The key differences lie in the level of control, setup complexity, and administrative responsibility:
- Payment Gateway: Merchants work directly with payment providers for card processing, giving them more control but also requiring more setup and administrative work.
- Payment Aggregation: The aggregator simplifies the process by consolidating payments from multiple providers, reducing setup time and administrative burden.
- Acquiring: This Model is applicable for Card payments only. The acquirer simplifies the process by consolidating payments from multiple providers, reducing setup time and administrative burden.