Glossary

Updated 17 October 2016

The Committee on Payments and Market Infrastructures (CPMI) provides this glossary of payments and market infrastructure terminology as a reference to the standard terms and definitions used in connection with payment, clearing, settlement and related arrangements. Current definitions are now shown alongside the previous ones. You can generate a PDF version of the glossary here.

aggregator (payment aggregator)

A payment service provider through which e-commerce merchants can process their payment transactions. An aggregator allows merchants to accept different payment instruments such as credit card, bank transfers, e-money without having to setup a merchant account with a bank, card association etc. The aggregator provides the means for facilitating payment from the consumer to the merchant.

Updated: 1 Sep 2016

Source documents

Date Title
9 Sep 2014 Non-banks in retail payments
U
unwind

 Additional terms that are not included in the main glossary can be found in the previous version of the glossary.