What exactly is a Virtual Money Transfer Operator (VMTO)?
Virtual Money Transfer Operator? This is a question that is asked of me many times. A virtual money transfer operator is no different (in concept) from a Virtual Mobile Network Operator or a White-Labelled Affiliate selling Web Hosting.
The concept is pretty straightforward and hinges on the understanding of three things, that a Virtual Money Transfer Operator must abide by:
- The do not get to touch the funds. The flow of funds is such that only licensed Banks and MTO/MSB get to touch the money.
- The agreement is one based that of an Affiliate.
- The Licensed MSB provides a White-Labeled platform for you to operator on.
Being an VMTO allows you to enter a market for which you may not directly be licensed for, but rather you piggy-back on the license of an existing MTO in the market you are trying to enter.
I made this brief presentation that highlights how a VMTO works (please give a minute or two for the presentation to load). The copy of the presentation can be downloaded from here: Virtual Money Transfer Operator – VMTO
If you are interested in exploring the possibility of becoming a VMTO, get in touch and let’s talk.
This page was last updated on March 11, 2016.