Post by account_disabled on Dec 5, 2023 9:04:45 GMT
Ranktracker Tools How it worksPricingBlogHelp Sign in Sign up BUSINESS TIPS What is The Merchant of Record & Why Should It Matter To You? Felix Rose-Collins Felix Rose-Collins • Nov 16, 2022 • 9 min read Intro Selling SaaS, software, or digital goods online is pretty much a slam-dunk in profitability, right? The tech industry is so closely aligned with the world of eCommerce, so finding eager buyers doesn’t seem to be a challenge. Plus, without the issue of shipping, growing your business anywhere in the world seems like an effortless and risk-free business.
Though there is enormous profit drugsential, Phone Number there are also certain complexities that, more often than not, prevent developers from efficiently accomplishing success in this market. Putting together a global revenue infrastructure is all about handling complex transactions, managing billing, and tax collection, not to mention adhering to ever-changing compliance regulations. And make no mistake, it can be difficult, time-consuming, and, more importantly, it takes you away from what matters most: your product. Whether you are running a SaaS CMS or a live chat tool, your attention needs to be on constantly improving your product.
Fortunately, there is something that can make global expansion significantly easier for you, called the Merchant of Record solution. This may not be a familiar term to many so let’s see what the MoR model means and how partnering up this type of payment solution is one of the ways you could easily boost eCommerce sales. What is a Merchant of Record? A Merchant of Record is a legal entity authorized to act as a reseller on behalf of a business and distributes digital products or services to the end consumer, among many other things.
By doing so, the MoR takes on the financial liability of all transactions between a particular business and its buyers. One of the greatest advantages of working with an MoR is not having to worry about tax calculation management and financial compliance handling associated with global payments. This allows merchants to easily expand globally and find more customers in new and emerging markets while gaining the freedom to focus on what matters most: developing new products and improving existing ones.
Though there is enormous profit drugsential, Phone Number there are also certain complexities that, more often than not, prevent developers from efficiently accomplishing success in this market. Putting together a global revenue infrastructure is all about handling complex transactions, managing billing, and tax collection, not to mention adhering to ever-changing compliance regulations. And make no mistake, it can be difficult, time-consuming, and, more importantly, it takes you away from what matters most: your product. Whether you are running a SaaS CMS or a live chat tool, your attention needs to be on constantly improving your product.
Fortunately, there is something that can make global expansion significantly easier for you, called the Merchant of Record solution. This may not be a familiar term to many so let’s see what the MoR model means and how partnering up this type of payment solution is one of the ways you could easily boost eCommerce sales. What is a Merchant of Record? A Merchant of Record is a legal entity authorized to act as a reseller on behalf of a business and distributes digital products or services to the end consumer, among many other things.
By doing so, the MoR takes on the financial liability of all transactions between a particular business and its buyers. One of the greatest advantages of working with an MoR is not having to worry about tax calculation management and financial compliance handling associated with global payments. This allows merchants to easily expand globally and find more customers in new and emerging markets while gaining the freedom to focus on what matters most: developing new products and improving existing ones.