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 the market, crypto based remittances becoming a reality and the inevitable issuance of digital fiat …
Will Small Money Transfer Operators Go Out Of Business? Read More »
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 bring you up to speed, my colleagues and I have been in contact with literally …
Open letter to small & medium money transfer operators Read More »
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 this crisis. No business is. The steps you take today to invest in pillars for …
5 things to do today to better your money transfer business in the US Read More »
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 prefer, explains the five essential steps (in my opinion) that will enable you to get …
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 is a wallet, a money transfer company like a remittance business, a crypto exchange or …
7 Steps to Starting a Company in the US with Money Transmitter License Coverage Read More »
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 financial intermediary, and you have exceeded the limits as imposed for non-professional vs professional (licensed) …
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 to customers need to consider a number of different factors to ensure that the applicant …
Affordability Checks: How Lenders Determine Eligibility For Loans Read More »
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 this as well: First of all, here is what the Money Transmitter License Application Process …
