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, …
Merchant Account! You Cannot Just Get It – You Have To Apply And Qualify For It Read More »
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 …
5 Things To Do Today To Better Your Money Transfer Business In The US Read More »
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 …
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 …
Are You A Small Independent Money Transfer Operator That Is Struggling? Read More »
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 …
10 Questions every Money Transfer Business should ask themselves? Read More »
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 …
How many Money Transmitter Licenses do I require if I have to do business in the US? Read More »
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 …
Episode 7 – What factors are important to you when sending money abroad? When choosing a money transfer company, what are top things one looks for? Well, worry no more. Having interviewed over 1,700+ people, here are some findings.
