There are a couple of differences between an agent and a non-agent in the European EMI licensing regime. A non-agent for starters is commonly referred to as an operator-led model. Where the operator of the license is handling all the…
There is still a lot of confusion about what a money transmitter license is and how you can get one for your business. In the US, the financial regulation is such that every state governs its own licensing policy. There…
For years, we have been advocates of sharing information and educating everyone for the greater benefit and good of society. This includes individuals, startups, would-be-entrepreneurs, incumbents, colleagues, professionals in the field, etc. However, this open-door policy has started to take…
Africa, the continent represents over 54 countries and territories. A very large swatch of the world’s freelancers live in Africa and whilst they may have access to markets in the Western World (think Europe, UK, Canada, United States), access to…
This is the quintessential question. tl;dr: Yes, they will go out of business because of obsolescence. Will the small and somewhat medium money transfer businesses go out of business. When Novi (from Facebook), larger players like MoneyGram and VISA entering…
Dear Money Transfer Operator, I hope you are faring well in these unsafe times and you and your family & loved ones are safe and healthy. First of all, I want to thank you for your continued patience. Just to…
In these times, actions speak louder than words. What you can execute successfully, can literally mean the difference between surviving this crisis or being a victim to it. Here is a winning formula. Money transfer businesses are not exempt from…
A lot many money transfer operators, small and large are looking towards going digital. Not just going digital, but also are wondering on how to get on the bandwagon of all things crypto. The following article or video, whatever you…
The Process Learn The Language Fill Out the RAAS (Remittance-as-a-Service) Form Setup A Call Term Sheet Consideration Quote Referral Agreement Introduction to Service Provider So you have decided you would like to start a cross border payments company, whether this…
What Happens if You Do Money Transfer Transactions Without A License? When you do multiple money transfer transactions without a license, you are not only breaking the law! You’ve already broken the law. If you knowingly do this as a…
Regardless of the loan you’re applying for, all lenders should conduct a number of checks to determine whether you can comfortably afford the loan. As part of the Financial Conduct Authority’s (FCA) responsible lending rules, all financial institutions lending money…
Are you even allowed to rent a money transmitter license? A question I get often is if one can ‘rent’ a money transmitter license? The answer is essentially yes, but comes with a caveat. I did a short video on…