The provider becomes the documented seller for approved transactions. Compare the exact responsibility boundary, not only the headline fee.
8 provider profiles · independently reviewedA full Merchant of Record platform built primarily for software, SaaS, subscriptions, and digital products.
A Merchant of Record and creator-commerce platform for digital products, software, subscriptions, downloads, and license keys.
A creator-commerce platform and marketplace for digital products, courses, memberships, and simple software sales.
A developer-focused Merchant of Record for software, digital products, subscriptions, usage billing, and built-in benefits.
A sales-assisted Merchant of Record platform for SaaS, downloadable software, apps, games, and digital goods.
Stripe's generally available Merchant of Record mode for eligible digital products, layered onto Stripe Payments and Checkout.
A developer-oriented Merchant of Record focused on SaaS and digital products, with particular attention to sellers in India and other emerging markets.
A newer Merchant of Record built for indie SaaS, AI tools, and digital products, combining global tax handling with product and growth tooling.
A localized number is not necessarily the currency charged to the buyer, held in your balance, or paid to your bank. Follow the full money path and check who pays each conversion.
Count each arrow where the currency changes. Two changes mean two conversions, although the provider may not publish a separate fee for both.
Currency—not geography alone—determines the route. These representative USD, EUR, and CHF examples assume the buyer and seller bank use the same currency, isolating provider FX from buyer-card FX.
| Provider | US marketUSD sale → USD bank | EU marketEUR sale → EUR bank | Outside US/EUCHF sale → CHF bank |
|---|---|---|---|
| Paddlebuyer currency → balance currency → payout currency | USD charge → USD balance → USD payout0 currency changesChoose USD as the Paddle balance and payout currency. Standard transaction and payout fees remain. | EUR charge → EUR balance → EUR payout0 currency changesChoose EUR as the Paddle balance and payout currency. Standard transaction and payout fees remain. | CHF charge → EUR balance → CHF payout2 currency changesPayment-to-balance FX is itemized at no universal public rate; balance-to-CHF payout can add up to 1.5%, plus bank fees. |
| Lemon Squeezylocal display → USD customer charge → USD payout → bank currency | USD charge → USD payout → USD bank0 currency changesThe displayed, charged, payout, and bank currencies can all remain USD. Standard transaction fees still apply. | EUR display → USD charge → USD payout → EUR bank2 currency changesThe buyer's bank may convert the USD card charge; the seller then pays the 1% non-US payout fee plus payout-processor FX to EUR. | CHF display → USD charge → USD payout → CHF bank2 currency changesThe buyer's bank may convert the USD card charge; the seller then pays the 1% non-US payout fee plus payout-processor FX to CHF. |
| Gumroadlocal or USD charge → USD reporting → seller-country payout currency | USD charge → USD reporting → USD payout0 currency changesA US seller receiving USD follows a matched-currency route; card, platform, and payout fees are separate. | EUR charge → USD reporting → EUR payout2 currency changesThe local charge is reported in USD and converted back for payout. Gumroad does not publish a separate universal FX percentage. | CHF charge → USD reporting → CHF payout2 currency changesThe local charge is reported in USD and converted back for payout. Gumroad does not publish a separate universal FX percentage. |
| Polarbuyer currency → USD balance → payout currency | USD charge → USD balance → USD payout0 currency changesThe currencies remain USD. Standard transaction and Stripe payout fees still apply. | EUR charge → USD balance → EUR payout2 currency changesNo separate first-conversion fee is published; EU payout FX is 0.25%, and the seller also absorbs Polar's non-US-card fee. | CHF charge → USD balance → CHF payout2 currency changesNo separate first-conversion fee is published; payout FX outside the EU is up to 1%, plus the non-US-card and Stripe payout fees. |
| FastSpringbuyer currency → store/base currency → USD reporting → payout currency | USD charge → USD reporting → USD payout0 currency changesWith USD pricing and payout aligned, this example has no currency change. Other transaction and payout fees may remain. | EUR charge → USD reporting → EUR payout2 currency changesAutomatic localization can embed a 3.5% markup; converting reported USD funds back to an EUR payout can add 2.5%. | CHF charge → USD reporting → supported payout → CHF bank2+ currency changesAutomatic localization can embed 3.5–5.5%, payout mismatch can cost 2.5%, and the bank may convert again when CHF is not the payout currency. |
