These are the 10 best merchants of record in Mexico to simplify your operations in 2025:
- Cubbo
- dLocal
- Ebanx
- PayU
- Stripe
- Paddle
- PayPro Global
- 2Checkout
- FastSpring
- Nuvei
Expanding into new markets always represents an opportunity, but it also brings operational, tax and logistical challenges that can slow down any brand’s growth.
For international companies, especially from the United States, Europe or Asia, that want to sell in Mexico without the complexity of opening a local entity, dealing with the SAT or managing CFDI invoicing, working with a Merchant of Record has become a strategic and increasingly popular solution.
Mexico is the second largest ecommerce market in Latin America, with growing digital penetration and an increasingly active middle class. However, entering the Mexican market without understanding its tax, legal and operational nuances can be costly and slow.
A merchant of record lets you delegate all fiscal, payment and compliance responsibility to a specialized Mexican entity, while you stay focused on your brand, products and commercial strategy.
In this guide, we present the best merchant of record options in Mexico, explain how they work, when they make sense and what you should evaluate before choosing one.
10 best merchants of record in Mexico to simplify your operations
1. Cubbo
Cubbo positions itself as the comprehensive partner for international brands wanting not only to sell in Mexico, but to operate with the same efficiency as major ecommerce platforms while maintaining full operational control.
Unlike providers that only offer payment focused merchant of record services, Cubbo combines tech enabled fulfillment, 3PL logistics and merchant of record under a complete crossborder model designed for high volume companies.
How their merchant of record model works
Cubbo acts as both Importer of Record (IOR) and Merchant of Record (MoR) in Mexico, meaning it uses its Mexican tax entity to process sales, charge in Mexican pesos, manage VAT and issue CFDI invoices on behalf of your brand.
This eliminates the need for you to register with the SAT, open local bank accounts or navigate complex Mexican tax rules.
Their logistics infrastructure allows products to arrive directly from your factory or international warehouse to their Mexican fulfillment centers, where they handle storage, preparation, shipping and returns, leveraging the dense ecosystem of logistics companies in México City for faster first and last mile options.
Main advantages
- Complete crossborder model combining import, fulfillment and merchant of record in one solution
- Fast deliveries, including same day in Mexico City and 1.3 day averages nationwide
- Advanced tech integrations with Shopify, Amazon, Mercado Libre, TikTok Shop and 20+ platforms
- Continuous operation 365 days a year, including weekends and holidays
- Efficient returns management with same day restocking
- Specialized local support that understands the Mexican market
Specialization in high volume
Cubbo is built for established brands handling significant sales volumes and seeking to scale in Mexico without compromising speed, control or profitability.
Its technology provides full visibility of inventory, orders and shipments from a single dashboard, helping you make decisions based on real time data.
Success stories like Platanomelón show how European brands reduced delivery times from Spain from weeks to just 1.3 days by operating from Mexico with Cubbo.
2. dLocal
dLocal is a global payments platform with strong presence in Latin America, including Mexico. Its merchant of record model allows international companies to charge in Mexican pesos and comply with local tax obligations without a local entity.
It specializes in enabling payments through local methods such as domestic cards, SPEI, cash payments at Oxxo and other consumer preferred options.
Main advantages:
- Coverage across multiple Latin American countries
- Payment processing using local payment methods
- Merchant of record model that fully assumes tax responsibility
- Integrations with major ecommerce platforms and enterprise systems
3. EBANX
EBANX is another major payments provider in Latin America offering merchant of record services in Mexico. Its focus is on simplifying crossborder transactions for global companies selling digital and physical products.
EBANX is another major payments provider in Latin America offering merchant of record services in Mexico. Its focus is on simplifying crossborder transactions for global companies selling digital and physical products.
In addition to processing payments, EBANX manages taxes, invoicing and regulatory compliance under its own Mexican entity.
