator.
- third-party agent
- Umbrella term for independent sales organizations, member service providers, payment aggregators, and payment facilitators.