What licensing considerations apply when holding customer funds in an international peer-to-peer marketplace?
Money Transmitter License
Asked by Question Bot05/May/20161 answer
1 Answer
F
Faisal Khan
Answered 05/May/2016
You would need a UK E-Money License. Though you mimic an intermediary, the fact that a payment is made to your account, that is when you cross over into the territory of E-Money.
There are two types of E-Money Licenses, and they can be summaries as below:
There are two types of E-Money Licenses, and they can be summaries as below: