Sure, but other companies, e.g., Spreedly, let you outsource PCI compliance as well. This is the first I've seen that let's you get away without having a merchant account.
We're abstracting away the problem of having a merchant account, because we generally believe there are too many complex moving parts.
Wow! This feature is what I was looking at. Glad to have something processor that doesn't need me to have a merchant account. Sweet!