Remittance as a Service (RaaS) is a cloud-based platform that allows businesses to offer money transfer services to their customers. RaaS providers offer a turnkey solution that includes the technology, infrastructure, and compliance support needed to operate a money transfer…
There are a number of challenges that the money transfer (remittance) industry faces when it comes to using cryptocurrency, including:
A remittance platform provider is a company that offers technology solutions for cross-border money transfer, commonly referred to as “remittances“. These companies provide a software platform that enables individuals and businesses to send and receive funds between countries in a…
In the wake of Brexit, one cannot simply passport an EU license to the United Kingdom and vice versa. Any payment institution that wishes to operate in the UK has to apply for a UK-specific API (Authorized Payment Institution) or…
A Small Payment Institution in the UK is issued by the FCA which currently regulates about 59,000 firms. A SPI license in the UK enables you to offer a lot including depositing and withdrawing money from a payment account, execution…
What is an SPI?A Small Payment Institution (SPI) license in the UK is issued to institutions who have meet the requirements laid out by the FCA. The main criterion according to which the company can obtain the SPI license as…
Money Transfer, or Remittances Business accounts for US$ 600+ Billion worth of transfers every year. Despite the COVID-19 times, eventually, long-term the value transferred every year will only increase. The reason you’re on this page is that you’re looking at…
The amount of money required to start a money transfer and remittance business will vary depending on the specific market and business model you are pursuing. Some factors that may influence the cost of starting such a business include the…
Start a Remittance Business: What is required? Setting up a money transmitter (remittance) business from scratch is no easy feat. Other than the obvious, there are many moving parts to the business that many would-be-founders are oblivious to. To highlight…