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REST API | Visa Platform Connect

Aggregator Terminology

aggregator
Also known as
payment 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.