| Stripe Managed Paymentsbuyer local currency → integration/settlement currency → bank payout | USD charge → USD settlement → USD bank0 currency changesWith integration, settlement, and bank currencies aligned in USD, there is no FX in this example. | EUR charge → EUR settlement → EUR bank0 currency changesWith integration, settlement, and bank currencies aligned in EUR, there is no FX in this example. | CHF charge → CHF settlement → CHF bank0 currency changesWith integration, settlement, and bank currencies aligned in CHF, there is no FX in this example; Adaptive Pricing markup applies when Stripe localizes from another integration currency. |
| Dodo Paymentsbuyer local currency → USD/EUR/GBP/INR wallet → payout currency | USD charge → USD wallet → USD payout0 currency changesUse native USD pricing and a USD payout. Payout or transfer fees can still apply, but this example has no currency change. | EUR charge → EUR wallet → EUR payout0 currency changesUse native EUR pricing and an EUR payout. Payout or transfer fees can still apply, but this example has no currency change. | CHF charge → supported wallet → CHF payout2 currency changesAdaptive Currency costs 2–4%, paid by the buyer by default or absorbed by the seller; standard payout FX can apply again. |
| Creembuyer charge currency → Creem balance → registered bank currency | USD charge → Creem balance → USD bankFX count not disclosedCreem does not disclose whether this matched-currency route converts internally; conversion is described as covered by the platform fee. | EUR charge → Creem balance → EUR bankFX count not disclosedCreem does not disclose whether this matched-currency route converts internally; conversion is described as covered by the platform fee. | CHF charge (verify) → Creem balance → CHF bankFX count not disclosedCreem does not publish a complete currency matrix or internal balance route. Verify CHF support and partner FX during onboarding. |
These are routing examples, not net-payout quotes. They exclude the headline transaction fee, payout service fees, bank charges, and exchange-rate movement.
| Provider | Buyer experience | Seller balance and payout | FX cost | Money path |
|---|---|---|---|---|
| Paddle | Prices and charges in 33 supported payment currencies, with fixed currency prices and country overrides.The buyer is charged in the transaction currency shown at checkout, rather than seeing an estimate for a different card charge. | One balance currency can be USD, EUR, GBP, AUD, or CAD; bank payouts support a wider 13-currency list. | Buyer: Normally none when the card currency matches the transaction currency; the buyer's issuer can still classify a purchase as cross-border.Seller: Payment-to-balance FX is itemized but its margin is not published as one universal rate. A balance-to-payout mismatch can add up to 1.5%, plus possible SWIFT or bank fees. | buyer currency → balance currency → payout currency |
| Lemon Squeezy | Products can be displayed in 130 store currencies, but this is localization rather than native processing in each currency.Every transaction is ultimately charged in USD, even when checkout and the receipt show another store currency. | The seller's proceeds and payouts are USD; a non-USD bank payout is converted into the selected bank currency at payout time. | Buyer: Lemon Squeezy says it adds no checkout conversion fee, but the buyer's bank may charge FX because the actual card charge is USD.Seller: Non-US bank payouts cost 1%; a payout processor also converts USD to the selected bank currency. PayPal can add its own conversion or withdrawal fee. | local display → USD customer charge → USD payout → bank currency |
| Gumroad | Sellers choose a display currency; eligible one-time card purchases can be localized into the buyer's currency, while other transactions remain USD.Eligible one-time card buyers are charged the local amount shown. Unsupported local-currency sales, memberships, PayPal, and some connected-account flows can be charged in USD. | Bank payouts are made in the single local currency assigned to the seller's country; PayPal payouts and unsupported bank countries use USD. | Buyer: Gumroad uses a mid-market conversion for supported local charges; a buyer's card issuer may still add an international-purchase fee.Seller: Bank-payout conversion uses the rate at the time of sale, with no separately published Gumroad FX percentage; PayPal or Stripe Connect can apply their own conversion rules. | local or USD charge → USD reporting → seller-country payout currency |
| Polar | Products can carry explicit prices in 130+ currencies; checkout selects an enabled local price by customer location.The buyer pays in the selected presentment currency. If it is not enabled on the product, checkout falls back to the organization's default. | Every order is converted into a USD Polar balance; Stripe Connect can then pay that balance to the seller's connected account currency. | Buyer: No separately published local-currency conversion markup; a 1.5% non-US-card fee is passed through to the seller instead.Seller: This can be a two-conversion route: the order converts to USD, then a non-USD payout converts again. Only the payout conversion fee is explicit: 0.25% in the EU or up to 1% elsewhere, plus Stripe payout fees. | buyer currency → USD balance → payout currency |
