A Payment Aggregator is a regulated intermediary that sits between merchants (businesses accepting payments) and the banking/payment network. Unlike a payment gateway — which is purely a technology pipe — a PA actually holds a nodal/escrow account, collects funds from customers on behalf of merchants, and settles those funds to merchant accounts.

https://www.corporateprofessionals.com/articles/payment-aggregators-in-india-the-invisible-engine-behind-every-digital-transaction/

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One of the most significant changes is in the registration mechanism. The final rules rewrite the registration process around Form I and Form III, provide for auto-generation of the registration certificate, introduce a late fee after 60 days, and create a clearer workflow for closure notice and cancellation of registration.

https://www.corporateprofessionals.com/articles/final-osh-rules-key-changes-employers-should-note/