The Price of Choosing the Wrong Merchant of Record
Posted: Sat Dec 07, 2024 7:20 am
Because billing your global shoppers is a time-consuming and complex operation, it is only a given that there are some downsides to collaborating with a Merchant of Record. However, whatever the cons might be, one thing is certain - choosing your MoR wisely will help you overcome these hurdles and avoid running into frustrating difficulties that threaten your success.
System Flexibility
Merchants of Record are elaborate payment solutions designed to deal with a multitude of complex operations and ever-changing tax and compliance landscapes. On the other hand, large enterprises with strict payment requirements expect extensive customization capabilities to meet their needs.
This is not to say that the MoRs do not offer any afghanistan telemarketing list personalization options. They do, but in most cases, these are somewhat limited. So, if your business requires customizations, you should orient yourself towards those few MoR options that can facilitate you with a solution that fits your needs. For example, PayPro Global understands the importance of personalized shopping experiences, offering SaaS businesses many customization options like branded checkout pages, multiple payment flows, or customized emails.
Additional Fees
Merchants of Records are widely perceived as the premium players among payment solutions. Anyone comparing fees will likely reach the same conclusion. But are these higher fees justifiable? Yes, they are. Prices reflect value, and through MoR partnerships, you gain access to many essential services that enable you to quickly sell around the world. They take on full liability for global payment, be it credit or debit card transactions, as well as others, handle the entire tax and compliance process, constantly follow local regulations, manage chargebacks, and ensure payment security.
Being your own MoR, while possible, represents a huge headache for any business, regardless of size. You would have to create a stable payment infrastructure, maintain it, employ a team of accountants and lawyers, have a highly experienced support team operating 24/7, and undergo audits, risk analysis, and verifications. And that’s just to start off with. Imagine the workload, stress, time, and, above all, the revenue losses you would face.
System Flexibility
Merchants of Record are elaborate payment solutions designed to deal with a multitude of complex operations and ever-changing tax and compliance landscapes. On the other hand, large enterprises with strict payment requirements expect extensive customization capabilities to meet their needs.
This is not to say that the MoRs do not offer any afghanistan telemarketing list personalization options. They do, but in most cases, these are somewhat limited. So, if your business requires customizations, you should orient yourself towards those few MoR options that can facilitate you with a solution that fits your needs. For example, PayPro Global understands the importance of personalized shopping experiences, offering SaaS businesses many customization options like branded checkout pages, multiple payment flows, or customized emails.
Additional Fees
Merchants of Records are widely perceived as the premium players among payment solutions. Anyone comparing fees will likely reach the same conclusion. But are these higher fees justifiable? Yes, they are. Prices reflect value, and through MoR partnerships, you gain access to many essential services that enable you to quickly sell around the world. They take on full liability for global payment, be it credit or debit card transactions, as well as others, handle the entire tax and compliance process, constantly follow local regulations, manage chargebacks, and ensure payment security.
Being your own MoR, while possible, represents a huge headache for any business, regardless of size. You would have to create a stable payment infrastructure, maintain it, employ a team of accountants and lawyers, have a highly experienced support team operating 24/7, and undergo audits, risk analysis, and verifications. And that’s just to start off with. Imagine the workload, stress, time, and, above all, the revenue losses you would face.