Billing & invoicing

Veriam acts as the Merchant of Record (MoR) for software providers, handling subscription billing, payments, and invoicing on their behalf. This means that when a customer subscribes to a plan, Veriam processes the payment, issues invoices, and ensures compliance with local tax regulations.

How Billing Works in Veriam

1. Customer Subscribes – A customer selects a plan (flat-fee, per-user, free, or one-time cost).

2. Veriam Processes Payment – Charges the customer’s payment method at the start of the billing cycle if billed in advance or verified payment method at the start if billed in arrears.

3. Invoice is Issued – Veriam automatically generates and sends an invoice to the customer.

4. Renewals & Adjustments – For recurring subscriptions, Veriam handles renewals, prorated adjustments (for per-user pricing), and cancellations.

5. Payouts - Veriam collects all payments and remits the appropriate amount to the provider, deducting applicable fees.

What Does It Mean That Veriam is the Merchant of Record?

As the MoR, Veriam:

• Handles Transactions – Manages all payments, including credit cards, bank transfers, and other methods.

• Issues Invoices – Generates tax-compliant invoices for customers worldwide.

• Manages Taxes & Compliance – Ensures VAT, GST, and other regional tax requirements are properly handled.

• Reduces Provider Risk – Protects providers from chargebacks, fraud, and financial compliance issues.

How Customers Receive Invoices

• Invoices are automatically emailed to customers after each successful payment.

• Customers can also access past invoices via the Veriam Customer Portal.

• Each invoice includes details such as plan name, billing period, amount charged, and tax breakdown.