If you are a startup entrepreneur who is buzzing with an idea for an app, that would transfer money worldwide, make payments seamless, the question you probably are asking yourself: Do I need a license to send money all over the world?
The answer is Yes. Always a Yes.
To help explain the concept as to why it is a Yes, and why do you need a license, this short video will help clarify any lingering confusion. You might also want to watch this video: Understanding Custody of Funds in Money Transfer / Remittances.
If you’re looking to get license coverage for your business, we might be able to help you. Talk to us and see how we can work together.