The proposal focuses only on the remittance part. Banking as a Service (BaaS) providers, to the best of current knowledge, do not offer international remittances or agent coverage for Kiosks. Therefore, a Remittance-as-a-Service Provider is needed to obtain agent status and facilitate international money movement. It’s important to be aware of certain advisories regarding sponsorship versus authorized agents and domain naming for authorized agents under US Money Transmitter Licenses in online businesses.
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This page was last updated on January 30, 2024.
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