Summary
Remove pain points affecting your cross-border payments and global expansion with our Merchant of Record model and comprehensive payments solutions.
Topics
Transcript
Retail was primed for disruption back in 2012, and we did just that, we disrupted it - and, uh, we solved a lot of problems for a lot of retailers to the point where I think we're the incumbent now, as far as sort of Merchant of Record cross-border services go.
The REACH platform continues to solve cross-border problems. A more recent problem is UK and EU requiring the merchant to actually pay tax or VAT instead of the VAT being paid at the border. The governments now want the merchants to pay that. That's obviously a hard thing for a merchant, let's say in the States to set up a tax ID, pay the taxes accurately.
Reach solved the problem by partnering with a large tax service and included in the platform where we can price duty and tax in real time, and we actually pay the VAT on behalf of the merchant through our Merchant of Record model.
The difference between us and payment processors and aggregators in the space, is that the merchants are still required to set up local entities to acc...