| FastSpring | Checkout supports 37 transaction currencies and lets the seller set currency-specific prices instead of automatic conversion.The buyer is charged in the enabled transaction currency shown at checkout; otherwise checkout falls back to the store's base currency. | The store chooses one of six base currencies; payout funding supports USD, EUR, GBP, AUD, and CAD. | Buyer: Automatic localized prices embed a 3.5% exchange-rate markup for major currencies and 5.5% for the others; fixed local prices avoid that automatic rate.Seller: A payout currency different from the store currency costs 2.5%. FastSpring warns sales reported in USD may be converted a second time for a non-USD payout. | buyer currency → store/base currency → USD reporting → payout currency |
| Stripe Managed Payments | Adaptive Pricing is enabled by default and offers localized prices in more than 150 countries; manually defined currency prices can override it.The buyer is charged in the local presentment currency selected at checkout, or can choose the original integration currency. | Stripe converts Adaptive Pricing sales back to the integration or supported settlement currency of the seller's Stripe account. | Buyer: Adaptive Pricing adds 2–4% to Stripe's exchange rate by default; the buyer pays this. Paying in the original currency can instead trigger the buyer's bank FX fee.Seller: Stripe says the seller pays 0% for Adaptive Pricing and no separate currency-conversion fee when it is enabled; normal processing and cross-border fees still apply. | buyer local currency → integration/settlement currency → bank payout |
| Dodo Payments | USD, EUR, GBP, and INR are native; Adaptive Currency localizes checkout and accepts 80+ additional currencies.The buyer is charged in the selected local billing currency. Without Adaptive Currency, checkout uses the product's native currency. | The seller has separate USD, EUR, GBP, and INR wallets; other Adaptive Currency payments convert into a supported settlement wallet. | Buyer: By default the buyer pays a visible 2–4% Adaptive Currency fee: 4% below $500, 3% at $500–$1,500, and 2% above $1,500.Seller: The seller can absorb that same 2–4% instead. Non-USD payouts use standard FX, with a $5 fee below $1,000 and $25 for USD SWIFT payouts where applicable. | buyer local currency → USD/EUR/GBP/INR wallet → payout currency |
| Creem | Creem advertises multi-currency checkout, but its public documentation does not publish a complete supported-presentment-currency matrix.Buyers are charged in the configured product or checkout currency; verify each required currency and payment method during onboarding. | Bank payouts are processed in the registered bank account's currency; USDC payouts on Polygon are also available. | Buyer: Currency conversion is described as covered by the platform fee, but no separate customer FX markup or universal exchange-rate rule is published.Seller: If bank and charge currencies differ, a partner conversion fee applies at an unpublished rate, alongside the international payout fee of $7/€7 or 1%, whichever is higher. | buyer charge currency → Creem balance → registered bank currency |
FastSpring explicitly documents that sales may be converted into USD for reporting and then converted again for a non-USD payout. Lemon Squeezy likewise processes transactions and payouts in USD before a selected non-USD bank payout is converted. In both cases, “shown in local currency” does not mean the full route stays in that currency.
Polar has a related—but not identical—path: the buyer is genuinely charged in an enabled local currency, then Polar converts the sale to its USD balance and Stripe may convert it again for a non-USD payout. Polar publishes the second conversion at 0.25% in the EU or up to 1% elsewhere, but does not separately state a fee for the first conversion.
MoRs approve sellers and products. Services, marketplaces, physical goods, regulated categories, and some billing flows may be excluded.
The MoR entity can appear on receipts, invoices, card statements, terms, and support communications.
You receive net payouts under the provider schedule rather than settling each payment directly to your merchant balance.
Checkout, subscriptions, tax evidence, customer records, and payment credentials can become expensive to move later.
You still own the product, product support, entitlements, bookkeeping, income tax, vendor oversight, and every responsibility outside the contract. Coverage can also change by seller country, buyer location, and product type.
Understand the boundary →