So you want to start a money transfer service business, but you are overwhelmed by all the work, capital, licensing, systems, software, procedures, human resources, etc. that is required to make it happen. Well, 10 years ago I came up with the concept Remittance-as-a-Service! It is exactly that, remittance in a box!
This short video explains how we can help.
Seriously, if you are going to go into the money transfer business, you might want to read up on this: 10 Questions every Money Transfer Business should ask themselves?
Hello. My name is Faisal Khan. I am a banking and payment consultant. So, you want to start a money transfer company and you don’t want to get licenses? You may not have the money for it, you may not have the patience for it, you may not have both. But, you are good at marketing. You think you have a connection to a diaspora country that you belong to, maybe Nigeria, Kenya. Pakistan, India, Philippines, Bangladesh. Mexico, Brazil, Argentina – doesn’t matter. Maybe all of them, who knows. But you want to start money transfer from the most competitive economy in the world, the most the largest economy in the world – the United States to your country.
Let’s say the example is from the United States to Nigeria. So, yes, we do offer this as a service and we call it remittance as a service. And just like you have software as a service or platform as a service or infrastructure as a service, we have remittance as a service.
Long story short, we find you a sponsor in the United States for a license. We find you a corresponding sponsor in Nigeria to terminate with. We put everything together, you can program via the API if you know how to program. If not, a white label solution can be provided to you. End to end everything is taken care of. Banking, license, insurance, surety bonding, compliance, KYC, CIP, anti-money laundering, terrorist financing, transaction settlement, Nostro, Vostro – every single thing is taken care of. You simply go live with your product.
If this is something that is of interest to you, I’m going to put a link to a very short article you can read (linked in the third paragraph above), and if you’re interested, you can contact us and we can talk further. Till next time, have a good one.
If you’re interested in starting your own money transfer as a service, talk to us. Schedule a free, 15-minute call below!
This page was last updated on January 12, 2020.