What is a Merchant of Record?

A merchant of record (MoR) is the authorized entity listed as the seller of goods when a consumer or businesses makes a purchase with their credit or debit card. The MoR is held liable by the card processors for the transaction and takes on all liability for collecting and remitting sales tax, maintaining a merchant bank account and managing PCI compliance and chargebacks.
The good news is that companies can hire UMEC to facilitate their transactions and be their Merchant of Record.

Why do I need a Merchant of Record?

It can be expensive and time-consuming to be setup as your own Merchant of Record. Understanding the compliance and regulatory nuances of every market you sell into can be complex and daunting. When you designate another entity as your MoR, you streamline your ecommerce process and offload liability.

What services does a Merchant of Record provide?

A MoR will assist you in a number of areas, including:

  • Setting up domestic and international merchant accounts
  • Accepting local currencies
  • Calculating, collecting and remitting all sales and VAT taxes
  • Ensuring PCI compliance
  • Negotiating processing fees for credit cards
  • Staying up to date on changing laws

Who does UMEC partner with to deliver services?

Our ecommerce partners are some of the best-known names in the business and include established companies such as Shopify, SalesForce, Signifyd, Avalara and many more. 

UMEC can also assist with managing fulfillment and customer service.

Can you tell me more about your pricing structure?

We many different pricing structures and tailor our pricing to match the needs of each individual client. We can assess which of our services would be most helpful and provide a quote for those services most suitable to your specific needs.

Do I have to use all of your services to work with UMEC?

Although we’re proud of the bundle of services we provide, we understand that every client we work with has different needs. We’re happy to provide an audit of your ecommerce presence and suggest a suite of our services that will best fit your needs.

Ready to Simplify Your Ecommerce Accounting?

 Reach out to us today to learn more about how using UMEC as your Merchant of Record can protect your brand and lighten the burden on your accounting team. Together, we’ll help you expand your reach through a frictionless, protected, ecommerce experience. 

How can UMEC's customer loyalty program help grow my business?

Loyalty programs keep customers coming back. A loyalty program can help you connect directly to your customers by providing valuable information about the location, demographic info. You can collect emails for your newsletter or provide exclusive offers to your most valuable customers. Build brand awareness through a robust loyalty program.