Money-Transfer-as-a-Service (or MTaaS) is essentially no different than Remittance as a Service (RaaS) except it is not restricted to remittances, i.e. person-to-person transfers.
Money Transfer-as-a-Service is a white-labeled solution that is offered to would-be startups who would like to engage in the business of typically cross-border money transfer solutions. Strictly speaking, Money Transfer-as-a-Service can also be applied to the transmission of money across state lines (as in the United States for example).
Is Money Transfer-As-A-Service Like Creating a Western Union?
It can be, but it is not limited to, being a business related to person-to-person remittances only. Money Transfer-as-a-Service can easily be used by companies engaged in the Business-to-Business (B2B) or Business-to-Consumer (B2C) space. Even a combination of these two, like B2B2C.
No matter what your focus, if you are looking to enter into the licensed and highly regulated world of money transfer, then money transfer-as-a-service might just be the right thing for you.
Much of the offering has already been explained in Remittance-as-a-Service. If you would like to learn more on how money transfer-as-a-service can be beneficial to your business and how it can enable you to go to market faster, please fill out the form below.
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This page was last updated on May 26, 2023.
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