I have an idea for an app. Do I need a license to send money all over the world?
If you are a startup entrepreneur who is buzzing with an idea for an app, that would transfer money worldwide, make payments seamless, the question you probably are asking yourself: Do I need a license to send money all over the world?
The answer is Yes. Always a Yes.
To help explain the concept as to why it is a Yes, and why do you need a license, this short video will help clarify any lingering confusion. You might also want to watch this video: Understanding Custody of Funds in Money Transfer / Remittances
If you’re looking to get license coverage for your business, we might be able to help you. Talk to us and see how we can work together.
This page was last updated on September 1, 2022.