Merchant of Record Services

Your role as the "merchant of record" for your online sales requires you to assume an array of administrative responsibilities, such as managing a merchant account with a payment processor and paying the associated credit card fees for the transactions flowing through your site. Other responsibilities are more regulatory in nature, such as complying with PCI DSS standards or collecting and filing sales taxes with relevant tax jurisdictions. The mishandling of one responsibility, managing fraud, can result in significant losses for your company.

Contact us today to learn how your assigning us as the merchant of record for your transactions can save you time and money, and reduce your risks of non-compliance.


Eliminate Payment Processor Headaches and Fees

Accepting credit card payments for online purchases costs you time and money. Credit card rates and processing fees can total to more than 2.5% of your sales depending on the mix of transactions on your site. If you appoint Meridian as the merchant of record for your transactions, you won't need to maintain a merchant account to process payments, and better yet, you won't need to negotiate and manage ongoing credit card processing fees. We'll manage the relationship with a payment processor and will assume responsibility for all credit card fees.

Do Away With PCI DSS Compliance Duties

The merchant of record for an online store must meet information security standards for handling cardholder information in order to process credit cards, debit cards, and other forms of payment. Merchants must annually validate that they are in compliance with these standards, otherwise known as the Payment Card Industry Data Security Standard (or PCI DSS, for short). We will make sure all systems and processes are in place to securely handle cardholder information in full compliance with PCI standards.

Delegate the Collection and Filing of Sales Tax Returns

As an online merchant you must register to collect sales tax for every state in which you have a physical presence, or "nexus." If you ship goods to a state in which you have nexus, then you must collect the appropriate amount of sales tax on that purchase. You must also file a sales tax return for every state in which you are registered to collect sales tax. Meridian will assume all responsibilities for collecting and filing sales tax returns with all appropriate tax jurisdictions.

Remove Yourself from Fraud Risks

As an online retailer you don't physically swipe credit cards in a face-to-face transaction with your customer. These "card not present" transactions incur significantly higher rates of fraud. In fact, according to a recent CyberSource survey, merchants indicated that 1% of their online revenues were lost to fraud. Meridian will assume all fraud risks for orders place on your site. In other words, if a fraudulent order gets through, we cover that cost.

Contact us today to discuss how our Merchant of Record Services can save you time and money, plus eliminate your fraud risks.