[{"t":"Why Does a Solution Provider Want an MSA Signed Before the Bank Approves Me?","u":"why-does-a-solution-provider-want-an-msa-signed-before-the-bank-approves-me","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Banking Access","Bank Onboarding for Regulated Firms"],"p":[],"d":"2026-10-19","x":"We hear this often, and the reasoning behind it is simple once you see the bank\u0026#39;s side. A solution provider with…"},{"t":"Can central banks regulate cryptocurrencies to the same extent as fiat currencies?","u":"can-central-banks-regulate-cryptocurrencies-to-the-same-extent-as-fiat-currencies","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulators"],"p":[],"d":"2026-01-08","x":"Central banks primarily regulate the currency that they issue, which is their own fiat currency . When it comes to…"},{"t":"What type of license is required if acting as an intermediary in an FX transaction between two parties?","u":"what-type-of-license-is-required-if-acting-as-an-intermediary-in-an-fx-transaction-between-two-parti","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":[],"d":"2025-12-18","x":"Yes, you would need a money transmitter license. This requirement arises because you are acting as a financial…"},{"t":"Do large banks and institutions have enough physical cash to handle multi-billion-dollar cash transactions (e.g., cash-based M\u0026A), or is it mostly an accounting mechanism?","u":"do-large-banks-and-institutions-have-enough-physical-cash-to-handle-multi-billion-dollar-cash-transa","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Accounts"],"p":[],"d":"2025-12-16","x":"It is accounting bookkeeping entries. If the banks/institutions in question have enough cash-on-hand, i.e. ledger…"},{"t":"How does the US government send money to other countries—by check, bank transfer, or cash?","u":"how-does-the-us-government-send-money-to-other-countriesby-check-bank-transfer-or-cash","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","USD Clearing"],"p":["British Pound Sterling","Germany"],"d":"2025-12-16","x":"Allow me to give a simpler example, of how the US pays other countries and vice versa. Let’s say you are three friends,…"},{"t":"Why doesn’t Coinbase allow instant USD withdrawals to bank accounts or PayPal after selling crypto?","u":"why-doesnt-coinbase-allow-instant-usd-withdrawals-to-bank-accounts-or-paypal-after-selling-crypto","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Fiat Off-Ramps","Crypto-to-Fiat Conversion"],"p":["United States Dollar"],"d":"2025-12-08","x":"Coinbase\u0026#39;s business model thrives when users keep their money—whether in the form of cryptocurrency or fiat…"},{"t":"I want to get into the remittance business for Nigeria – how do I get started?","u":"i-want-to-get-into-the-remittance-business-for-nigeria-how-do-i-get-started","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":["Africa","Anglophone Africa"],"d":"2025-10-27","x":"May we suggest the following on YouTube: A nostro account and a vostro account are two different types of bank accounts…"},{"t":"How does Correspondent Banking work?","u":"how-does-correspondent-banking-work","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Banking Relationships","Correspondent Tie-Ups"],"p":[],"d":"2025-10-21","x":"Correspondent banking is a type of banking relationship in which one financial institution (the “correspondent bank”)…"},{"t":"Does the Bank Account Verification also include ID verification?","u":"does-the-bank-account-verification-also-include-id-verification","c":"AML Programs, KYC and Compliance Operations","s":["Identity Verification (IDV)","Know Your Customer (KYC)"],"p":[],"d":"2025-10-21","x":"Yes. It does. However, it is recommended to do ID verification for higher limits. Lower limits do not require a photo ID…"},{"t":"Do we need a correspondent tie-up agreement, if there is a licensed financial entity involved, like an exchange, or another Money Services Business?","u":"do-we-need-a-correspondent-tie-up-agreement-if-there-is-a-licensed-financial-entity-involved-like-an","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Tie-Ups","Correspondent Banking Relationships"],"p":[],"d":"2025-10-21","x":"In the event you are receiving money (as an intermediary) from Exchanges or other non-banking financial institutions,…"},{"t":"Can offshore accounts be traced?","u":"can-offshore-accounts-be-traced","c":"Money Laundering and Financial Crime","s":["Asset Tracing","Financial Crime"],"p":[],"d":"2025-10-21","x":"The answer is yes, but it is not easy. Every account can be traced, but it can be difficult to identify all of the…"},{"t":"Can a state-chartered bank operate in another state in which it is not licensed?","u":"can-a-state-chartered-bank-operate-in-another-state-in-which-it-is-not-licensed","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensable Activities","Licensing Strategy"],"p":[],"d":"2025-10-21","x":"It depends on the specific laws and regulations of the states involved. In general, state-chartered banks are licensed…"},{"t":"How long does it take to transfer the money to the bank?","u":"how-long-does-it-take-to-transfer-the-money-to-the-bank","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Clearing","Account-to-Account Payments"],"p":[],"d":"2025-10-21","x":"One business day. Friday processing after 3 PM will be credited on the next working day."},{"t":"Is nationwide coverage guaranteed?","u":"is-nationwide-coverage-guaranteed","c":"Merchant Accounts, Processors and Gateways","s":["Payment Service Providers (PSP)","Payment Processors"],"p":[],"d":"2025-10-17","x":"No, nationwide coverage is not guaranteed. We have to still present your case to the solution provider for approval.…"},{"t":"As a fresh startup, what is the probability of being sponsored by a bank or an exchange company?","u":"as-a-fresh-startup-what-is-the-probability-of-being-sponsored-by-a-bank-or-an-exchange-company","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Fintech Banking Relationships","Sponsor Banks"],"p":["Americas","Canada"],"d":"2025-10-17","x":"Yes, if you incorporate you can get a USD account, you can also get a CAD account. But you cannot sign up customers. The…"},{"t":"Does MSB in Montana has the same value as MSB in Canada?","u":"does-msb-in-montana-has-the-same-value-as-msb-in-canada","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":["Canada","Montana"],"d":"2025-06-20","x":"Montana does not have a Money Transmitter License; it is simply an MSB Status. You can use it within the state of…"},{"t":"Do banks maintain records of the total deposits made into an account over a specific time period?","u":"do-banks-maintain-records-of-the-total-deposits-made-into-an-account-over-a-specific-time-period","c":"How Banks Work","s":["Banks","Bank Records"],"p":[],"d":"2025-06-08","x":"Yes, you can obtain a one-year bank account statement specifically for deposits into your account. Here\u0026#39;s how: 1. Online…"},{"t":"Can bitcoins be sent directly from one wallet to another without using an exchange?","u":"can-bitcoins-be-sent-directly-from-one-wallet-to-another-without-using-an-exchange","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Crypto Wallets"],"p":["Bitcoin"],"d":"2025-06-08","x":"Yes, it is absolutely possible to send Bitcoin directly from your wallet to another wallet without going through an…"},{"t":"What are standard AML and KYC compliance requirements for crypto exchanges?","u":"what-are-standard-aml-and-kyc-compliance-requirements-for-crypto-exchanges","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","Know Your Customer (KYC)"],"p":[],"d":"2025-06-08","x":"In addition to the standard KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance requirements, one of the…"},{"t":"Are international wire transfer fees fixed amounts or percentage-based charges?","u":"are-international-wire-transfer-fees-fixed-amounts-or-percentage-based-charges","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Intermediary Bank Fees"],"p":["Indian Rupee","United States Dollar"],"d":"2025-06-08","x":"When banks handle international transfers, particularly through correspondent banks , there are typically two types of…"},{"t":"Why do some US banks restrict or block international wire transfers?","u":"why-do-some-us-banks-restrict-or-block-international-wire-transfers","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Americas","Developed Markets"],"d":"2025-06-08","x":"Predominantly risk exposure. Person-to-person (P2P) transfers are seen as high-risk transactions for most banks (albeit…"},{"t":"How do authorities trace and prosecute money laundering activities involving cryptocurrencies like Bitcoin?","u":"how-do-authorities-trace-and-prosecute-money-laundering-activities-involving-cryptocurrencies-like-b","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":["Bitcoin"],"d":"2025-06-08","x":"Law enforcement agencies have access to specialized tools provided by various compliance companies in the AML…"},{"t":"Is Bitcoin better understood as a payment network, a currency, or both?","u":"is-bitcoin-better-understood-as-a-payment-network-a-currency-or-both","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin","China"],"d":"2025-06-08","x":"This is a nuanced question. Is Bitcoin an innovative payment network and a new kind of money? Yes, in many ways, it is.…"},{"t":"What alternatives exist to PayPal and Payoneer for international online payments?","u":"what-alternatives-exist-to-paypal-and-payoneer-for-international-online-payments","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Getting Paid from Abroad"],"p":["Bangladesh","Pakistan"],"d":"2025-06-08","x":"Tl;dr: Wise, ElevatePay, USDC, USDT. About a decade ago, platforms like PayPal and Payoneer were essential for many…"},{"t":"How can someone send money to another person without revealing all personal details?","u":"how-can-someone-send-money-to-another-person-without-revealing-all-personal-details","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Remittances"],"p":["Bitcoin","Tether (USDT)"],"d":"2025-06-08","x":"The question is quite broad and the answer can vary depending on your country and whether you\u0026#39;re making a local or…"},{"t":"Are there services that allow Bitcoin to be exchanged for cash and then transferred via PayPal or similar platforms?","u":"are-there-services-that-allow-bitcoin-to-be-exchanged-for-cash-and-then-transferred-via-paypal-or-si","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto-to-Fiat Conversion","Crypto Payments"],"p":["Bitcoin"],"d":"2025-06-08","x":"There are numerous services available that facilitate such transactions, though whether they operate legally is…"},{"t":"How much money do you need for a new banking license in the United States?","u":"how-much-money-do-you-need-for-a-new-banking-license-in-the-united-states","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensing Costs","Licensing Applications"],"p":["Americas","Developed Markets"],"d":"2025-04-03","x":"It is difficult to provide a specific dollar figure for the minimum amount of money that is required to apply for a new…"},{"t":"Are there any restrictions on MSB licenses that we should know about?","u":"are-there-any-restrictions-on-msb-licenses-that-we-should-know-about","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensable Activities","Principal License Holders"],"p":[],"d":"2025-04-03","x":"The restrictions are provided to you by the MSB PLH themselves (Principal License Holder). Depending on who is going to…"},{"t":"What are some common misconceptions regarding MTL?","u":"what-are-some-common-misconceptions-regarding-mtl","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","State-by-State MTL Requirements"],"p":[],"d":"2025-02-19","x":"MTL wouldn’t have prevented high-profile fraud anyway, so why bother? While it may not stop every fraud, regulators use…"},{"t":"What are MTL Bonding and Financial Requirements?","u":"what-are-mtl-bonding-and-financial-requirements","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","MTL Bonding and Financial Requirements"],"p":[],"d":"2025-02-19","x":"What is a “bond” in the MTL context? Many states require money transmitters to post a surety bond—essentially insurance…"},{"t":"How do fines or penalties typically work?","u":"how-do-fines-or-penalties-typically-work","c":"Regulators, Enforcement and Regulatory Change","s":["Regulatory Fines","Regulatory Penalties"],"p":["Maine","Texas"],"d":"2025-02-18","x":"If a state determines you’ve been transmitting funds without proper licensing, they can: Impose a fine (sometimes…"},{"t":"What is the Model Money Transmitter Law?","u":"what-is-the-model-money-transmitter-law","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":[],"d":"2025-02-18","x":"It’s a standardized framework intended to unify and streamline MTL requirements across different states. It aims to…"},{"t":"Why are payroll processors suddenly concerned about MTL?","u":"why-are-payroll-processors-suddenly-concerned-about-mtl","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","State-by-State MTL Requirements"],"p":[],"d":"2025-02-18","x":"Although payroll processing was often overlooked, a few high-profile fraud incidents have increased scrutiny. Regulators…"},{"t":"What is Money Transmitter Licensing (MTL)?","u":"what-is-money-transmitter-licensing-mtl","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":[],"d":"2025-02-18","x":"Money Transmitter Licensing (MTL) is a regulatory framework that governs the transfer of money by non-bank entities .…"},{"t":"What are Rollups","u":"what-are-rollups","c":"Blockchain and Distributed Ledger Technology","s":["Rollups","Blockchain"],"p":[],"d":"2025-02-14","x":"Definition Rollups are Layer 2 scaling solutions for blockchain networks that process transactions off-chain and then…"},{"t":"What happens to cryptocurrency once it is converted back into fiat currency?","u":"what-happens-to-cryptocurrency-once-it-is-converted-back-into-fiat-currency","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto-to-Fiat Conversion","Fiat Off-Ramps"],"p":[],"d":"2025-02-02","x":"Usually, there is someone else, who wants to do the reverse transactions, i.e., provide fiat and get cryptocurrency. So…"},{"t":"Is there typically a fee for receiving an incoming wire transfer?","u":"is-there-typically-a-fee-for-receiving-an-incoming-wire-transfer","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Inward Remittances"],"p":[],"d":"2025-01-02","x":"It can. Depending on the payment network and the banks involved, you could be charged for the wire fee and the…"},{"t":"How Much Money is Needed to Apply for a New Banking Charter?","u":"how-much-money-is-needed-to-apply-for-a-new-banking-charter","c":"Central Banks and Bank Supervision","s":["Bank Charters","New Banking Licenses"],"p":["Americas","Developed Markets"],"d":"2024-12-18","x":"The amount of money that is required to apply for a new banking charter in the United States will depend on a range of…"},{"t":"Who coined the term \"Remittance-as-a-Service\" or RaaS?","u":"who-coined-the-term-remittance-as-a-service-or-raas","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Industry","Fintech Business Models"],"p":[],"d":"2024-12-17","x":"In 2013, Faisal Khan , a prominent figure in the financial services industry and CEO of Faisal Khan LLC, introduced the…"},{"t":"What does it mean when someone says they are \"farming us\" (or “farm us”) in the crypto space?","u":"what-does-it-mean-when-someone-says-they-are-farming-us-or-farm-us-in-the-crypto-space","c":"Fraud and Scams","s":["Scam Awareness","Crypto Scams"],"p":[],"d":"2024-12-10","x":"In the crypto community, the phrase \u0026#34;to farm us\u0026#34; often refers to exploitative practices where a person or entity…"},{"t":"Are hawala brokers regulated by governments, and why are hawala systems tolerated despite misuse risks?","u":"are-hawala-brokers-regulated-by-governments-and-why-are-hawala-systems-tolerated-despite-misuse-risk","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Hawala","Informal Value Transfer Systems (IVTS)"],"p":[],"d":"2024-12-02","x":"In a few countries, Hawala brokers are regulated. But all in all it still remains to be an undocumented transfer. I did…"},{"t":"What are Authorized Push Payment (APP) Scams?","u":"what-are-authorized-push-payment-app-scams","c":"Fraud and Scams","s":["Authorized Push Payment (APP) Fraud","Payment Fraud"],"p":[],"d":"2024-11-11","x":"TL;DR: Authorized Push Payment (APP) scams occur when fraudsters deceive victims into making payments willingly from…"},{"t":"How to Verify Investment Advisor Credentials","u":"how-to-verify-investment-advisor-credentials","c":"Fraud and Scams","s":["Fraud Prevention","Scam Awareness"],"p":["United Kingdom","United States"],"d":"2024-10-14","x":"TL;DR: Always verify that your investment advisor is licensed and reputable. Learn how to check credentials and avoid…"},{"t":"What free resources are available for learning about AML regulations?","u":"what-free-resources-are-available-for-learning-about-aml-regulations","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Policies and Procedures"],"p":["Europe","European Union"],"d":"2024-09-02","x":"The FATF ( Financial Action Task Force ) has a lot of recommendations that FATF member countries have to follow else…"},{"t":"Is it acceptable to request donations on a website by publicly listing personal bank account details?","u":"is-it-acceptable-to-request-donations-on-a-website-by-publicly-listing-personal-bank-account-details","c":"Alternative Finance and Crowdfunding","s":["Crowdfunding"],"p":["United States"],"d":"2024-08-09","x":"Yes, it is generally acceptable to take donations on your website, but it’s important to consider local regulations and…"},{"t":"If a Pakistani citizen launches a crypto exchange, can it operate locally without SBP regulation?","u":"if-a-pakistani-citizen-launches-a-crypto-exchange-can-it-operate-locally-without-sbp-regulation","c":"Crypto and VASP Licensing","s":["Crypto Regulation","Starting a Crypto Exchange or VASP"],"p":["Pakistan","Pakistan Exchange Companies"],"d":"2024-08-09","x":"No, you\u0026#39;re not correct. While you can certainly create a crypto exchange that operates solely within the crypto world,…"},{"t":"Why are intermediaries like PayPal or Venmo still needed if Bitcoin transactions can be pseudonymous?","u":"why-are-intermediaries-like-paypal-or-venmo-still-needed-if-bitcoin-transactions-can-be-pseudonymous","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments"],"p":["Bitcoin"],"d":"2024-08-09","x":"It\u0026#39;s not that we necessarily need PayPal or Venmo to send money; these platforms are essentially their own ecosystems.…"},{"t":"What is the safest and most efficient way to move large sums of money between two European countries?","u":"what-is-the-safest-and-most-efficient-way-to-move-large-sums-of-money-between-two-european-countries","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Developed Markets","EMEA"],"d":"2024-08-07","x":"SEPA transfers work well. If you consider the amount significant, it would be a good idea to visit your bank branch and…"},{"t":"Can a wire transfer be stopped or recalled after it has been sent internationally or out of state?","u":"can-a-wire-transfer-be-stopped-or-recalled-after-it-has-been-sent-internationally-or-out-of-state","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Large International Transfers"],"p":[],"d":"2024-08-07","x":"The ability to cancel a wire transfer depends on the country and the type of transfer sent. Generally, you can cancel or…"},{"t":"What information does a typical remittance slip contain?","u":"what-information-does-a-typical-remittance-slip-contain","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2024-08-06","x":"Generally speaking, a remittance slip will contain the following information as a minimum (albeit results can vary…"},{"t":"Can the source and destination of a wire transfer be tracked by third parties?","u":"can-the-source-and-destination-of-a-wire-transfer-be-tracked-by-third-parties","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Wire Transfers","Payment Infrastructure"],"p":[],"d":"2024-08-06","x":"Not anyone. It is possible to track a payment (both origin, destination, and transit) in each given network, provided…"},{"t":"Is it possible to transfer funds from Europe to the US without involving banks at all?","u":"is-it-possible-to-transfer-funds-from-europe-to-the-us-without-involving-banks-at-all","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Alternative Finance","Informal Value Transfer Systems (IVTS)"],"p":["Developed Markets","EMEA"],"d":"2024-04-02","x":"If you are implying fiat, then yes, the method would be Hawala . In a Hawala system, assuming you adopt a cash-based…"},{"t":"How do you get a Forex trading license in the UK, and what does it involve?","u":"how-do-you-get-a-forex-trading-license-in-the-uk-and-what-does-it-involve","c":"High-Risk Industries","s":["High-Risk Verticals"],"p":["Developed Markets","EMEA"],"d":"2024-03-27","x":"In the United Kingdom, forex trading is regulated by the Financial Conduct Authority (FCA) . The FCA is a…"},{"t":"How common is it for law enforcement to investigate wire transfer transactions?","u":"how-common-is-it-for-law-enforcement-to-investigate-wire-transfer-transactions","c":"Money Laundering and Financial Crime","s":["Financial Crime","Financial Crime Enforcement"],"p":[],"d":"2024-03-02","x":"No. It is not. In most cases, wire transfers are usually investigated by the compliance and/or investigative units…"},{"t":"In what ways could cryptocurrencies potentially replace or bypass SWIFT?","u":"in-what-ways-could-cryptocurrencies-potentially-replace-or-bypass-swift","c":"International Wire Transfers and Large Transfers","s":["SWIFT Transfers","International Wire Transfers"],"p":[],"d":"2024-03-02","x":"Theoretically, they can. In reality, it won’t happen. What might happen is that SWIFT will embrace blockchain technology…"},{"t":"Who has the authority to issue fiat currency?","u":"who-has-the-authority-to-issue-fiat-currency","c":"Economics, Inflation and Monetary Policy","s":["Currency","Fiat Currency"],"p":[],"d":"2024-03-02","x":"The Government does. The word \u0026#34; fiat \u0026#34; refers to a decree or an order issued by an authority or government with the…"},{"t":"How many Layers are in a Blockchain?","u":"how-many-layers-are-in-a-blockchain","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Blockchain Technology"],"p":[],"d":"2024-02-16","x":"In the blockchain ecosystem, the concept of \u0026#34;layers\u0026#34; is used to describe different levels of the technology stack, each…"},{"t":"Why is understanding IRS Title 31 Audit crucial for BTM operators?","u":"why-is-understanding-irs-title-31-audit-crucial-for-btm-operators","c":"AML Programs, KYC and Compliance Operations","s":["IRS Title 31 Audits","Bank Secrecy Act (BSA)"],"p":[],"d":"2024-02-16","x":"Entering the Bitcoin ATM (BTM) business necessitates a deep understanding of the IRS Title 31 Audit requirements due to…"},{"t":"Is it possible to wire money directly between banks in Russia and the United States?","u":"is-it-possible-to-wire-money-directly-between-banks-in-russia-and-the-united-states","c":"Sanctions, Embargoes and Screening","s":["Sanctions","Sanctioned Countries"],"p":["Restricted Jurisdictions","Russia"],"d":"2024-02-02","x":"At present, the answer is no. The Russian banking system has been sanctioned by the United States Government (at the…"},{"t":"Why does the gas fee in the cryptocurrency world fluctuate while transaction fees in the fiat world remain fixed?","u":"why-does-the-gas-fee-in-the-cryptocurrency-world-fluctuate-while-transaction-fees-in-the-fiat-world","c":"Blockchain and Distributed Ledger Technology","s":["Gas Fees","Blockchain"],"p":[],"d":"2024-02-01","x":"The fluctuation of gas fees in the cryptocurrency world, particularly on networks like Ethereum, as opposed to the fixed…"},{"t":"Do we need to be licensed in any capacity, such as a money transmitter?","u":"do-we-need-to-be-licensed-in-any-capacity-such-as-a-money-transmitter","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":[],"d":"2024-01-30","x":"Yes, if you are collecting and distributing money on behalf of others, you would be classified as a Money Services…"},{"t":"Is a money transmitter license required for the operation of closed-loop cards in the United States?","u":"is-a-money-transmitter-license-required-for-the-operation-of-closed-loop-cards-in-the-united-states","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["Americas","Developed Markets"],"d":"2024-01-29","x":"In the United States, the need for a money transmitter license for closed-loop cards depends on various factors,…"},{"t":"Does the tax authority know exactly how much money individuals hold in bank accounts?","u":"does-the-tax-authority-know-exactly-how-much-money-individuals-hold-in-bank-accounts","c":"Tax and Financial Reporting","s":["Tax"],"p":[],"d":"2024-01-05","x":"In almost every country, the answer is no. The tax office does not know how much is in your account, but they can…"},{"t":"Why is Bitcoin priced higher in emerging markets?","u":"why-is-bitcoin-priced-higher-in-emerging-markets","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Capital Controls","Currency Controls"],"p":["Bitcoin","Emerging Markets"],"d":"2024-01-05","x":"tl;dr: due to capital outflow controls. Well, the answer is pretty simple. It\u0026#39;s not that complicated to understand…"},{"t":"Is a license required to operate crypto-related services in the US?","u":"is-a-license-required-to-operate-crypto-related-services-in-the-us","c":"Crypto and VASP Licensing","s":["Crypto Regulation","Crypto Licensing"],"p":["Americas","Developed Markets"],"d":"2024-01-05","x":"Disclaimer: I am not a lawyer. I\u0026#39;m going to give you my opinion of what I think is correct. So if you are doing a crypto…"},{"t":"What are the costs involved in registering as an MSB or money transmitter in the United States?","u":"what-are-the-costs-involved-in-registering-as-an-msb-or-money-transmitter-in-the-united-states","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Transmitter Licenses (MTL)"],"p":["Americas","North America"],"d":"2024-01-02","x":"The costs for a money transmitter license ( MTL ) vary from state to state. Money Services Business ( MSB ) is a…"},{"t":"What does an anti-money laundering certification typically cost?","u":"what-does-an-anti-money-laundering-certification-typically-cost","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Training","Learning Resources"],"p":[],"d":"2024-01-02","x":"Depends from free to $99 to $5,000. There is no standard anti-money laundering certificate. ACAMS costs about $2,000 (or…"},{"t":"How can someone check if their identity has been used in a fraudulent wire transfer?","u":"how-can-someone-check-if-their-identity-has-been-used-in-a-fraudulent-wire-transfer","c":"Fraud and Scams","s":["Payment Fraud","Wire Fraud"],"p":[],"d":"2024-01-02","x":"You honestly cannot. If your name \u0026amp;/or credentials have been used for a fraudulent money wire transfer that is not…"},{"t":"What defines a RaaS (Remittance-as-a-Service) Provider, and how does it differ from a traditional money transfer company?","u":"what-defines-a-raas-remittance-as-a-service-provider-and-how-does-it-differ-from-a-traditional-money","c":"Money Transfer Business and MTOs","s":["Remittance-as-a-Service (RaaS)","Money Transfer Operators (MTO)"],"p":[],"d":"2023-12-31","x":"A RaaS (Remittance-as-a-Service) provider and a traditional money transfer company offer similar services — facilitating…"},{"t":"Who coined the term Money Transfer-as-a-Service or MTaaS?","u":"who-coined-the-term-money-transfer-as-a-service-or-mtaas","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Industry","Fintech Business Models"],"p":[],"d":"2023-12-31","x":"Money Transfer as a Service (MTaaS) is an innovative concept in the financial technology sector, pioneered by Faisal…"},{"t":"What is payment clearing?","u":"what-is-payment-clearing","c":"Payments (General)","s":["Payment Terminology","Payment Basics"],"p":[],"d":"2023-12-11","x":"Payment clearing is a crucial process in the world of banking and payments, involving the transfer and settlement of…"},{"t":"What is trade finance?","u":"what-is-trade-finance","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Cross-Border B2B Payments","Export Finance"],"p":[],"d":"2023-12-11","x":"Trade finance is a crucial aspect of international business, facilitating cross-border trade and money transfers. Here\u0026#39;s…"},{"t":"What is factoring?","u":"what-is-factoring","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Factoring","Accounts Receivable"],"p":[],"d":"2023-12-11","x":"Factoring in the context of banking, remittances, and cross-border payments is a financial transaction where a business…"},{"t":"What is collateralized pre-funding?","u":"what-is-collateralized-pre-funding","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Cross-Border B2B Payments","Import Payments"],"p":[],"d":"2023-12-11","x":"Collateralized pre-funding in the context of banking, payments, and cross-border money transfers is a financial…"},{"t":"What is non-collateralized pre-funding?","u":"what-is-non-collateralized-pre-funding","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Cross-Border B2B Payments","Import Payments"],"p":[],"d":"2023-12-11","x":"In banking and payments, particularly in the context of cross-border transactions, \u0026#34;non-collateralized pre-funding\u0026#34;…"},{"t":"If you're a billing aggregator and you're simply providing billing information but not handling the payments, are you considered a money services business?","u":"if-youre-a-billing-aggregator-and-youre-simply-providing-billing-information-but-not-handling-the-pa","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":["Americas","North America"],"d":"2023-12-10","x":"No, if you\u0026#39;re a billing aggregator in the United States that is solely providing billing information and not handling…"},{"t":"How can someone control impulsive spending habits?","u":"how-can-someone-control-impulsive-spending-habits","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Consumer Payment Problems"],"p":[],"d":"2023-12-05","x":"For a lot of people, the following has worked: Leave your wallet at home when going out; take bare minimum cash and a…"},{"t":"What is an Online vs. Offline Transaction?","u":"what-is-an-online-vs-offline-transaction","c":"Payments (General)","s":["Payment Basics","Payment Terminology"],"p":[],"d":"2023-12-02","x":"Online Transactions Definition: An online transaction, in the realm of banking and finance, refers to any exchange or…"},{"t":"What happens when the government raises the borrowing rate to curb inflation?","u":"what-happens-when-the-government-raises-the-borrowing-rate-to-curb-inflation","c":"Economics, Inflation and Monetary Policy","s":["Interest Rates","Monetary Policy"],"p":[],"d":"2023-11-23","x":"When the government raises interest rates to curb inflation, it typically influences a range of borrowing rates. Here\u0026#39;s…"},{"t":"What is Product-Market fit?","u":"what-is-product-market-fit","c":"Business Strategy, Case Studies and Lessons Learned","s":["Product-Market Fit","Startup Advice"],"p":[],"d":"2023-11-21","x":"Product-Market Fit is a concept that\u0026#39;s really important in the world of business, especially for startups. Imagine…"},{"t":"What are the state requirements for authorized delegates in terms of managing funds?","u":"what-are-the-state-requirements-for-authorized-delegates-in-terms-of-managing-funds","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Authorized Delegates","Principal and Agent Models"],"p":["Americas","North America"],"d":"2023-11-18","x":"Is it obligatory to send funds through a Payment Service Provider (PSP), or is it permissible to use our own bank…"},{"t":"Do I need a license for a private USDT transaction in Florida?","u":"do-i-need-a-license-for-a-private-usdt-transaction-in-florida","c":"US Money Transmitter Licensing and MSB Registration","s":["State Crypto Licensing","Money Transmitter Licenses (MTL)"],"p":["Americas","Florida"],"d":"2023-11-14","x":"I am in Florida and have an arrangement with a trusted associate who will buy $25k worth of USDT from me daily (on…"},{"t":"Why don't some US banks offer international wire transfers?","u":"why-dont-some-us-banks-offer-international-wire-transfers","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["United States"],"d":"2023-11-13","x":"Risk Management : The primary concern for banks, especially in the context of international transfers, is risk exposure.…"},{"t":"What is Know Your Transaction (KYT)?","u":"what-is-know-your-transaction-kyt","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Transaction (KYT)","Anti-Money Laundering (AML)"],"p":[],"d":"2023-11-04","x":"Know Your Transaction (KYT) is an anti-money laundering (AML) and compliance procedure that focuses on understanding the…"},{"t":"What is the difference between an Authorized Delegate and an Authorized Agent?","u":"what-is-the-difference-between-an-authorized-delegate-and-an-authorized-agent","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Authorized Delegates","Principal and Agent Models"],"p":[],"d":"2023-10-14","x":"In the context of USA Money Services Businesses (MSBs) and associated licensing, \u0026#34; authorized delegate \u0026#34; and \u0026#34;authorized…"},{"t":"How do you open a wire transfer-enabled bank account?","u":"how-do-you-open-a-wire-transfer-enabled-bank-account","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening"],"p":[],"d":"2023-09-05","x":"A wire transfer is a service that is offered by your bank. Depending on where in the world you may be, you would…"},{"t":"What is the difference between stored value and top-up?","u":"what-is-the-difference-between-stored-value-and-top-up","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Stored Value","Digital Wallets"],"p":[],"d":"2023-08-04","x":"In the context of electronic money institutions (EMIs) and money services businesses, \u0026#34;stored value\u0026#34; and \u0026#34;top-up\u0026#34; are…"},{"t":"Is it possible for Pakistan to recover looted funds held in European banks?","u":"is-it-possible-for-pakistan-to-recover-looted-funds-held-in-european-banks","c":"Money Laundering and Financial Crime","s":["Financial Crime","Financial Crime Enforcement"],"p":["Asia","Europe"],"d":"2023-06-09","x":"Yes, it is, but it is a complex process. The government of Pakistan would have to file a case and then be prepared to…"},{"t":"How does today’s banking system differ from banking 25 years ago?","u":"how-does-todays-banking-system-differ-from-banking-25-years-ago","c":"History of Money, Banking and Finance","s":["History of Banking","Financial History"],"p":[],"d":"2023-06-09","x":"Very simple: 25 years earlier, there was no concept of phone banking, mobile banking, or online banking. Everything was…"},{"t":"Why is pre-funding required in the money transfer world?","u":"why-is-pre-funding-required-in-the-money-transfer-world","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","MTO Economics"],"p":[],"d":"2023-05-23","x":"Pre-funding is a financial arrangement that is commonly used in the world of international money transfers, particularly…"},{"t":"Is prefunding considered trapped capital?","u":"is-prefunding-considered-trapped-capital","c":"Payment Corridors and Remittance Economics","s":["Prefunding","Trapped Capital"],"p":[],"d":"2023-05-23","x":"In a money services business, prefunding might indeed be viewed as a type of \u0026#34; trapped \u0026#34; capital . Prefunding refers to…"},{"t":"What are the implications of the US proposal to report transactions over $600 to the IRS?","u":"what-are-the-implications-of-the-us-proposal-to-report-transactions-over-600-to-the-irs","c":"Tax and Financial Reporting","s":["Tax Reporting Thresholds","Taxation of Payments"],"p":["United States"],"d":"2023-05-09","x":"Ludicrous. It just happens to be happening under the Biden Administration, the way it works is how the IRS and…"},{"t":"Are international financial institutions still necessary today?","u":"are-international-financial-institutions-still-necessary-today","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":[],"d":"2023-05-09","x":"This is a very broad question, and since the exact vertical within the financial system was not asked, will answer…"},{"t":"Is a digital wallet legally the same as a bank account?","u":"is-a-digital-wallet-legally-the-same-as-a-bank-account","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Mobile Payments"],"p":[],"d":"2023-04-09","x":"Not necessarily. It depends on how the digital wallet is set up. In all instances, the fiat balances of the wallet(s)…"},{"t":"What lessons has real-world experience revealed about Bitcoin?","u":"what-lessons-has-real-world-experience-revealed-about-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin"],"p":["Bitcoin"],"d":"2023-04-09","x":"That the government machinery all over the world will find ways to brand it as something negative. The sink of illicit…"},{"t":"What value does Nigeria’s e-Naira bring to the economy?","u":"what-value-does-nigerias-e-naira-bring-to-the-economy","c":"Stablecoins and CBDCs","s":["eNaira","Central Bank Digital Currencies (CBDC)"],"p":["Africa","Emerging Markets"],"d":"2023-04-09","x":"Despite being a huge economy, the Nigerian Naira is still considering an exotic currency, i.e. its tradeable pairs (both…"},{"t":"Why would a country ban private use of cryptocurrencies?","u":"why-would-a-country-ban-private-use-of-cryptocurrencies","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Currency Controls","Capital Controls"],"p":[],"d":"2023-04-09","x":"tl;dr: Taxation, Control, and Flight of Capital. There are many arguments and stories that can substantiate why a…"},{"t":"What would be some red flags for a KYB audit?","u":"what-would-be-some-red-flags-for-a-kyb-audit","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Business (KYB)","Anti-Money Laundering (AML)"],"p":[],"d":"2023-03-31","x":"Red flags for a KYB audit can vary depending on the nature of the business and the jurisdiction in which it operates.