Main advantages:
- Extensive experience in complex Latin American markets
- Support for recurring payments and subscriptions
- Chargeback and dispute management
- Dashboard with full visibility of transactions and taxes
4. PayU
PayU operates in Mexico both as a payment processor and a merchant of record for companies seeking to accept local payments without creating their own tax structure in the country.
Its platform allows brands to charge in Mexican pesos, comply with VAT and offer multiple payment methods tailored to Mexican consumer behavior.
Main advantages:
- Robust infrastructure backed by years of experience in Latin America
- Support for cash payments, cards and bank transfers
- Merchant of record model that simplifies compliance
- Integrations with major shopping carts and ecommerce platforms
5. Stripe (with support for merchant of record)
Although Stripe is primarily a payment processor, it offers tools and partnerships that enable merchant of record style operations in international markets, including Mexico.
Stripe Tax helps calculate and manage taxes, though the level of fiscal responsibility depends on the implementation model.
Main advantages:
- Highly advanced and well documented platform
- Integrations with virtually any system
- Global support with local capabilities
- Automated tax tools and reporting functionalities
6. Paddle
Paddle functions as a global merchant of record specializing in digital products, SaaS and subscriptions. In Mexico, it manages VAT, CFDI invoicing and payment processing under its own legal entity.
It is particularly useful for software companies selling to Mexican customers without wanting to handle local tax obligations.
Main advantages:
- All in one model for digital products
- Complete tax and compliance management
- Support for local payment methods
- Significant reduction in operational complexity for SaaS businesses
7. PayPro Global
PayPro Global focuses on being a merchant of record for digital products and online services, covering Mexico and other key markets.
Its model allows tech companies to sell globally while PayPro manages taxes, payments and invoicing in each country.
Main advantages:
- Specialized expertise in digital products and licenses
- Multi jurisdiction tax coverage
- Detailed reporting for finance teams
- Fast onboarding for software companies
8. 2Checkout (now Verifone)
2Checkout, now part of Verifone, offers merchant of record services for companies selling digital and physical products worldwide, including Mexico.
Its platform supports multi currency payments, tax management and regulatory compliance under its global infrastructure.
Main advantages:
- Strong crossborder commerce experience
- Support for multiple business models
- Subscription and recurring payment management
- Global acquiring network with local presence
9. FastSpring
FastSpring acts as a merchant of record for software and digital content companies selling worldwide. In Mexico, it manages VAT, CFDI invoicing and payments under its Mexican entity.
Its focus is simplifying global monetization for tech companies.
Main advantages:
- Complete model for SaaS and digital products
- Tax compliance in over 200 countries
- Integrations with development and CRM tools
- Checkout experience optimized for conversion
10. Nuvei
Nuvei provides merchant of record solutions in several markets, including Mexico, with a focus on large companies and high volume operations.
Its platform combines payment processing, risk management and regulatory compliance under a unified model.
Main advantages:
- Global infrastructure with strong local capabilities
- Support for multiple business verticals
- Advanced fraud detection technology
- Scalable model for fast growing enterprises
The growth of international ecommerce and the importance of merchants of record in Mexico
In recent years, Mexico has positioned itself as one of the most attractive markets for international companies expanding in Latin America.
Its population of over 130 million, a growing digital middle class and its proximity to the United States make it a strategic location for brands looking to grow in the region.
However, operating in Mexico means dealing with a complex tax environment, strict CFDI electronic invoicing requirements, VAT calculation, withholding rules and compliance with the SAT.
For high volume brands seeking fast market entry without sacrificing operational control, having a specialized merchant of record can be the difference between a smooth expansion and months of bureaucratic delays.
Merchants of record take full legal and fiscal responsibility for sales conducted in Mexico, allowing foreign companies to operate from day one without creating a local corporation, hiring specialized accountants or navigating complex regulation.
Additionally, local payment methods like Oxxo cash payments, SPEI or domestic cards can significantly increase conversion rates compared to international card processing.
A merchant of record not only simplifies tax compliance. It accelerates market entry, reduces operational costs and allows brands to focus on what they do best: selling and expanding their business.
How to choose the best merchant of record for your business
Choosing the right merchant of record is a strategic decision that can define the success of your expansion in Mexico. Not all providers offer the same capabilities, and the correct choice depends on your business model, sales volume and growth objectives.
Below are the most important factors to consider before signing a contract.
1. Key factors to evaluate a merchant of record
Before selecting a provider, analyze these three essential pillars: real tax coverage, cost structure and operational visibility.
Real tax coverage:
Verify that the provider truly has a Mexican legal entity with an active RFC and proven experience managing taxes, CFDI invoicing and SAT audits.
Not all companies claiming to be merchants of record actually have the full legal infrastructure.
Cost structure:
MoR providers usually charge higher fees than traditional payment gateways because they assume fiscal and legal risk.
You must understand total effective cost, including transaction fees, FX conversions, settlements and hidden charges.
Operational visibility:
You need real time access to sales, retained taxes, returns and fiscal reports.
A strong merchant of record provides detailed dashboards and exports that integrate with accounting and BI systems.
Also ask who is responsible in case of SAT audits or fiscal contingencies. This must be crystal clear in the contract.
If you are unsure what model fits your business, talking to a specialist can help you decide with no margin for error.
2. Business model: physical vs digital products
The type of product you sell determines which merchant of record fits best.
Digital products and SaaS:
If you sell software, licenses or digital content, you need a MoR specialized in VAT on digital services, automated invoicing and subscription management.
Paddle, FastSpring or PayPro Global excel in this model.
Physical products:
If you sell tangible goods, you need a MoR that can also handle imports, duties, logistics and regulatory compliance (such as NOM or sector specific rules).
In this case, Cubbo’s integrated model combining MoR + fulfillment offers a complete solution.
High volume operations:
If you process thousands of transactions monthly, choose a provider with scalable infrastructure, strong technology and fast response capacity.
Fintech brands often need specialized storage, security and reconciliation flows when moving cards, devices or branded kits. If your operation sits at the intersection of regulated payments and physical distribution, consider partners experienced in fulfillment in Mexico for fintech to keep compliance and delivery performance aligned.
3. Technological integration and automation
Technology is the heart of modern e-commerce. A solid merchant of record must offer native integrations with Shopify, WooCommerce, Mercado Libre, Amazon and TikTok Shop.
It must also enable automatic sync of inventory, orders, invoicing and tracking to eliminate manual errors.
Look for providers offering:
- Well documented APIs for custom integrations
- Webhooks and real time notifications for transactions, taxes and returns
- Automated reports that export directly to accounting
- Intuitive dashboards with full visibility of operations
Automation not only saves time. It reduces operational costs and improves customer experience through fast and accurate processes.
4. Local experience and support in Mexico
Operating in Mexico requires understanding local consumer behavior and constantly changing tax regulations.
A merchant of record with proven local experience can anticipate issues, optimize processes and offer solutions tailored to the Mexican environment.
You need local teams, Spanish speaking support and fast response times.
The difference between a global provider without real Mexican presence and one with local infrastructure can be critical.
Ask about:
- Support response times
- Availability (hours, channels, language)
- Success stories with similar companies
- Knowledge of the SAT and fiscal regulations
If your goal is to professionalize your operation in Mexico, choose a partner offering proximity, transparency and proven local expertise.
What is a merchant of record and how it can improve your operations
A merchant of record (MoR) is the legal entity that appears as the official seller before the end customer, banks, payment processors and tax authorities.
In practical terms, when you use a merchant of record, you sell your products to the MoR, and the MoR resells them to the end customer under its own tax entity.
For the Mexican consumer, the MoR is the official seller, even if the product and brand are yours.
This means the MoR assumes full fiscal, legal and operational responsibility for each transaction, freeing you from the complexity of operating directly in Mexico.
