If I want to launch an international money-transmission business, do I need licensing in every country?
Money Transmitter License
Asked by Question Bot01/Feb/20151 answer
1 Answer
F
Faisal Khan
Answered 01/Feb/2015
Not necessarily. If you do not want to go the authorized delegate (Agent) route in every country, what you can do is to work with a licensed operator and drive continuous referral traffic to their website (assuming they are working online).
The ISO (Independent Sales Organization) model does just this. It allows you to work with licensed MTOs in various countries, and let them deal with the complexities of setting up operations, etc. whilst you take care of marketing. The customer's transactions with the MTO will earn you commission on the sales (as per your setting).
Not many people know of this and they dismiss the ISO model as being some affiliate driven model. It is very much a money maker.
The ISO (Independent Sales Organization) model does just this. It allows you to work with licensed MTOs in various countries, and let them deal with the complexities of setting up operations, etc. whilst you take care of marketing. The customer's transactions with the MTO will earn you commission on the sales (as per your setting).
Not many people know of this and they dismiss the ISO model as being some affiliate driven model. It is very much a money maker.