…"},{"t":"How is an Exchange-Traded Fund (ETF) and its NAV calculated?","u":"how-is-an-exchange-traded-fund-etf-and-its-nav-calculated","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["ETFs","Securities"],"p":[],"d":"2023-03-31","x":"Here\u0026#39;s an example of how the NAV of an ETF can be calculated using a hypothetical portfolio of five stocks: Let\u0026#39;s say…"},{"t":"What is the difference between a Community bank and a Credit Union?","u":"what-is-the-difference-between-a-community-bank-and-a-credit-union","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2023-03-31","x":"Community banks and credit unions are both financial institutions that serve local communities, but there are some key…"},{"t":"Can a federally chartered bank open a branch in any state?","u":"can-a-federally-chartered-bank-open-a-branch-in-any-state","c":"Central Banks and Bank Supervision","s":["Bank Charters","Banking Economics"],"p":[],"d":"2023-03-31","x":"Yes, a federally chartered bank can open a branch in any state without needing to obtain a separate state charter. This…"},{"t":"Which blockchain can you deploy an exchange-traded fund (or EFT) on?","u":"which-blockchain-can-you-deploy-an-exchange-traded-fund-or-eft-on","c":"DeFi, Tokens, NFTs and Web3","s":["Tokenized Funds","Web3"],"p":[],"d":"2023-03-31","x":"Exchange traded funds (ETFs) can be deployed on various blockchain platforms, but one of the most popular platforms for…"},{"t":"How does one define a hedge fund in detail?","u":"how-does-one-define-a-hedge-fund-in-detail","c":"Wealth Management, Private Banking and Family Offices","s":["Hedge Funds","Alternative Investments"],"p":[],"d":"2023-03-31","x":"A hedge fund is a type of investment vehicle that pools money from a group of investors and invests that money in a…"},{"t":"How does one structure an ETF (exchange-traded fund)?","u":"how-does-one-structure-an-etf-exchange-traded-fund","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["ETFs","Securities"],"p":[],"d":"2023-03-31","x":"Structuring an ETF involves a few steps: Creation: An ETF is created by an authorized participant (AP), who is usually a…"},{"t":"What is the difference between a hedge fund and a mutual fund?","u":"what-is-the-difference-between-a-hedge-fund-and-a-mutual-fund","c":"General Finance Questions","s":["Finance Terminology","General Finance Questions"],"p":[],"d":"2023-03-31","x":"Both hedge funds and mutual funds are investment vehicles that pool money from multiple investors to invest in different…"},{"t":"What is Hawala Money?","u":"what-is-hawala-money","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Hawala","Informal Remittance Channels"],"p":[],"d":"2023-02-24","x":"Understanding the Informal Money Transfer System Hawala money is an informal system of transferring money or value…"},{"t":"Do you think an ACH can be rejected (incurring reject fees) if we verify the balance ahead of time?","u":"do-you-think-an-ach-can-be-rejected-incurring-reject-fees-if-we-verify-the-balance-ahead-of-time","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":["Americas","Developed Markets"],"d":"2023-02-23","x":"Of course, it can. Let’s say a couple has US$ 2,000 in the account. The husband decides to send US$ 1,000 to his parents…"},{"t":"Is a License Necessary to Start a Money Transfer Business?","u":"is-a-license-necessary-to-start-a-money-transfer-business","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Starting a Remittance Business"],"p":[],"d":"2023-02-22","x":"Yes. The business of moving money is a regulated business. This means, that you would require a license that would be…"},{"t":"What criteria distinguishes an MSB from an FMSB?","u":"what-criteria-distinguishes-an-msb-from-an-fmsb","c":"Licensing in Other Countries","s":["Canada MSB Registration (FINTRAC)"],"p":["Canada","Canada Foreign MSB"],"d":"2023-02-22","x":"Below you will find more information about an MSB, or Money Services Business and an FMSB, or Foreign Money Services…"},{"t":"How can there be fraud in the money transfer business? I don’t know about the business and want to know if it comes with some kind of chargeback or fraud protection for us.","u":"how-can-there-be-fraud-in-the-money-transfer-business-i-dont-know-about-the-business-and-want-to-kno","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Starting a Remittance Business"],"p":["Americas","Developed Markets"],"d":"2023-02-17","x":"No business is fraud-free. To understand why there is a fraudulent transaction, you have to understand that by law in…"},{"t":"Can a company registered in Barbados as a licensed MSB operate (send/receive money) from/in Florida?","u":"can-a-company-registered-in-barbados-as-a-licensed-msb-operate-sendreceive-money-fromin-florida","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":["Barbados","Florida"],"d":"2023-02-16","x":"No, the US government does NOT recognize a license outside of the United States to be consumed/used within the United…"},{"t":"We have established a money transfer company in Canada and now we are looking for a bank in the US and want to be its Authorized Delegate in the USA for money transfer services.","u":"we-have-established-a-money-transfer-company-in-canada-and-now-we-are-looking-for-a-bank-in-the-us-a","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Authorized Delegates","Principal and Agent Models"],"p":["Americas","Canada"],"d":"2023-02-16","x":"You would need to have been operating for over 3 years with excellent audit recommendations to even be considered for an…"},{"t":"Can we get the US multi-currency accounts without being licensed in the US yet?","u":"can-we-get-the-us-multi-currency-accounts-without-being-licensed-in-the-us-yet","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Banking Access","Fintech Banking Relationships"],"p":["Americas","Canadian Dollar"],"d":"2023-02-15","x":"Yes, if you incorporate you can get a USD account, you can also get a CAD account. But you cannot sign up customers. The…"},{"t":"Do OTC services require a license?","u":"do-otc-services-require-a-license","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensable Activities","Licenses for Sale"],"p":[],"d":"2023-02-15","x":"OTC services very much require a license if the “intent” is to buy from others and sell on to others, where your…"},{"t":"Can we work under a Trust’s Money Transmitter License?","u":"can-we-work-under-a-trusts-money-transmitter-license","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":[],"d":"2023-02-15","x":"Trusts have a charter, they do not have a money transmitter license. However, as a Trust company, they can offer…"},{"t":"Do Trust Companies provide money transmitter license coverage?","u":"do-trust-companies-provide-money-transmitter-license-coverage","c":"Licensing Strategy, Sponsorship and Agent Models","s":["License Sponsorship","Licensing Strategy"],"p":["Americas","California"],"d":"2023-02-15","x":"This is widely debated. The short answer is that they can provide limited money transmitter license coverage, for their…"},{"t":"Montana does not require a money transmitter license, so if I register a company there am I exempt from money transmitter licenses?","u":"montana-does-not-require-a-money-transmitter-license-so-if-i-register-a-company-there-am-i-exempt-fr","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","State-by-State MTL Requirements"],"p":["Montana","United States"],"d":"2023-02-15","x":"You may be exempt from money transmitter licenses only in the state of Montana. Because you have an exemption in the…"},{"t":"Is there an advantage of getting the EMI license in Lithuania vs Ireland?","u":"is-there-an-advantage-of-getting-the-emi-license-in-lithuania-vs-ireland","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["Electronic Money Institutions (EMI)","EU Electronic Money Institutions"],"p":["EMEA","Europe"],"d":"2023-02-14","x":"The biggest advantage is that of issuance and operational cost. Barring the UK (which is no longer the epicenter for EMI…"},{"t":"What is the difference between an agent and non-agent of an EMI in Europe/UK?","u":"what-is-the-difference-between-an-agent-and-non-agent-of-an-emi-in-europeuk","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Principal and Agent Models","Authorized Delegates"],"p":["EMEA","Europe"],"d":"2023-02-14","x":"There are a couple of differences between an agent and a non-agent in the European EMI licensing regime. A non-agent,…"},{"t":"Since our company is about to obtain a Labuan Money Brokering license, may I know whether it is sufficient to use this license to apply to be a Registered Agent (RA) under an EMI holder?","u":"since-our-company-is-about-to-obtain-a-labuan-money-brokering-license-may-i-know-whether-it-is-suffi","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Principal and Agent Models","Licensing Applications"],"p":["EMEA","Europe"],"d":"2023-02-14","x":"Under an RA model, your license outside doesn’t count per se. You would need an EU-registered entity to be able to get a…"},{"t":"Isn’t the idea of ‘renting’ a license considered wrong? Could it have legal ramifications if we rented a license?","u":"isnt-the-idea-of-renting-a-license-considered-wrong-could-it-have-legal-ramifications-if-we-rented-a","c":"Licensing Strategy, Sponsorship and Agent Models","s":["License Sponsorship","Principal License Holders"],"p":["California","Florida"],"d":"2023-02-13","x":"Allow us to explain here (in brief): We don’t rent the license per se, we use that term so the client understands what…"},{"t":"Are banks legally required to perform AML and KYC checks when opening new accounts?","u":"are-banks-legally-required-to-perform-aml-and-kyc-checks-when-opening-new-accounts","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","Know Your Customer (KYC)"],"p":[],"d":"2023-02-12","x":"Absolutely. Anti-Money Laundering ( AML ) checks and Know Your Customer ( KYC ) or Know Your Business ( KYB ) checks are…"},{"t":"How can I confirm whether a bank transfer was successful if the funds were deducted from my account?","u":"how-can-i-confirm-whether-a-bank-transfer-was-successful-if-the-funds-were-deducted-from-my-account","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Wire Transfers"],"p":[],"d":"2023-02-12","x":"Just because money was deducted from your account does not mean the transfer was successful. So many things can go…"},{"t":"What happens if a wire transfer is sent to a bank account that does not exist?","u":"what-happens-if-a-wire-transfer-is-sent-to-a-bank-account-that-does-not-exist","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Wire Transfers","Account-to-Account Payments"],"p":[],"d":"2023-02-11","x":"Pretty much the same thing you would expect trying to deliver a parcel to an address that doesn’t exist. At some point…"},{"t":"What are the eligibility requirements for a money transmitter license, and must a company actually hold customer funds?","u":"what-are-the-eligibility-requirements-for-a-money-transmitter-license-and-must-a-company-actually-ho","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":["United States"],"d":"2023-02-11","x":"The requirement for a money transmitter license is that your business is classified as a money services business ( MSB…"},{"t":"Why do US banks require the full legal name of foreign beneficiaries for international wires?","u":"why-do-us-banks-require-the-full-legal-name-of-foreign-beneficiaries-for-international-wires","c":"Sanctions, Embargoes and Screening","s":["Watchlist Screening","Sanctions Screening"],"p":["United States"],"d":"2023-02-09","x":"This is needed to run the name (and its associated information) against the various sanctions screening lists that, by…"},{"t":"What exactly are AML and KYC checks?","u":"what-exactly-are-aml-and-kyc-checks","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Program"],"p":[],"d":"2023-02-09","x":"This is a pretty broad question. AML, which stands for anti-money laundering , is part of the Compliance Program that…"},{"t":"What laws and regulations govern international remittances, and how do they differ across countries?","u":"what-laws-and-regulations-govern-international-remittances-and-how-do-they-differ-across-countries","c":"Regulators, Enforcement and Regulatory Change","s":["Cross-Border Payment Regulation","Regulation"],"p":[],"d":"2023-02-09","x":"Every country has its own set of laws and regulations related to money transmission/money transfer. There is no singular…"},{"t":"What does it mean to acquire a Money Transmitter License (sponsorship)?","u":"what-does-it-mean-to-acquire-a-money-transmitter-license-sponsorship","c":"Licensing Strategy, Sponsorship and Agent Models","s":["License Sponsorship","Sponsorship Models"],"p":["Americas","North America"],"d":"2023-02-09","x":"You’re not actually getting a money transmitter license, but rather an umbrella coverage for the license in the US with…"},{"t":"Can we apply for a Lithuanian license if we are already incorporated in Ireland? That would be our preferred option given that we’ll need to staff operations in whatever country we do get our license.","u":"can-we-apply-for-a-lithuanian-license-if-we-are-already-incorporated-in-ireland-that-would-be-our-pr","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["Lithuania","EU Licensing"],"p":["Baltics","Europe"],"d":"2023-02-09","x":"You can. There is no specific advantage per se. You can still be an Irish company, that is domiciled physically in…"},{"t":"Can we also market in the African corridors we are licensed in and send/receive payments between the African corridors?","u":"can-we-also-market-in-the-african-corridors-we-are-licensed-in-and-sendreceive-payments-between-the","c":"Money Transfer Business and MTOs","s":["Remittance-as-a-Service (RaaS)","Money Transfer Operators (MTO)"],"p":["Africa","Emerging Markets"],"d":"2023-02-09","x":"You can market this anywhere, where allowed by law. It is always a good idea (strongly suggested) to obtain an NOE (No…"},{"t":"There is no crypto-license sponsorship option in the EU, am I right?","u":"there-is-no-crypto-license-sponsorship-option-in-the-eu-am-i-right","c":"Crypto and VASP Licensing","s":["Crypto Licensing","Crypto Regulation"],"p":["EMEA","Europe"],"d":"2023-02-07","x":"Not sponsorship. But you can apply for your own crypto license and we do offer that service. If you are interested in…"},{"t":"Can cryptocurrencies realistically support real-time micropayments and peer-to-peer transactions?","u":"can-cryptocurrencies-realistically-support-real-time-micropayments-and-peer-to-peer-transactions","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":[],"d":"2023-02-04","x":"It absolutely can. One of the beautiful features of cryptocurrency is the ability to send across small values worldwide.…"},{"t":"Why might a US bank reject an incoming international wire transfer?","u":"why-might-a-us-bank-reject-an-incoming-international-wire-transfer","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["United States"],"d":"2023-02-04","x":"An incoming international wire transfer can be rejected for various reasons. It mostly has to do with risk \u0026amp; compliance…"},{"t":"What is the process for obtaining a money transmitter license in the US?","u":"what-is-the-process-for-obtaining-a-money-transmitter-license-in-the-us","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","State-by-State MTL Requirements"],"p":["Americas","Developed Markets"],"d":"2023-02-04","x":"You can obtain a money transmitter license in the US from each of the US states in which you wish to work. For example,…"},{"t":"Why do many P2P money transfer companies eventually pivot toward B2B payments?","u":"why-do-many-p2p-money-transfer-companies-eventually-pivot-toward-b2b-payments","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Business Models"],"p":[],"d":"2023-02-02","x":"Well, the answer is simple. Cost of customer acquisition is very high. It is not cheap. If you have to acquire direct…"},{"t":"If I want to launch a crypto wallet, how can I secure a sponsoring bank for a crypto money transfer license?","u":"if-i-want-to-launch-a-crypto-wallet-how-can-i-secure-a-sponsoring-bank-for-a-crypto-money-transfer-l","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensable Activities","Licensing Strategy"],"p":["Americas","Developed Markets"],"d":"2023-02-02","x":"The answer to this question is if you want to start a crypto wallet in the United States that will handle just crypto…"},{"t":"Can settlement funds be redirected to a bank account in a country different from the payout country?","u":"can-settlement-funds-be-redirected-to-a-bank-account-in-a-country-different-from-the-payout-country","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Settlement Accounts","Money Plumbing (How Money Moves)"],"p":["China","United States"],"d":"2023-02-01","x":"The answer is yes, you can provide it provided a couple of certain conditions are met. There are essentially three…"},{"t":"Can a money transfer agent outlet legally operate from a consulate or embassy location?","u":"can-a-money-transfer-agent-outlet-legally-operate-from-a-consulate-or-embassy-location","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensable Activities","Jurisdiction Selection"],"p":[],"d":"2023-02-01","x":"The answer is no. When we look at making a consulate or an embassy, as a money-transfer agent location, you have to…"},{"t":"Where can I find a detailed breakdown of money transmitter license costs in the United States?","u":"where-can-i-find-a-detailed-breakdown-of-money-transmitter-license-costs-in-the-united-states","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["Americas","Developed Markets"],"d":"2023-02-01","x":"Typically, the financial regulator of each state puts out some kind of information on how much it costs to get a money…"},{"t":"What is cryptocurrency-as-a-service?","u":"what-is-cryptocurrency-as-a-service","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Industry","Fintech Infrastructure Providers"],"p":[],"d":"2023-01-26","x":"Crypto-as-a-service or cryptocurrency-as-a-service (CaaS) has not yet fully been defined. It can literally mean any sort…"},{"t":"Is a money transmitter license adequate for launching crypto-related services in the US?","u":"is-a-money-transmitter-license-adequate-for-launching-crypto-related-services-in-the-us","c":"Crypto and VASP Licensing","s":["Crypto Licensing","Crypto Regulation"],"p":["Americas","Developed Markets"],"d":"2023-01-26","x":"No. In certain US States like New York for example, a BitLicense is required to trade in Cryptocurrency related…"},{"t":"Would a US Bank Account (Nostro) via Fedwire be held in a foreign country? Would that be classified as Nostro accounts?","u":"would-a-us-bank-account-nostro-via-fedwire-be-held-in-a-foreign-country-would-that-be-classified-as","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Nostro Accounts","Correspondent Banking Relationships"],"p":["United States"],"d":"2023-01-18","x":"There are two scenarios in which this can be played out: (a) You are a licensed payout partner with a direct…"},{"t":"What is the difference between Reserve and Pre-funding under Balances \u0026 Reserves?","u":"what-is-the-difference-between-reserve-and-pre-funding-under-balances-amp-reserves","c":"Money Transfer Business and MTOs","s":["Digital MTOs","Money Transfer Operators (MTO)"],"p":["Americas","North America"],"d":"2023-01-18","x":"In the United States, ACH is subject to abuse, because of the way it is structured. ACH transactions can be reversed up…"},{"t":"What is Hawala or Hundi?","u":"what-is-hawala-or-hundi","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Hawala","Informal Remittance Channels"],"p":["Asia","India"],"d":"2023-01-16","x":"Hundi and Hawala are informal money transfer systems that have been used for centuries in various parts of the world.…"},{"t":"As a sponsored party which parties do we share our customers’ KYC information with, if any?","u":"as-a-sponsored-party-which-parties-do-we-share-our-customers-kyc-information-with-if-any","c":"Licensing Strategy, Sponsorship and Agent Models","s":["License Sponsorship","Sponsorship Models"],"p":["Americas","North America"],"d":"2023-01-16","x":"If the sponsor is sponsoring you for license/regulatory coverage in the US, then the client legally belongs to them,…"},{"t":"Who is responsible for anti-money laundering?","u":"who-is-responsible-for-anti-money-laundering","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Policies and Procedures"],"p":[],"d":"2023-01-16","x":"The solution provider is. That is the beauty of this setup. You are not legally responsible for any such issues as AML,…"},{"t":"What is Regulation-E in cross border funds transfer?","u":"what-is-regulation-e-in-cross-border-funds-transfer","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation E","Regulation"],"p":[],"d":"2023-01-03","x":"Regulation E is a federal regulation that applies to electronic fund transfers (EFTs), which are financial transactions…"},{"t":"In economics, what is a Pegged Currency?","u":"in-economics-what-is-a-pegged-currency","c":"FX Rates, Spreads and Currency Markets","s":["Exchange Rates","Currency Exchange"],"p":[],"d":"2023-01-03","x":"In economics, a pegged currency is a type of exchange rate system in which the value of a currency is fixed to the value…"},{"t":"How is One Currency Pegged to Another and How Does it Work?","u":"how-is-one-currency-pegged-to-another-and-how-does-it-work","c":"FX Rates, Spreads and Currency Markets","s":["Exchange Rates","Foreign Exchange (FX)"],"p":[],"d":"2023-01-03","x":"There are several ways in which one currency can be pegged to another, and the specific details of how the peg is…"},{"t":"What is Europe's Electronic Money Directive or EMD?","u":"what-is-europes-electronic-money-directive-or-emd","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["E-Money","E-Money Directive"],"p":["Developed Markets","EMEA"],"d":"2023-01-03","x":"The Electronic Money Directive (EMD) is a piece of European Union (EU) legislation that sets out the regulatory…"},{"t":"Why is a nested transaction in the banking world a high risk transaction?","u":"why-is-a-nested-transaction-in-the-banking-world-a-high-risk-transaction","c":"General Finance Questions","s":["Finance Terminology","General Finance Questions"],"p":[],"d":"2023-01-03","x":"Nested transactions in the banking world can be considered high risk for a number of reasons. One reason is that nested…"},{"t":"What would be considered a nested transaction for cross border money transfer?","u":"what-would-be-considered-a-nested-transaction-for-cross-border-money-transfer","c":"Payments (General)","s":["Payment Terminology","Payment Products"],"p":[],"d":"2023-01-03","x":"A cross-border transfer refers to a financial transaction that involves the transfer of funds between accounts in…"},{"t":"What is considered a nested transaction?","u":"what-is-considered-a-nested-transaction","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Banking Relationships","Nested Accounts"],"p":[],"d":"2023-01-03","x":"In the context of money transfers, the term \u0026#34;nested transactions\u0026#34; generally refers to a scenario in which a money…"},{"t":"What is Dollar Cost Averaging?","u":"what-is-dollar-cost-averaging","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Securities","Stock Markets"],"p":[],"d":"2023-01-03","x":"Dollar cost averaging is a way to save money for the future. Imagine you have a little piggy bank and you want to save…"},{"t":"What are the downsides of offshore banking?","u":"what-are-the-downsides-of-offshore-banking","c":"Opening Bank Accounts, Personal and Business","s":["Offshore Banking","Offshore Bank Accounts"],"p":[],"d":"2023-01-02","x":"Top three disadvantages that I can name are: First of all, are the minimum requirements to maintain an account. Most…"},{"t":"What is FATF?","u":"what-is-fatf","c":"Money Laundering and Financial Crime","s":["Financial Crime","Financial Crime Enforcement"],"p":[],"d":"2023-01-02","x":"The Financial Action Task Force (FATF) is an intergovernmental organization that works to combat money laundering and…"},{"t":"In payments, what is a merchant of record and what does it mean?","u":"in-payments-what-is-a-merchant-of-record-and-what-does-it-mean","c":"Merchant Accounts, Processors and Gateways","s":["Merchant of Record","Payment Processors"],"p":[],"d":"2023-01-02","x":"In the world of payments, a merchant of record (MOR) is a company or entity that is responsible for accepting and…"},{"t":"What is Interoperability in payments?","u":"what-is-interoperability-in-payments","c":"Payments (General)","s":["Payment Terminology","Payment Basics"],"p":[],"d":"2023-01-02","x":"Interoperability in payments refers to the ability of different payment systems, networks, and financial institutions to…"},{"t":"What is Embedded Finance?","u":"what-is-embedded-finance","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Industry","Fintech Business Models"],"p":[],"d":"2023-01-02","x":"Embedded finance is a term that refers to the integration of financial services into everyday products and services.…"},{"t":"What is Regulatory Arbitrage?","u":"what-is-regulatory-arbitrage","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation"],"p":[],"d":"2023-01-02","x":"Regulatory arbitrage refers to the practice of exploiting differences in regulatory requirements between different…"},{"t":"How do Foreign Exchange transactions work?","u":"how-do-foreign-exchange-transactions-work","c":"FX Rates, Spreads and Currency Markets","s":["Foreign Exchange (FX)","Currency Exchange"],"p":["China","Chinese Yuan Renminbi"],"d":"2023-01-02","x":"When people or businesses want to buy something from another country, they often need to pay for it in the other…"},{"t":"What is Bank of International Settlements and how does it work?","u":"what-is-bank-of-international-settlements-and-how-does-it-work","c":"Geopolitics of Money and the International Monetary System","s":["Monetary Systems"],"p":[],"d":"2023-01-02","x":"The Bank for International Settlements (BIS) is an international financial institution that promotes international…"},{"t":"What is Hawala and How Does it Work?","u":"what-is-hawala-and-how-does-it-work","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Hawala","Informal Remittance Channels"],"p":["Asia","Indian Subcontinent"],"d":"2023-01-02","x":"Hawala, also known as hundi, is a traditional and informal system of money transfer that has been used for centuries in…"},{"t":"What is the difference between Hawala and Hundi?","u":"what-is-the-difference-between-hawala-and-hundi","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Informal Value Transfer Systems (IVTS)","Informal Finance"],"p":["Asia","Indian Subcontinent"],"d":"2023-01-02","x":"Hawala and hundi are two different words that are used to describe the same informal system of money transfer. Hawala is…"},{"t":"What is Feipiao and how does it work?","u":"what-is-feipiao-and-how-does-it-work","c":"Money Laundering and Financial Crime","s":["Financial Crime","Financial Crime Enforcement"],"p":["China"],"d":"2023-01-02","x":"Feipiao is a Chinese term that translates to \u0026#34;fake ticket\u0026#34; or \u0026#34;counterfeit ticket.\u0026#34; It is commonly used in the context…"},{"t":"What is Feipiao?","u":"what-is-feipiao","c":"Money Laundering and Financial Crime","s":["Financial Crime","Financial Crime Enforcement"],"p":["China"],"d":"2023-01-02","x":"Feipiao (also spelled fei piao) is a Chinese term that translates to \u0026#34;fake ticket\u0026#34; or \u0026#34;counterfeit ticket.\u0026#34; It is…"},{"t":"What is the difference between flying cash and paper money?","u":"what-is-the-difference-between-flying-cash-and-paper-money","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Informal Value Transfer Systems (IVTS)","Informal Finance"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2023-01-02","x":"Flying cash and paper money are two different terms that are not necessarily related to each other. Flying cash is a…"},{"t":"What is the difference between a Nostro account and a Vostro account?","u":"what-is-the-difference-between-a-nostro-account-and-a-vostro-account","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Banking Relationships","Nostro Accounts"],"p":[],"d":"2023-01-02","x":"A nostro account and a vostro account are two different types of bank accounts that are used in international trade and…"},{"t":"What are remittances and how do they contribute to the economy of the developing world?","u":"what-are-remittances-and-how-do-they-contribute-to-the-economy-of-the-developing-world","c":"Payment Corridors and Remittance Economics","s":["Remittance Economics"],"p":[],"d":"2023-01-02","x":"Remittances are funds that are sent by individuals who are working abroad to their home countries. These funds can be…"},{"t":"What is Europe's Electronic Money Directive (EMD)?","u":"what-is-europes-electronic-money-directive-emd","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["E-Money","E-Money Directive"],"p":["EMEA","Europe"],"d":"2023-01-02","x":"The Electronic Money Directive (EMD) is a piece of European Union (EU) legislation that sets out the regulatory…"},{"t":"Why is a Legal Memo Required?","u":"why-is-a-legal-memo-required","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Law","Financial Services Law"],"p":[],"d":"2022-10-14","x":"Definition and Origin What is a Legal Memo? A legal memo, or legal memorandum, is a document used by legal professionals…"},{"t":"How to do Money Transfer?","u":"how-to-do-money-transfer","c":"Payments (General)","s":["Payment Methods","Payment Basics"],"p":[],"d":"2022-09-26","x":"Definition and Origin: How to do Money Transfer? refers to the process of electronically transferring funds from one…"},{"t":"What are reliable alternatives to PayPal and Venmo as of 2021?","u":"what-are-reliable-alternatives-to-paypal-and-venmo-as-of-2021","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":["USD Coin (USDC)","United States Dollar"],"d":"2022-08-11","x":"Honestly, depending where you are, USDC/USDC, i.e. crypto, is a really good alternative now."},{"t":"What is the most effective approach to conducting KYC for an ICO?","u":"what-is-the-most-effective-approach-to-conducting-kyc-for-an-ico","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","Identity Verification (IDV)"],"p":[],"d":"2022-08-11","x":"There are plenty of providers that can provide KYC services and liveliness tests that are essential for any kind of…"},{"t":"Which countries currently allow the use of cryptocurrencies for remittances?","u":"which-countries-currently-allow-the-use-of-cryptocurrencies-for-remittances","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Inward Remittances"],"p":[],"d":"2022-08-11","x":"It is not as to which countries accept crypto for remittances, but which counties can and do. In many ways, the answer…"},{"t":"Can ACH transfers be made to or from a prepaid card?","u":"can-ach-transfers-be-made-to-or-from-a-prepaid-card","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2022-08-07","x":"This depends. In most cases, the answer is no. A prepaid card can be of so many types. For example, a Netflix prepaid…"},{"t":"Why must international wire transfers be verbally approved by banks and how do fees differ from standard transfers?","u":"why-must-international-wire-transfers-be-verbally-approved-by-banks-and-how-do-fees-differ-from-stan","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2022-08-06","x":"Rules are changing from bank to bank. International wire transfers are now seen as a higher-risk transaction by many…"},{"t":"If offshore funds are proven stolen, can they be frozen or seized?","u":"if-offshore-funds-are-proven-stolen-can-they-be-frozen-or-seized","c":"Fraud and Scams","s":["Fund Recovery","Fraud Victim Recourse"],"p":[],"d":"2022-07-04","x":"The short answer is, possible, but not probable . Meaning, your chances of getting the money back are between slim to…"},{"t":"How do countries obtain US dollars when adopting it as their official currency?","u":"how-do-countries-obtain-us-dollars-when-adopting-it-as-their-official-currency","c":"Geopolitics of Money and the International Monetary System","s":["Dollarization","Monetary Systems"],"p":["United States","United States Dollar"],"d":"2022-06-01","x":"There are many different ways to acquire the US Dollar. When a country decides that the US Dollar be the official…"},{"t":"Can I open a US bank account remotely to create a PayPal business account?","u":"can-i-open-a-us-bank-account-remotely-to-create-a-paypal-business-account","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Business Bank Accounts"],"p":["Americas","Developed Markets"],"d":"2022-05-11","x":"Depending on your business this is pretty easy to do. Assuming you are not operating a business that is not accepted by…"},{"t":"How do international banks physically settle balances between each other?","u":"how-do-international-banks-physically-settle-balances-between-each-other","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Accounts"],"p":[],"d":"2022-05-11","x":"The physical money is very, very little compared to the actual money that is settled. In most cases, what the banks are…"},{"t":"Does incorporating in Montana exempt a company from money transmitter licensing?","u":"does-incorporating-in-montana-exempt-a-company-from-money-transmitter-licensing","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":["Montana","Restricted Jurisdictions"],"d":"2022-02-10","x":"You may be exempt from money transmitter licenses only in the state of Montana. Because you have an exemption in the…"},{"t":"If my branch lacks a SWIFT code, can I use the main HBL Pakistan SWIFT code for transfers?","u":"if-my-branch-lacks-a-swift-code-can-i-use-the-main-hbl-pakistan-swift-code-for-transfers","c":"International Wire Transfers and Large Transfers","s":["SWIFT Transfers","International Wire Transfers"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2022-02-01","x":"Your branch is not even expected to have a SWIFT Code. Chances are wherever instructions are being asked for SWIFT code,…"},{"t":"How do companies receive money from products sold in supermarkets?","u":"how-do-companies-receive-money-from-products-sold-in-supermarkets","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Accounts Receivable","Open Account Trade"],"p":[],"d":"2022-02-01","x":"This is typically done in one of three ways: Distributor: This is the most common method. A distribution company would…"},{"t":"Is a money transmitter license sufficient for crypto services in the US?","u":"is-a-money-transmitter-license-sufficient-for-crypto-services-in-the-us","c":"Crypto and VASP Licensing","s":["Crypto Licensing","Crypto Regulation"],"p":["Americas","Developed Markets"],"d":"2022-01-10","x":"No. In certain US states like New York, for example, a BitLicense is required to trade in Cryptocurrency related…"},{"t":"What qualifies as a cryptocurrency service?","u":"what-qualifies-as-a-cryptocurrency-service","c":"Crypto and VASP Licensing","s":["Starting a Crypto Exchange or VASP","Crypto Licensing"],"p":[],"d":"2022-01-10","x":"Crypto-as-a-service or cryptocurrency-as-a-service (CaaS) has not yet fully been defined. It can literally mean any sort…"},{"t":"Can trust companies provide money transmitter license coverage?","u":"can-trust-companies-provide-money-transmitter-license-coverage","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["California","New York"],"d":"2022-01-10","x":"This is widely debated. The short answer is that they can provide limited money transmitter license coverage, for their…"},{"t":"What is the difference between an agent and non-agent of an EMI in Europe or the UK?","u":"what-is-the-difference-between-an-agent-and-non-agent-of-an-emi-in-europe-or-the-uk","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Principal and Agent Models","Authorized Delegates"],"p":["EMEA","Europe"],"d":"2022-01-10","x":"There are a couple of differences between an agent and a non-agent in the European EMI licensing regime. A non-agent for…"},{"t":"What alternatives exist to Payoneer for receiving US client payments?","u":"what-alternatives-exist-to-payoneer-for-receiving-us-client-payments","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Getting Paid from Abroad"],"p":[],"d":"2022-01-08","x":"TransferWise is a good option, but your customer has to sign up with them. If the payment is one-off, or even regularly…"},{"t":"Do digital balances always represent real money held by banks?","u":"do-digital-balances-always-represent-real-money-held-by-banks","c":"Economics, Inflation and Monetary Policy","s":["Fiat Currency","Money Supply"],"p":["United States"],"d":"2022-01-01","x":"The answer is NO. The currency in circulation today, known as Money Supply (to make it simpler, albeit there are many…"},{"t":"Is a routing number always required to transfer money?","u":"is-a-routing-number-always-required-to-transfer-money","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Routing Numbers","Payment Routing"],"p":["Americas","Developed Markets"],"d":"2022-01-01","x":"In the United States, yes, you do need the ABA number or the routing number in order to make the transfer. This is a…"},{"t":"When companies are acquired for billions, how does the payment transaction occur?","u":"when-companies-are-acquired-for-billions-how-does-the-payment-transaction-occur","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Securities","Equities"],"p":[],"d":"2022-01-01","x":"There a couple of ways this can play out. (a) Cash: Assuming the purchase is an all-cash buy out (either buying the…"},{"t":"Is there a global standard for a compliance manual?","u":"is-there-a-global-standard-for-a-compliance-manual","c":"AML Programs, KYC and Compliance Operations","s":["Governance","High-Risk Industries Compliance"],"p":[],"d":"2021-11-03","x":"Definition and Origin Is there a global standard for a compliance manual? Definition: A global standard for a compliance…"},{"t":"When Should We Hire a Compliance Officer","u":"when-should-we-hire-a-compliance-officer","c":"AML Programs, KYC and Compliance Operations","s":["Compliance Officers","Governance"],"p":[],"d":"2021-11-03","x":"When Should We Hire a Compliance Officer Definition and Origin A Compliance Officer is a professional responsible for…"},{"t":"Why is mobile money adoption higher in developing countries than developed ones?","u":"why-is-mobile-money-adoption-higher-in-developing-countries-than-developed-ones","c":"Emerging Markets and Financial Inclusion","s":["Financial Inclusion","Emerging Market Economies"],"p":["Bangladesh","Emerging Markets"],"d":"2021-10-04","x":"No legacy. In most of the developing countries, there was no legacy attachment to a financial system. It was like a…"},{"t":"Does every central bank maintain foreign exchange reserves?","u":"does-every-central-bank-maintain-foreign-exchange-reserves","c":"Central Banks and Bank Supervision","s":["Central Banks","Banking Economics"],"p":[],"d":"2021-10-04","x":"Yes. Pretty much. Why? You ask. If a country wants to trade with another country (and I cannot think of a single country…"},{"t":"Do I need my own e-money license or can I start under a leased license?","u":"do-i-need-my-own-e-money-license-or-can-i-start-under-a-leased-license","c":"Licensing Strategy, Sponsorship and Agent Models","s":["License Sponsorship","Licensing Strategy"],"p":[],"d":"2021-10-02","x":"If you’re going to be a financial intermediary (for purposes of money transfer/remittance business), chances are you…"},{"t":"How can law enforcement access a bank account without notifying the account holder?","u":"how-can-law-enforcement-access-a-bank-account-without-notifying-the-account-holder","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Law","Financial Services Law"],"p":[],"d":"2021-10-01","x":"In almost every country that provides banking, there is a systematic method of allowing LEA (Law Enforcement Agencies)…"},{"t":"Are there official government-issued anti-money laundering or anti-terrorism certificates, or are these scams?","u":"are-there-official-government-issued-anti-money-laundering-or-anti-terrorism-certificates-or-are-the","c":"Fraud and Scams","s":["Scam Awareness","Fraud Prevention"],"p":[],"d":"2021-10-01","x":"To the best of my knowledge, there is no certificate or form issued by the government for AML or CTF. Governments…"},{"t":"What are the advantages of holding an EU money transmitter license versus operating under a bank’s umbrella?","u":"what-are-the-advantages-of-holding-an-eu-money-transmitter-license-versus-operating-under-a-banks-um","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensing Strategy","License Type Comparisons (MSB vs EMI vs Bank)"],"p":["Developed Markets","EMEA"],"d":"2021-08-01","x":"A couple of things here… at the time of writing this answer (see snapshot below). There is no money transmitter license…"},{"t":"How is money transferred between domestic and international bank accounts instantly when no physical cash moves?","u":"how-is-money-transferred-between-domestic-and-international-bank-accounts-instantly-when-no-physical","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":["Philippine Peso","Philippines"],"d":"2021-07-12","x":"The answer is - it depends. Typically money is moved because there is money parked around the world by banks in their…"},{"t":"Why do individuals open bank accounts in multiple countries?","u":"why-do-individuals-open-bank-accounts-in-multiple-countries","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Canada","Euro"],"d":"2021-07-12","x":"Most individuals who want to open up a bank account from overseas (internationally) are usually those who are dealing…"},{"t":"What is involved in issuing prepaid debit cards through offshore banks?","u":"what-is-involved-in-issuing-prepaid-debit-cards-through-offshore-banks","c":"Card Networks and Card Issuing","s":["Card Issuing","Issuer Processing"],"p":[],"d":"2021-07-08","x":"You will simply have to find an off-shore bank that is not only an issuer, but has the CMS (Card Management System) to…"},{"t":"Are international money transfers truly instant?","u":"are-international-money-transfers-truly-instant","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":[],"d":"2021-07-07","x":"Domestic, yes, international, no. The cross-border payment rails are based on correspondent banking and Nostro accounts.…"},{"t":"How large is the global market for small-value remittances?","u":"how-large-is-the-global-market-for-small-value-remittances","c":"Money Transfer Business and MTOs","s":["MTO Economics","Money Transfer Operators (MTO)"],"p":[],"d":"2021-07-06","x":"No one knows, but it is HUGE. There are many ways to model this problem, there is no right or wrong way. Here is a…"},{"t":"How can small money transfer businesses improve competitiveness?","u":"how-can-small-money-transfer-businesses-improve-competitiveness","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":["Americas","North America"],"d":"2021-07-06","x":"There are many things you can do as a small money transfer business, one of them happens to be a pivot, but that’s a…"},{"t":"How Much Money Do I Need to Get Started?","u":"how-much-money-do-i-need-to-get-started","c":"Money Transfer Business and MTOs","s":["Starting a Remittance Business","Money Transfer Operators (MTO)"],"p":["Canada","Developed Markets"],"d":"2021-07-05","x":"The amount of money required to start a money transfer and remittance business will vary depending on the specific…"},{"t":"Which apps besides PayPal allow instant transfers to friends and family?","u":"which-apps-besides-paypal-allow-instant-transfers-to-friends-and-family","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":["Bangladesh","India"],"d":"2021-06-10","x":"Let me answer from two perspectives: Cross-Border Payments: There isn’t any worldwide consensus on this. Real-time…"},{"t":"Are there payment methods with zero transaction fees?","u":"are-there-payment-methods-with-zero-transaction-fees","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":["Asia","Iran"],"d":"2021-06-02","x":"Might not be in your neighborhood, but Shetab/Shaparak (in Iran) is the only 100% free payment system in the world that…"},{"t":"Do banks in developing countries follow international banking regulations?","u":"do-banks-in-developing-countries-follow-international-banking-regulations","c":"Central Banks and Bank Supervision","s":["Bank Supervision","Banking Economics"],"p":[],"d":"2021-06-01","x":"Banks in third world countries, as well as first and second world countries, are institutions that are primarily…"},{"t":"Are wire transfer funds available immediately after sending?","u":"are-wire-transfer-funds-available-immediately-after-sending","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Wire Transfers","Payment Clearing"],"p":["Europe","European Union"],"d":"2021-06-01","x":"It is a complicated answer. The safe answer is, they do not. First of all, we need to understand if we are looking at a…"},{"t":"Can foreigners open bank accounts in Turkey without residency permits?","u":"can-foreigners-open-bank-accounts-in-turkey-without-residency-permits","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Turkey"],"d":"2021-05-08","x":"The answer is, it depends. Just to amplify on my experience: 1. You need not have a \u0026#39;Turkish\u0026#39; bank account statement to…"},{"t":"Which countries allow non-citizens to open bank accounts with only a passport?","u":"which-countries-allow-non-citizens-to-open-bank-accounts-with-only-a-passport","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":[],"d":"2021-05-07","x":"Almost all the offshore countries/islands will let you open a bank account without ever having step foot on their soil.…"},{"t":"What is the “Travel Rule” in financial transactions and why does it matter?","u":"what-is-the-travel-rule-in-financial-transactions-and-why-does-it-matter","c":"AML Programs, KYC and Compliance Operations","s":["Travel Rule","Anti-Money Laundering (AML)"],"p":[],"d":"2021-05-06","x":"To explain it with a little bit of handwaving, the Travel Rule is a BSA (Bank Secrecy Act) rule that came out which…"},{"t":"What does it cost to register with FinCEN?","u":"what-does-it-cost-to-register-with-fincen","c":"US Money Transmitter Licensing and MSB Registration","s":["FinCEN Registration","MSB Registration (US)"],"p":[],"d":"2021-05-06","x":"A FinCEN (Financial Crimes Enforcement Network) license? There is no such thing. FinCEN has a registration that is 100%…"},{"t":"Does accepting cryptocurrency as payment classify a US company as an MSB under FinCEN?","u":"does-accepting-cryptocurrency-as-payment-classify-a-us-company-as-an-msb-under-fincen","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","MSB Registration (US)"],"p":["Americas","North America"],"d":"2021-05-02","x":"Most likely not. If the company that is receiving the cryptocurrency \u0026amp;/or stable coin as payment, is also the company…"},{"t":"Why do criminals engage in money laundering?","u":"why-do-criminals-engage-in-money-laundering","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":[],"d":"2021-05-01","x":"When you have a little cash it is okay to spend it. You can walk into stores and spend it. When you have lots of it, it…"},{"t":"How can a non-US crypto exchange legally onboard US customers?","u":"how-can-a-non-us-crypto-exchange-legally-onboard-us-customers","c":"Crypto and VASP Licensing","s":["Crypto Licensing","Crypto Regulation"],"p":["New York","Restricted Jurisdictions"],"d":"2021-04-08","x":"You can do this three ways: Obtain your own Money Transmitter Licenses, including the coveted BitLicense (for the State…"},{"t":"Who ultimately receives the funds when a company is sold?","u":"who-ultimately-receives-the-funds-when-a-company-is-sold","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Equities","Securities"],"p":[],"d":"2021-04-02","x":"The owners of the company do, which in this case, the shareholders of the company get the money. When a company is sold…"},{"t":"Why does McKinsey report cross-border flows in the hundreds of trillions of dollars?","u":"why-does-mckinsey-report-cross-border-flows-in-the-hundreds-of-trillions-of-dollars","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Cross-Border B2B Payments"],"p":[],"d":"2021-04-01","x":"The cross border flow implies the cross-border payments that are made between two countries. The B2B…"},{"t":"Are there countries where non-residents can open bank accounts without visiting in person?","u":"are-there-countries-where-non-residents-can-open-bank-accounts-without-visiting-in-person","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Ireland","Japan"],"d":"2021-04-01","x":"In some country? Yes. Be informed that in countries like the US, Canada, UK, Ireland, European Union, Japan, South…"},{"t":"How are bank routing numbers structured in Pakistan?","u":"how-are-bank-routing-numbers-structured-in-pakistan","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2021-03-08","x":"Pakistan does not use the routing number per se. We have two local schemes, somewhat convoluted. We have each bank…"},{"t":"What major problems in payments technology remain unsolved?","u":"what-major-problems-in-payments-technology-remain-unsolved","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2021-03-06","x":"Interoperability in Payments . We currently have an amazing level of interoperability in our communication networks,…"},{"t":"Will Facebook Novi threaten small and mid-sized money transfer operators?","u":"will-facebook-novi-threaten-small-and-mid-sized-money-transfer-operators","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":[],"d":"2021-03-06","x":"YES! When Novi formally launches they have huge advantages over the small and medium money transfer businesses, namely,…"},{"t":"Why is the Apple credit card receiving so much attention?","u":"why-is-the-apple-credit-card-receiving-so-much-attention","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2021-03-03","x":"There are plenty of examples and articles to cite the benefits, etc. about the Apple credit card. Here are some…"},{"t":"How can governments influence remittance inflows and outflows?","u":"how-can-governments-influence-remittance-inflows-and-outflows","c":"Payment Corridors and Remittance Economics","s":["Remittance Economics","Remittance Corridors"],"p":[],"d":"2021-03-03","x":"The government can incentivize. Use game theory to make sending remittances back home, earn more points. These are not…"},{"t":"Why do interbank transfers take longer than transfers within the same bank?","u":"why-do-interbank-transfers-take-longer-than-transfers-within-the-same-bank","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Payment Clearing"],"p":[],"d":"2021-03-02","x":"Let me answer this question with a physical analogy. Movement of money within the bank is the equivalent of taking money…"},{"t":"Is wiring money illegal under any circumstances?","u":"is-wiring-money-illegal-under-any-circumstances","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":[],"d":"2021-03-02","x":"Wiring money is legal. However, it is illegal to wire money if you are engaged in a business or activity for which you…"},{"t":"Which countries receive the highest volume of remittances globally?","u":"which-countries-receive-the-highest-volume-of-remittances-globally","c":"Payment Corridors and Remittance Economics","s":["Remittance Data","Remittance Economics"],"p":[],"d":"2021-03-02","x":"Top Remittance Recipients in 2018 Figures for 2019 are being released, but the countries pretty much remain the same.…"},{"t":"What is the IBAN for Wells Fargo Bank?","u":"what-is-the-iban-for-wells-fargo-bank","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers"],"p":["Americas","North America"],"d":"2021-03-02","x":"Peter Bruins very accurately has answered this question. Just to add to it. US Banks (i.e. Banks IN the United States)…"},{"t":"Can wire transfers be lost, and what causes this?","u":"can-wire-transfers-be-lost-and-what-causes-this","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Wire Transfers","Payment Infrastructure"],"p":[],"d":"2021-03-02","x":"Money can never get lost in a wire transfer. It can be delayed, stuck, reversed, flagged, credited to the wrong account,…"},{"t":"Why are PayPal transfers faster than traditional bank transfers?","u":"why-are-paypal-transfers-faster-than-traditional-bank-transfers","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Digital Wallets"],"p":[],"d":"2021-03-01","x":"It is quicker because the ‘balance’ is essentially being moved in the same company. The common denominator is that…"},{"t":"Is it realistic to create a single global currency for international trade?","u":"is-it-realistic-to-create-a-single-global-currency-for-international-trade","c":"Geopolitics of Money and the International Monetary System","s":["Monetary Systems","Geopolitics of Money"],"p":["Iran","Iranian Rial"],"d":"2021-03-01","x":"Possible? Yes. Will it happen in yours and my lifetime? Probably not. Currency is a man-made token of exchange medium.…"},{"t":"If Payoneer is linked to my bank, are received funds automatically transferred?","u":"if-payoneer-is-linked-to-my-bank-are-received-funds-automatically-transferred","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Payoneer","Online Payment Platforms"],"p":[],"d":"2021-02-11","x":"Partially Correct. Payoneer has multiple arrangements in almost every country they operate in, i.e. they have…"},{"t":"Can I use a Payoneer Mastercard to open an Amazon seller account?","u":"can-i-use-a-payoneer-mastercard-to-open-an-amazon-seller-account","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Marketplace Payments"],"p":["United States"],"d":"2021-01-08","x":"Yes, you can. What you need is not your MasterCard number, but the Payoneer payment services number (i.e. for the US, it…"},{"t":"How much does counterfeit currency sell for on the black market?","u":"how-much-does-counterfeit-currency-sell-for-on-the-black-market","c":"Money Laundering and Financial Crime","s":["Financial Crime","Financial Crime Enforcement"],"p":[],"d":"2021-01-01","x":"Depending on the currency, denomination and the quantity, typically between 5% to 10% on the low side to 15% to 30% on…"},{"t":"In correspondent banking, who sets FX rates and who profits from them?","u":"in-correspondent-banking-who-sets-fx-rates-and-who-profits-from-them","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Banking Relationships","Correspondent Tie-Ups"],"p":["United States Dollar"],"d":"2020-12-02","x":"It depends. If you’re looking at something like Remittance-as-a-Service , then the answer is as follows: Sponsoring…"},{"t":"What is Remittance-as-a-Service (RaaS)?","u":"what-is-remittance-as-a-service-raas","c":"Money Transfer Business and MTOs","s":["Remittance-as-a-Service (RaaS)","Money Transfer-as-a-Service (MTaaS)"],"p":["Developed Markets","North America"],"d":"2020-12-02","x":"Remittance-as-a-Service or RaaS is a term that was coined by myself in 2013. The quest was to find a legal method to be…"},{"t":"What prevents a major social network from becoming a full banking and payments platform?","u":"what-prevents-a-major-social-network-from-becoming-a-full-banking-and-payments-platform","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Industry","Fintech Regulation"],"p":[],"d":"2020-12-01","x":"Nothing would prevent it. Some might argue it might be inevitable. In order for any network or group to start offering…"},{"t":"Is it legal in the US for a business to issue its own internal currency for purchases?","u":"is-it-legal-in-the-us-for-a-business-to-issue-its-own-internal-currency-for-purchases","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":["Americas","Developed Markets"],"d":"2020-12-01","x":"Yes. This would be legal, but then again, IANAL (I am not a lawyer). If you replace the word ‘currency’ here with the…"},{"t":"How can someone in Pakistan get a free virtual Visa or MasterCard without a bank account?","u":"how-can-someone-in-pakistan-get-a-free-virtual-visa-or-mastercard-without-a-bank-account","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards","Credit Cards"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2020-11-05","x":"At present, you cannot. A virtual card like MasterCard or VISA is tied into bank accounts, via the issuing bank. There…"},{"t":"What is the difference between interbank FX rates and open market FX rates?","u":"what-is-the-difference-between-interbank-fx-rates-and-open-market-fx-rates","c":"FX Rates, Spreads and Currency Markets","s":["Exchange Rates","Foreign Exchange (FX)"],"p":[],"d":"2020-11-05","x":"None essentially. The mid-market is derived from open-market rate. The open market rate is the rate (buy/sell) quote…"},{"t":"Do all banks rely on intermediary banks for international wire transfers?","u":"do-all-banks-rely-on-intermediary-banks-for-international-wire-transfers","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":[],"d":"2020-11-04","x":"No. If two banks have direct access to each other and have a settlement arrangement between their ledgers, then needless…"},{"t":"Do I need a money transmitter license if my platform collects customer payments and distributes proceeds to vendors?","u":"do-i-need-a-money-transmitter-license-if-my-platform-collects-customer-payments-and-distributes-proc","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":[],"d":"2020-11-04","x":"The answer vastly depends on what relationship you have with both the customer and the supplier. Let’s start with the…"},{"t":"Can banks recall international wire transfers during compliance investigations?","u":"can-banks-recall-international-wire-transfers-during-compliance-investigations","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2020-11-04","x":"It depends. If the receiving bank wants to ‘investigate’ the money, i.e. source of funds, or if you or the transaction…"},{"t":"How can Saudi Riyals be transferred into a Pakistani Riyal-denominated account?","u":"how-can-saudi-riyals-be-transferred-into-a-pakistani-riyal-denominated-account","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Inward Remittances"],"p":["Asia","Middle East"],"d":"2020-11-04","x":"You can simply do an international wire transfer to your Pakistan Foreign Currency Account in SAR from your bank. If you…"},{"t":"Why do banks prohibit storing cash in safe deposit boxes, and how would they know?","u":"why-do-banks-prohibit-storing-cash-in-safe-deposit-boxes-and-how-would-they-know","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":["United States Dollar"],"d":"2020-11-02","x":"It is not that they would never know, they do this for a couple of reasons, the primary one is CYA - Cover Your Ass…"},{"t":"How can PRC be issued in Pakistan for a Western Union remittance?","u":"how-can-prc-be-issued-in-pakistan-for-a-western-union-remittance","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Inward Remittances"],"p":["Asia","Indian Subcontinent"],"d":"2020-11-02","x":"Your WU Agent or Bank can provide you with this. Simply ask them. If they refuse to cooperate and not provide you with a…"},{"t":"When will physical cash and coins fully disappear?","u":"when-will-physical-cash-and-coins-fully-disappear","c":"Payments (General)","s":["Cash","Payment Methods"],"p":[],"d":"2020-11-02","x":"Suffice to say in the next 50 years, our money supply of cash, coins, and paper money would be a thing of the past. The…"},{"t":"What forms of money or payment methods do you expect to use in the future?","u":"what-forms-of-money-or-payment-methods-do-you-expect-to-use-in-the-future","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Banking"],"p":["Bitcoin","Tether (USDT)"],"d":"2020-11-02","x":"Cash and traditional fiat money channels are still on top of the list, however, it seems, it does not seem too far…"},{"t":"Is it possible to send money anonymously through Western Union?","u":"is-it-possible-to-send-money-anonymously-through-western-union","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2020-11-02","x":"Most likely not possible. The transmission of money, is a licensed business. Hence, anyone participating in this…"},{"t":"Why do developing countries rely heavily on prepaid mobile services?","u":"why-do-developing-countries-rely-heavily-on-prepaid-mobile-services","c":"Emerging Markets and Financial Inclusion","s":["Emerging Market Economies","Development Economics"],"p":[],"d":"2020-10-03","x":"From a consumer point of view, it is very easy for users to understand what they are buying and paying for. Just like…"},{"t":"How did banks transmit international payment instructions before SWIFT existed?","u":"how-did-banks-transmit-international-payment-instructions-before-swift-existed","c":"History of Money, Banking and Finance","s":["History of Payment Systems","Financial History"],"p":[],"d":"2020-08-11","x":"They used a telex machine, it was like a real-time modem/typewriter that was connected and it transmitted messages in…"},{"t":"Can I use only Payoneer’s virtual card without receiving a physical card?","u":"can-i-use-only-payoneers-virtual-card-without-receiving-a-physical-card","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards","Credit Cards"],"p":[],"d":"2020-08-11","x":"At present, Payoneer does not offer VCT virtual card technology, whereby you are issued virtual cards, as opposed to a…"},{"t":"Which global payroll platform offers the lowest fees and widest coverage?","u":"which-global-payroll-platform-offers-the-lowest-fees-and-widest-coverage","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Payout Networks"],"p":[],"d":"2020-08-09","x":"The sad truth is - there is no one single platform that is standard and meets your criteria —worldwide. Sure, players…"},{"t":"Why don’t banks explain why they freeze or close accounts?","u":"why-dont-banks-explain-why-they-freeze-or-close-accounts","c":"Consumer Protection, Customer Rights and Customer Service","s":["Frozen Accounts and Holds","Consumer Protection"],"p":[],"d":"2020-08-05","x":"Predominately three reasons: They are not allowed by law to disclose. It could be something serious/not-so-serious, but…"},{"t":"How can an overseas Pakistani file a tax return with no income source?","u":"how-can-an-overseas-pakistani-file-a-tax-return-with-no-income-source","c":"Tax and Financial Reporting","s":["Tax","International Tax"],"p":["Pakistan"],"d":"2020-08-01","x":"If you are an overseas Pakistani with no income source in Pakistan and have been away from Pakistan for more than 183…"},{"t":"What’s the fastest way to send money to the Philippines besides Western Union, MoneyGram, and Xoom?","u":"whats-the-fastest-way-to-send-money-to-the-philippines-besides-western-union-moneygram-and-xoom","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2020-07-08","x":"Assuming you are talking about the USA to the Philippines? Plenty of options: TransferWise, Remitly, WorldRemit, etc.…"},{"t":"Do economists classify balances in Venmo or PayPal accounts as part of M1 or M2 money supply?","u":"do-economists-classify-balances-in-venmo-or-paypal-accounts-as-part-of-m1-or-m2-money-supply","c":"Economics, Inflation and Monetary Policy","s":["Money Supply","Macroeconomics"],"p":[],"d":"2020-07-08","x":"Yes, PayPal / Venmo money is considered M1, because a wallet at the end of the day, is a For Benefit Of account for you,…"},{"t":"What role do US banks play in international money transfers?","u":"what-role-do-us-banks-play-in-international-money-transfers","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["USD Clearing","Money Plumbing (How Money Moves)"],"p":["United States","United States Dollar"],"d":"2020-07-07","x":"Predominantly two roles: US Dollar Clearing (Correspondent Banking Relationship or CBR as it is known) International…"},{"t":"When sending money to a foreign bank in another currency, which bank performs the FX conversion—the sender’s bank or the receiver’s bank—and whose exchange rate is used?","u":"when-sending-money-to-a-foreign-bank-in-another-currency-which-bank-performs-the-fx-conversionthe-se","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2020-07-07","x":"This can vary a lot, others have correctly answered that there are many different scenarios. In most cases, the currency…"},{"t":"Which companies offer API-based ACH pay-ins and payouts?","u":"which-companies-offer-api-based-ach-pay-ins-and-payouts","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Payment Integration"],"p":[],"d":"2020-07-05","x":"Almost any decent bank with a tech stack would be able to provide you with this service. Most banks are able to process…"},{"t":"Can correspondent agreements include more than two money transfer parties?","u":"can-correspondent-agreements-include-more-than-two-money-transfer-parties","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Tie-Ups","Correspondent Banking Relationships"],"p":[],"d":"2020-06-10","x":"In a way yes. Typically a correspondent tie-up is strictly between two parties, but there is a way, you can have a third…"},{"t":"Do FinCEN-registered businesses still need state money transmitter licenses?","u":"do-fincen-registered-businesses-still-need-state-money-transmitter-licenses","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":[],"d":"2020-06-10","x":"For the umpteenth time. A FinCEN registration is not a license. It is a registration for purposes of reporting to the…"},{"t":"Which is better for African correspondent banking: Turkey or the UAE?","u":"which-is-better-for-african-correspondent-banking-turkey-or-the-uae","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Banking Relationships","Correspondent Tie-Ups"],"p":["Africa","CIS (Commonwealth of Independent States)"],"d":"2020-06-10","x":"This is obviously a matter of choice. UAE used to have the lead because of its lax laws, but those loopholes are now…"},{"t":"What is the difference between deposit-taking and non-deposit-taking financial institutions with examples?","u":"what-is-the-difference-between-deposit-taking-and-non-deposit-taking-financial-institutions-with-exa","c":"How Banks Work","s":["Banks","Non-Bank Financial Institutions"],"p":[],"d":"2020-06-08","x":"A good example of a non-deposit taking financial institution would be say MoneyGram or Western Union or your USPS…"},{"t":"Why do money transfer companies struggle to access card processing services?","u":"why-do-money-transfer-companies-struggle-to-access-card-processing-services","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2020-06-08","x":"Many people wrongly assume that card acquiring (or card acceptance) is something that is available to you, as a matter…"},{"t":"Why does Nigeria have a parallel exchange rate market for the naira?","u":"why-does-nigeria-have-a-parallel-exchange-rate-market-for-the-naira","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Parallel Market Rates","Currency Controls"],"p":["Africa","Nigeria"],"d":"2020-06-08","x":"It exists because of several factors. First of all, Nigeria has capital outflow restrictions. That by itself creates…"},{"t":"Can funds be transferred from a bank account into Payoneer?","u":"can-funds-be-transferred-from-a-bank-account-into-payoneer","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Payoneer","Online Payment Platforms"],"p":[],"d":"2020-06-08","x":"As a Payoneer account holder, you cannot. The only way to load funds via a bank account into your Payoneer account is to…"},{"t":"How can I identify a merchant’s name using only the merchant ID (MID) from my bank statement?","u":"how-can-i-identify-a-merchants-name-using-only-the-merchant-id-mid-from-my-bank-statement","c":"Consumer Protection, Customer Rights and Customer Service","s":["Complaints and Disputes"],"p":[],"d":"2020-06-06","x":"At present this is no public database where you can query an MID (to the best of my knowledge). You may search Google to…"},{"t":"Do I need a money transmitter license if I collect money on behalf of someone in another country (e.g., Ghana) and pay them out monthly to reduce micro-transaction fees?","u":"do-i-need-a-money-transmitter-license-if-i-collect-money-on-behalf-of-someone-in-another-country-eg","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":["Africa","Anglophone Africa"],"d":"2020-06-06","x":"This makes you an intermediary, when you cited on behalf of a person , implies you are neither the owner of the…"},{"t":"If I receive money in the US on behalf of someone else to make an online purchase for them (they live outside the US), am I considered a money transmitter?","u":"if-i-receive-money-in-the-us-on-behalf-of-someone-else-to-make-an-online-purchase-for-them-they-live","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":["Americas","Developed Markets"],"d":"2020-06-06","x":"This comes under the Agent of Payee exemption and as such, IIRC only 12 or 13 US States recognize this exemption. Other…"},{"t":"What regulations would apply to a peer-to-peer money transfer platform (like a TransferWise/Wise matching model) if the platform never touches customer funds and only matches users?","u":"what-regulations-would-apply-to-a-peer-to-peer-money-transfer-platform-like-a-transferwisewise-match","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":[],"d":"2020-06-06","x":"If a State or Federal regulator cannot find an exact way to pin this marketplace down, then they go after intent.…"},{"t":"What would happen if someone stole $0.10 from every bank account in the world, but later paid it back using their invested billions?","u":"what-would-happen-if-someone-stole-010-from-every-bank-account-in-the-world-but-later-paid-it-back-u","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2020-06-06","x":"With roughly 7 Billion people in the world and 2 Billion being unbanked. You have essentially 5 Billion Bank Accounts to…"},{"t":"How are US money transmitters surviving “de-risking” (loss of banking relationships), and what workarounds do they use?","u":"how-are-us-money-transmitters-surviving-de-risking-loss-of-banking-relationships-and-what-workaround","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Banking Access","Fintech Banking Relationships"],"p":["Americas","Developed Markets"],"d":"2020-06-06","x":"Those with money transmitter licenses, will survive the derisking, but not on their terms. The entire derisking exercise…"},{"t":"Can a fintech startup legally rent a money transmitter license?","u":"can-a-fintech-startup-legally-rent-a-money-transmitter-license","c":"Licensing Strategy, Sponsorship and Agent Models","s":["License Sponsorship","Licensing Strategy"],"p":["Americas","Developed Markets"],"d":"2020-06-05","x":"The answer is yes. You don’t actually “rent” a license, but you can get is essentially a sponsorship by a Program…"},{"t":"Is there profit potential in launching a remittance business focused on Somalia?","u":"is-there-profit-potential-in-launching-a-remittance-business-focused-on-somalia","c":"Money Transfer Business and MTOs","s":["Starting a Remittance Business","Money Transfer Operators (MTO)"],"p":["Africa","East Africa"],"d":"2020-06-03","x":"tl:dr; Yes. Like every other country that depends on remittances, there is definitely money to be made in the money…"},{"t":"Will money transfer operators be disrupted by Facebook’s Novi?","u":"will-money-transfer-operators-be-disrupted-by-facebooks-novi","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":[],"d":"2020-06-03","x":"This is an easy one to predict. A gradual transformation is happening. I believe that money transfer as a business is…"},{"t":"How can an international business access SquareCash, Venmo, or PayPal APIs?","u":"how-can-an-international-business-access-squarecash-venmo-or-paypal-apis","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Payment Integration"],"p":[],"d":"2020-06-01","x":"Almost all such services provide access to their APIs via their developer/partner program. I know PayPal does, not sure…"},{"t":"What is the difference between white-label sponsorship and being an agent of a money transfer company?","u":"what-is-the-difference-between-white-label-sponsorship-and-being-an-agent-of-a-money-transfer-compan","c":"Licensing Strategy, Sponsorship and Agent Models","s":["License Sponsorship","Sponsorship Models"],"p":["EMEA","Europe"],"d":"2020-06-01","x":"The answer can vary from geography to geography. Each financial regulator provides its own prescribed set of rules on…"},{"t":"What alternatives to SWIFT exist for international payments?","u":"what-alternatives-to-swift-exist-for-international-payments","c":"Payments (General)","s":["SWIFT Alternatives","Payment Methods"],"p":[],"d":"2020-05-12","x":"SWIFT is a messaging system used by banks for purposes of payments \u0026amp; settlement. It is not an actual payment system per…"},{"t":"Can I send funds from Pakistan to Australia using TransferWise/Wise?","u":"can-i-send-funds-from-pakistan-to-australia-using-transferwisewise","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Australia","Pakistan"],"d":"2020-05-11","x":"No. At present, you cannot send money outside of Pakistan by using Transferwise from within Pakistan."},{"t":"Is the Payoneer card a credit card or prepaid debit card?","u":"is-the-payoneer-card-a-credit-card-or-prepaid-debit-card","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards","Debit Cards"],"p":[],"d":"2020-05-08","x":"Payoneer’s card is a pre-paid debit card. The word pre-paid implies, that you must have money in your account for the…"},{"t":"Who regulates international money transfers globally?","u":"who-regulates-international-money-transfers-globally","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Cross-Border Payment Regulation"],"p":["Philippines","Texas"],"d":"2020-05-08","x":"No one regulates international money transfers. Each jurisdiction (originating, transit and termination) have their own…"},{"t":"Can you recommend law firms that specialize in US payments and money transmission regulation?","u":"can-you-recommend-law-firms-that-specialize-in-us-payments-and-money-transmission-regulation","c":"US Money Transmitter Licensing and MSB Registration","s":["US Licensing","Money Transmitter Licenses (MTL)"],"p":["Americas","Developed Markets"],"d":"2020-05-06","x":"For US Licensing/Payments Law: Start with talking to… Daniel Weiss, President and Chief Executive Officer, Chartwell…"},{"t":"Are TransferWise borderless account balances visible to tax authorities?","u":"are-transferwise-borderless-account-balances-visible-to-tax-authorities","c":"Tax and Financial Reporting","s":["International Tax","Tax"],"p":["Australia","Developed Markets"],"d":"2020-04-11","x":"They are not visible to the government in the traditional sense. Both United Kingdom (from where TransferWise is based)…"},{"t":"Can PayPal payments be sent without revealing the sender’s name?","u":"can-paypal-payments-be-sent-without-revealing-the-senders-name","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Digital Wallets"],"p":[],"d":"2020-04-11","x":"No you cannot. Anonymity in payments is frowned upon and all participating banks, payment institutions, and e-money…"},{"t":"Why do bank transfers still take days to complete?","u":"why-do-bank-transfers-still-take-days-to-complete","c":"International Wire Transfers and Large Transfers","s":["Wire Transfer Delays and Tracing","International Wire Transfers"],"p":[],"d":"2020-04-11","x":"There are many reasons. Interest (or float, interest on free money every day) is what banks love. However, of late, in a…"},{"t":"Which large companies missed out on the payments opportunity?","u":"which-large-companies-missed-out-on-the-payments-opportunity","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Competitive Analysis"],"p":["California"],"d":"2020-04-10","x":"I would have to go with Microsoft . For reasons unbeknownst to us and everyone else, Microsoft did not enter the…"},{"t":"Can USD cash be used for everyday transactions in Venezuela (like taxis and meals), or do I need bolivars?","u":"can-usd-cash-be-used-for-everyday-transactions-in-venezuela-like-taxis-and-meals-or-do-i-need-boliva","c":"Payments (General)","s":["Payment Methods","Cash"],"p":["Latin America","Latin America (LatAm)"],"d":"2020-03-08","x":"You can absolutely use US Dollars. They are happily accepted. Most venues will quote you in USD to pay for…"},{"t":"Should I use Bitcoin or TransferWise/Wise to transfer money to myself internationally if I’m not in a rush but want to minimize FX “racketeering” fees?","u":"should-i-use-bitcoin-or-transferwisewise-to-transfer-money-to-myself-internationally-if-im-not-in-a","c":"Sending and Receiving Money Abroad","s":["Money Transfer","All-In Cost of Transfers"],"p":["Bitcoin","United States Dollar"],"d":"2020-03-08","x":"It depends if you’re able to cash out into fiat using Bitcoin. If that option is available, then Bitcoin might just be…"},{"t":"Why is Bank of America’s ACH transfer process so slow?","u":"why-is-bank-of-americas-ach-transfer-process-so-slow","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":["United States"],"d":"2020-03-05","x":"There are over 10,000+ banks in the US. The ACH system was developed over 40 years ago, it is still being used, that is…"},{"t":"Can someone split $1B across multiple FDIC-insured banks and live off the interest legally?","u":"can-someone-split-1b-across-multiple-fdic-insured-banks-and-live-off-the-interest-legally","c":"Wealth Management, Private Banking and Family Offices","s":["Wealth Management","Asset Management"],"p":["United States","United States Dollar"],"d":"2020-02-08","x":"Not sure of US$ 1 Billion, but this practice is very much done. FBO (For Benefit Accounts) are created and are…"},{"t":"How can a non-resident obtain a high-risk merchant account in the US?","u":"how-can-a-non-resident-obtain-a-high-risk-merchant-account-in-the-us","c":"Merchant Accounts, Processors and Gateways","s":["High-Risk Merchant Accounts","Merchant Accounts"],"p":["Americas","Delaware"],"d":"2020-02-08","x":"If your acquiring needs are from the US, then you need to incorporate there. Simply register a company in the US…"},{"t":"Do US authorities monitor PayPal transactions for illegal activity?","u":"do-us-authorities-monitor-paypal-transactions-for-illegal-activity","c":"AML Programs, KYC and Compliance Operations","s":["Transaction Monitoring","Financial Surveillance"],"p":["Americas","Developed Markets"],"d":"2020-02-08","x":"Directly? no. Indirectly? Yes. PayPal like all other businesses in the financial services sector is highly regulated on…"},{"t":"What should be entered in SBI remittance instructions for foreign transfers?","u":"what-should-be-entered-in-sbi-remittance-instructions-for-foreign-transfers","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Outward Remittances"],"p":["FEMA"],"d":"2020-02-08","x":"Typically one can enter “Family maintenance allowance” which would suffice for purposes of remittances, denoting that…"},{"t":"Which currency has the highest value globally today?","u":"which-currency-has-the-highest-value-globally-today","c":"FX Rates, Spreads and Currency Markets","s":["Foreign Exchange (FX)","Currency Exchange"],"p":["Kuwait","Kuwaiti Dinar"],"d":"2020-02-07","x":"None. This is a very relative answer. As far as the worth is concerned, the Kuwaiti Dinar is worth the most, at the time…"},{"t":"Can TransferWise balances be withdrawn as cash?","u":"can-transferwise-balances-be-withdrawn-as-cash","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards"],"p":[],"d":"2020-02-04","x":"Only to your bank, from where you can cash out, or by using the Transferwise Borderless Account Debit Card, where you…"},{"t":"What’s the safest way to cash out a large amount of cryptocurrency?","u":"whats-the-safest-way-to-cash-out-a-large-amount-of-cryptocurrency","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto-to-Fiat Conversion","Fiat Off-Ramps"],"p":["Hong Kong"],"d":"2020-02-04","x":"How large are we talking here. Large for you could be $25,000 and it would be a relatively small amount for other…"},{"t":"How will central banks regulate cryptocurrency, and what are the privacy implications?","u":"how-will-central-banks-regulate-cryptocurrency-and-what-are-the-privacy-implications","c":"Crypto and VASP Licensing","s":["Crypto Regulation","Crypto Licensing"],"p":[],"d":"2020-02-03","x":"Eventually pretty much as other equities or related value assets are regulated. You would need to be licensed to issue…"},{"t":"Why did Transfast discontinue its online money transfer service in February 2020?","u":"why-did-transfast-discontinue-its-online-money-transfer-service-in-february-2020","c":"Starting and Running a Fintech or Payments Business","s":["Payments Business Models","Money Transfer Business Models"],"p":[],"d":"2020-02-02","x":"Presumably because once MasterCard acquired it, it does not want the company to continue with online payments and…"},{"t":"What is the total amount of money transferred globally each day?","u":"what-is-the-total-amount-of-money-transferred-globally-each-day","c":"Payments (General)","s":["Payment Industry Overview","Payment Basics"],"p":[],"d":"2020-02-02","x":"No one knows. This would require one to look at the daily published figures of each and every payment system in the…"},{"t":"What is the accounting system that tracks a country’s international financial transactions called?","u":"what-is-the-accounting-system-that-tracks-a-countrys-international-financial-transactions-called","c":"General Finance Questions","s":["Finance Terminology","Definitions"],"p":[],"d":"2020-02-01","x":"FX or Foreign Exchange. In most banks and the central bank, this is accounting head (or chart of accounts) under which…"},{"t":"Can I transfer $20,000 from the US to Australia without triggering compliance flags?","u":"can-i-transfer-20000-from-the-us-to-australia-without-triggering-compliance-flags","c":"International Wire Transfers and Large Transfers","s":["Large International Transfers","International Wire Transfers"],"p":["Australia","Australian Dollar"],"d":"2020-02-01","x":"Certainly. The part of being flagged (or not), doesn’t lie in your hands and also does not lie in the amount you…"},{"t":"Are money transfers like Western Union taxed by the US government?","u":"are-money-transfers-like-western-union-taxed-by-the-us-government","c":"Tax and Financial Reporting","s":["Tax on Remittances","Tax"],"p":["Oklahoma","Saudi Arabia"],"d":"2020-02-01","x":"Not at the moment. In the United States for example, Oklahoma (OK) is the only state to have a remittance tax . This is…"},{"t":"What distinguishes a commercial bank from a nationalized bank?","u":"what-distinguishes-a-commercial-bank-from-a-nationalized-bank","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2020-02-01","x":"Pretty much. National banks are commercial/retail banks (depending on the country) except they are owned or majority…"},{"t":"Could countries eventually replace the US dollar with Bitcoin as a reserve currency?","u":"could-countries-eventually-replace-the-us-dollar-with-bitcoin-as-a-reserve-currency","c":"Geopolitics of Money and the International Monetary System","s":["Reserve Currencies","Monetary Systems"],"p":["Bitcoin","United States Dollar"],"d":"2020-02-01","x":"Difficult to say. The fiat currencies we have today, have built-in fault lines within them when it comes to issuance and…"},{"t":"Are government banking regulations overly burdensome for banks and the public?","u":"are-government-banking-regulations-overly-burdensome-for-banks-and-the-public","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulatory Policy Debates"],"p":[],"d":"2020-01-12","x":"Yes, but what most people do not understand, much of the regulation comes about from the lobbying effort the bank…"},{"t":"How do companies prevent money laundering?","u":"how-do-companies-prevent-money-laundering","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Policies and Procedures"],"p":[],"d":"2020-01-12","x":"Quite an open-ended question. Most companies may know or not know that they are laundering money. One of the most…"},{"t":"Is it risky to keep all your money in a single bank?","u":"is-it-risky-to-keep-all-your-money-in-a-single-bank","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Saving"],"p":["United States","United States Dollar"],"d":"2020-01-10","x":"Whilst it usually is for most of the customers who are banked, they still would like a mental satisfaction of having two…"},{"t":"Can licensed money transmitters sponsor other companies under their licenses?","u":"can-licensed-money-transmitters-sponsor-other-companies-under-their-licenses","c":"Licensing Strategy, Sponsorship and Agent Models","s":["License Sponsorship","Sponsorship Models"],"p":[],"d":"2020-01-10","x":"Yes, of course, they can. They can become a program manager for the institution that needs sponsorship or can make that…"},{"t":"Why are contactless cards called contactless if tapping is required?","u":"why-are-contactless-cards-called-contactless-if-tapping-is-required","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Debit Cards"],"p":[],"d":"2020-01-10","x":"They are called contactless because there is no physical contact being made to read the data off the card (like a chip…"},{"t":"What happens to funds in forgotten or unclaimed bank accounts?","u":"what-happens-to-funds-in-forgotten-or-unclaimed-bank-accounts","c":"How Banks Work","s":["Banks","Dormant Accounts"],"p":[],"d":"2020-01-09","x":"In most cases, after “X” many years (the number varies from country to country), the asset balance is shifted from the…"},{"t":"How can I track the location of money sent using a SWIFT transfer?","u":"how-can-i-track-the-location-of-money-sent-using-a-swift-transfer","c":"International Wire Transfers and Large Transfers","s":["SWIFT Transfers","International Wire Transfers"],"p":[],"d":"2020-01-09","x":"You don’t. You are not given, nor provided any visibility of the SWIFT message requesting transfer of funds. Even banks…"},{"t":"What are the best fintech podcasts?","u":"what-are-the-best-fintech-podcasts","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Podcasts","Content"],"p":[],"d":"2020-01-08","x":"I recently compiled a list at Top Fintech Podcasts. The goal is to look at the quality of the content, viewership,…"},{"t":"Is there any way to create a PayPal account for a minor?","u":"is-there-any-way-to-create-a-paypal-account-for-a-minor","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Peer-to-Peer Payments"],"p":["Americas","North America"],"d":"2020-01-08","x":"No, you are not allowed to use PayPal. You have to be at least 18 years of age. Assuming you’re in the United States,…"},{"t":"How do private banks create money?","u":"how-do-private-banks-create-money","c":"Economics, Inflation and Monetary Policy","s":["Money Creation","Commercial Bank Money"],"p":[],"d":"2020-01-07","x":"There is a great documentary that explains just that. It is a misnomer that deposited money is lent out again and again…"},{"t":"Why do people still fall victim to Western Union scams?","u":"why-do-people-still-fall-victim-to-western-union-scams","c":"Fraud and Scams","s":["Money Transfer Scams","Payment Fraud"],"p":[],"d":"2020-01-07","x":"Gullibility. Add to that mix, the limited understanding of doing due diligence, being aware of signs of a scam and the…"},{"t":"What resources help newcomers learn the payments industry quickly?","u":"what-resources-help-newcomers-learn-the-payments-industry-quickly","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Learning Resources","Training"],"p":[],"d":"2020-01-07","x":"tl;dr: there is no single place. If you are new to this space, read payments related news. That would at the very least…"},{"t":"Does the money in bank accounts physically exist or only digitally?","u":"does-the-money-in-bank-accounts-physically-exist-or-only-digitally","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2020-01-07","x":"Very little money physically exists. Almost 97% of the money is digital in nature, exactly that, the proverbial figures…"},{"t":"Can someone open a US bank account from Nepal?","u":"can-someone-open-a-us-bank-account-from-nepal","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["Americas","Nepal"],"d":"2020-01-07","x":"Not directly in the United States, however, if you google, you might be able to open one in one of the territories, like…"},{"t":"Can a company charge the final amount to a credit card on file (saved at deposit) without getting permission again?","u":"can-a-company-charge-the-final-amount-to-a-credit-card-on-file-saved-at-deposit-without-getting-perm","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Card Disputes"],"p":[],"d":"2020-01-06","x":"Can they? Yes. The mechanism exists. Is it legal? Depends on the fine-print when the deposit was being made. What did…"},{"t":"What’s the difference between foreign exchange (FX) and the foreign exchange rate?","u":"whats-the-difference-between-foreign-exchange-fx-and-the-foreign-exchange-rate","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Foreign Exchange (FX)"],"p":["Philippine Peso"],"d":"2020-01-06","x":"To give you an analogy, the same difference between an Airline and its flight number. Foreign Exchange refers to a…"},{"t":"Can someone withdraw funds if they have access to my email and bank statements?","u":"can-someone-withdraw-funds-if-they-have-access-to-my-email-and-bank-statements","c":"Fraud and Scams","s":["Fraud Prevention","Fraud Risk Management"],"p":[],"d":"2020-01-04","x":"No. There isn’t a bank that I know of that would allow such an easy walk through to happen. The email and bank statement…"},{"t":"Will a bank allow you to deposit money into another person’s bank account without their involvement?","u":"will-a-bank-allow-you-to-deposit-money-into-another-persons-bank-account-without-their-involvement","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Payment Infrastructure"],"p":[],"d":"2020-01-04","x":"In most cases, Yes. Banks typically do not have firewall lists where a customer can choose who can (and cannot) deposit…"},{"t":"How can a Nigerian graduate earning very little increase their income?","u":"how-can-a-nigerian-graduate-earning-very-little-increase-their-income","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Earning Money Online","Income Streams"],"p":["Africa","Global South"],"d":"2020-01-04","x":"Know photoshop? Start your own small business. It is not too difficult to learn photoshop, there are plenty of tutorials…"},{"t":"How can someone legally bring a $2 million inheritance into the US?","u":"how-can-someone-legally-bring-a-2-million-inheritance-into-the-us","c":"Sending and Receiving Money Abroad","s":["Inward Remittances","Receiving Money from Abroad (Consumer)"],"p":["United States"],"d":"2020-01-04","x":"You can bring as much money as you want to the United States. There are no limits or restrictions. A simple way to do…"},{"t":"What are the first principles behind how financial capital moves across the global economy?","u":"what-are-the-first-principles-behind-how-financial-capital-moves-across-the-global-economy","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2020-01-04","x":"Is it Legal? First rule of cross border value transfer is to find out what the legal rulings with respect to flow of…"},{"t":"If a bank calls you, what questions can you ask to verify the caller is legitimate even if the number appears genuine?","u":"if-a-bank-calls-you-what-questions-can-you-ask-to-verify-the-caller-is-legitimate-even-if-the-number","c":"Fraud and Scams","s":["Fraud Prevention","Scam Awareness"],"p":[],"d":"2020-01-01","x":"Usually, this is the routine I follow. I greet them properly. Before they have a chance to speak, I will let them know…"},{"t":"Which types of bank transactions are classified as international?","u":"which-types-of-bank-transactions-are-classified-as-international","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":[],"d":"2020-01-01","x":"Typically any transactions that involve an external ledger and settlement with another bank (be it correspondent or…"},{"t":"Can wire transfers get lost, and what are the common reasons this happens?","u":"can-wire-transfers-get-lost-and-what-are-the-common-reasons-this-happens","c":"International Wire Transfers and Large Transfers","s":["Wire Transfer Delays and Tracing","International Wire Transfers"],"p":[],"d":"2020-01-01","x":"A wire transfer is never lost per se. There are literally 100s of scenarios as to why a wire transfer is either not…"},{"t":"How did large money transfers happen before modern banks and coinage?","u":"how-did-large-money-transfers-happen-before-modern-banks-and-coinage","c":"History of Money, Banking and Finance","s":["Financial History","Economic History"],"p":[],"d":"2019-12-08","x":"Before banks per se, there weren’t any large transfers. Wealth or value was transferred either through property title…"},{"t":"Can an illiterate person operating a current account issue a cheque using a thumbprint?","u":"can-an-illiterate-person-operating-a-current-account-issue-a-cheque-using-a-thumbprint","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2019-12-02","x":"The requirement on the check where the signature part is to go, calls for an Autograph of the person there. So a…"},{"t":"Why can’t newer money transfer services (like TransferWise/Wise and WorldRemit) send money from some emerging markets where demand exists?","u":"why-cant-newer-money-transfer-services-like-transferwisewise-and-worldremit-send-money-from-some-eme","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Capital Controls","Currency Controls"],"p":[],"d":"2019-12-02","x":"The reason is not why these new money transfer operators are not able to send money out from these emerging markets…"},{"t":"What could be the biggest implications for Pakistani startups and SMBs if Pakistan is placed on FATF’s grey list or black list?","u":"what-could-be-the-biggest-implications-for-pakistani-startups-and-smbs-if-pakistan-is-placed-on-fatf","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Fintech Banking Relationships","Banking Access"],"p":["Pakistan","Restricted Jurisdictions"],"d":"2019-12-02","x":"Kinda complicated to ask, but what happened when Pakistan was on the list a couple of years ago? Betcha you don’t…"},{"t":"How quickly do authorities detect money transfer fraud?","u":"how-quickly-do-authorities-detect-money-transfer-fraud","c":"Fraud and Scams","s":["Fraud Detection","Payment Fraud"],"p":[],"d":"2019-11-12","x":"Not as quickly as one would like to believe. In this case, crime is always one step ahead of the law. Transactions large…"},{"t":"Who built the first electronic payment processing system?","u":"who-built-the-first-electronic-payment-processing-system","c":"History of Money, Banking and Finance","s":["History of Payment Systems","Financial History"],"p":[],"d":"2019-11-12","x":"The Sumerians, circa 4,500 B.C. They invented money and hence the system for documenting and processing how money moved…"},{"t":"How do correspondent banking relationships work in remittances?","u":"how-do-correspondent-banking-relationships-work-in-remittances","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Banking Relationships","Correspondent Tie-Ups"],"p":[],"d":"2019-11-12","x":"When you are being provided sponsorship by a bank \u0026amp;/or a licensed financial institution (LFI), it is important you…"},{"t":"How do you obtain licensing and banking for a US-to-Kenya remittance app?","u":"how-do-you-obtain-licensing-and-banking-for-a-us-to-kenya-remittance-app","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":["Africa","Kenya"],"d":"2019-11-09","x":"The “How” is easy, you need to apply for a money transmitter license in the United States with each individual state and…"},{"t":"Can I receive funds in my Payoneer account from another Payoneer account?","u":"can-i-receive-funds-in-my-payoneer-account-from-another-payoneer-account","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Payoneer","Online Payment Platforms"],"p":[],"d":"2019-11-09","x":"Yes, you can. Within Payoneer, there is a system to make payment to any other Payoneer user. You have to know the email…"},{"t":"Is there such a thing as a “professional money launderer,” and do criminals hire specialists to launder money for them?","u":"is-there-such-a-thing-as-a-professional-money-launderer-and-do-criminals-hire-specialists-to-launder","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":[],"d":"2019-11-09","x":"Yes. There are many such players in the banking and payments world that do this for a living. Needless to say, they…"},{"t":"What’s the difference between a settlement bank and a remitting bank?","u":"whats-the-difference-between-a-settlement-bank-and-a-remitting-bank","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":[],"d":"2019-11-03","x":"Remitting bank in most cases is the originating bank, the institution that is originating the transaction on behalf of…"},{"t":"If someone wires me $150, could I be charged with wire fraud?","u":"if-someone-wires-me-150-could-i-be-charged-with-wire-fraud","c":"Money Laundering and Financial Crime","s":["Financial Crime","Financial Crime Enforcement"],"p":[],"d":"2019-11-03","x":"Too little information to go on. If the transfer is tainted, you could possibly be charged as a co-conspirator if there…"},{"t":"Can SWIFT be used for domestic transfers within a country?","u":"can-swift-be-used-for-domestic-transfers-within-a-country","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Wire Transfers"],"p":[],"d":"2019-11-02","x":"SWIFT is a messaging system. It does not transfer money per se. To answer your question, yes, what you are proposing,…"},{"t":"What effect could Bitcoin have on international trade?","u":"what-effect-could-bitcoin-have-on-international-trade","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Cross-Border B2B Payments"],"p":["Bitcoin"],"d":"2019-11-01","x":"At present? Immediate future? Negligible. Whilst Bitcoin is great, international trade requires a more stable (read: non…"},{"t":"If someone in the US sends crypto abroad, the recipient sells it, and sends fiat proceeds back—are there legal or compliance risks?","u":"if-someone-in-the-us-sends-crypto-abroad-the-recipient-sells-it-and-sends-fiat-proceeds-backare-ther","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business License"],"p":["Americas","Developed Markets"],"d":"2019-11-01","x":"No. You’d be okay, as long as you do it for yourself. The worse that can happen is that you will lose access to banking.