Main functions of a merchant of record
A merchant of record in Mexico takes care of:
- Processing payments: Accepting domestic cards, SPEI, cash payments at Oxxo and digital wallets using its own payment infrastructure.
- Calculating and paying taxes: Managing the 16 percent VAT, withholdings and any other applicable taxes based on product or service type.
- Issuing CFDI invoices: Generating legally required electronic invoices under its own Mexican RFC, fully compliant with SAT regulations.
- Managing returns and chargebacks: Handling claims, disputes and refunds with banks and processors.
- Ensuring local compliance: Guaranteeing that each transaction meets fiscal, privacy and consumer protection rules in Mexico.
When executed with accuracy and technology, these functions allow your brand to operate in Mexico from day one without investing in a local fiscal structure.
Differences between a merchant of record and a payment processor
It is essential to understand that a MoR is not the same as a payment gateway such as Conekta, Openpay or Stripe Mexico in its basic configuration.
Payment processor:
Only processes the transaction.
You remain the tax responsible party before the SAT, must issue invoices with your RFC and comply with all tax obligations.
Merchant of record:
Assumes full fiscal responsibility.
Processes payments, calculates taxes, issues invoices under its RFC and manages regulatory compliance.
You operate without needing to register with the SAT.
The difference is critical.
With a payment processor, you are the MoR.
With an external MoR, you delegate all fiscal responsibility in exchange for a higher fee.
When it makes sense to hire a merchant of record
Whether you need a MoR depends on your sales volume, business model and expansion strategy.
Generally, it is ideal when:
- You want to enter the Mexican market quickly without months of paperwork.
- Your sales volume does not yet justify the fixed costs of a local entity.
- You sell digital products or SaaS and must comply with digital services VAT.
- You want to improve conversions using local payment methods otherwise hard to access.
- You want to reduce risk in a new market without investing in local legal structures.
- You do not have a team specialized in Mexican tax regulation.
For consolidated high volume companies, the MoR model allows fast scaling while staying focused on commercial strategy.
If you want to optimize your Mexican operation, a specialist can help determine the most efficient model based on your business type and growth projection.
7 benefits of working with a merchant of record in Mexico
Working with a MoR in Mexico offers important advantages for international brands seeking efficiency, speed and compliance without complications.
7 Key benefits include:
- Fast market entry: Start selling in weeks rather than months, avoiding the bureaucracy of forming a local entity.
- No fiscal infrastructure needed: No RFC, no local accountants, no Mexican bank accounts.
- Payments in Mexican pesos: Better conversion rates compared to international card processing.
- Local payment methods: Accept domestic cards, SPEI, Oxxo payments and other preferred methods.
- Automatic compliance: The MoR manages VAT, CFDI invoices, withholdings and tax reports.
- Reduced legal risk: The MoR assumes SAT responsibility, audits and fiscal contingencies.
- Focus on your core business: While the MoR manages taxes and payments, you focus on sales and growth.
For high volume brands, a MoR often means the difference between a smooth expansion and months of trial and error.
Every business has different challenges. If you plan to enter Mexico, speaking with an expert can save months of work and take your operation to the next level.
4 key services offered by a modern merchant of record in Mexico
A modern MoR in Mexico does more than process payments and issue invoices.
Its true value lies in integrating technology, compliance and full visibility, enabling international brands to operate with precision and confidence.
In a market with strict tax rules and constant regulatory changes, high volume companies need services adapted to the pace of ecommerce.
Below are the essential services a new generation MoR must offer.
1. Payment processing with local methods
The foundation of any successful operation in Mexico is the ability to accept local payment methods.
A modern MoR provides infrastructure to accept:
- Domestic cards
- SPEI bank transfers
- Cash payments at Oxxo and 7 Eleven
- Digital wallets
All processed as domestic transactions, significantly increasing approval rates.
Charging in pesos eliminates currency conversion costs for customers, reducing friction and improving checkout performance.
This ensures each transaction is processed with the lowest possible rejection rate, maximizing revenue.
