Merchant of Record
Simplifying payments for your business
A Merchant of Record (MOR) is the entity authorized to process consumer transactions and accept payments on behalf of a business. Partnering with PayByPhone as your MOR can simplify the entire process, maximizing your parking revenue while minimizing the time spent on payment processing and compliance tasks.
Benefits of Partnering with PayByPhone
Consistent revenue planning
With PayByPhone as your acting MOR, reconciliation of payments is predictable. Funds are processed and deposited into your account on a regular schedule, making it easier for you to plan your finances.
Simplified transaction reconciliation
Forget the hassle of managing complex payment systems. PayByPhone manages all payment transactions, allowing you to focus on your core business activities.
Flexibility in payment methods
PayByPhone supports multiple payment processors, giving your customers the convenience of paying via their preferred method. This leads to higher conversion rates and more satisfied customers.
Dedicated client support
Our expert team is here to assist you with any payment-related issues, ensuring a seamless experience.
Streamlined reporting and analytics
You can gain insights into your sales and customer behavior with PayByPhone’s consolidated reports and analytics, helping you make informed decisions for your business.
Advanced fraud protection
PayByPhone offers fraud detection and prevention tools to safeguard your revenue and your customers' payment information.
How it works
Step 1: Customer creates a parking session
The customer uses the PayByPhone app to create and pay for a parking session
Step 2: Payment processing
The payment is securely processed through PayByPhone’s merchant account
Step 3: Revenue remittance
PayByPhone collects the full payment and prepares a remittance schedule
Step 4: Direct deposit
Funds are remitted into your account via direct deposit
Get in touch with us
Ready to ensure consistent revenue and create a more seamless experience for both your business and parkers? Contact us today to learn more about how PayByPhone’s Merchant of Record services can simplify your payment processing.
Email us to learn more