That is correct...despite what our FAQ currently says. 

Regarding the decision whether to do it yourself or outsource the payment processing, someone ultimately has to implement it.  I certainly don't discourage anyone from managing and hosting it themselves if you have the time and the skill.  For bit-pay, our goal is to make it easy and secure for merchants that choose to outsource their payment processing.  We will also provide integration with a number of third party shopping carts as well as accounting systems.  And, we handle currency exchange for merchants that want to accept bitcoins from customers, but need to receive dollars (and soon other currencies).  We payout a merchant's entire balance once per day (subject to minimums) via ACH direct deposit or bitcoin transaction (for bitcoin, we may soon offer an option of paying out hourly if there is a minimum balance).  We are not a wallet service and do not allow merchants to accumulate a significant balance in their merchant account (which also means that at any given point in time, we typically have very few bitcoins in our online wallet).