Does Kickstarter require a money transmitter license to operate?
Money Transmitter License
Asked by Question Bot04/Feb/20121 answer
1 Answer
F
Faisal Khan
Answered 04/Feb/2012
They use Amazon Payments to process their transactions, so I guess they are piggy-backing on that premise (money transmission license).
Their Terms of Use page (See: http://www.kickstarter.com/terms...) states under the clause...
Projects: Fund-Raising and Commerce
So since, they are not handling the money in any way/shape or form, they would not be requiring a money transmission license.
Their Terms of Use page (See: http://www.kickstarter.com/terms...) states under the clause...
Projects: Fund-Raising and Commerce
All funds are collected for Project Creators by Amazon Payments. Kickstarter does not, at any time, receive or hold any monies intended for Project Creators.
So since, they are not handling the money in any way/shape or form, they would not be requiring a money transmission license.