Every business selling cross-border faces the same three options, and all three are broken.

Option 1: Contract with your local PSP. Simple to start, but painful at scale. Every transaction outside your home market becomes a cross-border transaction: 2%+ FX spread imposed by Visa and Mastercard, cross-border assessment fees on top, and acceptance rates dropping to 80-85%. For a business doing meaningful volume, that's 5-8% in fees and one in five customers failing at checkout.

Option 2: Contract with local PSPs in every market you sell to. Better economics, local acceptance rates, no cross-border fees, but operationally brutal. You need a local entity in each market, sometimes local employees as collateral for the acquiring bank, and up to six months of negotiation per market. Then you still have to repatriate funds and manage local VAT and sales tax in every jurisdiction. It works, but it doesn't scale.

Option 3: Use a Merchant of Record. A MoR handles everything: local entities, local acquiring, tax compliance, fund repatriation, and sells on your behalf in every market. Great acceptance rates, global coverage, zero operational overhead. But the price is 6-10% per transaction. For digital services that's borderline acceptable. For marketplaces, e-commerce, or any business where margin is tight, it kills the economics entirely.

InflowPay is a fourth option.

We rebuilt the Merchant of Record model from scratch. Merchants get everything a MoR provides at the economics of a local PSP. Take rates of 1.5-4%, not 6-10%.

Two things made this possible that didn't exist before.

First, we own the payment tokens and network tokens for every merchant on our infrastructure. No other MoR does this. Every existing MoR is locked to their acquiring bank, the bank holds the tokens, the MoR cannot move. We hold our own tokens, which makes us acquirer-agnostic. We can switch, add, or negotiate with acquiring banks without disrupting a single merchant. That's a structural advantage no legacy MoR can replicate without rebuilding from scratch.

Second, we built on a full stablecoin backend stack. This eliminates pre-funding requirements, removes FX complexity, and simplifies reconciliation to a degree that makes global payment operations genuinely lean. Settlement is near-instant, 24/7, into self-custodial wallets. Merchants hold their own funds, no counterparty risk, no frozen accounts.

The result: MoR-level service, local PSP-level economics, and a tech architecture that compounds in value as the world moves toward native stablecoin settlement on both the issuing and acquiring side.