Why merchant of record

Benefits of outsourcing your payment stack to a Merchant of Record, like Number X, include:

1. Reduction of total cost of payment
2. Reduction of overhead costs
3. Reduction of number of seats in the customer support
4. Elimination of chargeback and fraud risk
5. Capturing orders from multiple jurisdictions without the need to open local entities and merchant accounts
6. Management of tax calculation & reporting to tax authorities, globally

In a nutshell, Number X offers an alternative to building your payment infrastructure from scratch, so you can focus on building your product rather than on the mechanics of how you get paid. The merchant of record (MoR) model gives businesses an opportunity to offload operational work.

I use PayPal, Stripe or Adyen. Are they a Merchant of Record?

No, they are payment service providers (PSPs).

A PSP only handles payment processing, whereas Number X takes responsibility for the entire order process, including:

• Tax calculation & remittance to tax authorities.
• End customer support.
• Compliance.
• Industry-specific antifraud.
• Refund and chargeback management