Somali MTOs in Minnesota – The Turkey Option!
In this video, I talk about the options that Somali Money Transfer Operators have with respect to Turkey. It is a good choice and a much more viable alternative to Dubai/UAE.
money transfer operator
Merchant Account! You Cannot Just Get It – You Have To Apply And Qualify For It
You cannot just ‘get’ a merchant account. It is not a feature that is available and provided by all processors or banks. Merchant acquiring is a process by which you must be underwritten by a bank. This means, a bank has to underwrite your merchant application and only then can you accept cards. This means, …
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5 Things To Do Today To Better Your Money Transfer Business In The US
1. Bank Account. This is the most requested feature from us. 2. ACH processing 3. Debit Card Processing for your money transfer business. 4. Going Digital (Platform, ready to go live today). In less than 2 weeks you can be up and running with a white-labeled website and system of your own. 5. More licensing …
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UK-EU to Africa Remittance Project: UK EMI, EMD & Turkish Settlement Bank for Transfers into Africa
If you’re looking to start the UK to Africa Money Transfer Service, you probably have an SPI (Small Payment Institution) license in the United Kingdom, but no bank account. I made this solution for both the small MTOs in the UK, as well as those who want to run their own white-label platform (as depicted …
Are You A Small Independent Money Transfer Operator That Is Struggling?
The world has over 5,000+ small independent money transfer operators. Each year, more and more of them, question themselves as to where they are heading in light of diminishing margins, more stringent requirements to operate a money transfer business, rising compliance costs and stiff competition from the neo players with seemingly unlimited deep pockets. In …
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10 Questions every Money Transfer Business should ask themselves?
I did a presentation on this long ago (The original presentation can be downloaded from here: Uberization of Money Transfer: 12 Questions every small and medium, independent money transfer operator should ask themselves). For months I’ve been thinking of doing an updated version of the presentation into an article, so here it is. It is …
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How many Money Transmitter Licenses do I require if I have to do business in the US?
Many people wrongly assume that only having one money transmitter license in the United States is good enough. It is not. If you intend you have customers signed up from all over the United States, then you needed licenses, in all the States. However, there is a caveat to this where you may require only …
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What is a Financial Intermediary?
What is a Financial Intermediary and why do they need to be licensed? Transcription: My name is Faisal Khan. I’m a banking and a payments consultant and I’m here to answer your questions. So, a question I got recently is, you know, what is a financial intermediary, and why is it necessary to be licensed …