2. Full tax management and CFDI invoicing
One of the biggest challenges in Mexico is complying with CFDI electronic invoicing and accurate VAT calculation.
A MoR handles:
- Automatic VAT calculation at 16 percent for every sale
- CFDI invoice generation under its own RFC in full SAT compliance
- Withholdings and other applicable taxes
- Fiscal declarations and required documentation for authorities
This automation reduces the risk of tax errors that can lead to fines, audits or operational blocks.
3. Handling returns, chargebacks and disputes
Returns are unavoidable in ecommerce, but when managed well, they become a competitive advantage.
A modern MoR implements agile processes for:
- Automatic refunds processed through its payment infrastructure
- Chargeback and dispute management with issuing banks
- Logistics coordination for returning physical products
- Accurate tax reporting reflecting returns in fiscal balances
This generates trust and loyalty, both essential for long term growth.
4. Integration with ecommerce platforms and ERP systems
Technology is the backbone of any modern MoR, especially if you also sell through a marketplace. The best providers offer native integrations with:
- Shopify
- WooCommerce
- Mercado Libre
- Amazon
- TikTok Shop
- ERP systems
This allows automatic synchronization of:
- Inventory
- Orders
- Invoices and fiscal reports
- Shipment tracking
Automation improves profitability and reduces errors, while real time visibility and traceability are essential to compete in modern ecommerce.
Why Cubbo is the ideal merchant of record for international companies in Mexico
For international high volume brands seeking to operate in Mexico with the efficiency of top ecommerce players, Cubbo offers an integrated solution that goes far beyond the traditional MoR model.
Its proposition combines:
- Merchant of record (MoR)
- Importer of Record (IOR)
- Tech enabled fulfillment
- 3PL logistics
All within a single platform designed for consolidated brands requiring speed, control and immediate scalability.
Integrated model: merchant of record + fulfillment
Most MoRs only manage payments and taxes, leaving out the most critical part of physical product ecommerce: logistics.
Cubbo integrates both worlds in one solution:
- As MoR: processes sales, manages VAT, issues CFDI invoices and complies with SAT obligations.
- As a logistics operator: stores, prepares, packs and delivers your products from strategic centers in Mexico with same day delivery in Mexico City and 1.3 day national averages.
This means you do not need multiple providers. Cubbo handles everything from import to final delivery, reducing complexity, cost and response times.
Importer of Record (IOR) to simplify product entry
One of the biggest obstacles for foreign brands is importing products into Mexico without a local entity.
Cubbo acts as the Importer of Record, meaning it:
- Uses its Mexican tax entity to import your products legally
- Manages duties, import taxes and customs procedures
- Coordinates shipping directly from your factory or foreign warehouse
- Stores and prepares inventory for immediate distribution
This eliminates the need for a Mexican legal entity to import, accelerating market entry and reducing customs related risks.
Technology with full visibility and automation
Cubbo’s proprietary tech platform provides:
- Real time inventory monitoring
- Order and shipment tracking
- Automatic sync with Shopify, Amazon, Mercado Libre, TikTok Shop and 20+ platforms
- Detailed reports for sales, taxes and logistics costs
Each sale is reflected automatically, eliminating manual errors and ensuring synchronized operations.
Fast deliveries with continuous operation
Cubbo provides:
- Same day deliveries in CDMX
- 1.3 day average delivery time nationwide
- Smart carrier assignment based on cost, time and location
This level of speed is a decisive competitive advantage for brands wanting to match or exceed major ecommerce players.
Designed for high volume and expansion
Cubbo is built for brands that:
- Sell nationwide in Mexico
- Are entering Mexico from abroad
- Need a partner combining MoR, import and fulfillment in one solution
Its model requires no warehouse investment, no new systems and no local staff, enabling fast expansion with minimal risk — a strong fit for brands that depend on direct sales fulfillment in Mexico to reach customers nationwide.
Cubbo combines technology, speed and a local team fully committed to your success.
