Is there a special type of company we need to form in order to be able to do Remittance-as-a-Service?

There is no restriction. You will be treated as an ISO (Independent Sales Organization). You will not be getting a license in your name. You would essentially be ‘sponsored’ for a license that someone already has and they would be the program manager for your company’s product/service. There is no restriction on the ‘type’ of company you might have. An LLC is as good as an Inc. It is important to note, you are not operating as a money transfer company. The PLH (Principal License Holder) is. They have the licenses. What they are essentially doing is running the program, under their licenses, for your brand.

You can even be based outside of the United States. There is no compulsion to be incorporated and present in the United States.

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This page was last updated on February 20, 2023.

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