A merchant of record (MoR) purchases physical or digital goods and resells those products to end users. An MoR is a legal entity. It assumes the liabilities associated with commerce, including payment of taxes and compliance with local consumer laws. Typically, an MoR contracts with a payment service provider (PSP) or a payment facilitator (payfac) or an acquirer to handle card transactions. A buyer sees the name of the MoR on a card statement from an issuer or on an invoice from the MoR. The MoR handles all dispute resolution, processes refunds and manages chargebacks. UK-based Paddl...