If you are looking to optimize your operation in Mexico with an integrated merchant of record and fulfillment model, speak with a specialist and discover how Cubbo can boost your ecommerce with a fast, reliable and scalable operation.
Frequently Asked Questions (FAQs)
What is a merchant of record and how does it work in Mexico?
A merchant of record (MoR) is the legal entity that appears as the official seller before the end customer, banks, payment processors and tax authorities, and in many jurisdictions it may also be treated similarly to a registered merchant for contractual and compliance purposes.
In practical terms, when you use a MoR in Mexico, you sell your products to the MoR, and the MoR resells them to the Mexican consumer under its own fiscal entity and RFC.
The MoR is responsible for:
- Processing payments through local payment methods
- Calculating and paying VAT and other applicable taxes
- Issuing CFDI invoices under its own RFC
- Managing returns, chargebacks and disputes
- Ensuring full compliance with Mexican tax law (SAT)
This allows you to sell in Mexico without creating a local entity, drastically reducing time to market and operational complexity.
Which are the best merchants of record in Mexico?
The best MoR depends on your business model and sales volume.
- For high volume physical products:
Cubbo offers the most complete model, combining MoR, Importer of Record (IOR) and 3PL fulfillment in one solution. - For digital products and SaaS:
Paddle, FastSpring or PayPro Global specialize in digital services tax compliance. - For general crossborder payments:
dLocal, EBANX and PayU offer regional coverage with local payment methods. - For global operations with presence in Mexico:
Stripe, Nuvei or 2Checkout may offer partial MoR capabilities depending on the implementation.
The correct choice depends on whether you sell physical or digital products, your transaction volume and whether you need logistics or import services.
What advantages does hiring a merchant of record offer compared to managing your own fiscal operations?
Hiring a MoR offers strategic advantages:
- Fast market entry: Sell in weeks instead of months.
- No fiscal infrastructure needed: No RFC, no accountants, no bank accounts in Mexico.
- Payments in Mexican pesos: Improves conversion significantly.
- Local payment methods: SPEI, domestic cards, Oxxo payments, wallets.
- Automatic compliance: VAT, CFDI invoices and SAT reports handled for you.
- Reduced risk: The MoR assumes fiscal responsibility and audits.
- Focus on growth: While the MoR handles tax operations, you concentrate on sales.
For high volume brands, this means scaling faster and with less risk.
How can I connect my business with a merchant of record in Mexico?
The integration process with a MoR generally includes:
- Initial evaluation:
Understand the MoR’s model, taxes, costs and technical requirements. - Contract review:
Define tax responsibilities, commission structure, settlement timelines and data ownership. - Technology integration:
Connect your ecommerce (Shopify, WooCommerce, etc.) with the MoR via API or plugins. - Fiscal configuration:
The MoR sets up VAT calculation, CFDI invoicing and local payment methods. - Testing and launch:
Run test transactions to ensure everything works before going live. - Ongoing monitoring:
Access dashboards and reports to track sales, taxes and operational performance.
If you need a complete model combining MoR + fulfillment, Cubbo offers simplified integration with full onboarding support.
Does Cubbo offer merchant of record services outside Mexico?
Currently, Cubbo operates exclusively in Mexico as:
- Merchant of Record (MoR)
- Importer of Record (IOR)
- 3PL logistics operator
However, if you already operate in other Latin American countries and want to expand into Mexico, Cubbo is an ideal partner to:
- Import goods using its Mexican fiscal entity as IOR
- Act as MoR to process sales and stay compliant with SAT
- Manage complete fulfillment from storage to delivery
- Offer same day delivery in CDMX and 1.3 day averages nationwide
If you are already an importer in the US, Europe or Asia and want to bring products into Mexico without a local entity, Cubbo simplifies the entire operation under an integrated MoR + logistics model.
For high volume brands entering Mexico professionally, Cubbo accelerates expansion with precision and scalability.
