FAQ: Software

  1. How many locations under the PLH’s license in the USA are we allowed with starter package and Pro packages for sending? Can more be added without upgrading to the next higher package?
  2. On your website, it is mentioned, “e-Wallet solution (stored Value)- does not imply that a software wallet is provided. That is optional and comes under iOS & Android App or White-Label Website”. Can you please provide more details on this?
  3. Would the PLH be entitled to any revenue for intra-Africa (with no tie up agreements necessary) with or without the usage of the SP’s platform?
  4. If we select to sign up for the Web/Mobile platforms for payments originating from the USA (beyond just API), do we have the option to use the SP’s platform for the African corridors?
  5. If we opt for API only, will KYC/AML service continue to be provided by the PLH? Please confirm.
  6. Can we also market in the African corridors we are licensed in and send/receive payments between the African corridors?
  7. Would we be sub-licensed under the Principle License Holder (PLH)?
  8. What will be the cost if we will develop our App and Web and just pure API integration?
  9. How much is start-up and monthly cost and is there a Revenue sharing model?
  10. What is the breakdown of monthly recurring costs for RaaS and is there a minimum monthly cost?
  11. What is the customer fee structure and what is the revenue share model?
  12. How competitive is the daily FX offering?
  13. Have you prepared the pricing for the UK/EU subscription? (including all cost components affecting the unit transaction costs?)
  14. What is the status of the UK-EU RAAS program rollout?
  15. Our software is currently undergoing security testing, do we need to contract any other testing or quality assurance firms to meet the obligations of a sponsorship agreement?
  16. What is cryptocurrency-as-a-service?
  17. How long does it take to find a sponsor, finalize a contract, and get up and running?
  18. Regarding the API we have a vendor that helps with Tech Support. We will work with the bank directly to develop our back end. Does the licensed financial institution provide an API?
  19. Let’s say that I start the business, what would be my role in it? Will I be in charge of the back office?
  20. Who does the ID verification? Do I have to hire a third-party company for this, or is it included in the software?
  21. Is a payout partner provided only in the case of a white-labeled offering?
  22. Can we use our own platform and development stack if we have our own technology team, and not opt for your web/mobile app?
  23. How much does the Remittance-as-a-Service (RaaS) cost?
  24. In Remittance-as-a-Service (RaaS), will I just need to give you our branding and be ready to launch?
  25. Is an API provided for?
  26. Do I have to use their technology? Can I not use my own?
  27. Is it possible to get the interbank (mid-market rate)?
  28. Which country/countries is remittance-as-a-service (RaaS) available for?
  29. Do you provide access to banking for Remittance-as-a-Service (RaaS)?
  30. What would the service provider charge for a ready made solution (Web and Mobile Application)?
  31. Will the mobile/website app as provided by the solution provider require design and user experience?
  32. Do we have design control over the application?
  33. Will the mobile or web application developed need to be connected with the web services?
  34. Is handling crypto-currency already included in the pre-built application?
  35. Will the bank provide us with an API?
  36. What is a KYC and is there an API for it? Is it for the beneficiary?
  37. We want to apply for a white label solution, can you explain the benefits of using your API as compared to a pre-built API from the solution provider?
  38. How would we implement our branding and strategy within the pre-built application?
  39. Can we alter the colors and design with the pre-built application?
  40. Can we choose to abandon the pre-built application and create our own?
  41. Which functions would be present in the pre-built application and can we request certain functions to be added according to our needs?
  42. Which platform would the application be hosted on?
  43. How does a pre-built application look like compared to an API?
  44. Would we receive proper installation/onboarding support for the API once we choose a solution provider?
  45. What is the timeline followed by your company after you accept a potential client?
  46. Will I need to allocate tech or software staff to integrate the APIs?
  47. With regards to me as the owner of the business, how many departments do I need to run this (remittance as a service business) successfully?
  48. What documents do you need from us before we sign up to be your client?

This page was last updated on March 3, 2023.

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