There are many businesses that swear by payment aggregators due to the fact that it makes starting that business much easier. The payment aggregator choice has risen in popularity in recent years because it allows a merchant to accept online payments without having to set up a formal merchant account.
Payment aggregators enable merchants to accept credit card and bank transfer payments without obtaining their own merchant account through a bank. Instead, one merchant account is used by a number of merchants. But is that all there is to it?
Online statistics firm Statista predicts that more than 100 million Americans will use peer-to-peer payments in 2020 due to the convenience and simplicity that payment aggregators offer. However, there’s more that you should know about how payment aggregators operate if you choose to put your faith in the hands of PayPal or Square when starting your business.
