White-label refers to a product or service that is produced by one company and rebranded by another company to make it appear as if it was created by the latter. In the software industry, white-label software refers to software that is licensed to a third-party company, which can then resell the software to its own customers under its own brand. This allows the third-party company to offer a software solution to its customers without having to invest the time and resources in developing the software themselves.
In the context of the money transfer industry, white-label refers to a service provided by a company (the white-label provider) that allows another company (the reseller) to offer money transfer services to their customers under their own brand. The reseller company uses the white-label provider’s technology platform, compliance infrastructure, and licenses to facilitate the money transfers, and the customers of the reseller are unaware that the underlying service is provided by a third party. This allows the reseller to offer money transfer services to their customers quickly and cost-effectively, without having to develop and maintain the infrastructure and technology themselves.
In the context of money services business (MSB), white-label refers to a service provided by a company (the white-label provider) that allows another company (the reseller) to offer MSB services to its customers under its own brand. The reseller company uses the white-label provider’s compliance infrastructure, licensing, and technology platform to facilitate the MSB services such as money transfer, check cashing, currency exchange, and remittance. The customers of the reseller are unaware that the underlying service is provided by a third party. This allows the reseller to offer MSB services to its customers quickly and cost-effectively, without having to develop and maintain the compliance and technology infrastructure required for MSB operations.
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This page was last updated on January 16, 2023.
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