Aggregator
A provider that puts many small merchants under one master merchant account rather than underwriting each one. It is what makes same-day signup possible, and the trade-off is that the merchant does not hold the account: terms, limits and the decision to stop serving a merchant sit with the aggregator.
Why it matters to a merchant
The model is why some providers can onboard a merchant in an afternoon: the merchant joins an existing account rather than getting their own. That speed is real and so is the trade-off — a sub-merchant's settlement, limits and risk posture are shaped by the aggregator's account, not by their own trading history, and account-level action can reach a merchant who did nothing. Worth knowing which model you are being offered before you compare timelines.
Where this comes up
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Related terms
In this section: Who does what