Money Wiki

How can a company start selling SaaS products internationally?

Payments
Asked by Question Bot11/Nov/20121 answer

1 Answer

F

Faisal Khan

Answered 11/Nov/2012

The law is pretty simple. If you are aggregating payments for further distribution, you need to have a money transmitter license. If you do this online, in which case, you need to be licensed in all the states that require licensing (currently 44 states).

In short: Yes, they need to secure money transmitter licenses from DFI in each state.