…"},{"t":"If I can receive international client payments directly to my bank, why would I use Payoneer?","u":"if-i-can-receive-international-client-payments-directly-to-my-bank-why-would-i-use-payoneer","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Payoneer","Online Payment Platforms"],"p":["Bangladesh","Emerging Markets"],"d":"2019-10-11","x":"Use cases differ from person to person. In many cases, Payoneer users are from abroad, outside the EU/UK and outside…"},{"t":"How are transactions worth over a billion dollars executed in practice?","u":"how-are-transactions-worth-over-a-billion-dollars-executed-in-practice","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":[],"d":"2019-10-04","x":"Depends on the payment. If both the payment parties are in the same country, it can be settled by a cheque even. The…"},{"t":"Are deposits in Pakistani retail banks protected by any government-backed deposit insurance like FDIC?","u":"are-deposits-in-pakistani-retail-banks-protected-by-any-government-backed-deposit-insurance-like-fdi","c":"Central Banks and Bank Supervision","s":["Deposit Insurance","Banking Economics"],"p":["Pakistan"],"d":"2019-10-02","x":"No. Pakistan does not have a deposit insurance program and neither are the deposits covered by any other insurance…"},{"t":"How can I take PayPal Europe Ltd to court if they’re holding $26,000 for 180 days without a clear reason?","u":"how-can-i-take-paypal-europe-ltd-to-court-if-theyre-holding-26000-for-180-days-without-a-clear-reaso","c":"Consumer Protection, Customer Rights and Customer Service","s":["Frozen Accounts and Holds","Complaints and Disputes"],"p":["EMEA","Europe"],"d":"2019-10-01","x":"PayPal doesn’t hold money of its client and prevent you from gaining access to it without reason. There always is a…"},{"t":"Is it legal for banks to block or limit transfers to cryptocurrency exchanges?","u":"is-it-legal-for-banks-to-block-or-limit-transfers-to-cryptocurrency-exchanges","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Crypto Banking Relationships","De-Banking"],"p":["United States"],"d":"2019-10-01","x":"Banks by law have to provide banking services to you. They cannot unilaterally shut you out. There has to be a basis.…"},{"t":"Which major cryptocurrency exchanges are likely to fail (e.g., among the top 25)?","u":"which-major-cryptocurrency-exchanges-are-likely-to-fail-eg-among-the-top-25","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Exchange Failures"],"p":[],"d":"2019-10-01","x":"My bets for failing are on HitBTC. This exchange is doing everything wrong, correctly! One of the most fundamental way…"},{"t":"Can Pakistani banks transfer funds online to UAE banks?","u":"can-pakistani-banks-transfer-funds-online-to-uae-banks","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","Middle East"],"d":"2019-09-11","x":"No. Cross-border transfers are not allowed online. If you have a US Dollar account, you will have to go to your bank and…"},{"t":"Why must non-US transactions often clear through US banks?","u":"why-must-non-us-transactions-often-clear-through-us-banks","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["USD Clearing","Clearing Banks"],"p":["United States","United States Dollar"],"d":"2019-09-09","x":"If the clearing and settlement is done in United States Dollars, even for a transaction that is not originating or…"},{"t":"If I collect money from people and send it using a licensed money transmitter’s app, is that legal in the US—and can I charge a fee for doing it?","u":"if-i-collect-money-from-people-and-send-it-using-a-licensed-money-transmitters-app-is-that-legal-in","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Transmitter Licenses (MTL)"],"p":["Americas","Developed Markets"],"d":"2019-09-09","x":"Yes, this is clearly prohibited and illegal on two fronts. First, when you collect money that doesn’t belong to you,…"},{"t":"How affordable is living in Istanbul when earning in US dollars?","u":"how-affordable-is-living-in-istanbul-when-earning-in-us-dollars","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Budgeting"],"p":["Singapore","Turkey"],"d":"2019-09-08","x":"First of all, earning in US Dollars is a huge benefit as it is in Turkey. As the Turkish Lira has weakened against the…"},{"t":"Do you need a money transmitter license in New Jersey to operate a Bitcoin ATM business, and why?","u":"do-you-need-a-money-transmitter-license-in-new-jersey-to-operate-a-bitcoin-atm-business-and-why","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","State Crypto Licensing"],"p":["Bitcoin","New Jersey"],"d":"2019-09-08","x":"Yes. Reason, because you are providing intermediary services with cash (can even be electronic) of which money receiving…"},{"t":"Is TransferWise/Wise a good option for sending money abroad?","u":"is-transferwisewise-a-good-option-for-sending-money-abroad","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2019-09-08","x":"Yes. No doubt Wise (formerly TransferWise) is a great company to use to send money abroad. Their rates are extremely…"},{"t":"What are the costs associated with surety bonds for US money transmitter licenses?","u":"what-are-the-costs-associated-with-surety-bonds-for-us-money-transmitter-licenses","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","MTL Bonding and Financial Requirements"],"p":["Americas","Arizona"],"d":"2019-09-05","x":"It depends on the minimum amount as requested by each state (which varies from State to State). Grimes Law (out of…"},{"t":"How long does it take to obtain money transmitter licenses nationwide in the US?","u":"how-long-does-it-take-to-obtain-money-transmitter-licenses-nationwide-in-the-us","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["California","New York"],"d":"2019-09-05","x":"Up to two years. Some states like Alabama, Arkansas, Iowa, etc. might come in 3–4 months, most of the other states will…"},{"t":"Can non-US institutions sponsor US crypto businesses legally?","u":"can-non-us-institutions-sponsor-us-crypto-businesses-legally","c":"Licensing Strategy, Sponsorship and Agent Models","s":["License Sponsorship","Licensable Activities"],"p":["New York","Puerto Rico"],"d":"2019-09-04","x":"No. All in all, this is a BS claim. As I have already cited in my other answers, please do not be fooled or conned by…"},{"t":"How do stablecoins work?","u":"how-do-stablecoins-work","c":"Stablecoins and CBDCs","s":["Fiat-Backed Stablecoins","Stablecoin Issuance"],"p":[],"d":"2019-09-04","x":"Day 1: Single IOU Let’s say you walk into your bank in America and present $ 100,000 to the bank, and ask them to make a…"},{"t":"Is the era of the US dollar ending, and could oil/gold be priced in another currency like EUR or JPY?","u":"is-the-era-of-the-us-dollar-ending-and-could-oilgold-be-priced-in-another-currency-like-eur-or-jpy","c":"Geopolitics of Money and the International Monetary System","s":["Monetary Systems","US Dollar Dominance"],"p":["Euro","Gold"],"d":"2019-09-04","x":"Eventually, yes, the US Dollar will end. Will it be in the next 50 years or 100 years or 400 years, no one knows.…"},{"t":"If someone scammed me in Bitcoin in Pakistan, should I report it to the police or FIA—especially if Bitcoin is illegal?","u":"if-someone-scammed-me-in-bitcoin-in-pakistan-should-i-report-it-to-the-police-or-fiaespecially-if-bi","c":"Fraud and Scams","s":["Crypto Scams","Fraud Victim Recourse"],"p":["Asia","Bitcoin"],"d":"2019-09-04","x":"Bitcoin is not illegal in Pakistan (at the time of writing this answer). There is no entry in the Pakistan Penal Code…"},{"t":"Can foreign banks provide money transmitter coverage inside the US?","u":"can-foreign-banks-provide-money-transmitter-coverage-inside-the-us","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":[],"d":"2019-09-03","x":"No. Please do not be fooled or conned by someone claiming to provide you with such an arrangement. Almost every licensed…"},{"t":"How difficult is licensing for crypto exchanges in the US?","u":"how-difficult-is-licensing-for-crypto-exchanges-in-the-us","c":"Crypto and VASP Licensing","s":["Crypto Licensing","Crypto Regulation"],"p":["Americas","Developed Markets"],"d":"2019-09-01","x":"It is not easy. Meaning, you need to have adequate finances for it. To operate a crypto exchange in the United States,…"},{"t":"How can a cash-strapped startup obtain US money transmitter licenses?","u":"how-can-a-cash-strapped-startup-obtain-us-money-transmitter-licenses","c":"Licensing Strategy, Sponsorship and Agent Models","s":["License Sponsorship","Licensing Strategy"],"p":["Americas","Developed Markets"],"d":"2019-09-01","x":"Yes, of course, there is a workaround. It is akin to leasing a car. Imagine if you will that you would be launching a…"},{"t":"Do international fintech startups need US money transmitter licenses?","u":"do-international-fintech-startups-need-us-money-transmitter-licenses","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["United States"],"d":"2019-09-01","x":"The answer is it depends. Are you going to be doing business in the US? If you plan on signing up US customers then you…"},{"t":"Can multiple country bank accounts be linked to a single Payoneer account?","u":"can-multiple-country-bank-accounts-be-linked-to-a-single-payoneer-account","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Payoneer","Online Payment Platforms"],"p":["Pakistan","Turkey"],"d":"2019-08-09","x":"At present Payoneer’s system does not allow that, or rather I should say, it is not geared for it. I happen to have the…"},{"t":"Can you deposit cryptocurrency directly into PayPal?","u":"can-you-deposit-cryptocurrency-directly-into-paypal","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":[],"d":"2019-08-08","x":"Possible? Yes. Can you do it today? No, Not yet. PayPal would most likely offer something like this later on, consider’s…"},{"t":"How much more or less expensive is international money transfer using Bitcoin compared to traditional banking?","u":"how-much-more-or-less-expensive-is-international-money-transfer-using-bitcoin-compared-to-traditiona","c":"Sending and Receiving Money Abroad","s":["Money Transfer","All-In Cost of Transfers"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2019-08-08","x":"In many cases, just marginally better. Lets say a traditional remittance transfer is 3% between US and Philippines, so…"},{"t":"What did the United States attempt to buy for $100 million in 1946?","u":"what-did-the-united-states-attempt-to-buy-for-100-million-in-1946","c":"History of Money, Banking and Finance","s":["Economic History","Financial History"],"p":["Americas","Greenland"],"d":"2019-08-05","x":"In 1946 - long after Seward\u0026#39;s time - the United States seems to have made a formal offer of $100 million for Greenland ,…"},{"t":"Which countries allow online bank account opening for non-citizens?","u":"which-countries-allow-online-bank-account-opening-for-non-citizens","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Grenada","Offshore Financial Centers"],"d":"2019-08-05","x":"Almost all offshore banking (read: tax havens) will open an account without you ever visiting. Think the Bahamas,…"},{"t":"What happens if I accidentally used a wire routing number for an ACH deposit transaction?","u":"what-happens-if-i-accidentally-used-a-wire-routing-number-for-an-ach-deposit-transaction","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Routing Numbers"],"p":[],"d":"2019-08-04","x":"Unless both the numbers are the same, the transaction will not go through and will be reversed and usually takes 4–6…"},{"t":"How does Payoneer legally provide bank accounts to non-UK residents?","u":"how-does-payoneer-legally-provide-bank-accounts-to-non-uk-residents","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["Electronic Money Institutions (EMI)","E-Money"],"p":["Developed Markets","EMEA"],"d":"2019-08-03","x":"It doesn’t create a real bank account for you. Payoneer is an E-Money License holder in the UK, which means, they are…"},{"t":"Is there a system that ensures global bank transfers net to zero?","u":"is-there-a-system-that-ensures-global-bank-transfers-net-to-zero","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Clearing Banks"],"p":[],"d":"2019-08-03","x":"There isn’t an institution per se, there are many, depending on how the payments are being cleared. BIS (Bank of…"},{"t":"Why do many automated bank transfers only process overnight?","u":"why-do-many-automated-bank-transfers-only-process-overnight","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Batch Payments","Payment Infrastructure"],"p":[],"d":"2019-08-01","x":"Much of the banking world is batch-process, which means, transactions and payments are bulked up and then batch…"},{"t":"How do remittances benefit national economies?","u":"how-do-remittances-benefit-national-economies","c":"Economics, Inflation and Monetary Policy","s":["Macroeconomics","Economic Trends"],"p":["British Pound Sterling","Philippines"],"d":"2019-08-01","x":"Well, for starters, it affects the local buying/spending economy. When this money (let’s say GBP), exists the UK and…"},{"t":"Does a startup need a money transmitter license to offer a closed-loop gift card system for SMBs?","u":"does-a-startup-need-a-money-transmitter-license-to-offer-a-closed-loop-gift-card-system-for-smbs","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":["Turkey"],"d":"2019-08-01","x":"This depends on your definition of a closed loop and the regulator’s definition of a closed loop. In most cases, a…"},{"t":"How can Remitly send money to a customer’s bank account in India within minutes?","u":"how-can-remitly-send-money-to-a-customers-bank-account-in-india-within-minutes","c":"Payment Corridors and Remittance Economics","s":["Prefunding","Remittance Economics"],"p":["Asia","India"],"d":"2019-07-09","x":"The is achieved by what is called a ‘pre-funded’ account. Let’s take an example. Money needs to be transferred (using…"},{"t":"Does a money transmitter need to notify state regulators when forming an agreement with another transmitter, or can MTOs enter/exit partnerships freely?","u":"does-a-money-transmitter-need-to-notify-state-regulators-when-forming-an-agreement-with-another-tran","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Transmitter Licenses (MTL)"],"p":[],"d":"2019-07-08","x":"No notification is necessary. During a state audit, the auditor can ask you to show the correspondent tie-up agreement.…"},{"t":"What impact do small and mid-sized money transmitters have on the global remittance market—are they insignificant, and what data exists on their combined share?","u":"what-impact-do-small-and-mid-sized-money-transmitters-have-on-the-global-remittance-marketare-they-i","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","MTO Economics"],"p":[],"d":"2019-07-08","x":"They are very much relevant, albeit now facing various hurdles. As Katie Koroleva cites, the number varies. I’ve seen it…"},{"t":"How much US currency physically exists, and what percentage of US money is only digital (bank ledger entries)?","u":"how-much-us-currency-physically-exists-and-what-percentage-of-us-money-is-only-digital-bank-ledger-e","c":"Economics, Inflation and Monetary Policy","s":["Currency","Money Supply"],"p":["United States","United States Dollar"],"d":"2019-07-06","x":"The total number of Coins and Currency Notes, etc. are as follows: Source: The Fed - Data There was approximately $1.63…"},{"t":"Can you view all money transfers made through a specific Western Union account over multiple years?","u":"can-you-view-all-money-transfers-made-through-a-specific-western-union-account-over-multiple-years","c":"Money Transfer Business and MTOs","s":["Western Union","Money Transfer Operators (MTO)"],"p":[],"d":"2019-07-04","x":"Western Union for legal purposes is required to keep records of all transactions for a minimum of 7 years. In some cases…"},{"t":"How feasible is it to get a money transmitter license in California for a storefront crypto-to-cash business?","u":"how-feasible-is-it-to-get-a-money-transmitter-license-in-california-for-a-storefront-crypto-to-cash","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","State Crypto Licensing"],"p":["California"],"d":"2019-07-04","x":"You certainly have not only chosen a difficult state to get a license in, but also a difficult combination. To obtain a…"},{"t":"What gives money its value if it’s no longer backed by gold?","u":"what-gives-money-its-value-if-its-no-longer-backed-by-gold","c":"Economics, Inflation and Monetary Policy","s":["Fiat Currency","Currency"],"p":[],"d":"2019-06-10","x":"You and I. This includes the government, and a little bit of faith. A “value” in the fiat world (IMHO) is an abstract…"},{"t":"Will Ripple dominate global cross-border payments?","u":"will-ripple-dominate-global-cross-border-payments","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":["China","India"],"d":"2019-06-10","x":"Hard to say. At the time of writing this answer, Ripple (payment network) has about 100 or so banks signed up. Pretty…"},{"t":"Is there a network or consortium for small licensed money transmitters in the US?","u":"is-there-a-network-or-consortium-for-small-licensed-money-transmitters-in-the-us","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":["Americas","Developed Markets"],"d":"2019-06-09","x":"Not really. There was an effort by David Landman to create the NMTA, but that has now been morphed into MSBA (Money…"},{"t":"Why is Payoneer withdrawal to Pakistani local banks labeled “ATM Transfer” instead of “Home Remittance” (tax-free), and how can I prove it in my tax return?","u":"why-is-payoneer-withdrawal-to-pakistani-local-banks-labeled-atm-transfer-instead-of-home-remittance","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Payoneer","Getting Paid from Abroad"],"p":["Asia","Global South"],"d":"2019-06-09","x":"Please write a letter to your bank, requesting a Proceeds Realisation Certificate (PRC) for the transaction mentioned.…"},{"t":"Can non-residents open US bank accounts?","u":"can-non-residents-open-us-bank-accounts","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Puerto Rico","United States"],"d":"2019-06-08","x":"The answer is, it depends. Typically you would be able to open a company bank account, where at least one representative…"},{"t":"Is it possible to build a PayPal-like online payment system in Thailand?","u":"is-it-possible-to-build-a-paypal-like-online-payment-system-in-thailand","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2019-06-06","x":"Possible? Yes. Worth your while? Questionable! Building a payment system is no rocket science in many cases. Put people…"},{"t":"What are the odds Bitfinex is not AML/KYC compliant for a significant share of its transactions?","u":"what-are-the-odds-bitfinex-is-not-amlkyc-compliant-for-a-significant-share-of-its-transactions","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Program"],"p":[],"d":"2019-06-02","x":"Medium to high probability. But chances are the company is fixing that. Plugging the holes, fixing the short-comings,…"},{"t":"Are certificates of deposit still a good investment choice?","u":"are-certificates-of-deposit-still-a-good-investment-choice","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Personal Investing","Financial Literacy"],"p":[],"d":"2019-05-10","x":"Depends, but generally speaking, the answer is No . It has been no in 1973, a no in 1984, a no in 1999, a no in 2013 and…"},{"t":"Does PayPal provide routing numbers similar to bank accounts?","u":"does-paypal-provide-routing-numbers-similar-to-bank-accounts","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Stored Value"],"p":[],"d":"2019-05-10","x":"No. At the moment, PayPal operates as a Wallet. You load money into/out of the wallet using your bank account, but…"},{"t":"What are the key differences between ACH payments and CHIPS transfers?","u":"what-are-the-key-differences-between-ach-payments-and-chips-transfers","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Clearing","Payment Infrastructure"],"p":["United States"],"d":"2019-05-06","x":"CHIPS is basically RTGS (Real-Time Gross Settlement) System for large value, low-volume, instant clearing, whilst ACH is…"},{"t":"What services are typically offered under private client banking?","u":"what-services-are-typically-offered-under-private-client-banking","c":"Wealth Management, Private Banking and Family Offices","s":["Wealth Management"],"p":[],"d":"2019-05-05","x":"It offers slightly bespoke banking and investment products that are otherwise not available to the general banking…"},{"t":"Why does the Pakistani rupee lose value when USD reserves fall, compared with reserve declines in other currencies?","u":"why-does-the-pakistani-rupee-lose-value-when-usd-reserves-fall-compared-with-reserve-declines-in-oth","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Exchange Rates"],"p":["Indian Subcontinent","Pakistan"],"d":"2019-05-02","x":"Most of the trade is US Dollar denominated and so are our payment (debt) obligations. The liquidity of the US Dollar has…"},{"t":"What is the most misunderstood aspect of cryptocurrency?","u":"what-is-the-most-misunderstood-aspect-of-cryptocurrency","c":"Bitcoin and Cryptocurrency Basics","s":["Cryptocurrency Basics","Crypto Terminology"],"p":["Bitcoin"],"d":"2019-05-01","x":"Two things… First, if I can use the analogy of the big bang, we are in the inflationary stages of cryptocurrencies, some…"},{"t":"Why did remittances to low- and middle-income countries peak in 2018?","u":"why-did-remittances-to-low-and-middle-income-countries-peak-in-2018","c":"Payment Corridors and Remittance Economics","s":["Remittance Economics","Remittance Data"],"p":["United States Dollar"],"d":"2019-04-12","x":"All empirical evidence suggests that the US Dollar got stronger against other currencies and hence people sent more. One…"},{"t":"Is TransferWise generally better than other remittance services?","u":"is-transferwise-generally-better-than-other-remittance-services","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2019-04-10","x":"Sure. TransferWise is not the only provider in town for great transfers. If that were the case, everybody else would had…"},{"t":"Could money be “wiped out” the way an ant society functions without money?","u":"could-money-be-wiped-out-the-way-an-ant-society-functions-without-money","c":"General Finance Questions","s":["General Finance Questions","General"],"p":[],"d":"2019-04-06","x":"Can it? Yes, it is a human construct. Will it? Eventually, yes! If you look at some of the futurologists like Gene…"},{"t":"Why don’t banks process transactions on Sundays?","u":"why-dont-banks-process-transactions-on-sundays","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Legacy Payment Systems"],"p":[],"d":"2019-04-06","x":"Historically, Sunday has been a day of rest. A holiday in most of the Christian countries around the world. Banking was…"},{"t":"What qualifications are essential for an anti–money laundering (AML) officer?","u":"what-qualifications-are-essential-for-an-antimoney-laundering-aml-officer","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","Compliance Officers"],"p":[],"d":"2019-04-06","x":"The prerequisites to becoming an AML Officer are pretty standard. Most AML course work or Job Descriptions cover it…"},{"t":"Where does the money used for transfer payments actually come from?","u":"where-does-the-money-used-for-transfer-payments-actually-come-from","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Settlement Models","Money Plumbing (How Money Moves)"],"p":[],"d":"2019-04-06","x":"Depends: It is either pre-funded, i.e. arrangements are made to have enough money on the other side, so that when a…"},{"t":"How did banks transfer money bank-to-bank before telex or SWIFT existed?","u":"how-did-banks-transfer-money-bank-to-bank-before-telex-or-swift-existed","c":"History of Money, Banking and Finance","s":["History of Banking","History of Payment Systems"],"p":[],"d":"2019-04-06","x":"Wire transfers (which meant Morse-code type transfers over the wire) and these go quite a ways back. Before that? Good…"},{"t":"Is it possible to identify which banks do business with gun manufacturers/dealers (for boycott purposes)?","u":"is-it-possible-to-identify-which-banks-do-business-with-gun-manufacturersdealers-for-boycott-purpose","c":"Sustainable, Ethical and ESG Finance","s":["Ethical Finance","ESG in Finance"],"p":["United States"],"d":"2019-04-02","x":"If the gun manufacturers are publicly listed companies, their banks would be identified in their quarterly or annual…"},{"t":"How can I start a cryptocurrency exchange if banks won’t open accounts tied to Bitcoin?","u":"how-can-i-start-a-cryptocurrency-exchange-if-banks-wont-open-accounts-tied-to-bitcoin","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Crypto Banking Relationships","Banking Access"],"p":["Bitcoin"],"d":"2019-04-02","x":"Most banks today will not touch you if you have anything to do with Bitcoin/crypto. The FUD (Fear, Uncertainty, Doubt)…"},{"t":"What is the most important lesson you’ve personally learned about money?","u":"what-is-the-most-important-lesson-youve-personally-learned-about-money","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Derivatives","Securities"],"p":[],"d":"2019-03-12","x":"That there are TWO kinds of money, one that… Creates Jobs, improves the GDP, increases manufacturing, or provides a…"},{"t":"Why can companies like Coinbase handle both fiat and crypto while others struggle?","u":"why-can-companies-like-coinbase-handle-both-fiat-and-crypto-while-others-struggle","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Fiat On-Ramps","Crypto-to-Fiat Conversion"],"p":[],"d":"2019-03-12","x":"It is not that difficult if you know whom to contact and what it entails. Getting access to the fiat rails (on/off ramp)…"},{"t":"What factors cause foreign remittances to rise or fall?","u":"what-factors-cause-foreign-remittances-to-rise-or-fall","c":"Payment Corridors and Remittance Economics","s":["Remittance Economics","Remittance Data"],"p":[],"d":"2019-03-12","x":"There can be a number of factors, there is no definitive list, but here are some points worthy of consideration:…"},{"t":"If I want a regulated money supply, don’t speculate, and don’t care about anonymity, why would I still choose Bitcoin?","u":"if-i-want-a-regulated-money-supply-dont-speculate-and-dont-care-about-anonymity-why-would-i-still-ch","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2019-03-08","x":"tl;dr Unshackled movement of money! Let me cite an analogy that would help you understand better. If email was regulated…"},{"t":"Why are money transfer operators still popular in the Philippines even though PayMaya and GCash can be cheaper?","u":"why-are-money-transfer-operators-still-popular-in-the-philippines-even-though-paymaya-and-gcash-can","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Legacy MTOs"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2019-03-08","x":"Michael Ranola aptly sums it up. It is a behavioral issue more than a technology issue. There is an ingrained belief of…"},{"t":"Which remittance corridors rely heavily on hawala networks?","u":"which-remittance-corridors-rely-heavily-on-hawala-networks","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Hawala","Informal Remittance Channels"],"p":[],"d":"2019-03-08","x":"In all the developed-to-developing countries route. So all your Top 25–30 countries that receive remittances, also have…"},{"t":"Can international bank transfers be guaranteed at the time of execution?","u":"can-international-bank-transfers-be-guaranteed-at-the-time-of-execution","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Wire Transfer Delays and Tracing"],"p":[],"d":"2019-03-05","x":"In most cases, the answer is no. International wire transfers are subject to manual review, and the very minute you…"},{"t":"Could Venmo realistically replace Western Union?","u":"could-venmo-realistically-replace-western-union","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Western Union"],"p":[],"d":"2019-03-05","x":"Most likely not. Venmo is US concentric, whilst Western Union is available pretty much all around the globe. The problem…"},{"t":"What legal position do individuals have when operating like MoneyGram or Western Union?","u":"what-legal-position-do-individuals-have-when-operating-like-moneygram-or-western-union","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Starting a Remittance Business"],"p":[],"d":"2019-03-05","x":"Depending on where in the world you may be, you would most likely be classified as a money transfer operator or money…"},{"t":"Who are market makers on Ripple, and are they considered money transmitters requiring licenses?","u":"who-are-market-makers-on-ripple-and-are-they-considered-money-transmitters-requiring-licenses","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["United States"],"d":"2019-03-01","x":"This is a tough one. If I am a market marker, I am bringing in trade for the XRP on some currency pair. Because I own…"},{"t":"Why do countries hold foreign exchange reserves?","u":"why-do-countries-hold-foreign-exchange-reserves","c":"Geopolitics of Money and the International Monetary System","s":["Foreign Exchange Reserves","Monetary Systems"],"p":["United Kingdom","United States Dollar"],"d":"2019-03-01","x":"Trade! If you wish to trade with the world and have nothing to offer in return that I want, then I want to get paid in…"},{"t":"Why isn’t an escrow model like LocalBitcoins typically treated as a money transmitter/MSB in many US states?","u":"why-isnt-an-escrow-model-like-localbitcoins-typically-treated-as-a-money-transmittermsb-in-many-us-s","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Transmitter Licenses (MTL)"],"p":["Americas","Developed Markets"],"d":"2019-03-01","x":"It is considered a money transmitter in most US states, and outside the US depends on which country you’re talking…"},{"t":"Are MoneyGram and Western Union owned by the same parent company?","u":"are-moneygram-and-western-union-owned-by-the-same-parent-company","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Western Union"],"p":[],"d":"2019-02-12","x":"No. Both Western Union and MoneyGram are two independent companies. They do not have a single controlling company on top…"},{"t":"Will the Pakistani rupee strengthen against the USD under the government led by Imran Khan?","u":"will-the-pakistani-rupee-strengthen-against-the-usd-under-the-government-led-by-imran-khan","c":"FX Rates, Spreads and Currency Markets","s":["Exchange Rates","Foreign Exchange (FX)"],"p":["Pakistan","Pakistani Rupee"],"d":"2019-02-08","x":"Not immediately. The fundamentals and country’s financial numbers are not too sound. Even with the new government, it…"},{"t":"Can I be arrested in GCC countries or my home country if I have an unpaid UAE credit card debt of AED 5,000?","u":"can-i-be-arrested-in-gcc-countries-or-my-home-country-if-i-have-an-unpaid-uae-credit-card-debt-of-ae","c":"Lending, Credit Scores and BNPL","s":["Consumer Credit","Debt Recovery"],"p":["GCC","Gulf Cooperation Council"],"d":"2019-02-08","x":"In your home country (say outside the GCC), most likely not. In GCC and UAE in particular, possibly yes, if the…"},{"t":"How much cash can I legally carry on an international flight (e.g., Karachi → Bangkok or Karachi → Dubai)?","u":"how-much-cash-can-i-legally-carry-on-an-international-flight-eg-karachi-bangkok-or-karachi-dubai","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Currency Controls","Capital Controls"],"p":["Asia","Pakistan"],"d":"2019-02-05","x":"US $ 60,000 per annum. Currency over US $ 10,000 has to be declared. Pakistan Rupee limit Rs. 10,000 (yes that is…"},{"t":"Is Ripple classified as a money transmitter under FinCEN regulations?","u":"is-ripple-classified-as-a-money-transmitter-under-fincen-regulations","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","MSB Registration (US)"],"p":["United States"],"d":"2019-02-02","x":"In 2015, FinCEN fined Ripple for acting as a money transmitter and also violating various sections of the BSA (Bank…"},{"t":"Why do correspondent payout partners have to maintain reserves with the principal license holder—but not the other way around?","u":"why-do-correspondent-payout-partners-have-to-maintain-reserves-with-the-principal-license-holderbut","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Principal License Holders","Principal and Agent Models"],"p":[],"d":"2019-02-01","x":"Its the other way around. Usually, the license holder is required to pre-fund an account with the correspondent payout…"},{"t":"Where and how are exchange rates determined?","u":"where-and-how-are-exchange-rates-determined","c":"FX Rates, Spreads and Currency Markets","s":["Exchange Rates","Currency Exchange"],"p":[],"d":"2019-02-01","x":"Typically on what the last trade was. It all depends what I am willing to pay out (or what I think the currency pair is…"},{"t":"What’s the simplest way to convert cryptocurrencies (Bitcoin/altcoins) to fiat and withdraw to a bank account?","u":"whats-the-simplest-way-to-convert-cryptocurrencies-bitcoinaltcoins-to-fiat-and-withdraw-to-a-bank-ac","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto-to-Fiat Conversion","Fiat Off-Ramps"],"p":["Bitcoin"],"d":"2019-02-01","x":"This answer will needless to say vary in which country you reside and in which country you wish to cash out. From a…"},{"t":"How much money volume is transacted globally in a single day across all categories (consumer, business, forex, etc.)?","u":"how-much-money-volume-is-transacted-globally-in-a-single-day-across-all-categories-consumer-business","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2019-02-01","x":"Extremely difficult to gauge. Are we talking documented economy? undocumented? both? If you look at the world GDP, that…"},{"t":"Why are US banks closed during hours when it’s most convenient for many customers (evenings/weekends), and how does that make business sense?","u":"why-are-us-banks-closed-during-hours-when-its-most-convenient-for-many-customers-eveningsweekends-an","c":"How Banks Work","s":["Banks","Retail Banking"],"p":["Americas","Developed Markets"],"d":"2019-02-01","x":"Many banks have done studies on this, not just US Banks. Whilst there is certainly a demand in the evenings and…"},{"t":"Is it fair for TransferWise to take up to 90 business days to refund rejected transfers?","u":"is-it-fair-for-transferwise-to-take-up-to-90-business-days-to-refund-rejected-transfers","c":"Consumer Protection, Customer Rights and Customer Service","s":["Refunds and Reversals","Consumer Protection"],"p":[],"d":"2019-01-12","x":"Not fair, but perhaps a little bit of context will help. In typical cases, let’s say if you were originating this…"},{"t":"Can individuals send money directly to my Payoneer account?","u":"can-individuals-send-money-directly-to-my-payoneer-account","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Payoneer","Online Payment Platforms"],"p":[],"d":"2019-01-12","x":"You can receive money from another Payoneer account holder, that would be an individual. That is the only known way at…"},{"t":"Where does PayPal actually hold and deposit users’ funds?","u":"where-does-paypal-actually-hold-and-deposit-users-funds","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Fintech Banking Relationships","Client Money Accounts"],"p":[],"d":"2019-01-11","x":"As Paypal itself is not a bank, it uses various commercial banks as the licensed custodians for holding its customers\u0026#39;…"},{"t":"Is gold necessary for a country to issue paper currency?","u":"is-gold-necessary-for-a-country-to-issue-paper-currency","c":"Economics, Inflation and Monetary Policy","s":["Currency","Fiat Currency"],"p":[],"d":"2019-01-11","x":"No. Used to be, not so important anymore. Today’s fiat currencies are not backed by gold reserves. In fact, the only…"},{"t":"What payment gateway options exist besides PayPal for receiving funds from the US into Pakistan?","u":"what-payment-gateway-options-exist-besides-paypal-for-receiving-funds-from-the-us-into-pakistan","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Getting Paid from Abroad","Online Payment Platforms"],"p":["Asia","North America"],"d":"2019-01-11","x":"Xoom works in Pakistan, but the sender has to set up an account on Xoom and use it. If the payment is originating from a…"},{"t":"How is TransferWise able to process international transfers so quickly?","u":"how-is-transferwise-able-to-process-international-transfers-so-quickly","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":["British Pound Sterling","Philippine Peso"],"d":"2019-01-09","x":"This is usually achieved by something called Pre-funding . It is a concept by which the Sending company, pre-funds…"},{"t":"Why are cryptocurrencies still largely unregulated?","u":"why-are-cryptocurrencies-still-largely-unregulated","c":"Crypto and VASP Licensing","s":["Crypto Regulation"],"p":["Asia","Bangladesh"],"d":"2019-01-09","x":"It depends which geographic area you are talking about and which cryptocurrency in general. In some countries, they have…"},{"t":"Besides cash and precious metals like gold, what other forms of payment would you personally accept?","u":"besides-cash-and-precious-metals-like-gold-what-other-forms-of-payment-would-you-personally-accept","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":[],"d":"2019-01-08","x":"There are plenty of options: Bearer Bonds Metals (like Steel) Stocks Commodity Contracts Crypto-Currency Prepaid Debit…"},{"t":"What do you think about an Uber-style remittance model where senders in opposite directions match and exchange locally, with default risk insured via blockchain-based collateral?","u":"what-do-you-think-about-an-uber-style-remittance-model-where-senders-in-opposite-directions-match-an","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":[],"d":"2019-01-08","x":"What you are describing is some I wrote a paper on way back, called the Uberization of Money Transfer . (Read here: The…"},{"t":"What is the average monthly revenue a typical independent sales organization (ISO) is expected to generate for a small-to-mid principal license holder, and what commission structures are common?","u":"what-is-the-average-monthly-revenue-a-typical-independent-sales-organization-iso-is-expected-to-gene","c":"Merchant Accounts, Processors and Gateways","s":["Independent Sales Organizations (ISO)","Merchant Accounts"],"p":[],"d":"2019-01-08","x":"This depends on the corridor and the margins on the corridor. Typically, a PLH (Principal License Holder) will be raking…"},{"t":"Why do banks and money transfer businesses portray cash as “bad” or undesirable?","u":"why-do-banks-and-money-transfer-businesses-portray-cash-as-bad-or-undesirable","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":[],"d":"2019-01-05","x":"A lot many of my colleagues are presenting the argument that Cash is Evil. Cash is Dead. Cash is a Menace to Society. I…"},{"t":"What is the difference between a traditional wire transfer and an email-based e-transfer?","u":"what-is-the-difference-between-a-traditional-wire-transfer-and-an-email-based-e-transfer","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Wire Transfers","Payment Infrastructure"],"p":[],"d":"2019-01-02","x":"In this day an age, pretty much the same thing. Just legacy nomenclature still being used. Almost all forms of transfers…"},{"t":"How can I buy cryptocurrency in Pakistan?","u":"how-can-i-buy-cryptocurrency-in-pakistan","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Asia","Bitcoin"],"d":"2019-01-01","x":"There are many ways to invest, most of them require patience in getting approved. The first and foremost is that the…"},{"t":"Can a PayPal account be linked to a Pakistani national bank account?","u":"can-a-paypal-account-be-linked-to-a-pakistani-national-bank-account","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":["Pakistan","Restricted Jurisdictions"],"d":"2018-12-12","x":"Nope. As of today, PayPal is not supported in Pakistan (traditional PayPal that is) and none of Pakistan banks are…"},{"t":"Does a wire transfer recipient see the sender’s bank account details?","u":"does-a-wire-transfer-recipient-see-the-senders-bank-account-details","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Wire Transfers","Payment Infrastructure"],"p":[],"d":"2018-12-12","x":"Depends on the wire transfer (payment) system in question. However, in most cases, the answer is not necessarily. A…"},{"t":"Why hasn’t PayPal launched another major breakthrough product in recent years?","u":"why-hasnt-paypal-launched-another-major-breakthrough-product-in-recent-years","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Business Insights"],"p":[],"d":"2018-12-12","x":"PayPal started as a payment concept and has now evolved to a payments ecosystem. It has created virtually one of the…"},{"t":"Is Bitcoin protected by FDIC insurance?","u":"is-bitcoin-protected-by-fdic-insurance","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin","United States"],"d":"2018-12-11","x":"No. It is not. The Federal Deposit Insurance Corporation (FDIC) covers deposit insurance as held in the bank up to US$…"},{"t":"Why is building a Plaid-like startup harder in the UK or Europe despite open banking APIs?","u":"why-is-building-a-plaid-like-startup-harder-in-the-uk-or-europe-despite-open-banking-apis","c":"Open Banking and Account Aggregation","s":["Open Banking","Open Banking APIs"],"p":["Developed Markets","EMEA"],"d":"2018-12-11","x":"Not tricky at all. The thing that worked out very well for Plaid in US was that the top say 25 Banks controlled more…"},{"t":"How do startup founders handle compliance risks when they are not compliance experts?","u":"how-do-startup-founders-handle-compliance-risks-when-they-are-not-compliance-experts","c":"AML Programs, KYC and Compliance Operations","s":["Compliance Outsourcing","Compliance Officers"],"p":[],"d":"2018-12-11","x":"Let us assume you are asking this question in regards to compliance in the financial services industry. The answer is…"},{"t":"Can I verify a second PayPal account using the same Payoneer US bank details as my first account?","u":"can-i-verify-a-second-paypal-account-using-the-same-payoneer-us-bank-details-as-my-first-account","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Payoneer"],"p":["United States"],"d":"2018-12-09","x":"At present, PayPal is not recognizing virtual accounts that Payoneer offers. As they are more or less pseudo bank…"},{"t":"What would be the process for imposing a tax on remittances sent from the United States?","u":"what-would-be-the-process-for-imposing-a-tax-on-remittances-sent-from-the-united-states","c":"Tax and Financial Reporting","s":["Tax on Remittances","Tax"],"p":["Oklahoma","United States"],"d":"2018-12-08","x":"You would have to tax it on a state-wide level. It is already in effect in one state: Oklahoma. The remittance tax in OK…"},{"t":"If an app only connects people to hawaladars but never touches funds, does it need FCA or HMRC registration in the UK?","u":"if-an-app-only-connects-people-to-hawaladars-but-never-touches-funds-does-it-need-fca-or-hmrc-regist","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["UK Licensing","Payment Institutions (PI)"],"p":["Developed Markets","EMEA"],"d":"2018-12-08","x":"Frank answers the question dead-on! I would only add the following: If you include a fee for registration and/or take a…"},{"t":"Can someone identify my bank account details using only my SWIFT code?","u":"can-someone-identify-my-bank-account-details-using-only-my-swift-code","c":"International Wire Transfers and Large Transfers","s":["SWIFT Transfers","International Wire Transfers"],"p":[],"d":"2018-12-08","x":"Just by the SWIFT Code itself, no. Think of the SWIFT code as the ZIP Code or Postal Code. It will indicate generally…"},{"t":"Is there a global authority that oversees and regulates international wire transfers?","u":"is-there-a-global-authority-that-oversees-and-regulates-international-wire-transfers","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":[],"d":"2018-12-06","x":"Not in the authoritative sense, no. There is Bank for International Settlements , in Basel, Switzerland, that is termed…"},{"t":"How long does a domestic wire from Union Bank (a US community bank) typically take to show up in a Chase account?","u":"how-long-does-a-domestic-wire-from-union-bank-a-us-community-bank-typically-take-to-show-up-in-a-cha","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Wire Transfers","Account-to-Account Payments"],"p":["United States"],"d":"2018-12-05","x":"If it is a FedWire, same day or the next business at the very latest. This is assuming all instructions are correct,…"},{"t":"Why do we still use expensive payment processors like PayPal and Western Union when cheaper alternatives exist?","u":"why-do-we-still-use-expensive-payment-processors-like-paypal-and-western-union-when-cheaper-alternat","c":"Sending and Receiving Money Abroad","s":["Money Transfer","PayPal"],"p":[],"d":"2018-12-05","x":"Brand Recognition: Which implies Trust and Network Outreach. Both Western Union and PayPal are large brands. Their brand…"},{"t":"Is there any equivalent of a Social Security Number for people in Pakistan?","u":"is-there-any-equivalent-of-a-social-security-number-for-people-in-pakistan","c":"Cybersecurity, Digital Identity and Authentication","s":["Digital Identity","Authentication"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2018-12-05","x":"The Computerized National Identity Card or CNIC as issued by NADRA (National Database Registration Authority) is the…"},{"t":"Can I pick up a MoneyGram transfer that was sent to me via Western Union?","u":"can-i-pick-up-a-moneygram-transfer-that-was-sent-to-me-via-western-union","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Receiving Money from Abroad (Consumer)"],"p":["Spain"],"d":"2018-12-03","x":"No, you cannot. Western Union and MoneyGram are two separate payment systems. They are not interoperable in the sense…"},{"t":"Is it standard practice to pay remittance charges upfront?","u":"is-it-standard-practice-to-pay-remittance-charges-upfront","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2018-12-03","x":"It depends on what the model is being followed by the remittance transfer company. In some cases, you might pay…"},{"t":"If Ripple is a first mover in bank-based international transfers, how can competitors survive?","u":"if-ripple-is-a-first-mover-in-bank-based-international-transfers-how-can-competitors-survive","c":"Business Strategy, Case Studies and Lessons Learned","s":["Competitive Analysis","Industry Strategy"],"p":["Brazil","China"],"d":"2018-11-07","x":"My personal opinion is that, despite having a first mover advantage, no one company will dominate real-time worldwide…"},{"t":"How do traditional banks respond to the rise of challenger banks?","u":"how-do-traditional-banks-respond-to-the-rise-of-challenger-banks","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Industry Insights"],"p":[],"d":"2018-11-06","x":"They basically have four avenues of approach with respect to the rise of challenger banks. Buy them out. Most challenger…"},{"t":"If TransferWise/Wise can send money to Indonesia but can’t send money from Indonesia, why is that—doesn’t sending money there imply they already have local banking rails?","u":"if-transferwisewise-can-send-money-to-indonesia-but-cant-send-money-from-indonesia-why-is-thatdoesnt","c":"Licensing in Other Countries","s":["Licensing Comparison by Country"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2018-11-05","x":"I can think of three possible situations: Many countries have regulations on inbound and outbound transfers. In certain…"},{"t":"What factors make remittance systems complicated?","u":"what-factors-make-remittance-systems-complicated","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Starting a Remittance Business"],"p":[],"d":"2018-11-04","x":"Many things complicate the system of remittances. Here is my brief overview of it the major issues: COMPLIANCE One…"},{"t":"Can you receive a Western Union transfer without the tracking number?","u":"can-you-receive-a-western-union-transfer-without-the-tracking-number","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Receiving Money from Abroad (Consumer)"],"p":[],"d":"2018-11-04","x":"Two scenarios: You’ve misplaced or forgotten the tracking number, in which case, the tracking number can be provided to…"},{"t":"What are the best blockchain guides or books for product managers, and which blogs/articles do you recommend?","u":"what-are-the-best-blockchain-guides-or-books-for-product-managers-and-which-blogsarticles-do-you-rec","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Learning Resources","Guides"],"p":[],"d":"2018-10-07","x":"To be honest, whatever comes out, gets outdated quite quickly, due to the rapidly changing nature of this new…"},{"t":"Which cryptocurrency is the best alternative to Bitcoin?","u":"which-cryptocurrency-is-the-best-alternative-to-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2018-10-01","x":"Probably Ethereum. It is the one that is perhaps most used. Plenty of smart contracts on it. Almost every ICO conducted…"},{"t":"Are international banks as strict as US banks when it comes to compliance and onboarding?","u":"are-international-banks-as-strict-as-us-banks-when-it-comes-to-compliance-and-onboarding","c":"AML Programs, KYC and Compliance Operations","s":["Due Diligence","Know Your Customer (KYC)"],"p":["Caribbean","Developed Markets"],"d":"2018-09-08","x":"If it involves US Dollar clearing, then the answer is yes. They are quite strict and if your bank that does US Dollar…"},{"t":"How do I start a money remittance agency in the UK?","u":"how-do-i-start-a-money-remittance-agency-in-the-uk","c":"Money Transfer Business and MTOs","s":["Starting a Remittance Business","Remittance Agents"],"p":["Developed Markets","EMEA"],"d":"2018-09-05","x":"You can do that by going to FCA’s website and then applying for a Small Payment Institution (SPI) License. The SPI…"},{"t":"Is Apple Pay considered a successful mobile payments app?","u":"is-apple-pay-considered-a-successful-mobile-payments-app","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Digital Wallets"],"p":["Africa","Emerging Markets"],"d":"2018-09-05","x":"Successful how? If you look at the worldwide scale, not by far. If you look at the US, again, the same answer. Apple…"},{"t":"Why do people collectively have such strong faith in fiat currency?","u":"why-do-people-collectively-have-such-strong-faith-in-fiat-currency","c":"Economics, Inflation and Monetary Policy","s":["Currency","Fiat Currency"],"p":[],"d":"2018-09-05","x":"We’ve been taught this way. The majority of the world that is. If I had to fathom a guess, I would say 99.9% of the…"},{"t":"If the petrodollar loses reserve currency status, what’s most likely to replace it (other than cryptocurrency)?","u":"if-the-petrodollar-loses-reserve-currency-status-whats-most-likely-to-replace-it-other-than-cryptocu","c":"Geopolitics of Money and the International Monetary System","s":["Reserve Currencies","Monetary Systems"],"p":["Special Drawing Rights","United States Dollar"],"d":"2018-09-05","x":"There are many ways it could go. Whilst, conventional wisdom would say, the runner-up might take the crown, that might…"},{"t":"What is “float” in a banking system?","u":"what-is-float-in-a-banking-system","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2018-08-12","x":"Float is the money in a bank that has usually been credited to the bank, but not the customer. Let’s assume a bank as an…"},{"t":"When a new currency is created, how does it move from the central bank into circulation among people?","u":"when-a-new-currency-is-created-how-does-it-move-from-the-central-bank-into-circulation-among-people","c":"Central Banks and Bank Supervision","s":["Central Banks","Banking Economics"],"p":["India"],"d":"2018-08-12","x":"When a central bank creates new currency, it is sold off to the commercial (high-street) banks, a process known as…"},{"t":"Why do many places in Portugal reject “international credit cards”?","u":"why-do-many-places-in-portugal-reject-international-credit-cards","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Point of Sale (POS)"],"p":["EMEA","Europe"],"d":"2018-08-12","x":"I’ve experienced this in many countries, including Portugal, it seems the universal answers are: Taxes: Just by saying…"},{"t":"Could an app that enables users to exchange currencies with each other (so they become their own “money transmitters”) be disruptive for international remittances?","u":"could-an-app-that-enables-users-to-exchange-currencies-with-each-other-so-they-become-their-own-mone","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":[],"d":"2018-08-10","x":"There are various ways of looking at it, rather than just the money transmission angle. State regulators or federal…"},{"t":"What do you think of a peer-to-peer FX platform where users directly exchange currencies without a middleman—can it reach enough liquidity to work?","u":"what-do-you-think-of-a-peer-to-peer-fx-platform-where-users-directly-exchange-currencies-without-a-m","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Foreign Exchange (FX)"],"p":[],"d":"2018-08-10","x":"While I believe this model will ultimately be beneficial, the truth is, there are too many bad actors to make this be…"},{"t":"What’s the safest way to transfer money from the Philippines to the US (wire, online services, or banks)?","u":"whats-the-safest-way-to-transfer-money-from-the-philippines-to-the-us-wire-online-services-or-banks","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2018-08-10","x":"Bank transfers are usually the safest. In your reference you cited, wire-transfer, online or through bank. All these are…"},{"t":"Will mobile payments ever replace credit cards in the US, and what are the main obstacles?","u":"will-mobile-payments-ever-replace-credit-cards-in-the-us-and-what-are-the-main-obstacles","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":["Americas","Developed Markets"],"d":"2018-08-07","x":"For sure (in a way). Nothing lasts for ever. Even the physical card you carry has an expiry date on it (read:…"},{"t":"As a traveler in Denmark, where should I exchange money to get a relatively good exchange rate?","u":"as-a-traveler-in-denmark-where-should-i-exchange-money-to-get-a-relatively-good-exchange-rate","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Foreign Exchange (FX)"],"p":["Denmark","EMEA"],"d":"2018-08-07","x":"I’ve had a difficult time in banks to change money. Plenty of bureau de change around, however, be advised, changing…"},{"t":"If a money services business is exempt from state money transmitter licensing, is FinCEN registration alone sufficient, or do they still need state licenses?","u":"if-a-money-services-business-is-exempt-from-state-money-transmitter-licensing-is-fincen-registration","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":[],"d":"2018-08-06","x":"If you are an MSB that is exempt from MTLs - that exemption would apply on a state by state basis. So for the states you…"},{"t":"Are payroll service providers considered money transmitters/MSBs—and if not, why not?","u":"are-payroll-service-providers-considered-money-transmittersmsbsand-if-not-why-not","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Transmitter Licenses (MTL)"],"p":["Texas"],"d":"2018-08-06","x":"Originally, payroll companies did not need to be licensed. That is how the bulk of them operated. 100s of companies…"},{"t":"What conditions does a society need before it can successfully implement fiat currency?","u":"what-conditions-does-a-society-need-before-it-can-successfully-implement-fiat-currency","c":"History of Money, Banking and Finance","s":["Financial History","Economic History"],"p":[],"d":"2018-08-06","x":"Law . A decree that cites that the fiat money being issued is legal tender for exchange and settlement of debt between…"},{"t":"What could replace paper currency in the future?","u":"what-could-replace-paper-currency-in-the-future","c":"Stablecoins and CBDCs","s":["Digital Dollar"],"p":[],"d":"2018-08-05","x":"Digital Currency. Paper currency that you see, actually is a very small percentage of the overall money supply in any…"},{"t":"Can RTGS be used to transfer funds from overseas into a US bank?","u":"can-rtgs-be-used-to-transfer-funds-from-overseas-into-a-us-bank","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Real-Time Gross Settlement (RTGS)","Payment Infrastructure"],"p":[],"d":"2018-08-05","x":"Typically no. RTGS is usually used by banks in a country to go large settlements amongst themselves. It is pretty much a…"},{"t":"Which banks are willing to provide accounts and payments services to crypto exchanges (for deposits and transfers)?","u":"which-banks-are-willing-to-provide-accounts-and-payments-services-to-crypto-exchanges-for-deposits-a","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Crypto Banking Relationships","Banking Access"],"p":[],"d":"2018-08-05","x":"Many banks are willing to work in this arena, except they will not just do business with any exchange that comes along.…"},{"t":"How can I replenish a forex account when my central bank heavily restricts foreign currency transfers?","u":"how-can-i-replenish-a-forex-account-when-my-central-bank-heavily-restricts-foreign-currency-transfer","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Informal Value Transfer Systems (IVTS)","Underground Banking"],"p":[],"d":"2018-08-05","x":"When a country places outgoing or foreign exchange limits, a new market mushrooms literally overnight, one that expects…"},{"t":"If someone hides money offshore, how do they actually spend it back home without getting caught?","u":"if-someone-hides-money-offshore-how-do-they-actually-spend-it-back-home-without-getting-caught","c":"Money Laundering and Financial Crime","s":["Financial Crime","Money Laundering"],"p":["United States"],"d":"2018-08-05","x":"There are two variants here. People who have money in overseas accounts and their home government cannot do anything…"},{"t":"Is it smart for a fintech startup to build a blockchain product if its main customers are banks—would requiring banks to run nodes create security concerns?","u":"is-it-smart-for-a-fintech-startup-to-build-a-blockchain-product-if-its-main-customers-are-bankswould","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Blockchain Technology"],"p":[],"d":"2018-08-01","x":"There isn’t a lot to go on from the question you have posed, but consider this. If the fintech startup plans to do…"},{"t":"How do remittances physically move money (as opposed to just account balances)?","u":"how-do-remittances-physically-move-money-as-opposed-to-just-account-balances","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":[],"d":"2018-08-01","x":"It doesn’t! (unless of-course you are operating a 100% cash only money transfer network - an example of which I do not…"},{"t":"Before credit cards and global banks, how did travelers (like aristocrats on continental tours) access funds safely without ATMs?","u":"before-credit-cards-and-global-banks-how-did-travelers-like-aristocrats-on-continental-tours-access","c":"History of Money, Banking and Finance","s":["Financial History","History of Banking"],"p":["British Pound Sterling"],"d":"2018-07-06","x":"Credit Lines. In the olden days, if you were traveling outside your banking circle so to speak, you took with you credit…"},{"t":"How can I set up multiple payment gateways on my e-commerce site so payments route based on the customer’s location to the nearest branch?","u":"how-can-i-set-up-multiple-payment-gateways-on-my-e-commerce-site-so-payments-route-based-on-the-cust","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Singapore"],"d":"2018-06-01","x":"Look at super-aggregators like Adyen, Wirecard and I would highly recommend BlueSnap (payment processor) (no affiliation…"},{"t":"Why do ultra-wealthy people invest in second passports?","u":"why-do-ultra-wealthy-people-invest-in-second-passports","c":"Wealth Management, Private Banking and Family Offices","s":["Wealth Management"],"p":["Bangladesh","Ghana"],"d":"2018-05-11","x":"Most of the UHNI that I know, come from either Pakistan, Bangladesh, Nepal, Nigeria, Ghana, Kenya, etc. They obtain the…"},{"t":"How can I transfer money from Pakistan to the US if my funds are in a USD foreign currency account in Pakistan?","u":"how-can-i-transfer-money-from-pakistan-to-the-us-if-my-funds-are-in-a-usd-foreign-currency-account-i","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Pakistan","United States"],"d":"2018-05-10","x":"UPDATED (2023): It used to be that you could go to your bank and do what was mentioned below. Not anymore. The…"},{"t":"Is there a currency called “Dahra”?","u":"is-there-a-currency-called-dahra","c":"General Finance Questions","s":["Finance Terminology","General Finance Questions"],"p":[],"d":"2018-05-10","x":"Not to the best of my knowledge. Perhaps you might be thinking of Dirham . Or it could be one of those new…"},{"t":"Will Ripple face serious regulatory risks (as of 2018)?","u":"will-ripple-face-serious-regulatory-risks-as-of-2018","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["United States"],"d":"2018-05-06","x":"There is one regulatory aspect, which can land Ripple in trouble: Issuance. Ripple itself is not licensed as a money…"},{"t":"Which companies provide global payment services besides Payoneer?","u":"which-companies-provide-global-payment-services-besides-payoneer","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Payout Networks"],"p":[],"d":"2018-05-06","x":"There are literally, 100s of companies that do global payouts. It all depends which corridor(s) you are talking about…"},{"t":"International wires are supposed to take a few days—if a wire is delayed for weeks or a month, where is the money during that time?","u":"international-wires-are-supposed-to-take-a-few-daysif-a-wire-is-delayed-for-weeks-or-a-month-where-i","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Wire Transfer Delays and Tracing"],"p":[],"d":"2018-05-06","x":"The money is most-likely temporarily parked with some institution where the problem or issue may be. See the diagram…"},{"t":"Is it illegal in the US to offer remittances using cryptocurrency, and can crypto remittance services avoid the fees that regulated remittance providers pay?","u":"is-it-illegal-in-the-us-to-offer-remittances-using-cryptocurrency-and-can-crypto-remittance-services","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","US Licensing"],"p":["Americas","Developed Markets"],"d":"2018-05-06","x":"There is nothing illegal about remittances being performed, using crypto-currency as the value of choice. If both…"},{"t":"Why did my USD transfer to a USD-denominated foreign account get converted? I sent $1,000 USD to Europe; the recipient got €820, which was then converted back to $970—why did this happen if their account is in USD?","u":"why-did-my-usd-transfer-to-a-usd-denominated-foreign-account-get-converted-i-sent-1000-usd-to-europe","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["EMEA","Euro"],"d":"2018-05-04","x":"Shouldn’t have happened. If the account is in US Dollar, the process is straight-through and no conversion is necessary…"},{"t":"Where do currency exchange businesses get the currency they sell?","u":"where-do-currency-exchange-businesses-get-the-currency-they-sell","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":["Asia-Pacific (APAC)","Philippines"],"d":"2018-05-04","x":"The answer is the designated bank or the central bank. Lets take the US Dollar for example. In particular country, a US…"},{"t":"How do cryptocurrencies help people who are unbanked or underbanked?","u":"how-do-cryptocurrencies-help-people-who-are-unbanked-or-underbanked","c":"Emerging Markets and Financial Inclusion","s":["Unbanked","Financial Inclusion"],"p":[],"d":"2018-05-03","x":"tl;dr: They don’t! (at present!). Period. Take a long hard look at that photograph above. This is how majority of the…"},{"t":"Why do banks engage in offshore banking?","u":"why-do-banks-engage-in-offshore-banking","c":"General Finance Questions","s":["General Finance Questions"],"p":["Netherlands","United Kingdom"],"d":"2018-04-06","x":"Mostly to create a product offering that is not hinged on the laws of a specific country or a certain geographic region.…"},{"t":"Is Circle Pay a licensed money remittance company?","u":"is-circle-pay-a-licensed-money-remittance-company","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business License","Money Services Business (MSB)"],"p":["North America","United Kingdom"],"d":"2018-04-01","x":"Yes, Circle Internet Financial, or Circle for short is a licensed Money Services Business (MSB) in the United States and…"},{"t":"How do you pay taxes on cryptocurrency assets in Pakistan?","u":"how-do-you-pay-taxes-on-cryptocurrency-assets-in-pakistan","c":"Tax and Financial Reporting","s":["Crypto Tax","Tax"],"p":["Pakistan"],"d":"2018-04-01","x":"You can declare them as a precious metal (like Gold or Silver) in your tax form (if you are holding them) and if you’ve…"},{"t":"What’s Western Union’s value proposition versus competitors or alternative transfer methods?","u":"whats-western-unions-value-proposition-versus-competitors-or-alternative-transfer-methods","c":"Money Transfer Business and MTOs","s":["Western Union","Money Transfer Operators (MTO)"],"p":[],"d":"2018-03-09","x":"Based on personal market research that I have been doing for over 5 years, this is what I have found Western Union has…"},{"t":"Which banks offer the best travel-friendly banking (no FX fees, no international fees, no ATM fees)?","u":"which-banks-offer-the-best-travel-friendly-banking-no-fx-fees-no-international-fees-no-atm-fees","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Bank Fees","Bank Charges"],"p":["United States"],"d":"2018-03-01","x":"I’ve been following banks for a long long time to see if there is indeed a bank that has no international fees and no…"},{"t":"Which industries are most likely to be transformed by blockchain?","u":"which-industries-are-most-likely-to-be-transformed-by-blockchain","c":"Cybersecurity, Digital Identity and Authentication","s":["Digital Identity","Authentication"],"p":["Africa","Canada"],"d":"2018-02-11","x":"My vote goes for Identity . Identity is not a singular fucntion, but more or less a function of collective inputs that…"},{"t":"Why should local banks expand internationally?","u":"why-should-local-banks-expand-internationally","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Business Insights"],"p":[],"d":"2018-02-11","x":"The simplest answer would be, because it can. However, the right answer would be, we are now embedded truly in a global…"},{"t":"Why are salaries usually paid monthly instead of continuously?","u":"why-are-salaries-usually-paid-monthly-instead-of-continuously","c":"History of Money, Banking and Finance","s":["History of Payment Systems","Financial History"],"p":[],"d":"2018-01-11","x":"I’m going to take a guess here and say, the practice comes from the agricultural days, when salaries, etc. were paid in…"},{"t":"If someone day-trades crypto (like Bitcoin) within Coinbase limits, would they be considered a “virtual currency business” requiring a money transmitter license?","u":"if-someone-day-trades-crypto-like-bitcoin-within-coinbase-limits-would-they-be-considered-a-virtual","c":"US Money Transmitter Licensing and MSB Registration","s":["State Crypto Licensing","Money Transmitter Licenses (MTL)"],"p":["Bitcoin","United States"],"d":"2018-01-09","x":"Not if you do the following: Trade for yourself only. Are not executing trades on behalf of others, or on behalf of…"},{"t":"Have you ever bought Bitcoin, forgotten about it, and then later remembered it?","u":"have-you-ever-bought-bitcoin-forgotten-about-it-and-then-later-remembered-it","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Crypto Wallets"],"p":["Bitcoin","United States Dollar"],"d":"2018-01-09","x":"Not directly, but when bitcoin was below $500 - I was trying to make people more aware of it. The easiest thing to do…"},{"t":"Is Ripple a one-way system, or how does it work in both directions?","u":"is-ripple-a-one-way-system-or-how-does-it-work-in-both-directions","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Speculation","Crypto Trading"],"p":[],"d":"2018-01-09","x":"Depends which way you look at it… Here is the price of XRP on 1st Jan 2017. This is the price of XRP as I type this…"},{"t":"What should I do if a business credit card was opened under my name “by accident” by a bank representative?","u":"what-should-i-do-if-a-business-credit-card-was-opened-under-my-name-by-accident-by-a-bank-representa","c":"Consumer Protection, Customer Rights and Customer Service","s":["Complaints and Disputes","Consumer Protection"],"p":[],"d":"2018-01-08","x":"Like any thing in life of such nature. You report it. In writing, and involve someone with a legal background. In your…"},{"t":"What are realistic ways to earn about $5 per day using a PC or a mobile phone?","u":"what-are-realistic-ways-to-earn-about-5-per-day-using-a-pc-or-a-mobile-phone","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Earning Money Online","Income Streams"],"p":["United States Dollar"],"d":"2018-01-08","x":"A day is a long time. Research or doing tasks online for someone can very easily earn you US$ 5.00 per day. Heck - if…"},{"t":"How might cryptocurrencies change the future of publishing?","u":"how-might-cryptocurrencies-change-the-future-of-publishing","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":[],"d":"2018-01-08","x":"I can answer only from the payments perspective. It hasn’t so far. Publishing was the one area everyone predicted that…"},{"t":"How does Venmo operate from a technical perspective?","u":"how-does-venmo-operate-from-a-technical-perspective","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":[],"d":"2017-07-05","x":"Venmo is no different from any other e-money (stored-value) wallet like PayPal (See this answer for a more thorough…"},{"t":"How does online banking bill payment work?","u":"how-does-online-banking-bill-payment-work","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2017-07-05","x":"Bill pay can work in many different ways, depending in which country you are in. Typically, banks will have access to…"},{"t":"Is the Stellar network no longer active or relevant?","u":"is-the-stellar-network-no-longer-active-or-relevant","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Distributed Ledgers"],"p":[],"d":"2017-07-05","x":"Nothing is dead unless they say so. Stellar has been trying to get the momentum going. Joyce Kim\u0026#39;s been working the…"},{"t":"What are nostro and vostro accounts, and how are they used in banking settlements?","u":"what-are-nostro-and-vostro-accounts-and-how-are-they-used-in-banking-settlements","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Nostro Accounts","Correspondent Banking Relationships"],"p":["Philippine Peso","Philippines"],"d":"2017-06-06","x":"Here is my explanation to highlight how a Nostro and a Vostro account works in the most simplified terms. Nostro in…"},{"t":"How do remittance services like Xoom and Western Union transfer money internationally after debiting a bank account?","u":"how-do-remittance-services-like-xoom-and-western-union-transfer-money-internationally-after-debiting","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2017-06-05","x":"The following answers will help you understand how money and money transfer works: Faisal Khan\u0026#39;s answer to How does a…"},{"t":"What are practical ways for cryptocurrencies to achieve broader adoption?","u":"what-are-practical-ways-for-cryptocurrencies-to-achieve-broader-adoption","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2017-06-03","x":"The trusted methodology is to have an extremely wide array of merchants accept Bitcoins, and in some manner incentivize…"},{"t":"In payments, what do “upstream” and “downstream” mean?","u":"in-payments-what-do-upstream-and-downstream-mean","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2017-06-03","x":"Its pretty simple actually. Lets take an example of the ACH (Automated Clearing House) industry. The hierarchy would…"},{"t":"As a non-resident with a Delaware LLC, can I open a U.S. bank account without traveling to the U.S.?","u":"as-a-non-resident-with-a-delaware-llc-can-i-open-a-us-bank-account-without-traveling-to-the-us","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Delaware","United States"],"d":"2017-06-03","x":"Unfortunately, you cannot. Your physical presence at the bank branch is mandatory."},{"t":"How does Western Union’s Money in Minutes service work?","u":"how-does-western-unions-money-in-minutes-service-work","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2017-06-01","x":"The following four answers will help you in understanding the concept: Faisal Khan\u0026#39;s answer to What exactly happens when…"},{"t":"What certification should a bank compliance officer pursue?","u":"what-certification-should-a-bank-compliance-officer-pursue","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Training","Content"],"p":[],"d":"2017-06-01","x":"CAMS (Certified Anti-Money Laundering Specialist) is definitely one of the certifications you should have."},{"t":"Why are credit card transaction fees often around $0.25 or $0.35 per transaction?","u":"why-are-credit-card-transaction-fees-often-around-025-or-035-per-transaction","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":["Asia"],"d":"2017-05-05","x":"This is assessment fees. It is applied by card associations when you use their network. Assessment fees vary world over.…"},{"t":"If I want to earn an extra $100–200 per month online, what options are available?","u":"if-i-want-to-earn-an-extra-100200-per-month-online-what-options-are-available","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Earning Money Online","Side Hustles"],"p":[],"d":"2017-05-05","x":"Register on http://Fiverr.com and sell your time for something like $5/hour. So for $5 someone gets to buy one hour\u0026#39;s…"},{"t":"How does the ACH system work, how are payments processed, and how does it differ from RTGS and other local networks?","u":"how-does-the-ach-system-work-how-are-payments-processed-and-how-does-it-differ-from-rtgs-and-other-l","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2017-05-05","x":"Here is a detailed description of how ACH works, including the time-motion diagram of a typical ACH transaction. Faisal…"},{"t":"Who is developing remittance services based on blockchain technology?","u":"who-is-developing-remittance-services-based-on-blockchain-technology","c":"Money Transfer Business and MTOs","s":["Digital MTOs","Remittance Agents"],"p":[],"d":"2017-05-05","x":"BitPesa was one of the first remittance companies that uses the blockchain for purposes of remittance. I maintain a list…"},{"t":"Which provider does Venmo use for ACH payouts, and do they have special banking relationships for faster transfers?","u":"which-provider-does-venmo-use-for-ach-payouts-and-do-they-have-special-banking-relationships-for-fas","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Fintech Banking Relationships","Banking Access"],"p":[],"d":"2017-05-05","x":"As Venmo is an authorized delegate of PayPal, one would assume that Venmo would be providing revenue to PayPal, and…"},{"t":"Online Payments: What services are similar to Payoneer?","u":"online-payments-what-services-are-similar-to-payoneer","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Payoneer"],"p":["Brazil","China"],"d":"2017-05-01","x":"Depends on what scale you are asking and what monetary context. Payoneer is essentially an e-money operator, i.e. stored…"},{"t":"What is the best way for an expat in a war-torn country to protect savings from a total currency collapse?","u":"what-is-the-best-way-for-an-expat-in-a-war-torn-country-to-protect-savings-from-a-total-currency-col","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Currency Devaluation","Currency Convertibility"],"p":["Bitcoin","United States Dollar"],"d":"2017-05-01","x":"If you have the ability, move your wealth using Bitcoins, and then Buy US Dollars and keep them. You can even use…"},{"t":"Have you personally used Bitcoin?","u":"have-you-personally-used-bitcoin","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Remittances"],"p":["Bitcoin","United States"],"d":"2017-05-01","x":"Instant Buy/Sell takes care of that. In classical cases I can tell you, of people wanting to remit money from the US to…"},{"t":"Is it a crime for banks to knowingly allow stolen funds to be deposited?","u":"is-it-a-crime-for-banks-to-knowingly-allow-stolen-funds-to-be-deposited","c":"Money Laundering and Financial Crime","s":["Financial Crime","Financial Crime Enforcement"],"p":[],"d":"2017-05-01","x":"Absolutely. If the money is knowingly stolen (proven) or has high-indication of being stolen, then it must report the…"},{"t":"Is there a payment vendor that can handle CIP, provide a secure data vault, process payments, move funds, and manage compliance reporting for third-party marketplace platforms?","u":"is-there-a-payment-vendor-that-can-handle-cip-provide-a-secure-data-vault-process-payments-move-fund","c":"E-Commerce, Marketplace and Platform Payments","s":["Marketplace Payments","Platform Payments"],"p":[],"d":"2017-05-01","x":"Any full-stack payment service provider will do that for you. That is what full-stack is all about. Ben Brown has given…"},{"t":"Which bank does Western Union use to hold agent accounts, does it require agents to use that same bank, and how does that bank profit from the relationship?","u":"which-bank-does-western-union-use-to-hold-agent-accounts-does-it-require-agents-to-use-that-same-ban","c":"Money Transfer Business and MTOs","s":["Western Union","Money Transfer Operators (MTO)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2017-05-01","x":"Western Union uses a multitude of banks, where ever in the world they operate. As with any MTO, they like to spread…"},{"t":"What is the easiest method to anonymously move large sums of money offshore?","u":"what-is-the-easiest-method-to-anonymously-move-large-sums-of-money-offshore","c":"Money Laundering and Financial Crime","s":["Financial Crime","Money Laundering"],"p":[],"d":"2017-04-06","x":"In todays world, anonymous and large-sums of money do not go hand in hand. Legally, there would be no way to do this and…"},{"t":"What are the main cost components involved in building a new payment gateway?","u":"what-are-the-main-cost-components-involved-in-building-a-new-payment-gateway","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company"],"p":[],"d":"2017-04-06","x":"A full-stack payment gateway will cost you a couple of $100,000s at least to build (even if you opt for cheap coders to…"},{"t":"How does PayPal move money into bank accounts, and what is the underlying process?","u":"how-does-paypal-move-money-into-bank-accounts-and-what-is-the-underlying-process","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Peer-to-Peer Payments"],"p":["Americas","Developed Markets"],"d":"2017-04-05","x":"PayPal is essentially a wallet, a virtual bank account. The way they transfer money into your designated bank account…"},{"t":"How can ACH be used to move money between a customer’s own checking and savings or investment accounts?","u":"how-can-ach-be-used-to-move-money-between-a-customers-own-checking-and-savings-or-investment-account","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2017-04-05","x":"This would be done in the same way as any other ACH payment is done. The ACH will not differentiate or deter same person…"},{"t":"What are the steps involved in transferring funds between banks?","u":"what-are-the-steps-involved-in-transferring-funds-between-banks","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Account-to-Account Payments"],"p":[],"d":"2017-04-05","x":"Not sure what aspect of money transfer you are asking? From a consumer\u0026#39;s point of view? From a bank client\u0026#39;s point of…"},{"t":"How can I track the status of my SWIFT transfer?","u":"how-can-i-track-the-status-of-my-swift-transfer","c":"International Wire Transfers and Large Transfers","s":["SWIFT Transfers","International Wire Transfers"],"p":[],"d":"2017-04-05","x":"As a consumer, you don\u0026#39;t because you do not have access to the SWIFT Terminal. Your bank/financial institution that had…"},{"t":"How can transaction metadata be added to payments?","u":"how-can-transaction-metadata-be-added-to-payments","c":"Payments (General)","s":["Payment Products"],"p":[],"d":"2017-04-05","x":"Many payment protocols have reserved or message fields, which can be utilized. The question then becomes, how does one…"},{"t":"Does the U.S. government track individual bank account balances?","u":"does-the-us-government-track-individual-bank-account-balances","c":"Regulators, Enforcement and Regulatory Change","s":["Regulatory Reporting","Regulation"],"p":["Americas","Developed Markets"],"d":"2017-04-03","x":"Indirectly, they know of much money your bank has, but they do not have the break down of the customers and their…"},{"t":"What are the main use cases of the Coinbase exchange?","u":"what-are-the-main-use-cases-of-the-coinbase-exchange","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Americas","Bitcoin"],"d":"2017-04-01","x":"Well, perhaps the best use case for Coinbase\u0026#39;s exchange is Coinbase themselves. As a merchant processor they now have…"},{"t":"Why are banks like Westpac exiting FX and money-services businesses, and how likely is it that others will follow?","u":"why-are-banks-like-westpac-exiting-fx-and-money-services-businesses-and-how-likely-is-it-that-others","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["De-Banking","MSB Bank Accounts"],"p":["Australia","Developed Markets"],"d":"2017-04-01","x":"tl;dr: Medium-Risk/High-Risk posed by Money Transfer Operators. Other banks will exit. Banks are used to simple…"},{"t":"How can mobile banking adoption be increased?","u":"how-can-mobile-banking-adoption-be-increased","c":"Digital Banks, Neobanks and Mobile Banking","s":["Digital Banks"],"p":[],"d":"2017-04-01","x":"Lets get something out of the way (the proverbial elephant in the room): You cannot force anyone to use your product.…"},{"t":"What would be required for the many U.S. merchants using flat-screen POS terminals with built-in mag-stripe readers to meet new EMV acceptance requirements?","u":"what-would-be-required-for-the-many-us-merchants-using-flat-screen-pos-terminals-with-built-in-mag-s","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Point of Sale (POS)"],"p":["Americas","Developed Markets"],"d":"2017-04-01","x":"In many cases it might just be that, in some cases, they just might update their hardware as well, and as with many,…"},{"t":"How should a country respond to sudden market instability to restore growth and investor confidence, and what if the country depends heavily on Bitcoin and the code is compromised allowing 15 million extra coins to be mined?","u":"how-should-a-country-respond-to-sudden-market-instability-to-restore-growth-and-investor-confidence","c":"Economics, Inflation and Monetary Policy","s":["Currency","Money Supply"],"p":["Bitcoin"],"d":"2017-04-01","x":"I\u0026#39;ll answer your question in reverse: To put it simply, the limit of 21 million coins is hard coded. Is this is to be…"},{"t":"Which Pakistani debit cards are accepted on AliExpress?","u":"which-pakistani-debit-cards-are-accepted-on-aliexpress","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Marketplace Payments"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2017-03-06","x":"Which Pakistani debit cards are accepted on AliExpress?"},{"t":"Which online payment processors allow the legal sale of marijuana products?","u":"which-online-payment-processors-allow-the-legal-sale-of-marijuana-products","c":"High-Risk Industries","s":["Cannabis Payments","High-Risk Industry Banking"],"p":[],"d":"2017-03-06","x":"Currently, no one is touching/processing the sale of legal Marijuana. The estimated size of the legal Marijuana industry…"},{"t":"What does it typically cost to integrate 2Checkout into a website?","u":"what-does-it-typically-cost-to-integrate-2checkout-into-a-website","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Payment APIs"],"p":["United States Dollar"],"d":"2017-03-06","x":"I think the price is a tad bit too much. Usually the integration is quite easy. As pointed out earlier in other answers,…"},{"t":"Is it possible to withdraw cash from an ATM without using a debit card?","u":"is-it-possible-to-withdraw-cash-from-an-atm-without-using-a-debit-card","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards"],"p":["Africa","Kenya"],"d":"2017-03-06","x":"Yes, cardless ATMs are now being deployed at many locations. You would still need to have some form of an account with…"},{"t":"How can I integrate a payment gateway into my WordPress website?","u":"how-can-i-integrate-a-payment-gateway-into-my-wordpress-website","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Payment APIs"],"p":[],"d":"2017-03-06","x":"If you are asking how to implement a payment gateway software within your WordPress, that is not possible. If you are…"},{"t":"What exactly is a correspondent bank account?","u":"what-exactly-is-a-correspondent-bank-account","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Banking Relationships","Correspondent Tie-Ups"],"p":["New York","Philippines"],"d":"2017-03-05","x":"In simple words, a trusted Proxy. In very crude terms you can assume it to be the \u0026#34;mutual\u0026#34; friend that two people on…"},{"t":"How can I build my own payment gateway and get Visa and Mastercard approval without affiliating with banks or third parties?","u":"how-can-i-build-my-own-payment-gateway-and-get-visa-and-mastercard-approval-without-affiliating-with","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Visa"],"p":[],"d":"2017-03-05","x":"You need to apply directly with Visa/MasterCard for this. Visa for example has the Visa ACP (Accelerated Connection…"},{"t":"What happens to money when you pay electronically, and does it actually move between banks?","u":"what-happens-to-money-when-you-pay-electronically-and-does-it-actually-move-between-banks","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Payment Clearing"],"p":[],"d":"2017-03-05","x":"There is no physical transfer of money, as the money you have, is electronically assigned. The value transfer between…"},{"t":"Is earning $8,000 per month after taxes considered a high income in all countries?","u":"is-earning-8000-per-month-after-taxes-considered-a-high-income-in-all-countries","c":"General Finance Questions","s":["General Finance Questions","General"],"p":[],"d":"2017-03-05","x":"In addition to what Rob Weir has cited, it is pretty decent income."