Post by account_disabled on Dec 5, 2023 9:05:48 GMT
Providing buyers with an excellent customer experience pays off greatly for businesses, specifically those running on a subscription billing model. The better the experience of using your product or service is, the more loyal your customers will be, increasing the likelihood of recommendations.
But what does this have to do with Special Data an MoR? Staying local can mean lots of things, and you know that, especially if you’ve used search engine mapping. However, to really grow your SaaS globally, you need to take a step further. The payment process is crucial to the overall customer experience, so localizing it will undoubtedly increase buyer satisfaction and overall trust. Providing local payment methods, multiple currencies, support, and checkout pages in the buyer’s language make it a positive experience for shoppers. A Merchant of Record has a global payment infrastructure already set in place, enabling you to immediately operate worldwide without having to do this work from the ground up. From payment methods, currencies, and direct connections with banks in all corners of the world to offering 24/7 payment-related customer support and assistance as well as systems to reduce payment failure rates, MoRs are the partners that can help grow your SaaS business and make you a formidable competitor in your industry. How Does the Merchant of Record Model Work? To establish whether or not your business needs an MoR partnership, you should first have a clear sense of how this model functions. So, here are the five steps to consider.
Step 1: As a result of initiating a purchase, the buyer is redirected to the checkout page hosted by the Merchant of Record. Step 2: The payment is made between the buyer and the MoR, creating a single transaction Step 3: On behalf of the business, the MoR provides the buyer with ownership rights once the transaction is completed. Step 4: Upon completion, the statement will show a combination of the business and the MoR in the descriptor as a reminder to the shopper where the purchase was made Step 5: Since the MoR is liable, it will handle post-sale disputes, including chargebacks.
But what does this have to do with Special Data an MoR? Staying local can mean lots of things, and you know that, especially if you’ve used search engine mapping. However, to really grow your SaaS globally, you need to take a step further. The payment process is crucial to the overall customer experience, so localizing it will undoubtedly increase buyer satisfaction and overall trust. Providing local payment methods, multiple currencies, support, and checkout pages in the buyer’s language make it a positive experience for shoppers. A Merchant of Record has a global payment infrastructure already set in place, enabling you to immediately operate worldwide without having to do this work from the ground up. From payment methods, currencies, and direct connections with banks in all corners of the world to offering 24/7 payment-related customer support and assistance as well as systems to reduce payment failure rates, MoRs are the partners that can help grow your SaaS business and make you a formidable competitor in your industry. How Does the Merchant of Record Model Work? To establish whether or not your business needs an MoR partnership, you should first have a clear sense of how this model functions. So, here are the five steps to consider.
Step 1: As a result of initiating a purchase, the buyer is redirected to the checkout page hosted by the Merchant of Record. Step 2: The payment is made between the buyer and the MoR, creating a single transaction Step 3: On behalf of the business, the MoR provides the buyer with ownership rights once the transaction is completed. Step 4: Upon completion, the statement will show a combination of the business and the MoR in the descriptor as a reminder to the shopper where the purchase was made Step 5: Since the MoR is liable, it will handle post-sale disputes, including chargebacks.