Merchant of Record vs Seller of Record
Let us tell you a bit more about Merchant of Record vs Seller of Record. Plus, you will learn what we at Gapp Group offer as part of our MoR solutions.
Let us tell you a bit more about Merchant of Record vs Seller of Record. Plus, you will learn what we at Gapp Group offer as part of our MoR solutions.
Running a successful eCommerce business goes beyond just having a stunning website and attractive products. As you scale up the business and website, two of the key backend processes you need to focus on are the Merchant of Record (MoR) and the Seller of Record (SoR).
These two entities handle the nitty-gritty of your operations and transactions, from secure payments to tax compliance. But what exactly sets them apart? While MoR takes care of payment, taxes, and legalities, SoR focuses on order fulfillment, inventory, service, etc.
Let us tell you a bit more about Merchant of Record vs Seller of Record. Plus, you will learn what we at Gapp Group offer as part of our MoR solutions.
In eCommerce, a Merchant of Record is an entity that the payment processors recognize as the legal seller of products and services. It takes on the responsibility of handling the financial aspects of your sales. That means the MoR is the middleman between you and your customer for the payment process.
Here are a few of the key MoR responsibilities:
You can opt for our MoR services to streamline your eCommerce operations and avoid the payment and tax complexities. That way, you can focus on what you do best, i.e., creating and selling your products or services.
In the eCommerce process, the Seller of Record (SoR) acts as the frontman for the sale. It takes responsibility for the product or service itself along with the customer experience. Unlike a Merchant of Record (MoR), which focuses on financials, the SoR deals with the operational side of things. Here’s how an SoR typically functions:
While the MoR deals with the money, the SoR ensures a smooth customer experience. They take ownership of the operational aspects, freeing you to focus on product development and marketing efforts. If you lack the necessary resources for handling the eCommerce fulfillment and customer service, go for a third-party SoR.
Let’s say you want the best MoR services for your eCommerce business. Then here’s what Gapp Group is prepared to offer you:
Feature | Merchant of Record (MoR) | Seller of Record (SoR) |
---|---|---|
Primary Role | Handles payment processing, fraud prevention, and compliance | Manages product/service offerings and fulfillment |
Legal Responsibility | Liable for chargebacks, refunds, and compliance with payment regulations | Liable for product delivery, customer satisfaction, and returns |
Customer Interaction | Interacts with customers mainly for payment-related issues | Directly interacts with customers for sales and support |
Revenue Recognition | Recognizes revenue from transaction fees and services | Recognizes revenue from the sale of products or services |
Compliance | Ensures compliance with local and international payment regulations | Ensures compliance with product/service-related regulations |
Data Storage | Stores customer payment information, transaction details, & compliance data securely | Stores product/service information, customer order details, and sales data |
Contractual Agreements | Engages in agreements with payment networks and acquirers | Engages in agreements with suppliers, manufacturers, & customers |
Let’s say you want the best MoR services for your eCommerce business. Then here’s what Gapp Group is prepared to offer you:
With our Merchant of Record solutions, we aim to reduce your workload, simplify operations, enhance security, and ensure a global reach.
Remember, the ideal choice depends on your specific needs. If you are trying to navigate through complex financial regulations and payment security, then MoR is what you need. But if you want complete control over the customer experience with fulfillment managed in-house, SoR would be more suitable. Ultimately, both MoRs and SoRs play crucial roles in streamlining e-commerce operations. MoRs take the financial and legal weight off your shoulders, while SoRs ensure a smooth customer journey.
If you need help with the best Merchant of Record services, contact the Gapp Group experts today!
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