Merchant aggregator Archives - Payment Processing News
Merchant Aggregator
August 19th, 2016 by Elma Jane

Merchant aggregator is an entity that can run many transactions through a single merchant account, an opposite to the traditional account since you’re the sole owner.

Preferred for a smaller business because its not intended as a long term scalable solution to accepting payments.

For businesses that want to expand their processing needs, traditional merchant account will outgrow an aggregator, since the goal is for a business to grow, but it will always come to what’s best for individual business.

While you have the pros of quick application process and instant approval there are a lot of cons to check before getting an aggregator account.

CONS of an aggregator account:

CUSTOMER SERVICE – aggregators are hard to get hold of.

FEES – fixed fees .

FREQUENT HOLDS and DELAY OF FUNDS – aggregators hold funds 24-48 hours before depositing, while longer holds occur 30 days.

LOWER LIMITS – processing limits lower, annual limit of $100k.

PROS of a Traditional Account:

CUSTOMER SERVICE –  24/7 technical support.

FUNDS – next day funding, no frequent account holds.

FEES – tailored to your business needs.

LIMITS – varies by financial strength and business

For more information in setting up an account with NTC give us a call at 888-996-2273 or go to www.nationaltransaction.com  

 

 

 

Posted in Best Practices for Merchants, Merchant Services Account Tagged with: , , , , ,