},{"t":"What does the future of banking look like, and are we moving toward a fully cashless economy?","u":"what-does-the-future-of-banking-look-like-and-are-we-moving-toward-a-fully-cashless-economy","c":"General Finance Questions","s":["General Finance Questions"],"p":["Bitcoin"],"d":"2017-03-05","x":"Can we have a cashless society? Sure we can. Will we have one? Probably not. Whilst government\u0026#39;s etc all over the world…"},{"t":"How does the FDIC fund deposit insurance payouts?","u":"how-does-the-fdic-fund-deposit-insurance-payouts","c":"Central Banks and Bank Supervision","s":["Deposit Insurance","Banking Economics"],"p":["United States","United States Dollar"],"d":"2017-03-03","x":"All FDIC insured financial institutions pay a premium, like you would expect with any other insurance company and its…"},{"t":"Why are Visa, Mastercard, and American Express the dominant major players in transaction processing?","u":"why-are-visa-mastercard-and-american-express-the-dominant-major-players-in-transaction-processing","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Visa"],"p":["Developed Markets","India"],"d":"2017-03-03","x":"Joel Yarbrough has answered it. The card associations are retail giants. There are others as well, JCB, Discover, CUP,…"},{"t":"Is an MT103 effectively a payment commitment from the sending bank?","u":"is-an-mt103-effectively-a-payment-commitment-from-the-sending-bank","c":"International Wire Transfers and Large Transfers","s":["SWIFT Transfers","International Wire Transfers"],"p":[],"d":"2017-03-03","x":"Is an MT103 effectively a payment commitment from the sending bank?"},{"t":"In an online payments system, what are IPN callbacks?","u":"in-an-online-payments-system-what-are-ipn-callbacks","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Webhooks and Integrations"],"p":[],"d":"2017-03-03","x":"It is usually a message, that is trigged by a flag for any account that gets an account credit. The message is…"},{"t":"How much of PayPal’s revenue comes from interest-rate arbitrage?","u":"how-much-of-paypals-revenue-comes-from-interest-rate-arbitrage","c":"Treasury, Liquidity and Corporate Finance","s":["Float","Treasury Operations for Payment Firms"],"p":["EMEA","Europe"],"d":"2017-03-01","x":"This is a hard one to answer, as PayPal, more specifically Ebay doest not disclose the income derived from the money…"},{"t":"Is there a compiled list of retailers that accept ACH eChecks (not PayPal)?","u":"is-there-a-compiled-list-of-retailers-that-accept-ach-echecks-not-paypal","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2017-03-01","x":"To the best of my knowledge, no such list is complied/published."},{"t":"Which consulting firms can help set up an online forex brokerage in the United States?","u":"which-consulting-firms-can-help-set-up-an-online-forex-brokerage-in-the-united-states","c":"High-Risk Industries","s":["Forex Broker Payments","High-Risk Verticals"],"p":["Americas","Developed Markets"],"d":"2017-03-01","x":"Reach out to Alpha Sights for them to find you subject matter experts in this area for consulting. Additionally, you…"},{"t":"What is a unique insight you have about cryptocurrencies and blockchain technology?","u":"what-is-a-unique-insight-you-have-about-cryptocurrencies-and-blockchain-technology","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":["Bitcoin"],"d":"2017-03-01","x":"In my line of business, the pragmatic insight we have towards the intended adoption of bitcoin, as a real-time value…"},{"t":"How are money-transfer companies impacted by volatility and intermarket rate movements, and do these changes affect their FX markups?","u":"how-are-money-transfer-companies-impacted-by-volatility-and-intermarket-rate-movements-and-do-these","c":"FX Rates, Spreads and Currency Markets","s":["Foreign Exchange (FX)","Currency Exchange"],"p":[],"d":"2017-03-01","x":"From a cross-border money transfer point of view, the volatility is gripped at the very moment the transaction is…"},{"t":"After PreCash, which companies offer authorized delegate or agent status for money transfer services?","u":"after-precash-which-companies-offer-authorized-delegate-or-agent-status-for-money-transfer-services","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Authorized Delegates","Principal and Agent Models"],"p":[],"d":"2017-02-06","x":"Theoretically speaking, any licensed Money Transmitter can offer it. You just need to have a more pragmatic business…"},{"t":"Will RTGS and ACH payment systems become obsolete once faster payment systems like Australia’s NPP are fully implemented?","u":"will-rtgs-and-ach-payment-systems-become-obsolete-once-faster-payment-systems-like-australias-npp-ar","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Legacy Payment Systems"],"p":["Australia","Developed Markets"],"d":"2017-02-05","x":"Thanks for the A2A. Too many questions, but I will answer your primary question. RTGS will not die out. It is used…"},{"t":"How do large companies record bribes paid through third parties in their financial statements?","u":"how-do-large-companies-record-bribes-paid-through-third-parties-in-their-financial-statements","c":"Money Laundering and Financial Crime","s":["Corruption","Financial Crime"],"p":["Bangladesh","France"],"d":"2017-02-02","x":"This is really interesting. Two cases I have seen, the companies (French and Saudi, and in the other case, Dutch and…"},{"t":"Which merchant account providers do not require you to have a bank account?","u":"which-merchant-account-providers-do-not-require-you-to-have-a-bank-account","c":"Merchant Accounts, Processors and Gateways","s":["Merchant Accounts","Payment Processors"],"p":[],"d":"2017-02-02","x":"Any decent merchant account provider will require you to have a bank account. Merchant services are offered by acquiring…"},{"t":"My Schwab account says brokerage products are not FDIC insured and may lose value—what does that mean, and if Schwab fails, is there another protection scheme?","u":"my-schwab-account-says-brokerage-products-are-not-fdic-insured-and-may-lose-valuewhat-does-that-mean","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Personal Investing"],"p":[],"d":"2017-02-02","x":"It simply means any deposits held in the account under your name are not insured. If CS goes bankrupt you could lose all…"},{"t":"Why do companies require employees to have bank accounts for payroll, and what if I don’t want any relationship with banks?","u":"why-do-companies-require-employees-to-have-bank-accounts-for-payroll-and-what-if-i-dont-want-any-rel","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards","Debit Cards"],"p":["Americas","Developed Markets"],"d":"2017-02-01","x":"Great question! Problem here is that there is no efficient way of taking your pay-stub or cheque and cashing out at an…"},{"t":"How can I make my bank cheque signature more consistent?","u":"how-can-i-make-my-bank-cheque-signature-more-consistent","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Consumer Payment Problems"],"p":[],"d":"2017-02-01","x":"This is a huge issue for a lot many people, especially in countries where the only thing between you and cashing out is…"},{"t":"What can be done when an incoming remittance is sent with an incorrect account number?","u":"what-can-be-done-when-an-incoming-remittance-is-sent-with-an-incorrect-account-number","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Inward Remittances"],"p":["Asia","Bangladesh"],"d":"2017-02-01","x":"It depends on the country of receipt. Here are some options: Request payout based on state issued photo ID and the…"},{"t":"What is “grease money,” and how does it work?","u":"what-is-grease-money-and-how-does-it-work","c":"Payments (General)","s":["Payment Terminology"],"p":[],"d":"2017-02-01","x":"Grease money, or speed money is essentially the small bribes you pay, to get things rolling. There is an old analogy, to…"},{"t":"What was the first fully regulated legal Bitcoin exchange in the U.S.?","u":"what-was-the-first-fully-regulated-legal-bitcoin-exchange-in-the-us","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Americas","Bitcoin"],"d":"2017-02-01","x":"If one must ask which US Bitcoin (Regulated) exchange was the first, it is CoinX (see: http://www.coinx.com ) bar none.…"},{"t":"How might Bitcoin influence financial crises?","u":"how-might-bitcoin-influence-financial-crises","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Capital Controls","Currency Controls"],"p":["Argentina","Bitcoin"],"d":"2017-02-01","x":"Although there are many scenarios, one possible scenario to the financial crises is exchange control, Venezuela and…"},{"t":"Where can I find historical USD-to-EUR exchange rates for a specific date?","u":"where-can-i-find-historical-usd-to-eur-exchange-rates-for-a-specific-date","c":"FX Rates, Spreads and Currency Markets","s":["Exchange Rates","Currency Exchange"],"p":["Euro","United States Dollar"],"d":"2017-02-01","x":"Oanda might be of help: Historical Exchange Rates | OANDA"},{"t":"How do digital wallet systems function?","u":"how-do-digital-wallet-systems-function","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Mobile Payments"],"p":[],"d":"2017-01-06","x":"A Google Wallet is inherently no different that any other money wallet. The basics behind all the wallets are the same.…"},{"t":"Why do banks in Pakistan generally not offer student loans?","u":"why-do-banks-in-pakistan-generally-not-offer-student-loans","c":"Lending, Credit Scores and BNPL","s":["Credit Risk","Student Finance"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2017-01-05","x":"Because the bean-counters see better returns on their investment and less risk when they give money to government that…"},{"t":"Is it possible to transfer funds from SBI in India to Siam Commercial Bank using a SWIFT code?","u":"is-it-possible-to-transfer-funds-from-sbi-in-india-to-siam-commercial-bank-using-a-swift-code","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["India","Thailand"],"d":"2017-01-05","x":"Yes. Both are members of SWIFT and hence it is possible to transfer money from SBI to SC Bank."},{"t":"How strong are credit unions in providing international banking services compared to large banks?","u":"how-strong-are-credit-unions-in-providing-international-banking-services-compared-to-large-banks","c":"Sending and Receiving Money Abroad","s":["Sending Money Abroad (Consumer)"],"p":[],"d":"2017-01-05","x":"Credit Unions are domesticated banks. They work best within the US, and don\u0026#39;t have much dealings and/or business…"},{"t":"Are Swiss bank accounts superior to offshore accounts in places like the Bahamas?","u":"are-swiss-bank-accounts-superior-to-offshore-accounts-in-places-like-the-bahamas","c":"Opening Bank Accounts, Personal and Business","s":["Offshore Banking","Offshore Bank Accounts"],"p":["Bahamas","DACH (Germany, Austria, Switzerland)"],"d":"2017-01-03","x":"Depends on your purpose really. It all comes down to taxation, treaties, investment and banking services they provide."},{"t":"Does PCI compliance apply to Bitcoin transactions and mobile wallet payments?","u":"does-pci-compliance-apply-to-bitcoin-transactions-and-mobile-wallet-payments","c":"Cybersecurity, Digital Identity and Authentication","s":["Data Security","Cybersecurity"],"p":["Bitcoin"],"d":"2017-01-03","x":"PCI compliance for Bitcoin hasn\u0026#39;t been defined per se (last time I checked), however, it is sound methodology of…"},{"t":"Can I build an online bank similar to PayPal, and if yes, how?","u":"can-i-build-an-online-bank-similar-to-paypal-and-if-yes-how","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensable Activities","Licensing Strategy"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2017-01-03","x":"Its a long long answer, but just to cover some basic points (in addition to what Edgar Chris has cited. In the classical…"},{"t":"Why haven’t traditional banks financed low-income populations, leaving that market to microfinance institutions?","u":"why-havent-traditional-banks-financed-low-income-populations-leaving-that-market-to-microfinance-ins","c":"Emerging Markets and Financial Inclusion","s":["Financial Inclusion","Underbanked"],"p":[],"d":"2017-01-02","x":"Outreach is one the major problems. The banks typically do not have an extended (read: grassroots level) network to…"},{"t":"What identification do U.S. banks require to open a checking account?","u":"what-identification-do-us-banks-require-to-open-a-checking-account","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Account Verification"],"p":["Americas","Developed Markets"],"d":"2017-01-01","x":"Any state issued photo ID: passport, drivers license, state issued ID card, military ID can be provided as primary ID."},{"t":"How can I make good use of $30?","u":"how-can-i-make-good-use-of-30","c":"Alternative Finance and Crowdfunding","s":["Crowdfunding","Crowdfunding Platforms"],"p":[],"d":"2017-01-01","x":"Be this man: Gareth Hodges. The man funds nearly all Kickstarter projects. His reasoning for doing so has been…"},{"t":"Do Wall Street professionals use cocaine to improve performance?","u":"do-wall-street-professionals-use-cocaine-to-improve-performance","c":"Careers, Jobs and Working in Finance","s":["People in Finance","Jobs"],"p":[],"d":"2017-01-01","x":"Like. You. Would. Not. Believe. I know of friends and colleagues who use it because of the hours they keep and the…"},{"t":"What affiliate networks are good for start up to integrate?","u":"what-affiliate-networks-are-good-for-start-up-to-integrate","c":"Starting and Running a Fintech or Payments Business","s":["Vendor Selection"],"p":[],"d":"2017-01-01","x":"There are literally 1000s of them. What care you need to exercise is to separate the good ones from the ones that are…"},{"t":"What is the best free online marketing tool for small businesses?","u":"what-is-the-best-free-online-marketing-tool-for-small-businesses","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Learning Resources","Training"],"p":[],"d":"2017-01-01","x":"Check out the 30Day Challenge (google for it or YouTube it) it is an excellent hand-held 30-day video tutorial to help…"},{"t":"What are legitimate ways to make money online?","u":"what-are-legitimate-ways-to-make-money-online","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Earning Money Online","Income Streams"],"p":[],"d":"2016-12-06","x":"Writing is an art, and you\u0026#39;re an artist. From a writing perspective, I will stick to that and answer the following for…"},{"t":"What is the most effective way to transfer $180,000 from the United States to Israel?","u":"what-is-the-most-effective-way-to-transfer-180000-from-the-united-states-to-israel","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Israel","MENA (Middle East and North Africa)"],"d":"2016-12-06","x":"Tipalti or Payoneer - both Israeli based and would love to take this transaction off your hand and move the money for…"},{"t":"What does FOB mean exactly?","u":"what-does-fob-mean-exactly","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Incoterms"],"p":[],"d":"2016-12-03","x":"Indicating \u0026#34;FOB port\u0026#34; means that the seller pays for transportation of the goods to the port of shipment, plus loading…"},{"t":"Was HSBC involved in money laundering?","u":"was-hsbc-involved-in-money-laundering","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":[],"d":"2016-12-01","x":"Was HSBC itself laundering money. No it wasn\u0026#39;t. Was the bank being used to launder money, yes it was. Why you ask?…"},{"t":"Which asset class does gold fall under?","u":"which-asset-class-does-gold-fall-under","c":"General Finance Questions","s":["Finance Terminology","General Finance Questions"],"p":[],"d":"2016-12-01","x":"It doesn\u0026#39;t fall in any of the classical three asset classes. The extended asset classes include real-estate and…"},{"t":"What did the Dutch banking system look like in the 18th century?","u":"what-did-the-dutch-banking-system-look-like-in-the-18th-century","c":"History of Money, Banking and Finance","s":["Financial History","History of Banking"],"p":["Benelux","EMEA"],"d":"2016-12-01","x":"English and Dutch ships taking on stores at port by Jacob Knyff To understand the Dutch banking in the 18th century, one…"},{"t":"What is the difference between CIP, IDV, and KYC?","u":"what-is-the-difference-between-cip-idv-and-kyc","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","Anti-Money Laundering (AML)"],"p":[],"d":"2016-12-01","x":"IDV (ID Verification) is the verification of an ID to determine its authenticity. Passports for example have a passport…"},{"t":"How easy is it for a non-resident to open a bank account in Singapore?","u":"how-easy-is-it-for-a-non-resident-to-open-a-bank-account-in-singapore","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Singapore"],"d":"2016-12-01","x":"For tourists, it is not possible (last time I checked). You need residency proof to open an account (utility bill,…"},{"t":"Which regulated financial company in the EU offers an excellent onboarding experience?","u":"which-regulated-financial-company-in-the-eu-offers-an-excellent-onboarding-experience","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Developed Markets","EMEA"],"d":"2016-11-06","x":"iZettle - their onboarding experience is superb! iZettle – Accept credit card payments with your iPhone, iPad or Android…"},{"t":"Are U.S. banks generally willing to open accounts for U.S. companies owned by non-residents?","u":"are-us-banks-generally-willing-to-open-accounts-for-us-companies-owned-by-non-residents","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Business Bank Accounts"],"p":["Americas","Developed Markets"],"d":"2016-11-06","x":"As long as you have the right documentation for your company and are present in person with the correct KYC documents,…"},{"t":"How can I find a payment service provider whose services I can resell?","u":"how-can-i-find-a-payment-service-provider-whose-services-i-can-resell","c":"Merchant Accounts, Processors and Gateways","s":["Payment Service Providers (PSP)","Payment Processors"],"p":[],"d":"2016-11-06","x":"Barring the technology integration you are talking about, you seem to be defining what is essentially an ISO program.…"},{"t":"What are the requirements to become an ACH processor?","u":"what-are-the-requirements-to-become-an-ach-processor","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2016-11-06","x":"You need to have a working relationship with a licensed financial institute (read: a bank) that is a member of NACHA.…"},{"t":"Why is Simple not classified as a bank?","u":"why-is-simple-not-classified-as-a-bank","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Business Models","Banking-as-a-Service (BaaS)"],"p":[],"d":"2016-11-06","x":"Are you asking why they are not a bank (i.e. why did they not opt for a bank themselves and build their product…"},{"t":"Which debit card works best for online shopping in Pakistan?","u":"which-debit-card-works-best-for-online-shopping-in-pakistan","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards","Expense Cards"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2016-11-06","x":"Which debit card works best for online shopping in Pakistan?"},{"t":"Which prepaid cards in the United States allow receiving money from individuals?","u":"which-prepaid-cards-in-the-united-states-allow-receiving-money-from-individuals","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards","Debit Cards"],"p":["Americas","Developed Markets"],"d":"2016-11-05","x":"Which prepaid cards in the United States allow receiving money from individuals?"},{"t":"Is making a wire transfer through Chase secure, and how can I verify its safety?","u":"is-making-a-wire-transfer-through-chase-secure-and-how-can-i-verify-its-safety","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Wire Transfers","Account-to-Account Payments"],"p":[],"d":"2016-11-05","x":"Millions of people do it every year, so you should be safe. If it is your first time and you want to know the best…"},{"t":"How does a bank connect into the broader financial system?","u":"how-does-a-bank-connect-into-the-broader-financial-system","c":"Banking and Payments Technology Stack","s":["System Integration","Financial Technology Architecture"],"p":[],"d":"2016-11-05","x":"Almost every bank in the world will first have a ledger account with the Central Bank of the country. This is how wealth…"},{"t":"What is school banking, and how is it practiced in Asia?","u":"what-is-school-banking-and-how-is-it-practiced-in-asia","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Saving"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2016-11-02","x":"Basically, an early adoption program for children whilst still in school, to learn how to save. Pennies a day or week,…"},{"t":"Is it common for small banks or credit unions to fail or shut down?","u":"is-it-common-for-small-banks-or-credit-unions-to-fail-or-shut-down","c":"Central Banks and Bank Supervision","s":["Bank Failures","Banking Economics"],"p":[],"d":"2016-11-02","x":"Yes, it is common. The FDIC steps in, and pitches the assess/deposits of the bank to a much larger bank who would be…"},{"t":"What is the MT103 SPP format for funds transfers, and why don’t most banks support it?","u":"what-is-the-mt103-spp-format-for-funds-transfers-and-why-dont-most-banks-support-it","c":"International Wire Transfers and Large Transfers","s":["SWIFT Transfers","International Wire Transfers"],"p":[],"d":"2016-11-02","x":"This is the SWIFT message format for a transfer. All banks that connect to the SWIFT network, support it."},{"t":"Why do people accept extremely high bank service charges for ATM usage?","u":"why-do-people-accept-extremely-high-bank-service-charges-for-atm-usage","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2016-11-01","x":"If you are referring to using 3rd party ATMs, i.e. ATMs not owned by your bank, consider the following: The ATM in…"},{"t":"How much black money has moved through hawala channels?","u":"how-much-black-money-has-moved-through-hawala-channels","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Hawala","Informal Value Transfer Systems (IVTS)"],"p":[],"d":"2016-11-01","x":"Using 2011 data and extrapolating it for 2013, the number was US$ 415* Billion through Hawala remittances. Needless to…"},{"t":"Do merchant accounts support third-party billing, and does PayPal allow this?","u":"do-merchant-accounts-support-third-party-billing-and-does-paypal-allow-this","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Merchant Accounts"],"p":[],"d":"2016-10-09","x":"You\u0026#39;re aggregating payments on your marketplace. For VISA/Mastercard you need to become a PF (Payments Facilitator)…"},{"t":"What actually happens behind the scenes during an international money transfer?","u":"what-actually-happens-behind-the-scenes-during-an-international-money-transfer","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2016-10-09","x":"The following set of answers, answer just that. In all aspects. Read these and you will thoroughly understand how money…"},{"t":"How can I get my Payoneer debit card delivered to Ghana?","u":"how-can-i-get-my-payoneer-debit-card-delivered-to-ghana","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards","Prepaid Cards"],"p":["Africa","Ghana"],"d":"2016-10-09","x":"When you sign-up, they will ship one to you, at your address for which you have supplied your KYC information. If you…"},{"t":"Can India issue a national ID in the form of a debit card like Nigeria has done?","u":"can-india-issue-a-national-id-in-the-form-of-a-debit-card-like-nigeria-has-done","c":"Cybersecurity, Digital Identity and Authentication","s":["Digital Identity"],"p":["India","Indian Rupee"],"d":"2016-10-05","x":"The answer is yes. It can be done. Will it be done? Probably not. Whilst the RuPay vs Card Association battle rages on,…"},{"t":"How can you cash a personal check if you don’t have a bank account?","u":"how-can-you-cash-a-personal-check-if-you-dont-have-a-bank-account","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Consumer Payment Problems"],"p":[],"d":"2016-10-05","x":"If the check is a bearer name check and is not endorsed as Payees Account Only, you can visit any branch of the bank on…"},{"t":"What are good rule-of-thumb guidelines for selling stocks?","u":"what-are-good-rule-of-thumb-guidelines-for-selling-stocks","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Stock Markets","Equities"],"p":[],"d":"2016-10-03","x":"The golden rule above, needless to say always works. For anyone who buys and sells stocks, you need to have a strategy…"},{"t":"Are services like P2PCash or Abra close to disrupting the international remittance market?","u":"are-services-like-p2pcash-or-abra-close-to-disrupting-the-international-remittance-market","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2016-10-03","x":"I cannot stress this enough, nothing is free. Just because it says it is free, does not mean it is. What an average user…"},{"t":"What happens to a country if it is disconnected from the SWIFT system?","u":"what-happens-to-a-country-if-it-is-disconnected-from-the-swift-system","c":"Geopolitics of Money and the International Monetary System","s":["Geopolitics of Money","Alternative Payment Systems"],"p":[],"d":"2016-10-03","x":"Needless to say the ability to use the SWIFT platform for any form of international wire-transfers is no longer an…"},{"t":"Which bank does Facebook use to process payment transactions?","u":"which-bank-does-facebook-use-to-process-payment-transactions","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2016-10-02","x":"Not sure about the bank, none of Facebook\u0026#39;s 10-K filings mention the banks that they work with, though their primary…"},{"t":"Which countries have the most advanced banking systems?","u":"which-countries-have-the-most-advanced-banking-systems","c":"General Finance Questions","s":["General Finance Questions"],"p":["Germany","Nordics"],"d":"2016-10-02","x":"Personally, I rank the UK, Germany and the Nordic countries as the list toppers. Their offering of services, regulation…"},{"t":"Which types of payment methods are safest?","u":"which-types-of-payment-methods-are-safest","c":"Payments (General)","s":["Payment Methods","Choosing a Payment Method"],"p":[],"d":"2016-10-02","x":"I\u0026#39;ve been working on a mindmap for all things money, and one branch is Payment Methods . Snapshot attached below. It is…"},{"t":"I want to become a risk manager at a bank or company—does this offer strong long-term career growth?","u":"i-want-to-become-a-risk-manager-at-a-bank-or-companydoes-this-offer-strong-long-term-career-growth","c":"Careers, Jobs and Working in Finance","s":["Careers in Banking","Employment"],"p":[],"d":"2016-10-02","x":"Solid path. Add to this two areas: Anti-Money Laundering (CAMS) Banking \u0026amp; Payment Law Study these two fields and you…"},{"t":"What should eBay’s business model become in a world where PayPal is no longer part of it?","u":"what-should-ebays-business-model-become-in-a-world-where-paypal-is-no-longer-part-of-it","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Marketplace Payments"],"p":[],"d":"2016-10-02","x":"Agnostic. People ought to be able to pay with any payment instrument that Ebay is able to process. In a competitive…"},{"t":"If I give my virtual assistant access to my SunTrust business online banking for reconciliation, could they view my account number or initiate transfers?","u":"if-i-give-my-virtual-assistant-access-to-my-suntrust-business-online-banking-for-reconciliation-coul","c":"Cybersecurity, Digital Identity and Authentication","s":["Data Security","Cybersecurity"],"p":[],"d":"2016-10-02","x":"If he/she access to the OTM (Online Treasury Module) then they would need a transaction PIN to be able to do any…"},{"t":"Can central banks own assets like real estate, or would that conflict with their mandate or relationship to markets and government?","u":"can-central-banks-own-assets-like-real-estate-or-would-that-conflict-with-their-mandate-or-relations","c":"Central Banks and Bank Supervision","s":["Central Banks","Banking Economics"],"p":[],"d":"2016-10-02","x":"Most central banks would only buy property for establishing a bank\u0026#39;s branch or training office. Central banks are not in…"},{"t":"In a modern banking era, why are wire transfers still limited over weekends and take multiple days?","u":"in-a-modern-banking-era-why-are-wire-transfers-still-limited-over-weekends-and-take-multiple-days","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":["MENA (Middle East and North Africa)","Middle East"],"d":"2016-09-09","x":"Talking from a global perspective, switched payments are automated, but wire transfers, where ledger balances need to be…"},{"t":"What factors influence how people choose a channel for international money transfers?","u":"what-factors-influence-how-people-choose-a-channel-for-international-money-transfers","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2016-09-09","x":"Very open-ended question, as the variables differ from territory to territory. In general, some of the common factors…"},{"t":"How difficult would it be to seriously disrupt Western Union’s core business?","u":"how-difficult-would-it-be-to-seriously-disrupt-western-unions-core-business","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Western Union"],"p":[],"d":"2016-09-08","x":"It would be pretty difficult to disrupt WU\u0026#39;s model, purely because of their brand recognition and distribution network.…"},{"t":"Is it realistic to start a business with little or no capital, and how could it be done?","u":"is-it-realistic-to-start-a-business-with-little-or-no-capital-and-how-could-it-be-done","c":"Starting and Running a Fintech or Payments Business","s":["Deal Brokerage","Entrepreneurship in Finance"],"p":[],"d":"2016-09-08","x":"Become a broker, an intermediary who finds the Buyer and connects them to the Seller (or vice versa)."},{"t":"What are the practical steps to execute a bill-payments startup idea?","u":"what-are-the-practical-steps-to-execute-a-bill-payments-startup-idea","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":[],"d":"2016-09-08","x":"I would second what Hillary Quirk has cited. Synapse Pay. 25 cents, direct ACH."},{"t":"What would happen if the U.S. dollar lost its position as the world’s primary reserve currency?","u":"what-would-happen-if-the-us-dollar-lost-its-position-as-the-worlds-primary-reserve-currency","c":"Geopolitics of Money and the International Monetary System","s":["Reserve Currencies","US Dollar Dominance"],"p":["China","Chinese Yuan Renminbi"],"d":"2016-09-06","x":"Eventually? Perhaps Yes. If more trade and demand moves East, China\u0026#39;s Renminbi would be the next reserve currency of…"},{"t":"What is the best method to transfer $200,000 from the Philippines to the United States?","u":"what-is-the-best-method-to-transfer-200000-from-the-philippines-to-the-united-states","c":"International Wire Transfers and Large Transfers","s":["Large International Transfers","International Wire Transfers"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2016-09-06","x":"If you have a genuine audit trail for the source of the money, I usually advise clients to wire transfer (bank transfer)…"},{"t":"What are the national benefits of plastic money and cashless transactions compared to cash?","u":"what-are-the-national-benefits-of-plastic-money-and-cashless-transactions-compared-to-cash","c":"Payments (General)","s":["Payment Methods","Payment System Modernization"],"p":["Asia","Emerging Markets"],"d":"2016-09-06","x":"The basic premise is for the government and the regulatory institutions to have a better insight as to the transactions…"},{"t":"What are the best Check 21 processing providers for startups?","u":"what-are-the-best-check-21-processing-providers-for-startups","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Checks and Cheques","Payment Infrastructure"],"p":[],"d":"2016-09-02","x":"Difficult to answer based on the lack of information supplied. It all depends what sort of business you are in? Are you…"},{"t":"Are all paper checks processed through the ACH network?","u":"are-all-paper-checks-processed-through-the-ach-network","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Checks and Cheques","Payment Clearing"],"p":[],"d":"2016-09-02","x":"No. Not all. The bulk of the checks processed today are Check21 cleared checks, i.e. via check truncation, with the…"},{"t":"What role do central banks play in today’s globalized financial system?","u":"what-role-do-central-banks-play-in-todays-globalized-financial-system","c":"Central Banks and Bank Supervision","s":["Central Banks","Banking Economics"],"p":[],"d":"2016-09-02","x":"Same as it was previously. To regulate so that rogue or reckless financial institutions can be controlled, to ensure…"},{"t":"What do the Winklevoss twins understand about Bitcoin beyond wanting to profit from it?","u":"what-do-the-winklevoss-twins-understand-about-bitcoin-beyond-wanting-to-profit-from-it","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2016-09-02","x":"Probably more than an average investor. Because they have invested so much, they have come into contact with more…"},{"t":"How do remittances impact the country where the immigrant is employed?","u":"how-do-remittances-impact-the-country-where-the-immigrant-is-employed","c":"Economics, Inflation and Monetary Policy","s":["Macroeconomics","Economic Trends"],"p":[],"d":"2016-09-02","x":"Not so much. A county\u0026#39;s daily transaction of money is probably much larger a number than the amount of remittance that…"},{"t":"How can an online B2B portal position itself as an intermediary in payments?","u":"how-can-an-online-b2b-portal-position-itself-as-an-intermediary-in-payments","c":"E-Commerce, Marketplace and Platform Payments","s":["Platform Payments","Marketplace Payments"],"p":[],"d":"2016-09-01","x":"From a VISA/MasterCard point of view, if you are already a merchant, to become an intermediary (or a marketplace) is to…"},{"t":"Is Bitcoin dead or declining?","u":"is-bitcoin-dead-or-declining","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2016-09-01","x":"No. Bitcoin is indeed growing. Don\u0026#39;t look at the price, as that is not indicative of the growth or lack-thereof. Whilst…"},{"t":"Is there a way to bypass Venezuela’s strict FX controls using Bitcoin?","u":"is-there-a-way-to-bypass-venezuelas-strict-fx-controls-using-bitcoin","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Currency Controls","Capital Controls"],"p":["Bitcoin","Latin America"],"d":"2016-09-01","x":"Is there a way to bypass Venezuela’s strict FX controls using Bitcoin?"},{"t":"Why can’t ACH transfers be processed instantly?","u":"why-cant-ach-transfers-be-processed-instantly","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":["Americas","Developed Markets"],"d":"2016-09-01","x":"The US does not have a centralized switch to which all its 9,000+ financial institutions connect to and settle…"},{"t":"What does “core capital” mean for a bank?","u":"what-does-core-capital-mean-for-a-bank","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2016-09-01","x":"Its Assets minus its Liabilities. That\u0026#39;s the bank\u0026#39;s capital."},{"t":"What would happen if a government issued a tender to an individual to set up a privately owned central bank?","u":"what-would-happen-if-a-government-issued-a-tender-to-an-individual-to-set-up-a-privately-owned-centr","c":"Central Banks and Bank Supervision","s":["Central Banks","Banking Economics"],"p":[],"d":"2016-09-01","x":"There sure would be a lot of hue and cry over it. I\u0026#39;m pretty sure, someone will try to go to court to stop it. No to…"},{"t":"What are the most affordable ways to do international bank or money transfers?","u":"what-are-the-most-affordable-ways-to-do-international-bank-or-money-transfers","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Large International Transfers"],"p":["United States Dollar"],"d":"2016-09-01","x":"For US$ 500 Million (Dollar to Dollar transfer), your bank should be able to facilitate this transfer via SWIFT, would…"},{"t":"Which US bank is best for a foreign worker with no US credit history?","u":"which-us-bank-is-best-for-a-foreign-worker-with-no-us-credit-history","c":"Opening Bank Accounts, Personal and Business","s":["US Bank Accounts for Foreigners","Bank Account Opening"],"p":["United States"],"d":"2016-08-09","x":"Credit history is not a prerequisite to opening a bank account. You can open an account with any bank. The big four are…"},{"t":"How does Droplet Pay work from a technical architecture perspective?","u":"how-does-droplet-pay-work-from-a-technical-architecture-perspective","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2016-08-09","x":"It is presumably a bluetooth enabled app, if not on bluetooth, then it will connect via the internet. Based on…"},{"t":"How does Kash function at a technical or system level?","u":"how-does-kash-function-at-a-technical-or-system-level","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Payment Infrastructure"],"p":[],"d":"2016-08-09","x":"Kash is no different from say Synapse Pay. Basically, you\u0026#39;re logging into your bank account, and the app then pulls out…"},{"t":"How can I recover funds from an offshore bank account that has completely stopped communicating?","u":"how-can-i-recover-funds-from-an-offshore-bank-account-that-has-completely-stopped-communicating","c":"Consumer Protection, Customer Rights and Customer Service","s":["Complaints and Disputes","Consumer Protection"],"p":[],"d":"2016-08-09","x":"Find out who the regulator of the bank and see if this bank is properly chartered/licensed. Writing to the regulator is…"},{"t":"Why is financial inclusion especially important for developing economies?","u":"why-is-financial-inclusion-especially-important-for-developing-economies","c":"Emerging Markets and Financial Inclusion","s":["Financial Inclusion","Development Economics"],"p":[],"d":"2016-08-09","x":"I\u0026#39;ll start by giving an example of what Bill Gates said: https://www.youtube.com/watch?v=... To touch upon certain…"},{"t":"Can Stripe, PayPal, WePay, or Braintree be used by companies that aggregate third-party payments?","u":"can-stripe-paypal-wepay-or-braintree-be-used-by-companies-that-aggregate-third-party-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2016-08-09","x":"Yes, they can be used, however, they will need to see how much you\u0026#39;re processing, what sort of a marketplace (or…"},{"t":"Which payment gateway platforms allow regulated financial services businesses to operate?","u":"which-payment-gateway-platforms-allow-regulated-financial-services-businesses-to-operate","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2016-08-09","x":"There are a few providers who would allow processing and gateway services for MSBs / Financial Services Business (as you…"},{"t":"Between PayPal and Visa/Mastercard, which is more likely to remain dominant long-term?","u":"between-paypal-and-visamastercard-which-is-more-likely-to-remain-dominant-long-term","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":["Europe","European Union"],"d":"2016-08-09","x":"I think both will survive. To have one single monopolistic payments company would be unlikely (especially in Europe). If…"},{"t":"How can I check the status of a Western Union money order?","u":"how-can-i-check-the-status-of-a-western-union-money-order","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2016-08-08","x":"Western Union provides a MTCN (Money Transfer Control Number). Every WU receipt carries the number. You can track it…"},{"t":"How can someone receive money online from PayPal-based companies if PayPal is not supported in their country?","u":"how-can-someone-receive-money-online-from-paypal-based-companies-if-paypal-is-not-supported-in-their","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Getting Paid from Abroad"],"p":[],"d":"2016-08-08","x":"At present a system like this is not in play. However, various organizations are working towards enabling PayPal to…"},{"t":"How do Western Union agents deposit customer cash into Western Union’s banking system?","u":"how-do-western-union-agents-deposit-customer-cash-into-western-unions-banking-system","c":"Money Transfer Business and MTOs","s":["Western Union","Money Transfer Operators (MTO)"],"p":[],"d":"2016-08-08","x":"Western Union usually has a designated bank (sometimes multiple banks) for each territory they operate in. Agents are…"},{"t":"Do gift card companies need a FinCEN money transmitter license for reloadable cards funded with cash?","u":"do-gift-card-companies-need-a-fincen-money-transmitter-license-for-reloadable-cards-funded-with-cash","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["United States"],"d":"2016-08-07","x":"First of all, FinCEN does not provide you with any money transmitter licenses. FinCEN is a federal regulator/oversight…"},{"t":"What is the best online payment method to pay a U.S. company’s Russian employee?","u":"what-is-the-best-online-payment-method-to-pay-a-us-companys-russian-employee","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["CIS (Commonwealth of Independent States)","CIS Countries"],"d":"2016-08-07","x":"Yandex Money \u0026amp; QIWI are your best options. Яндекс.Деньги (Yandex Money) Visa QIWI Wallet (QIWI)"},{"t":"Can a bank avoid liability if a bank executive commits a scam in the bank’s name?","u":"can-a-bank-avoid-liability-if-a-bank-executive-commits-a-scam-in-the-banks-name","c":"Fraud and Scams","s":["Fraud Victim Recourse","Fraud Risk Management"],"p":[],"d":"2016-08-05","x":"If a bank executive (read: employee) commits a scam, then the burden of proof lies on the bank and the investigating LEA…"},{"t":"What lesser-known services does Bank of America offer?","u":"what-lesser-known-services-does-bank-of-america-offer","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2016-08-05","x":"They have a concierge service for their Bank of America Accolades American Express Cardmembers, called WorldPoints."},{"t":"Why does TransferWise charge around 0.5%—is it purely operating costs or are there intermediary bank fees involved?","u":"why-does-transferwise-charge-around-05is-it-purely-operating-costs-or-are-there-intermediary-bank-fe","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2016-08-05","x":"They are a for-profit company, they will charge a fee to make money. They may incur one or multiple parties during the…"},{"t":"How does online banking work, and why can’t a hacker simply increase an account balance without stealing from somewhere else?","u":"how-does-online-banking-work-and-why-cant-a-hacker-simply-increase-an-account-balance-without-steali","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","Ledger Design"],"p":[],"d":"2016-08-05","x":"The whole banking system is based on multiple ledger. Every person has a ledger. All the accounts in a branch have a…"},{"t":"Banks: How difficult is it to start a bank?","u":"banks-how-difficult-is-it-to-start-a-bank","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensable Activities","Licensing Applications"],"p":[],"d":"2016-08-05","x":"Its not a matter of how difficult it is, but the question of Is it allowed by your financial regulator? The online…"},{"t":"If I form a Payment Facilitator, do card networks require assigning individual merchant IDs to each sponsored merchant?","u":"if-i-form-a-payment-facilitator-do-card-networks-require-assigning-individual-merchant-ids-to-each-s","c":"Merchant Accounts, Processors and Gateways","s":["Payment Facilitators (PayFac)","Card Payments"],"p":[],"d":"2016-08-05","x":"Yes, for purposes of tracking it makes it all easy. Since as a PF, you are still having them under-written by the bank,…"},{"t":"How can a non-resident non-citizen open a U.S. bank account?","u":"how-can-a-non-resident-non-citizen-open-a-us-bank-account","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["United States","United States Dollar"],"d":"2016-08-05","x":"You need your valid passport, your VISA copy and some form of photo ID (secondary - if required). It is a pretty simple…"},{"t":"Is blockchain technology energy-inefficient, and if so, how severe is the impact?","u":"is-blockchain-technology-energy-inefficient-and-if-so-how-severe-is-the-impact","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Blockchain Technology"],"p":["Bitcoin"],"d":"2016-08-03","x":"Not sure how bad it is, but it certainly isn\u0026#39;t energy efficient. 