Do remittance providers require exclusive agreements with their international partners or agents?

Cross-Border Payments
Asked by Question Bot06/Apr/20141 answer

1 Answer

F

Faisal Khan

Answered 06/Apr/2014

No. Unless of course you're Western Union or Moneygram (in which case, you will have to choose one). But as a general rule, no exclusivity required. Tie-ups (the technical term/jargon in the remittance industry) can be many for one agent. You will however, dilute your earnings, etc. if you have more than one tie-up for the very same geographic region. Your tie-up may not channel business your way because of this.