However, the term “Merchant of Record” does not appear in the latest Visa or MasterCard rules. To our knowledge, the term MOR is not formal, although it offers a useful acronym for platforms, marketplaces and others, whose business model implies compliance with distributors` business criteria. This could be the case .B of a service platform that markets itself as MOR as part of payment processing for services sold on the platform. In this scenario, the platform markets user services, organizes the delivery of services through a network of contractors, processes payments, manages disputes, reserves sales and turnover, is responsible for refunds and compensates its independent contractors through separate agreements. Let`s go straight ahead. A registration distributor (MoR) is a company authorized and held accountable by a financial institution to process consumer credit and debit card transactions on your behalf. In addition to accepting payments, MoR also ensures that your business complies with tax laws (local and global) and maintains relationships with financial institutions. Basically, if you want to receive money from your customers and make sure you follow all the necessary rules, you need a fairly simple MoR, right? Well, there`s a little more to it than that. If you`re an accountant, these tasks probably seem manageable, but for our other business owners, we should dig a little deeper and see what the daily life of a MoR really looks like: Did you know that online companies are forced by default to act like their own MoR? If the previous checklist sounds like a day at Disneyland, then that`s probably good news. But for the rest of us, outsourcing the Record distributor to a reseller is probably a better option. Yes, yes. If you`re looking for an affordable MoR, Square acts as a record-breaking dealer for your small business.
When a company decides to sell a retailer`s data registration, from the customer`s point of view, the purchase is no different, because the sale always goes through that business site. If you sell your products online, you can use a MoR to accept debit and credit card payments. That`s what everyone thinks when they talk about record-breakers.