10,000s of machines are running worldwide, mining…"},{"t":"What solutions let online customers pay using their online banking login instead of routing and account numbers?","u":"what-solutions-let-online-customers-pay-using-their-online-banking-login-instead-of-routing-and-acco","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Payment Infrastructure"],"p":[],"d":"2016-08-03","x":"Synapse Pay and Knox Payments, both utilize the ability of having to login to your bank account, so that an ACH can be…"},{"t":"What are some simple ways to earn money?","u":"what-are-some-simple-ways-to-earn-money","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Income Streams","Side Hustles"],"p":[],"d":"2016-08-01","x":"Curated Information Arbitrage: The ability to find information for free or a lower price and be able to sell it to…"},{"t":"What is an outward remittance?","u":"what-is-an-outward-remittance","c":"Sending and Receiving Money Abroad","s":["Outward Remittances","Money Transfer"],"p":["United States","United States Dollar"],"d":"2016-08-01","x":"Money exiting the country. So if someone quotes you a figure saying that US Outward remittances for year 2012 was USD…"},{"t":"When a credit card company says it “processes” a transaction, what does that include, and does it involve fraud or legitimacy checks?","u":"when-a-credit-card-company-says-it-processes-a-transaction-what-does-that-include-and-does-it-involv","c":"Card Networks and Card Issuing","s":["Card Authorization","Issuer Processing"],"p":[],"d":"2016-08-01","x":"There are many steps towards an authorization. Elements like is the card valid? Is it stolen? Is the card expired? etc.…"},{"t":"Which currency banknote is considered the most beautiful?","u":"which-currency-banknote-is-considered-the-most-beautiful","c":"General Finance Questions","s":["General Finance Questions"],"p":["Europe (Non-EU)","Norway"],"d":"2016-08-01","x":"Ideally I would like to answer \u0026#34; ...the one in your pocket \u0026#34;, but I digress. I love the Norges Bank\u0026#39;s selected design…"},{"t":"Why do banks and payment services sometimes ask users to enter the same details twice?","u":"why-do-banks-and-payment-services-sometimes-ask-users-to-enter-the-same-details-twice","c":"Payments (General)","s":["Payment Products","Payment Basics"],"p":[],"d":"2016-07-12","x":"It lessens the errors \u0026amp; omissions risk associated with the transaction."},{"t":"What would be a good name for a bank’s fraud and risk management team?","u":"what-would-be-a-good-name-for-a-banks-fraud-and-risk-management-team","c":"Careers, Jobs and Working in Finance","s":["People in Finance","Jobs"],"p":[],"d":"2016-07-12","x":"I say let it be as is. Let me give you an analogous example. Many years ago when American Express was debating the title…"},{"t":"Are you generally satisfied or dissatisfied with your bank and the banking system overall?","u":"are-you-generally-satisfied-or-dissatisfied-with-your-bank-and-the-banking-system-overall","c":"General Finance Questions","s":["General Finance Questions","General"],"p":[],"d":"2016-07-12","x":"Being a consultant for the banking \u0026amp; payments space, the answer will always be a No. Too many factors."},{"t":"How can banks send funds to legitimate overseas charities without violating anti–money laundering rules?","u":"how-can-banks-send-funds-to-legitimate-overseas-charities-without-violating-antimoney-laundering-rul","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Policies and Procedures"],"p":[],"d":"2016-07-12","x":"Banks are extra cautious when it comes to international money transfers. Most banking financial institutions (be it…"},{"t":"Why is it difficult for merchants outside the U.S./EU to support international payments?","u":"why-is-it-difficult-for-merchants-outside-the-useu-to-support-international-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Merchant Accounts"],"p":["Canada","Europe"],"d":"2016-07-12","x":"The merchant account that most providers qualify for, are for Merchants within the US, or EU, Canada (yes, they actually…"},{"t":"What happens if two people withdraw cash at the same time from different ATMs linked to the same bank account?","u":"what-happens-if-two-people-withdraw-cash-at-the-same-time-from-different-atms-linked-to-the-same-ban","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2016-07-12","x":"The bank will let them draw, two different people, two different accounts, etc. However if it is the same account with…"},{"t":"How can I get access to ACH APIs?","u":"how-can-i-get-access-to-ach-apis","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Payment Integration"],"p":[],"d":"2016-07-12","x":"You need to work with an ACH processor that is providing APIs. Each processor will have their own unique API flavor, but…"},{"t":"Are there any “loopholes” to reliably make money in the stock market?","u":"are-there-any-loopholes-to-reliably-make-money-in-the-stock-market","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Stock Markets","Securities"],"p":[],"d":"2016-07-12","x":"Are there any “loopholes” to reliably make money in the stock market?"},{"t":"If money sits on a prepaid debit card (e.g., Payoneer), where is that money actually held before you spend or withdraw it?","u":"if-money-sits-on-a-prepaid-debit-card-eg-payoneer-where-is-that-money-actually-held-before-you-spend","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards","Debit Cards"],"p":[],"d":"2016-07-12","x":"All the money issued on cards (be it prepaid, open looped wallets, etc.) the money lies within a bank. Banks are the…"},{"t":"How does someone obtain a debit card?","u":"how-does-someone-obtain-a-debit-card","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards"],"p":[],"d":"2016-07-09","x":"You just need to be of legal age and qualify to open an account with a bank. Open a bank account (do ask before that if…"},{"t":"What does it practically take to start a money transfer business?","u":"what-does-it-practically-take-to-start-a-money-transfer-business","c":"Money Transfer Business and MTOs","s":["Starting a Remittance Business","Money Transfer Operators (MTO)"],"p":[],"d":"2016-07-09","x":"It all starts with licensing. No matter which country you are in, chances are the money-transfer business is not only…"},{"t":"How realistic was same-day ACH becoming widespread in 2016?","u":"how-realistic-was-same-day-ach-becoming-widespread-in-2016","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","ACH"],"p":["Americas","Developed Markets"],"d":"2016-07-09","x":"Very unlikely. There is a lot of opposition to the immediate deployment from the incumbents. Almost everyone on the…"},{"t":"How can funds be withdrawn from a very old or dormant bank account?","u":"how-can-funds-be-withdrawn-from-a-very-old-or-dormant-bank-account","c":"How Banks Work","s":["Banks","Dormant Accounts"],"p":["United States Dollar"],"d":"2016-07-09","x":"The account may be deleted. For accounts with money in them and no movement, a bank has the legal right to close the…"},{"t":"Is Stellar likely to become mainstream, and why or why not?","u":"is-stellar-likely-to-become-mainstream-and-why-or-why-not","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Blockchain Technology"],"p":[],"d":"2016-07-07","x":"Looks promising. Since Stripe is involved, I believe the product would be well polished. Adoption remains the key of any…"},{"t":"Why is there so much buzz around Bitcoin?","u":"why-is-there-so-much-buzz-around-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2016-07-07","x":"The same fuss there was over the Internet when it came out. Imagine the world without the internet today? Same fuss,…"},{"t":"If I want to launch a Bitcoin startup in Pakistan, what do I need to understand first?","u":"if-i-want-to-launch-a-bitcoin-startup-in-pakistan-what-do-i-need-to-understand-first","c":"Crypto and VASP Licensing","s":["Crypto Regulation","Crypto Licensing"],"p":["Asia","Indian Subcontinent"],"d":"2016-07-07","x":"If you\u0026#39;re in financial services you would need SECP NOC (No-Objection Certificate) from SBP. This process itself is…"},{"t":"How long does it usually take to receive a Payoneer card in Pakistan?","u":"how-long-does-it-usually-take-to-receive-a-payoneer-card-in-pakistan","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Payoneer","Online Payment Platforms"],"p":["Asia","Global South"],"d":"2016-07-07","x":"I applied for my Payoneer card via Fiverr and got it about 16 days from the date they cited it was sent out."},{"t":"Are there startups actively trying to disrupt the traditional banking industry?","u":"are-there-startups-actively-trying-to-disrupt-the-traditional-banking-industry","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Startups","Fintech Industry"],"p":[],"d":"2016-07-06","x":"There is a lot of activity happening in the fintech arena that is poised to disrupt banking. CB Insights published a…"},{"t":"If an ACH debit fails but the funds were already credited to the destination bank, what should be done?","u":"if-an-ach-debit-fails-but-the-funds-were-already-credited-to-the-destination-bank-what-should-be-don","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2016-07-06","x":"You have an IOU and they are now asking for it. Regardless of what it costs, you will have to make payment. The very…"},{"t":"Why do business bank accounts usually not earn interest on deposits?","u":"why-do-business-bank-accounts-usually-not-earn-interest-on-deposits","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2016-07-06","x":"Business \u0026amp;/or Checking Accounts (also known as Current Accounts) are weighted average money that is kept in the bank.…"},{"t":"Why do some people believe that Bitcoin is illegal?","u":"why-do-some-people-believe-that-bitcoin-is-illegal","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulatory Policy Debates"],"p":["Bitcoin"],"d":"2016-07-05","x":"What law does the Bitcoin (protocol) break? None! What law does Bitcoin Money break? (depending upon which country you…"},{"t":"How do people in Pakistan typically receive remittance payments?","u":"how-do-people-in-pakistan-typically-receive-remittance-payments","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Receiving Money from Abroad (Consumer)"],"p":["Asia","Indian Subcontinent"],"d":"2016-07-05","x":"The following are the sanctioned methods of receiving remittances via PRI (at State Bank of Pakistan): MTOs (Money…"},{"t":"Where is the European Central Bank headquartered, and why was that location chosen?","u":"where-is-the-european-central-bank-headquartered-and-why-was-that-location-chosen","c":"Central Banks and Bank Supervision","s":["Central Banks","Banking Economics"],"p":["Europe","European Union"],"d":"2016-07-05","x":"Frankfurt, Germany. The bank is based in Frankfurt , the largest financial centre in the Eurozone . Its location in the…"},{"t":"Is Bitcoin considered a fiat currency, and what backs it, if anything? What exactly happens when a new bitcoin is mined?","u":"is-bitcoin-considered-a-fiat-currency-and-what-backs-it-if-anything-what-exactly-happens-when-a-new","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2016-07-05","x":"No. It is not a fiat currency, no government or law has made it legal tender for general use within their specific…"},{"t":"Does Monitise genuinely have traction in mobile payments, or is its strength mostly in mobile banking?","u":"does-monitise-genuinely-have-traction-in-mobile-payments-or-is-its-strength-mostly-in-mobile-banking","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":[],"d":"2016-07-05","x":"Monitise has about a 20 Million end-user base (spread over 300 financial institutions) that are using a Monetise based…"},{"t":"Who is likely to make the biggest leap in improving Bitcoin’s usability?","u":"who-is-likely-to-make-the-biggest-leap-in-improving-bitcoins-usability","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Freelancer Payments","Gig Worker Payments"],"p":["Bangladesh","Bitcoin"],"d":"2016-07-05","x":"This is a question a lot many people are trying to answer. Cracking the bitcoin usability code is a work in progress. A…"},{"t":"As Americans, what can we do to increase the strength or value of the U.S. dollar?","u":"as-americans-what-can-we-do-to-increase-the-strength-or-value-of-the-us-dollar","c":"Economics, Inflation and Monetary Policy","s":["Currency","Macroeconomics"],"p":["Americas","Developed Markets"],"d":"2016-07-03","x":"Print less money. Reduce Current Account Deficit. Reduce Government Borrowing Deficit."},{"t":"What is the difference between the term “banking area” and “banking industry”?","u":"what-is-the-difference-between-the-term-banking-area-and-banking-industry","c":"General Finance Questions","s":["Definitions","Finance Terminology"],"p":[],"d":"2016-07-03","x":"One and the same. Though area might constitute a small vertical within the industry."},{"t":"Do any banks use processing rails other than ACH?","u":"do-any-banks-use-processing-rails-other-than-ach","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","ACH"],"p":["United States"],"d":"2016-07-03","x":"Sure. If by ACH you imply American banks, then they do Debit/Credit card processing, Fedwire, Check21, L/C, SWIFT, etc."},{"t":"What risks would the Bank of Russia face if it ran its own SWIFT-alternative messaging system?","u":"what-risks-would-the-bank-of-russia-face-if-it-ran-its-own-swift-alternative-messaging-system","c":"Geopolitics of Money and the International Monetary System","s":["Alternative Payment Systems","Russia Sanctions"],"p":["Restricted Jurisdictions","Russia"],"d":"2016-07-02","x":"No danger. The Russians are simply looking for an alternative system that cannot be subject to sanctions and that they…"},{"t":"Bitcoin in 2015: With Bitcoin’s price dropping sharply, can it still be a sensible business decision?","u":"bitcoin-in-2015-with-bitcoins-price-dropping-sharply-can-it-still-be-a-sensible-business-decision","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Speculation","Crypto Trading"],"p":["Bitcoin"],"d":"2016-07-02","x":"The value of bitcoin really doesn\u0026#39;t matter to many who just use it to either trade and cash out instantly or use bitcoin…"},{"t":"How do mobile banking apps that support check-deposit-by-photo compensate for the loss of physical anti-fraud controls?","u":"how-do-mobile-banking-apps-that-support-check-deposit-by-photo-compensate-for-the-loss-of-physical-a","c":"Fraud and Scams","s":["Fraud Prevention","Fraud Risk Management"],"p":[],"d":"2016-07-02","x":"Check fraud is a huge business, by some estimates over $800+ Million. The onus of the check fraud will fall onto the…"},{"t":"I have a Visa Inc. interview next week—how should I prepare?","u":"i-have-a-visa-inc-interview-next-weekhow-should-i-prepare","c":"Careers, Jobs and Working in Finance","s":["Careers in Payments","Employment"],"p":[],"d":"2016-07-01","x":"Couple of things you can do: Read the VISA 10k filing with the SEC (See: SEC Filings Details ) Search through Twitter…"},{"t":"Is there a company that lets you accept bank transfers globally or across several countries?","u":"is-there-a-company-that-lets-you-accept-bank-transfers-globally-or-across-several-countries","c":"Merchant Accounts, Processors and Gateways","s":["Payment Service Providers (PSP)","Payment Processors"],"p":[],"d":"2016-07-01","x":"Envoy Services (200 countries) - Envoy Services Ltd - see if they will be willing to accept payments for many-to-one…"},{"t":"What legal steps and requirements are needed to build a PayPal-like service in the U.S. and globally?","u":"what-legal-steps-and-requirements-are-needed-to-build-a-paypal-like-service-in-the-us-and-globally","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":["European Union","Singapore"],"d":"2016-07-01","x":"In order to become a PayPal (or equivalent) provider in the US, you need to apply with each State\u0026#39;s regulator and obtain…"},{"t":"What is the difference between a current account and a savings account?","u":"what-is-the-difference-between-a-current-account-and-a-savings-account","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Saving"],"p":[],"d":"2016-07-01","x":"A current account is a checking account, one that does not give you any interest on your deposits. A savings account is…"},{"t":"What is Google doing well in payments, and what is it doing poorly?","u":"what-is-google-doing-well-in-payments-and-what-is-it-doing-poorly","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Market Entry Strategy"],"p":["Emerging Markets","Global South"],"d":"2016-07-01","x":"Robert Oswald nailed it. One point I would like to add to this is Google\u0026#39;s shortsightedness when it comes to…"},{"t":"What does a letter-of-credit issuing bank do if the buyer fails to repay after the credit period ends?","u":"what-does-a-letter-of-credit-issuing-bank-do-if-the-buyer-fails-to-repay-after-the-credit-period-end","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Letters of Credit","Import Payments"],"p":[],"d":"2016-07-01","x":"This comes under the purview of the risk assessment that was done prior to the issuance of the LC. Most banks will…"},{"t":"Is there market space for another major payment service provider like PayPal?","u":"is-there-market-space-for-another-major-payment-service-provider-like-paypal","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":[],"d":"2016-07-01","x":"The answer will always be yes, with a caveat, what is it that you are wanting to do differently that PayPal (or others…"},{"t":"How do banks settle foreign-currency transactions—what mechanisms and steps are used?","u":"how-do-banks-settle-foreign-currency-transactionswhat-mechanisms-and-steps-are-used","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":["Thai Baht","Thailand"],"d":"2016-07-01","x":"In very few countries is this FX (settlement) a central bank function. Predominantly it is a treasury (FI) function. The…"},{"t":"What are the key differences between conventional banks and Islamic banks?","u":"what-are-the-key-differences-between-conventional-banks-and-islamic-banks","c":"Islamic, Jewish and Faith-Based Finance","s":["Islamic Finance","Sharia Compliance"],"p":[],"d":"2016-06-12","x":"At the very core, traditional banking is about hoarding money and then lending it out as loans (interest based), Islamic…"},{"t":"What registrations and licenses are required to run an electronic money business?","u":"what-registrations-and-licenses-are-required-to-run-an-electronic-money-business","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["E-Money","Electronic Money Institutions (EMI)"],"p":[],"d":"2016-06-12","x":"HM Revenue \u0026amp; Customs: HM Revenue \u0026amp; Customs Banks are going to be extremely challenging for you."},{"t":"How do electronic payments companies operate?","u":"how-do-electronic-payments-companies-operate","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["UK Licensing","Payment Institutions (PI)"],"p":["Developed Markets","EMEA"],"d":"2016-06-12","x":"Your regulatory authority is FCA (Financial Conduct Authority) in UK, See: Home - Financial Conduct Authority FCA has a…"},{"t":"When might we see mainstream Bitcoin-based remittance that feels seamless for users and matches today’s experience for (a) bank-to-bank and (b) cash-to-cash transfers?","u":"when-might-we-see-mainstream-bitcoin-based-remittance-that-feels-seamless-for-users-and-matches-toda","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Remittances","Crypto Payments"],"p":["Bitcoin"],"d":"2016-06-11","x":"The simplest answer for this is once Bitcoin has full-legal coverage in both the sending and the receiving country. The…"},{"t":"When a card is swiped, what data does the reader capture and in what format is it transmitted?","u":"when-a-card-is-swiped-what-data-does-the-reader-capture-and-in-what-format-is-it-transmitted","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Debit Cards"],"p":[],"d":"2016-06-11","x":"Card readers will read the Track 1 \u0026amp; Track 2 data. The format for the Track 1/2 data can be seen here: Magnetic stripe…"},{"t":"Bank accounts are verified via micro-deposits—who initiates those deposits and how does the verification process work?","u":"bank-accounts-are-verified-via-micro-depositswho-initiates-those-deposits-and-how-does-the-verificat","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication"],"p":[],"d":"2016-06-11","x":"The institution which is trying to verify you, would do this. Let\u0026#39;s say you\u0026#39;re applying for some financial services…"},{"t":"What is the most common logo size used for Visa, Mastercard, AmEx, Discover, JCB, and UnionPay on standard bank cards?","u":"what-is-the-most-common-logo-size-used-for-visa-mastercard-amex-discover-jcb-and-unionpay-on-standar","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Card Issuing"],"p":[],"d":"2016-06-11","x":"Each card scheme has its own branding guidelines and how to put up the log. More of less they are the same to the casual…"},{"t":"Why do bank transfers still take so long today?","u":"why-do-bank-transfers-still-take-so-long-today","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Instant Payments"],"p":["Americas","Developed Markets"],"d":"2016-06-09","x":"Presumably you\u0026#39;re talking about banking in the US? Elsewhere in the world, slowly and surely banks and regulators are…"},{"t":"What technology does Venmo use to pull funds from user bank accounts, and does it rely on bank APIs?","u":"what-technology-does-venmo-use-to-pull-funds-from-user-bank-accounts-and-does-it-rely-on-bank-apis","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":[],"d":"2016-06-09","x":"They don\u0026#39;t use APIs, they use ACH. As per your user agreement, you\u0026#39;re authorizing Venmo to do an ACH pull from your bank…"},{"t":"Is it plausible that an independent PayPal could acquire Square?","u":"is-it-plausible-that-an-independent-paypal-could-acquire-square","c":"Starting and Running a Fintech or Payments Business","s":["Fintech Mergers and Acquisitions","Payments Business Models"],"p":[],"d":"2016-06-09","x":"Resident expert Brian Roemmele thinks so: PayPal To Aquire Square: Headlines From The Future."},{"t":"Where can I earn an annual return of 10–20% on my money?","u":"where-can-i-earn-an-annual-return-of-1020-on-my-money","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Securities","Stock Markets"],"p":[],"d":"2016-06-08","x":"Invest in emerging markets mutual funds. They will easily yield 10% and some do exceptionally well. You would need to…"},{"t":"What conditions would need to be met for another virtual currency to overtake Bitcoin?","u":"what-conditions-would-need-to-be-met-for-another-virtual-currency-to-overtake-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2016-06-06","x":"Greater adoption with equal or better features."},{"t":"What is the broader significance of Bitcoin in economics and technology?","u":"what-is-the-broader-significance-of-bitcoin-in-economics-and-technology","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain Technology","Distributed Ledgers"],"p":["Bitcoin"],"d":"2016-06-06","x":"To be very honest, we don\u0026#39;t know. If you are talking about Bitcoin (the protocol), the use-cases (at present) are almost…"},{"t":"What is the level of credit card penetration in the United States?","u":"what-is-the-level-of-credit-card-penetration-in-the-united-states","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":["United States"],"d":"2016-06-05","x":"Total number of credit card accounts in the U.S. as of Q3 2013: 391.24 million, vs. 457.64 million in Q3 2003 Original…"},{"t":"Did Visa ever acquire Mastercard?","u":"did-visa-ever-acquire-mastercard","c":"Starting and Running a Fintech or Payments Business","s":["Fintech Mergers and Acquisitions","Payments Business Models"],"p":[],"d":"2016-06-05","x":"No, they did not. As of 8:57 PM (GMT) 30th May 2014."},{"t":"What is the general attitude of banks toward Bitcoin?","u":"what-is-the-general-attitude-of-banks-toward-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin","Emerging Markets"],"d":"2016-06-05","x":"From a perspective of the developing world and emerging markets. Most banks have little or no understanding of Bitcoin.…"},{"t":"If UnionPay and Apple work together on iWallet, what major opportunities could that create?","u":"if-unionpay-and-apple-work-together-on-iwallet-what-major-opportunities-could-that-create","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Digital Wallets"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2016-06-05","x":"Think Apple\u0026#39;s play in China, tied into the relatively native payment rails. Then think about the slow but sure footing…"},{"t":"How do global platforms like Facebook maintain fast access speeds from almost anywhere in the world?","u":"how-do-global-platforms-like-facebook-maintain-fast-access-speeds-from-almost-anywhere-in-the-world","c":"General Finance Questions","s":["General","Uncategorised"],"p":[],"d":"2016-06-04","x":"Facebook runs it\u0026#39;s own content delivery network, in addition to this, Facebook has direct peering arrangements with…"},{"t":"What factors drive Bitcoin’s price up and down on a daily basis?","u":"what-factors-drive-bitcoins-price-up-and-down-on-a-daily-basis","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Trading","Crypto Speculation"],"p":["Bitcoin"],"d":"2016-06-04","x":"What factors drive Bitcoin’s price up and down on a daily basis?"},{"t":"How can I put together a proposal for a mobile banking service?","u":"how-can-i-put-together-a-proposal-for-a-mobile-banking-service","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance","Starting a Fintech or Payments Company"],"p":[],"d":"2016-06-03","x":"Unless you\u0026#39;re from the industry, you\u0026#39;d mostly likely to have hire someone to do this for you. A knowledgeable resource…"},{"t":"How can I test demand for a new online payment solution without actually building the product first?","u":"how-can-i-test-demand-for-a-new-online-payment-solution-without-actually-building-the-product-first","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":[],"d":"2016-06-03","x":"On-ground surveys, where you ask the relevant questions and do it all across. Nothing beats on-ground level data. The…"},{"t":"How do services like PayPal and Square move money into and out of their users’ bank accounts?","u":"how-do-services-like-paypal-and-square-move-money-into-and-out-of-their-users-bank-accounts","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Account-to-Account Payments"],"p":[],"d":"2016-06-03","x":"They use ACH for deposits and withdrawals."},{"t":"How do card networks like Visa, AmEx, and Mastercard handle cross-border transactions?","u":"how-do-card-networks-like-visa-amex-and-mastercard-handle-cross-border-transactions","c":"Card Networks and Card Issuing","s":["Cross-Border Card Transactions","Card Schemes and Networks"],"p":[],"d":"2016-06-03","x":"Their transactions / authorizations are routed on their own proprietary networks, whilst the payments aspects are…"},{"t":"How do Bitcoin-based remittances work?","u":"how-do-bitcoin-based-remittances-work","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Bitcoin","Philippine Peso"],"d":"2016-06-03","x":"Here is a detailed slide deck that explains how Bitcoin Remittances (or Rebittances as they are affectionately called)…"},{"t":"What are the implications of a telco like Smart (Philippines) partnering with Rocket Internet to launch a payments product, and is it likely to succeed?","u":"what-are-the-implications-of-a-telco-like-smart-philippines-partnering-with-rocket-internet-to-launc","c":"Business Strategy, Case Studies and Lessons Learned","s":["Partnerships","Business Insights"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2016-06-03","x":"The implications can be mixed. Rocket Internet already owns a payments company called: Paymill (see:…"},{"t":"How do debit and credit transactions flow between two different banks?","u":"how-do-debit-and-credit-transactions-flow-between-two-different-banks","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":[],"d":"2016-06-02","x":"Trusted ledger adjustment. Either directly, or via a reporting or trusting entity, like a payment settlement switch or…"},{"t":"How are nostro and vostro accounts reconciled?","u":"how-are-nostro-and-vostro-accounts-reconciled","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Nostro Accounts","Correspondent Banking Relationships"],"p":[],"d":"2016-06-02","x":"Pretty much like any other account. You check against your own ledger what payments were due, and you will Credit/Debit…"},{"t":"For an incorrect ACH transfer, how should the sender notify the receiving bank under UCC § 4A-205(b) to recover the funds?","u":"for-an-incorrect-ach-transfer-how-should-the-sender-notify-the-receiving-bank-under-ucc-4a-205b-to-r","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2016-06-02","x":"Your bank (sending bank) should be able to assist you in this. You can file for a reversal (they will usually give you a…"},{"t":"What different methods can someone use to pay for a service via mobile phone?","u":"what-different-methods-can-someone-use-to-pay-for-a-service-via-mobile-phone","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":[],"d":"2016-06-01","x":"Two possible solutions I can think of. It would be most likely that mobile wallets would be popular in the country. If…"},{"t":"How does PayPal manage cross-border payments in multiple currencies, who bears the FX risk, and which other payment companies offer similar cross-border handling?","u":"how-does-paypal-manage-cross-border-payments-in-multiple-currencies-who-bears-the-fx-risk-and-which","c":"FX Rates, Spreads and Currency Markets","s":["Foreign Exchange (FX)","Currency Exchange"],"p":["United States"],"d":"2016-06-01","x":"PayPal has a fully functioning Treasury \u0026amp; FX departments within eBay that they use. Presumably, the FX department will…"},{"t":"During an IBAN wire transfer (sender bank → correspondent → recipient), what manual verification steps do humans perform?","u":"during-an-iban-wire-transfer-sender-bank-correspondent-recipient-what-manual-verification-steps-do-h","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":[],"d":"2016-06-01","x":"Choosing which correspondent bank to route the transaction through."},{"t":"What happens behind the scenes when you withdraw cash from an ATM?","u":"what-happens-behind-the-scenes-when-you-withdraw-cash-from-an-atm","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2016-06-01","x":"A typical channel management manager (or switch) is a middle layer app controller along with the ATM Host Controller…"},{"t":"How do ATMs function internally?","u":"how-do-atms-function-internally","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2016-06-01","x":"Quite a few things take place from the very moment you insert the card into an ATM. First and foremost the ATM awakens.…"},{"t":"Where do you do most of your banking today—branch, web, or mobile?","u":"where-do-you-do-most-of-your-banking-todaybranch-web-or-mobile","c":"Digital Banks, Neobanks and Mobile Banking","s":["Digital Banks"],"p":[],"d":"2016-06-01","x":"Most of my banking is done on the web. Branch level visits are limited to times when my physical presence is required.…"},{"t":"Do Nepal, Bangladesh, and Pakistan restrict foreign banks from processing credit card transactions domestically?","u":"do-nepal-bangladesh-and-pakistan-restrict-foreign-banks-from-processing-credit-card-transactions-dom","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Card Security"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2016-05-12","x":"From Pakistan\u0026#39;s perspective, I can tell you the following: Locally issued Debit cards usually cannot be charged online…"},{"t":"What kinds of profit margins do remittance companies typically earn?","u":"what-kinds-of-profit-margins-do-remittance-companies-typically-earn","c":"Payment Corridors and Remittance Economics","s":["Remittance Economics","Remittance Pricing"],"p":["India","United Arab Emirates"],"d":"2016-05-12","x":"Its all corridor dependent. Between 1% to 12% on a boarder scale. For the most competitive remittance corridors like say…"},{"t":"What are the benefits of leveraging existing money-transmitter license holders instead of obtaining a full bank charter?","u":"what-are-the-benefits-of-leveraging-existing-money-transmitter-license-holders-instead-of-obtaining","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensing Strategy","License Type Comparisons (MSB vs EMI vs Bank)"],"p":[],"d":"2016-05-12","x":"MSBs who have Money Transmitter Licenses (MTLs) have their own set of advantages/disadvantages versus owning a bank…"},{"t":"How will mobile financial services achieve mass adoption among both the banked and unbanked?","u":"how-will-mobile-financial-services-achieve-mass-adoption-among-both-the-banked-and-unbanked","c":"Emerging Markets and Financial Inclusion","s":["Financial Inclusion","Unbanked"],"p":[],"d":"2016-05-12","x":"Utiba (now owned by Amdocs) had an answer to this. Recalling from memory: Reaching a mass market will be driven by a…"},{"t":"Why do most hackers never get caught—can’t providers trace where stolen funds go in bank or PayPal fraud cases?","u":"why-do-most-hackers-never-get-caughtcant-providers-trace-where-stolen-funds-go-in-bank-or-paypal-fra","c":"Money Laundering and Financial Crime","s":["Financial Crime","Financial Crime Enforcement"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2016-05-12","x":"Kim Guldberg is spot on, when it comes to the size of the amounts being stolen. I\u0026#39;ve worked with banks who were hit with…"},{"t":"Which podcasts should bankers and banking professionals listen to in order to better understand mainstream money and banking systems?","u":"which-podcasts-should-bankers-and-banking-professionals-listen-to-in-order-to-better-understand-main","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Podcasts","Learning Resources"],"p":[],"d":"2016-05-12","x":"Purely from a Banking perspective: Financial Time\u0026#39;s Banking Weekly is a great podcast: http://podcast.ft.com/s/44 Also,…"},{"t":"Can I transition my career from literature into banking?","u":"can-i-transition-my-career-from-literature-into-banking","c":"Careers, Jobs and Working in Finance","s":["Careers in Banking","Employment"],"p":[],"d":"2016-05-11","x":"Yes, you can. It won\u0026#39;t be easy, but you can. Banks require all sorts of generalized talent pools. If you learn the lingo…"},{"t":"Now that Snapcash launched, does that imply most messaging apps will add money-sending, and should every platform do it?","u":"now-that-snapcash-launched-does-that-imply-most-messaging-apps-will-add-money-sending-and-should-eve","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Peer-to-Peer Payments"],"p":[],"d":"2016-05-11","x":"Ten years ago selfies or even group-selfies were an unknown phenomenon. Today, it is the norm for many. Likewise,…"},{"t":"What is the total addressable market (TAM) for micropayments in the U.S., Europe, and globally, and why?","u":"what-is-the-total-addressable-market-tam-for-micropayments-in-the-us-europe-and-globally-and-why","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":["Americas","Developed Markets"],"d":"2016-05-11","x":"No one knows for sure. Even the definition of Micropayments itself is debated. Is it sub $1 payments or payments between…"},{"t":"Why are micropayment fees often so expensive?","u":"why-are-micropayment-fees-often-so-expensive","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2016-05-11","x":"Simply because the current payment rails were not designed for micropayments. Because the system was not designed to…"},{"t":"For a bank, is it better to offer one all-in-one mobile app (banking + PFM + NFC + wallet), or multiple separate apps for different functions?","u":"for-a-bank-is-it-better-to-offer-one-all-in-one-mobile-app-banking-pfm-nfc-wallet-or-multiple-separa","c":"Digital Banks, Neobanks and Mobile Banking","s":["Digital Banks","App-Only Banking"],"p":[],"d":"2016-05-10","x":"Single Application . Less memory used on the phone. Less version updates. If there is a function or area within the…"},{"t":"What major innovations by banks or non-banks have transformed global banking, and how successful were they?","u":"what-major-innovations-by-banks-or-non-banks-have-transformed-global-banking-and-how-successful-were","c":"Open Banking and Account Aggregation","s":["Open Banking","Open Banking APIs"],"p":[],"d":"2016-05-09","x":"Opening up of APIs to the banking services via middleware connects."},{"t":"What regulations apply when starting an online bank in Europe?","u":"what-regulations-apply-when-starting-an-online-bank-in-europe","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["EU Licensing"],"p":["Cyprus","EMEA"],"d":"2016-05-09","x":"Starting an online bank in the established markets is difficult. You\u0026#39;d be subjected to the same regulations that the…"},{"t":"Are there banks in Hong Kong that specialize in Africa or Middle East operations?","u":"are-there-banks-in-hong-kong-that-specialize-in-africa-or-middle-east-operations","c":"General Finance Questions","s":["General Finance Questions"],"p":["Africa","Emerging Markets"],"d":"2016-05-09","x":"For Africa Standard Chartered Bank is a good option. For Middle East, Citibank, Mashreq Bank and in some cases JP Morgan…"},{"t":"Is there an international certification program specifically for payments professionals?","u":"is-there-an-international-certification-program-specifically-for-payments-professionals","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Training","Content"],"p":[],"d":"2016-05-08","x":"The only international certification for Payments professionals that is accepted and honored worldwide is ACAMS (which…"},{"t":"Do credit and debit card payments go through SWIFT, or do they use separate networks?","u":"do-credit-and-debit-card-payments-go-through-swift-or-do-they-use-separate-networks","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Cross-Border Card Transactions"],"p":[],"d":"2016-05-07","x":"Most Credit and Debit card transactions relay on the Card Scheme networks or in some cases closed-loop networks within a…"},{"t":"If I transfer $10,000 from the U.S. to India or ₹10,000 from India to the U.S., what net amount will I receive?","u":"if-i-transfer-10000-from-the-us-to-india-or-10000-from-india-to-the-us-what-net-amount-will-i-receiv","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["India","Indian Rupee"],"d":"2016-05-07","x":"From US to India, when you will transfer US$ 10,000 as remittances, Regulation E of the CFPB (Consumer Protection…"},{"t":"Why are NFC readers popular in most mobile payment solutions for physical purchases?","u":"why-are-nfc-readers-popular-in-most-mobile-payment-solutions-for-physical-purchases","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":[],"d":"2016-05-06","x":"It can be, but taking a token and then converting it into a barcode for further scanning, etc. are all extra steps.…"},{"t":"How do remittance transfers function from sender to receiver?","u":"how-do-remittance-transfers-function-from-sender-to-receiver","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2016-05-05","x":"Remittances work just like any other correspondent banking relationship, except with everyone taking a little slice of…"},{"t":"Before wire-transfer technology existed, how were funds moved from one person to another?","u":"before-wire-transfer-technology-existed-how-were-funds-moved-from-one-person-to-another","c":"History of Money, Banking and Finance","s":["History of Payment Systems","Financial History"],"p":[],"d":"2016-05-05","x":"The earliest form of money-transfers were done by the Knights Templar, who are accredited with perhaps the earliest form…"},{"t":"Are there APIs that support building remittance services to Nepal, India, and the rest of Southeast Asia?","u":"are-there-apis-that-support-building-remittance-services-to-nepal-india-and-the-rest-of-southeast-as","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Payment Integration"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2016-05-05","x":"Yes plenty of correspondent networks provide access to the payment API. It all depends how you are on-boarding to the…"},{"t":"What licensing considerations apply when holding customer funds in an international peer-to-peer marketplace?","u":"what-licensing-considerations-apply-when-holding-customer-funds-in-an-international-peer-to-peer-mar","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["E-Money","Electronic Money Institutions (EMI)"],"p":["EMEA","Europe"],"d":"2016-05-05","x":"You would need a UK E-Money License. Though you mimic an intermediary, the fact that a payment is made to your account,…"},{"t":"Would a bullion-backed “hard” cryptocurrency meaningfully disrupt fiat currencies?","u":"would-a-bullion-backed-hard-cryptocurrency-meaningfully-disrupt-fiat-currencies","c":"Stablecoins and CBDCs","s":["Stablecoin Issuance"],"p":[],"d":"2016-05-05","x":"Most likely No. What makes the current fiat currency worth its while (despite all its flaws) is that it is accepted…"},{"t":"Could a digital-currency business succeed in Pakistan?","u":"could-a-digital-currency-business-succeed-in-pakistan","c":"Licensing in Other Countries","s":["Pakistan Licensing (SBP)"],"p":["Asia","Indian Subcontinent"],"d":"2016-05-05","x":"Currency exchange is regulated by the FED (Foreign Exchange Department) within State Bank of Pakistan. In order to deal…"},{"t":"Who are the five most powerful figures in global banking today?","u":"who-are-the-five-most-powerful-figures-in-global-banking-today","c":"Central Banks and Bank Supervision","s":["Banking Economics","Central Banks"],"p":["China","United Kingdom"],"d":"2016-05-04","x":"Here are my nominees if you will as to who the most five powerful people in banking are (in no particular order):…"},{"t":"Will WhatsApp ever offer a full API for interacting with feature phones in creative ways?","u":"will-whatsapp-ever-offer-a-full-api-for-interacting-with-feature-phones-in-creative-ways","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["SDKs and Client Libraries"],"p":[],"d":"2016-05-04","x":"Assuming WhatsApp goes the route of WeChat (very strong possibility of this happening), I wouldn\u0026#39;t be surprised if…"},{"t":"Which payment gateway lets a U.S. company charge customers in multiple local currencies, including those in Southeast Asia?","u":"which-payment-gateway-lets-a-us-company-charge-customers-in-multiple-local-currencies-including-thos","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2016-05-04","x":"Braintree will allow you to do that. Currencies with Ruby and so will Stripe: Which currencies does Stripe support?"},{"t":"What trends were expected to shape mobile payments in 2015?","u":"what-trends-were-expected-to-shape-mobile-payments-in-2015","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":[],"d":"2016-05-04","x":"The infographic below best portrays some form of growth in the mobile payments arena. It is very difficult to predict…"},{"t":"What is the maximum amount of money I can legally send to Thailand?","u":"what-is-the-maximum-amount-of-money-i-can-legally-send-to-thailand","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2016-05-04","x":"Usually no limits, unless you\u0026#39;re brining in cash, then there is a declaration that needs to be done over US$ 20,000. For…"},{"t":"What stops banks from processing electronic transactions on weekends and public holidays?","u":"what-stops-banks-from-processing-electronic-transactions-on-weekends-and-public-holidays","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Payment Clearing"],"p":[],"d":"2016-05-04","x":"Nothing except human oversight. In most markets, switch based payments are processed 24/7. For paper-to-digital, the…"},{"t":"When opening a joint bank account, do all account holders need to be physically present?","u":"when-opening-a-joint-bank-account-do-all-account-holders-need-to-be-physically-present","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Account Structures"],"p":[],"d":"2016-05-03","x":"Yes. For KYC purposes, both the signatories would have to be present in person."},{"t":"What are the options for making foreign payments without using a credit card?","u":"what-are-the-options-for-making-foreign-payments-without-using-a-credit-card","c":"Sending and Receiving Money Abroad","s":["Sending Money Abroad (Consumer)","Money Transfer"],"p":[],"d":"2016-05-03","x":"Pre-paid Debit Cards are great. You only load what you need to spend. Some providers will provide you with a non-plastic…"},{"t":"How do banks manage and record very large volumes of transactions and customer accounts?","u":"how-do-banks-manage-and-record-very-large-volumes-of-transactions-and-customer-accounts","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","Scalability"],"p":[],"d":"2016-05-03","x":"As everyone has cited, its predominantly computers. Add to this the divide and conquer rule. Essentially each…"},{"t":"Could Steam’s virtual wallet balance (or “Steam money”) become the most widely used virtual currency?","u":"could-steams-virtual-wallet-balance-or-steam-money-become-the-most-widely-used-virtual-currency","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":[],"d":"2016-05-03","x":"As a closed loop currency, sure. Though I would tend to lean that for the same comparison, Linden Dollars might be more…"},{"t":"What would the world look like if borrowing money didn’t exist?","u":"what-would-the-world-look-like-if-borrowing-money-didnt-exist","c":"Economics, Inflation and Monetary Policy","s":["Macroeconomics","Financial Theory"],"p":[],"d":"2016-05-03","x":"I\u0026#39;d agree we would have less development, perhaps more value for money (i.e. less inflation). Islamic Banking as Jimmy…"},{"t":"Bitcoin in 2015: What’s the best platform for Bitcoin day trading (excluding Coinbase) for users outside the U.S.?","u":"bitcoin-in-2015-whats-the-best-platform-for-bitcoin-day-trading-excluding-coinbase-for-users-outside","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Bitcoin"],"d":"2016-05-02","x":"Both Bitfinex and Bitstamp are great exchange to trade at. Lots of liquidity."