Payment Aggregator and Payment Gateway is recently acknowledged innovation by Reserve Bank of India under Department of Payment and Settlement System, driven by its Act, 2007 has periodic report to Reserve Bank of India and other external agency mandates by regulation prescribed. Connect and let’s foster more transparency and reporting of Industry.
Introduction
Payment Aggregator (PA) and Payment Gateway (PG) in general read together and even understood together as similar products but in fact, it two different licenses and the nature of the activity is different in total however both are intermediaries playing an important function in facilitating payments in the online space. The major difference between these two terms is all about the handling of funds, so ever handling the funds on behalf of the client is an aggregator and just facilitating the flow of information on secured technology infrastructure is the gateway, both is payments industry.