},{"t":"What are some interesting facts about Stellar.org?","u":"what-are-some-interesting-facts-about-stellarorg","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Blockchain Technology"],"p":[],"d":"2016-05-02","x":"They are reworking their baseline code to improve scalability. This is going on as I write this. Should be coming out…"},{"t":"Should I combine remittances, bill pay, mobile top-ups, and merchant payments into one app, or build separate apps?","u":"should-i-combine-remittances-bill-pay-mobile-top-ups-and-merchant-payments-into-one-app-or-build-sep","c":"Business Strategy, Case Studies and Lessons Learned","s":["Customer Experience in Finance","Startup Advice"],"p":[],"d":"2016-05-02","x":"Why not. No one is doing to download multiple applications to do multiple set of payments. Single apps with multiple…"},{"t":"What is a strong payment gateway option for a Saudi/Middle East startup besides PayPal?","u":"what-is-a-strong-payment-gateway-option-for-a-saudimiddle-east-startup-besides-paypal","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["EMEA","Emerging Markets"],"d":"2016-05-02","x":"Have you looked at PayTabs? They service the Middle East - PayTabs | Accept Payments Online"},{"t":"How can a website or app initiate an ACH transfer without being underwritten?","u":"how-can-a-website-or-app-initiate-an-ach-transfer-without-being-underwritten","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2016-05-01","x":"Two companies you should look at: Knox Payments, contact Tommy Nicholas or Laura Spiekerman (See:…"},{"t":"If Bank A’s debit card can withdraw cash at Bank B’s ATM, how does that work without banks sharing sensitive account data?","u":"if-bank-as-debit-card-can-withdraw-cash-at-bank-bs-atm-how-does-that-work-without-banks-sharing-sens","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Card Payouts"],"p":[],"d":"2016-05-01","x":"The entire financial system is based on intermediary trust. In many instances, one of the two trading parties can become…"},{"t":"Why is every major tech company building its own payment platform?","u":"why-is-every-major-tech-company-building-its-own-payment-platform","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Business Insights"],"p":[],"d":"2016-05-01","x":"Business (and hopefully dominance). When you have a couple of thousands as your user-base, you\u0026#39;re a very very small…"},{"t":"What is Western Union?","u":"what-is-western-union","c":"Money Transfer Business and MTOs","s":["Western Union","Money Transfer Operators (MTO)"],"p":[],"d":"2016-04-12","x":"Western Union is a worldwide company that is classified as a Money Transfer Operator (MTO), and operates its…"},{"t":"Is there a way to let users transfer money to each other directly from their bank accounts inside my app?","u":"is-there-a-way-to-let-users-transfer-money-to-each-other-directly-from-their-bank-accounts-inside-my","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Payment Infrastructure"],"p":["Americas","Developed Markets"],"d":"2016-04-12","x":"Assuming for the US: There are two ways of doing this: Intrawallet: i.e. all the funds are loaded to the wallet, and…"},{"t":"How does one country lend money to another—do they transfer it electronically, ship it physically, or is it just accounting entries?","u":"how-does-one-country-lend-money-to-anotherdo-they-transfer-it-electronically-ship-it-physically-or-i","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":["British Pound Sterling","Sri Lanka"],"d":"2016-04-10","x":"When two countries typically are involved in lending money to each other, the central bank of each country is usually…"},{"t":"What impact will FinCEN regulation have on virtual-currency payment systems being treated as money transmitters?","u":"what-impact-will-fincen-regulation-have-on-virtual-currency-payment-systems-being-treated-as-money-t","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["Americas","Developed Markets"],"d":"2016-04-10","x":"Well for starters it would remain to be seen that action do the individual States take. Do brokers like Coinbase,…"},{"t":"Can an investment management company accept money (fiat and bitcoin) through a payment gateway?","u":"can-an-investment-management-company-accept-money-fiat-and-bitcoin-through-a-payment-gateway","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2016-04-09","x":"If the payment gateway in question will support Bitcoins, certainly. Not sure what Bitcoin limits merchant gateways like…"},{"t":"Who is likely to become PayPal’s next president?","u":"who-is-likely-to-become-paypals-next-president","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":[],"d":"2016-04-08","x":"Two leading candidates are: Bill Ready (CEO of Braintree Payments) Dana Stalder (General partner at Matrix Partners)"},{"t":"Can Pakistani businesses use a Skrill business account to accept Visa and Mastercard payments?","u":"can-pakistani-businesses-use-a-skrill-business-account-to-accept-visa-and-mastercard-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Card Payments"],"p":["Asia","Indian Subcontinent"],"d":"2016-04-08","x":"Yes, they can. If approved, Skrill\u0026#39;s merchant services are available to Pakistani businesses for worldwide card…"},{"t":"How would widespread adoption of Ripple affect SWIFT and CLS in terms of market share and revenue?","u":"how-would-widespread-adoption-of-ripple-affect-swift-and-cls-in-terms-of-market-share-and-revenue","c":"Business Strategy, Case Studies and Lessons Learned","s":["Competitive Analysis","Industry Insights"],"p":[],"d":"2016-04-08","x":"No one knows for sure. Sometimes even the best of products don\u0026#39;t go mainstream. Intended adoption just never happens. In…"},{"t":"Is there any bank that offers insurance services through its ATM network?","u":"is-there-any-bank-that-offers-insurance-services-through-its-atm-network","c":"Insurance and Risk Management","s":["Insurance Industry"],"p":[],"d":"2016-04-07","x":"ATMs are cash-in/cash-out machines, they are not typically used to sell products \u0026amp;/or services. Most ATM usage would be…"},{"t":"How is Mint.com able to offer users pre-approved credit card offers?","u":"how-is-mintcom-able-to-offer-users-pre-approved-credit-card-offers","c":"Lending, Credit Scores and BNPL","s":["Consumer Credit","Consumer Lending"],"p":[],"d":"2016-04-05","x":"Based on profiling. Profiled data field from your usage would allow them to statistically narrow down the probability…"},{"t":"Can digital bank transfers in the U.S. be completed on weekends, and why or why not?","u":"can-digital-bank-transfers-in-the-us-be-completed-on-weekends-and-why-or-why-not","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","ACH"],"p":["Americas","Developed Markets"],"d":"2016-04-05","x":"Not for ACH, even the digital bank would ride the 3-day rails of the archaic ACH system, which is closed on weekends."},{"t":"What challenges arise when building a client-facing financial application?","u":"what-challenges-arise-when-building-a-client-facing-financial-application","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":[],"d":"2016-04-05","x":"Finding a bank to work with, regulatory approval and then traction."},{"t":"What is the most cost-effective way to wire funds from the U.S. to Europe?","u":"what-is-the-most-cost-effective-way-to-wire-funds-from-the-us-to-europe","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Developed Markets","EMEA"],"d":"2016-04-05","x":"Wire transfers are cheap. Barring that, look at FX Brokers who specialize in payments, eg: TheCurrenyCloud."},{"t":"Do any fully open-source payment gateways exist, beyond libraries that merely integrate with other gateways?","u":"do-any-fully-open-source-payment-gateways-exist-beyond-libraries-that-merely-integrate-with-other-ga","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Open-Source Finance Tools","Payment Integration"],"p":[],"d":"2016-04-04","x":"In so far as I know, no open-source payment gateway exists. The closest example would be Cyclos and their cards/POS…"},{"t":"What onboarding fee does PreCash charge for adding an authorized delegate?","u":"what-onboarding-fee-does-precash-charge-for-adding-an-authorized-delegate","c":"Payment Operations, Pricing and Fees","s":["Payment Pricing","Payment Fees"],"p":[],"d":"2016-04-04","x":"PreCash\u0026#39;s prices are needless to say negotiable. They don\u0026#39;t just provide pricing to anyone, lest they be tagged by the…"},{"t":"Are ATM operating costs the real reason banks charge ATM fees, or is it mostly profit-taking?","u":"are-atm-operating-costs-the-real-reason-banks-charge-atm-fees-or-is-it-mostly-profit-taking","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":["Bangladesh","Indonesia"],"d":"2016-04-04","x":"It depends where in the world you are talking about. In certain countries and in certain geographies and ATM makes…"},{"t":"Why doesn’t Pakistan have local payment gateways similar to PayPal?","u":"why-doesnt-pakistan-have-local-payment-gateways-similar-to-paypal","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensing Costs","Licensing Strategy"],"p":["Asia","Indian Subcontinent"],"d":"2016-04-03","x":"To establish a payment gateway costs a lot of money. As per current rules, that number is approximately Rs. 200 Million…"},{"t":"Where can I exchange currency at the best rate once I arrive in Dubai?","u":"where-can-i-exchange-currency-at-the-best-rate-once-i-arrive-in-dubai","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Foreign Exchange (FX)"],"p":["GCC","United Arab Emirates"],"d":"2016-04-02","x":"Anywhere. The rates are fixed, so they remain the same (in case of US Dollar)"},{"t":"Did Mint.com obtain consent from utility providers before scraping customer account data?","u":"did-mintcom-obtain-consent-from-utility-providers-before-scraping-customer-account-data","c":"Open Banking and Account Aggregation","s":["Consent and Data Sharing","Account Aggregation"],"p":[],"d":"2016-04-02","x":"Yes. Its not like the utility companies will provide carte blanche access to their data. In some cases, utility…"},{"t":"How can I start accepting cryptocurrency payments as a freelancer?","u":"how-can-i-start-accepting-cryptocurrency-payments-as-a-freelancer","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2016-04-01","x":"Picking a wallet is no different than signing up on Gmail, etc. As a novice you most definitely want to avoid a wallet…"},{"t":"How can I send money from the U.S. to the Philippines via wire for free?","u":"how-can-i-send-money-from-the-us-to-the-philippines-via-wire-for-free","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2016-04-01","x":"Give Remitly a try, they are offering incentives - (See http://www.remitly.com ) They have $0 fees as well:"},{"t":"How valuable is the CAMS certification for IT professionals in AML—does it help IT project managers, or is it mainly for compliance staff?","u":"how-valuable-is-the-cams-certification-for-it-professionals-in-amldoes-it-help-it-project-managers-o","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Training","Content"],"p":[],"d":"2016-04-01","x":"CAMS would be an over-kill if you\u0026#39;re not in the AML field. As you have indicated that you are indeed working in the AML…"},{"t":"What is the most convenient way to transfer money from a U.S. bank account to an Irish bank account?","u":"what-is-the-most-convenient-way-to-transfer-money-from-a-us-bank-account-to-an-irish-bank-account","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Developed Markets","Europe"],"d":"2016-04-01","x":"An international wire transfer would be one of the smoothest ways of doing this, i.e. via a SWIFT transfer."},{"t":"Why are remittance inflows slowing down in the Philippines?","u":"why-are-remittance-inflows-slowing-down-in-the-philippines","c":"Economics, Inflation and Monetary Policy","s":["Macroeconomics","Economic Trends"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2016-04-01","x":"They are anything but slowing down. Seasonal or temporary adjustments (or falls), are not impacting the growth patterns.…"},{"t":"Will PayPal be disrupted by newer payment technology companies like Stripe?","u":"will-paypal-be-disrupted-by-newer-payment-technology-companies-like-stripe","c":"Business Strategy, Case Studies and Lessons Learned","s":["Competitive Analysis","Industry Strategy"],"p":[],"d":"2016-04-01","x":"No, they will not be disrupted anytime soon. Here are a couple of reasons. PayPal is constantly reinventing themselves…"},{"t":"What is anti–money laundering?","u":"what-is-antimoney-laundering","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":[],"d":"2016-04-01","x":"Money laundering is the process by which you take dirty money (money obtained from illegal / undeclared means) and…"},{"t":"Is there an app that can replace everything in your wallet except cash?","u":"is-there-an-app-that-can-replace-everything-in-your-wallet-except-cash","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Digital Wallets"],"p":["Bangladesh","Emerging Markets"],"d":"2016-03-12","x":"M-PESA in Kenya. There are many other examples for other MFS controlled markets, each with a varying degree of \u0026#34;almost\u0026#34;…"},{"t":"Why do countries repurchase their own currency from other countries?","u":"why-do-countries-repurchase-their-own-currency-from-other-countries","c":"Economics, Inflation and Monetary Policy","s":["Currency","Macroeconomics"],"p":[],"d":"2016-03-12","x":"To keep money supply and inflation in check."},{"t":"Is it smart to accept Bitcoin but settle into fiat immediately to reduce volatility exposure, and where can I find such a service?","u":"is-it-smart-to-accept-bitcoin-but-settle-into-fiat-immediately-to-reduce-volatility-exposure-and-whe","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payment Processors","Crypto Payments"],"p":["Bitcoin","British Pound Sterling"],"d":"2016-03-11","x":"Here are some of your options: Payment Gateway for Bitcoin and Litecoin Merchant Accounts Accept Payments in Bitcoin…"},{"t":"How do Western Union and MoneyGram operate behind the scenes?","u":"how-do-western-union-and-moneygram-operate-behind-the-scenes","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Western Union"],"p":[],"d":"2016-03-10","x":"With Western Union and MoneyGram it is based on a pre-funded payment based on the Agent\u0026#39;s payout capacity. See the…"},{"t":"Which Pakistani online stores are successful and have international reach?","u":"which-pakistani-online-stores-are-successful-and-have-international-reach","c":"E-Commerce, Marketplace and Platform Payments","s":["Cross-Border E-Commerce"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2016-03-10","x":"Two immediately come to mind: Popinjay. Handmade in Pakistan. Markhor — handcrafted, modern design shoes for the real…"},{"t":"How do foreign exchange transactions work on credit cards?","u":"how-do-foreign-exchange-transactions-work-on-credit-cards","c":"FX Rates, Spreads and Currency Markets","s":["Foreign Exchange (FX)","Currency Exchange"],"p":["British Pound Sterling","Tanzania"],"d":"2016-03-09","x":"When you purchase something in say British Pounds, using your US Issued (Dollar) card, the transaction on the FX part is…"},{"t":"Which banks are willing to open accounts for licensed money services businesses considered high-risk?","u":"which-banks-are-willing-to-open-accounts-for-licensed-money-services-businesses-considered-high-risk","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["MSB Bank Accounts","Banking Access"],"p":[],"d":"2016-03-09","x":"Being able to find banking is going to be extremely difficult, especially if your friend\u0026#39;s MSB business deals with cash…"},{"t":"Which emerging technologies are most disruptive to the banking industry?","u":"which-emerging-technologies-are-most-disruptive-to-the-banking-industry","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain Technology","Blockchain"],"p":["Bitcoin"],"d":"2016-03-09","x":"The payment rails as offered by the current crypto technologies like Bitcoin, Ripple, Stellar, etc. is in my opinion a…"},{"t":"From a technical standpoint, how was PayPal originally built, and how did the founders gain bank access to move funds between accounts?","u":"from-a-technical-standpoint-how-was-paypal-originally-built-and-how-did-the-founders-gain-bank-acces","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Fintech Banking Relationships","Banking Access"],"p":[],"d":"2016-03-09","x":"PayPal was built on the premise of what we now call a modern day digital wallet. The idea was simple, yet brilliant in…"},{"t":"What legal and technical requirements are needed to launch a crowdfunding platform in the U.S.?","u":"what-legal-and-technical-requirements-are-needed-to-launch-a-crowdfunding-platform-in-the-us","c":"US Money Transmitter Licensing and MSB Registration","s":["US Licensing","Money Services Business (MSB)"],"p":["Americas","Developed Markets"],"d":"2016-03-09","x":"Depending on the volume of business you\u0026#39;re funneling, you might be required to register directly with the card schemes,…"},{"t":"What practical steps can I take to spend less and save more?","u":"what-practical-steps-can-i-take-to-spend-less-and-save-more","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Saving"],"p":[],"d":"2016-03-09","x":"If you are going to save, take a predetermined amount that you want to save from your paycheck before anything else.…"},{"t":"Which payment gateway does Airbnb use to process payments?","u":"which-payment-gateway-does-airbnb-use-to-process-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2016-03-08","x":"AirBnB used http://Adyen.com for its global payments."},{"t":"What happens to the remaining balance when a Venmo account is closed?","u":"what-happens-to-the-remaining-balance-when-a-venmo-account-is-closed","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":[],"d":"2016-03-08","x":"When you close your account, the legal obligation is for Venmo to cash you out, i.e. transfer the money out to your bank…"},{"t":"Is it possible to transfer funds from PayPal directly to any MasterCard?","u":"is-it-possible-to-transfer-funds-from-paypal-directly-to-any-mastercard","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets"],"p":[],"d":"2016-03-08","x":"No. Not possible at this time. You could ask them to pay you through the US Payment Service (ACH), but be sure to tell…"},{"t":"How can telecom payment gateways be used to charge for digital content in countries like Saudi Arabia and Egypt?","u":"how-can-telecom-payment-gateways-be-used-to-charge-for-digital-content-in-countries-like-saudi-arabi","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["EMEA","Emerging Markets"],"d":"2016-03-08","x":"Both Zain and STC themselves offer publishers of digital content to be able to sell to their user base. The proposition…"},{"t":"How can funds be moved from a bank account into an app without using ACH?","u":"how-can-funds-be-moved-from-a-bank-account-into-an-app-without-using-ach","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Payment Infrastructure"],"p":[],"d":"2016-03-07","x":"I think you already know the answer, but aren\u0026#39;t quite convinced (yet) that this is the only solution, which is: open a…"},{"t":"In real-time payment systems, what role does a liquidity module play?","u":"in-real-time-payment-systems-what-role-does-a-liquidity-module-play","c":"Treasury, Liquidity and Corporate Finance","s":["Liquidity Management","Treasury Operations for Payment Firms"],"p":[],"d":"2016-03-07","x":"Payments are based on ledger positions, or simply put, when a payment is being made, one ledger is being debited, and…"},{"t":"Historically, what final trigger causes a fiat currency to collapse?","u":"historically-what-final-trigger-causes-a-fiat-currency-to-collapse","c":"History of Money, Banking and Finance","s":["History of Money","Economic History"],"p":[],"d":"2016-03-06","x":"The Fractional Reserve system of creating money and lending. No matter what you do, you can never pay back the interest…"},{"t":"How can a business identify the legal process required to obtain a money transfer license?","u":"how-can-a-business-identify-the-legal-process-required-to-obtain-a-money-transfer-license","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":["Alabama","Americas"],"d":"2016-03-06","x":"Within the US for example, this is a straight-forward process. You can do with with the help of an attorney or without,…"},{"t":"Are there Canadian banks willing to open accounts for money services businesses despite tighter MSB policies?","u":"are-there-canadian-banks-willing-to-open-accounts-for-money-services-businesses-despite-tighter-msb","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["MSB Bank Accounts","Banking Access"],"p":["Americas","Canada"],"d":"2016-03-06","x":"Banks worldwide have clamped down, so to speak on MSB businesses. It all starts with your AML/KYC program. You need to…"},{"t":"Who invented the credit card, and how did it become a widely used payment method in the United States?","u":"who-invented-the-credit-card-and-how-did-it-become-a-widely-used-payment-method-in-the-united-states","c":"History of Money, Banking and Finance","s":["History of Payment Systems","Financial History"],"p":["Americas","Developed Markets"],"d":"2016-03-05","x":"Our resident payments maestro Brian Roemmele give a great answer to this question: How did credit cards become plastic…"},{"t":"Is there a future for mobile payment aggregators, and which industries would benefit most?","u":"is-there-a-future-for-mobile-payment-aggregators-and-which-industries-would-benefit-most","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2016-03-05","x":"Short answer: No. Eventually, interoperability will just kill the mobile payment aggregators."},{"t":"Why would someone choose to found a new bank, and what steps would they take?","u":"why-would-someone-choose-to-found-a-new-bank-and-what-steps-would-they-take","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance"],"p":[],"d":"2016-03-05","x":"One would establish a new bank if one sees an opportunity. If there is room for a new player or if you believe there is…"},{"t":"How can I create a company-branded “debit card” that works at standard point-of-sale terminals?","u":"how-can-i-create-a-company-branded-debit-card-that-works-at-standard-point-of-sale-terminals","c":"Card Networks and Card Issuing","s":["Card Issuing","Card Schemes and Networks"],"p":[],"d":"2016-03-04","x":"You can just have a singular \u0026#34;card association\u0026#34;. To have a debit card for your own company, you just need to have the…"},{"t":"When a country devalues its currency to fix a balance-of-payments crisis, how does that positively and negatively affect people’s standard of living?","u":"when-a-country-devalues-its-currency-to-fix-a-balance-of-payments-crisis-how-does-that-positively-an","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Currency Devaluation"],"p":[],"d":"2016-03-04","x":"Whilst an economist can best answer this question, here are some observable outcomes that can happen. If the country has…"},{"t":"After Visa acquired Fundamo in South Africa, did it actually gain emerging-market share or was the $100 million largely wasted?","u":"after-visa-acquired-fundamo-in-south-africa-did-it-actually-gain-emerging-market-share-or-was-the-10","c":"Starting and Running a Fintech or Payments Business","s":["Fintech Mergers and Acquisitions","Payments Business Models"],"p":["Africa","Emerging Markets"],"d":"2016-03-03","x":"Fundamo didn\u0026#39;t pick sales as they had projected. Had VISA not acquired, they (Fundamo) would be in a pretty pickle from…"},{"t":"How can I set up a conditional payment?","u":"how-can-i-set-up-a-conditional-payment","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Third-Party Payments in Trade"],"p":[],"d":"2016-03-03","x":"The only time you can make a payment conditional is via either escrow (do be cognizant of the party agreeing to escrow,…"},{"t":"I’ve worked at State Bank of India for six years as a forex assistant—what are my chances of getting a banking job in Europe?","u":"ive-worked-at-state-bank-of-india-for-six-years-as-a-forex-assistantwhat-are-my-chances-of-getting-a","c":"Careers, Jobs and Working in Finance","s":["Careers in Banking","Employment"],"p":["Developed Markets","Europe"],"d":"2016-03-03","x":"Pretty low. There are enough forex traders in Europe, sometimes more traders than jobs. Besides, your RBI knowledge is…"},{"t":"How can I connect to the ACH network so customers can pay from their bank accounts inside my product?","u":"how-can-i-connect-to-the-ach-network-so-customers-can-pay-from-their-bank-accounts-inside-my-product","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2016-03-03","x":"Just work with an ACH provider that would enable them to use the providers API, that would stitch this. Ot many people…"},{"t":"How do interbank and cross-country money transfers work?","u":"how-do-interbank-and-cross-country-money-transfers-work","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Ledgers"],"p":["China","France"],"d":"2016-03-03","x":"How do banks transfer money? A question asked of me often is How do banks transfer money? How is money transferred from…"},{"t":"What are the advantages of incorporating a company in the U.S. versus Dubai?","u":"what-are-the-advantages-of-incorporating-a-company-in-the-us-versus-dubai","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Company Formation","Legal Entity Formation by Jurisdiction"],"p":["GCC","MENA (Middle East and North Africa)"],"d":"2016-03-02","x":"It really depends on what you intent to do with your company. For example if you plan on serving the US market and deal…"},{"t":"Can a non-U.S. entity (e.g., an LLC or similar structure) open a corporate account at major U.S. banks?","u":"can-a-non-us-entity-eg-an-llc-or-similar-structure-open-a-corporate-account-at-major-us-banks","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Business Bank Accounts"],"p":["United States"],"d":"2016-03-02","x":"No. You cannot open a corporate bank account for a non-US LLC in the US with a US bank."},{"t":"In Canada, what’s the best API-based way to send money besides PayPal?","u":"in-canada-whats-the-best-api-based-way-to-send-money-besides-paypal","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Domestic Payment Schemes"],"p":["Americas","Canada"],"d":"2016-03-02","x":"Interac. Check with their partners who support API, one such name is http://www.salt.com"},{"t":"What is a recent change in the banking industry, and how could it affect banks’ corporate finance divisions?","u":"what-is-a-recent-change-in-the-banking-industry-and-how-could-it-affect-banks-corporate-finance-divi","c":"Treasury, Liquidity and Corporate Finance","s":["Treasury Operations for Payment Firms"],"p":[],"d":"2016-03-02","x":"Customer acquisition via mobile channels. This now seems to be the focus of 1000s of banks worldwide. The…"},{"t":"How do merchants identify transactions that were made via Apple Pay versus standard contactless card payments?","u":"how-do-merchants-identify-transactions-that-were-made-via-apple-pay-versus-standard-contactless-card","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Digital Wallets"],"p":[],"d":"2016-03-01","x":"They don\u0026#39;t. This is the brilliance of Apple and Apple Pay in EMVCO 4.3, the Token Service Provider (TSP) information…"},{"t":"How can I send money to my home country from Saudi Arabia?","u":"how-can-i-send-money-to-my-home-country-from-saudi-arabia","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["EMEA","MENA (Middle East and North Africa)"],"d":"2016-03-01","x":"Call or Visit Bank Al Rajhi or Bank Albilad. They have the market cornered on money transfers from Saudi Arabia to the…"},{"t":"What is the total annual global volume of corporate remittances via wire transfers?","u":"what-is-the-total-annual-global-volume-of-corporate-remittances-via-wire-transfers","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Large International Transfers"],"p":[],"d":"2016-03-01","x":"Safe to say, the number is very high . In US$ 10s Trillions if not US$ 100s Trillion. Just on a daily basis, the FX Swap…"},{"t":"Why can’t I donate to Wikipedia anonymously using Bitcoin?","u":"why-cant-i-donate-to-wikipedia-anonymously-using-bitcoin","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","Anti-Money Laundering (AML)"],"p":["Bitcoin"],"d":"2016-03-01","x":"As a legit 501(c) charitable organization, Wikimedia Foundation cannot accept 100% anonymous donations. Even your money…"},{"t":"From an unbanked person’s perspective, why is it beneficial to become banked?","u":"from-an-unbanked-persons-perspective-why-is-it-beneficial-to-become-banked","c":"Emerging Markets and Financial Inclusion","s":["Unbanked","Financial Inclusion"],"p":[],"d":"2016-03-01","x":"More and more merchants and bill-pay locations are going electronic for payments. If you\u0026#39;re cash only or cash-from-check…"},{"t":"Should poorer countries have independent central banks?","u":"should-poorer-countries-have-independent-central-banks","c":"Central Banks and Bank Supervision","s":["Central Banks","Banking Economics"],"p":["Africa","ECOWAS"],"d":"2016-03-01","x":"Sure. Why not? The while idea behind a central bank is to regulate and monitor, independently. Even some small Island…"},{"t":"Which country is best for launching a small e-wallet business?","u":"which-country-is-best-for-launching-a-small-e-wallet-business","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Jurisdiction Selection","Licensing Strategy"],"p":["Singapore","United Kingdom"],"d":"2016-02-12","x":"The United Kingdom is a great option, here is what it will cost you to get an E-money license in UK, great for…"},{"t":"Why don’t PayPal or Skrill use SMS-based login verification—are there technical or regulatory obstacles?","u":"why-dont-paypal-or-skrill-use-sms-based-login-verificationare-there-technical-or-regulatory-obstacle","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Multi-Factor Authentication (MFA)"],"p":[],"d":"2016-02-12","x":"Why don’t PayPal or Skrill use SMS-based login verification—are there technical or regulatory obstacles?"},{"t":"Which alternative payment providers are best for online payments in South America?","u":"which-alternative-payment-providers-are-best-for-online-payments-in-south-america","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Americas","Brazil"],"d":"2016-02-12","x":"Look out for Ebanx , they cover Brazil very well. Even markets like Mexico and Peru. https://ebanx.com/en"},{"t":"How has M-PESA evolved since it was first launched?","u":"how-has-m-pesa-evolved-since-it-was-first-launched","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Money","Mobile Payments"],"p":["Africa","East Africa"],"d":"2016-02-12","x":"Here is the evolutionary progress of M-PESA: Some interesting facts: Mobile phone based money transfer service offered…"},{"t":"What is Stripe’s legal structure as a company?","u":"what-is-stripes-legal-structure-as-a-company","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Financial Services Law","Legal Structures"],"p":["California","United States"],"d":"2016-02-12","x":"Can\u0026#39;t tell you about their legal structure, but as they are a PSP in California, they are then exempt from MSB licensing…"},{"t":"Is messaging a key driver of mobile payments, and why?","u":"is-messaging-a-key-driver-of-mobile-payments-and-why","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":[],"d":"2016-02-12","x":"Messaging is indeed a huge driver for payments. Everything we do in the digital world, is actually nothing more than the…"},{"t":"Would a Bitcoin ATM operator business be viable in Pakistan?","u":"would-a-bitcoin-atm-operator-business-be-viable-in-pakistan","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Bitcoin ATMs (BTM)","Crypto ATMs"],"p":["Asia","Bitcoin"],"d":"2016-02-11","x":"Probably not, but then who knows. The demand is low. Very few people know about bitcoins. Of greater concern is that…"},{"t":"What does “Bitcoin tipping” mean?","u":"what-does-bitcoin-tipping-mean","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments"],"p":["Bitcoin"],"d":"2016-02-11","x":"The context in which I understand what Bitcoin Tipping is, it is the ability to pay 5 cents, 10 cents, etc. to people…"},{"t":"What influence do banks have over the creation of new ACH-style networks by startups and large corporations?","u":"what-influence-do-banks-have-over-the-creation-of-new-ach-style-networks-by-startups-and-large-corpo","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","ACH"],"p":[],"d":"2016-02-11","x":"If the ACH is being considered as a private ACH, then the banks would have to agree to use the format for message…"},{"t":"In simple terms, how is the value of a currency determined?","u":"in-simple-terms-how-is-the-value-of-a-currency-determined","c":"Economics, Inflation and Monetary Policy","s":["Currency","Macroeconomics"],"p":[],"d":"2016-02-09","x":"The value of any currency, be it private or fiat, is determined by acceptance and then how strong the acceptance is,…"},{"t":"Why is Pakistan not subject to US OFAC sanctions?","u":"why-is-pakistan-not-subject-to-us-ofac-sanctions","c":"Sanctions, Embargoes and Screening","s":["OFAC","OFAC Sanctions"],"p":["Asia","Pakistan"],"d":"2016-02-09","x":"Why would it be? Pakistan is not a sanctioned country.However, just like any other country, there are Pakistanis who are…"},{"t":"How do banks verify checks that are deposited using a smartphone camera?","u":"how-do-banks-verify-checks-that-are-deposited-using-a-smartphone-camera","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Checks and Cheques","Payment Clearing"],"p":[],"d":"2016-02-09","x":"Banks will treat this image of the cheque in the same manner as cheque truncation is treated, or the way it is treated…"},{"t":"What is the best approach to replicating ZenPayroll or Gusto in a European country like Spain?","u":"what-is-the-best-approach-to-replicating-zenpayroll-or-gusto-in-a-european-country-like-spain","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":["EMEA","Europe"],"d":"2016-02-08","x":"Replication might not be your best option, find a problem that needs addressing and then find a solution, not the other…"},{"t":"How strong is the economic impact of microfinance in developing economies?","u":"how-strong-is-the-economic-impact-of-microfinance-in-developing-economies","c":"Emerging Markets and Financial Inclusion","s":["Development Economics","Financial Inclusion"],"p":[],"d":"2016-02-08","x":"Though the primary focus of microfinance is to extended financial assistance to the poor/needy, who otherwise would not…"},{"t":"How much overdraft is typically allowed on a checking account?","u":"how-much-overdraft-is-typically-allowed-on-a-checking-account","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy"],"p":[],"d":"2016-02-08","x":"The overdraft limit varies from bank to bank, and is also dependent on the type of account you hold within that bank.…"},{"t":"As a foreigner trying to open a bank account in Hungary, what arguments could convince a bank to approve it?","u":"as-a-foreigner-trying-to-open-a-bank-account-in-hungary-what-arguments-could-convince-a-bank-to-appr","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Central Europe","EMEA"],"d":"2016-02-08","x":"European bankers have become very strict towards transient bank accounts (which is that you are describing). No matter…"},{"t":"Can you deposit a check that is more than one year old?","u":"can-you-deposit-a-check-that-is-more-than-one-year-old","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2016-02-07","x":"The validity of a cheque is 6-months from the date on the cheque."},{"t":"Why hasn’t biometric tech like fingerprints and facial recognition been widely adopted in card payments to reduce fraud and costs?","u":"why-hasnt-biometric-tech-like-fingerprints-and-facial-recognition-been-widely-adopted-in-card-paymen","c":"Cybersecurity, Digital Identity and Authentication","s":["Biometrics","Authentication"],"p":[],"d":"2016-02-07","x":"We will eventually get there. The cost of conversion is enormous. Daniel Lubarov gives great examples as to why it is…"},{"t":"Which banking and payments platform vendors have best embraced fintech and next-generation IT?","u":"which-banking-and-payments-platform-vendors-have-best-embraced-fintech-and-next-generation-it","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2016-02-07","x":"One name that pops to mind is Nymbus, http://www.nymbus.com . Another one is nCino http://www.nCino.com . Incumbent…"},{"t":"Why do Google Wallet and PayPal request copies of passports and bank statements, and is this standard for everyone?","u":"why-do-google-wallet-and-paypal-request-copies-of-passports-and-bank-statements-and-is-this-standard","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","Identity Verification (IDV)"],"p":[],"d":"2016-02-07","x":"A licensed institution can ask whatever information it deems necessary to satisfy its own internal KYC requirements…"},{"t":"Who is behind Keenu, which claims to be Pakistan’s first payment gateway?","u":"who-is-behind-keenu-which-claims-to-be-pakistans-first-payment-gateway","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Service Providers (PSP)"],"p":["Emerging Market Licensing","Pakistan"],"d":"2016-02-07","x":"Wemsol: http://www.wemsol.com/ Correcting answer, confused them with someone else. Sorry, this is the Machaiyara group,…"},{"t":"If all miners agreed to reduce their Bitcoin mining capacity by a factor of 1,000, what would happen to costs and the network?","u":"if-all-miners-agreed-to-reduce-their-bitcoin-mining-capacity-by-a-factor-of-1000-what-would-happen-t","c":"Blockchain and Distributed Ledger Technology","s":["Crypto Mining","Blockchain"],"p":["Bitcoin"],"d":"2016-02-06","x":"Assuming that were to happen, the current value of Bitcoin would drop. Excess coins in the market via mining and…"},{"t":"If a system glitch allows untraceable withdrawals or transfers and I report it but it remains unfixed, is using it illegal?","u":"if-a-system-glitch-allows-untraceable-withdrawals-or-transfers-and-i-report-it-but-it-remains-unfixe","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Law","Financial Services Law"],"p":[],"d":"2016-02-06","x":"There are always two parties in the authorization and circulation of money. If you hack or take advantage of the system…"},{"t":"What is the best way to learn how to run a startup, and why is that approach effective?","u":"what-is-the-best-way-to-learn-how-to-run-a-startup-and-why-is-that-approach-effective","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance"],"p":[],"d":"2016-02-05","x":"What is the best way to learn how to run a startup, and why is that approach effective?"},{"t":"Which is better: an international wire transfer or ACH?","u":"which-is-better-an-international-wire-transfer-or-ach","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Bank Deposit Payouts"],"p":[],"d":"2016-02-05","x":"If you are doing this from the US it is the same. It\u0026#39;s just nomenclature. International ACH is basically providers who…"},{"t":"For how many years do banks keep records of deposits and withdrawals in a checking account?","u":"for-how-many-years-do-banks-keep-records-of-deposits-and-withdrawals-in-a-checking-account","c":"How Banks Work","s":["Banks","Bank Records"],"p":[],"d":"2016-02-03","x":"Depends on the country and the time period defined by the regulator. Your average period is a minimum of 7 years."},{"t":"Why is the bank icon typically designed the way it is?","u":"why-is-the-bank-icon-typically-designed-the-way-it-is","c":"History of Money, Banking and Finance","s":["History of Banking","Financial History"],"p":["United States"],"d":"2016-02-03","x":"The icon is a front-replica of the US Federal Hall, and pretty much how most banks followed this architecture style. The…"},{"t":"How is the world’s total illicit income laundered in aggregate?","u":"how-is-the-worlds-total-illicit-income-laundered-in-aggregate","c":"Money Laundering and Financial Crime","s":["Financial Crime","Money Laundering"],"p":[],"d":"2016-02-03","x":"Your question also assumes that wealth is laundered (to make it clean/white). This is not necessarily the case. There…"},{"t":"Why can’t payment gateways operate in every country?","u":"why-cant-payment-gateways-operate-in-every-country","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2016-02-03","x":"Economics is the main issue. Albeit, regulatory stipulations may prevent you from accessing or terminating in a certain…"},{"t":"How many retail banks are there in the U.S. (excluding branches)?","u":"how-many-retail-banks-are-there-in-the-us-excluding-branches","c":"How Banks Work","s":["Banks","Retail Banking"],"p":["Americas","Developed Markets"],"d":"2016-02-03","x":"Number keeps changing, but about 9,000+ retails banks (not branches)."},{"t":"Which consulting firms specialize in helping companies obtain U.S. money transmitter and MSB licenses?","u":"which-consulting-firms-specialize-in-helping-companies-obtain-us-money-transmitter-and-msb-licenses","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":["Americas","North America"],"d":"2016-02-03","x":"Here are some names: MSB Compliance (Jay Postma) Perkins Coie Adam Atlas Law Marco Santori at Pillsbury Law"},{"t":"Do payment gateways permit money-transmission businesses to operate on their platforms?","u":"do-payment-gateways-permit-money-transmission-businesses-to-operate-on-their-platforms","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2016-02-02","x":"Most full-stack or even half-stack payment service providers will not allow the business of traditional money services…"},{"t":"How exactly do Western Union and other instant money transfer services operate?","u":"how-exactly-do-western-union-and-other-instant-money-transfer-services-operate","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Western Union"],"p":[],"d":"2016-02-02","x":"Essentially this is based on the pre-funded agent model. I\u0026#39;ve answered this question previously. Faisal Khan\u0026#39;s answer to…"},{"t":"What basic banking or finance certifications are recommended for IT professionals?","u":"what-basic-banking-or-finance-certifications-are-recommended-for-it-professionals","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Training","Content"],"p":[],"d":"2016-02-01","x":"Two courses or certifications can really help your career grow: Anti-Money Laundering Training. Finance for Non-Finance…"},{"t":"In a core banking system, what does “multi-bank capability” mean?","u":"in-a-core-banking-system-what-does-multi-bank-capability-mean","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2016-02-01","x":"It is different from multi-entity (i.e. the ability to run multiple banks in the same software, haven\u0026#39;t seen that happen…"},{"t":"What is the difference between a governing body and a regulatory body?","u":"what-is-the-difference-between-a-governing-body-and-a-regulatory-body","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulators"],"p":[],"d":"2016-02-01","x":"Same thing. In various British territories (including former territories) the word governing is used instead of…"},{"t":"In simple terms, what is a payment and settlement system?","u":"in-simple-terms-what-is-a-payment-and-settlement-system","c":"Payments (General)","s":["Payment Basics","Payment Industry Overview"],"p":["United States Dollar"],"d":"2016-02-01","x":"A payments \u0026amp; settlement system is like an accountant. It keeps track of who owe whom and how much. To cite it as an…"},{"t":"Why does U.S. banking appear relatively outdated compared with other countries?","u":"why-does-us-banking-appear-relatively-outdated-compared-with-other-countries","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Legacy Payment Systems","Payment Infrastructure"],"p":["Americas","Developed Markets"],"d":"2016-02-01","x":"Here are some reasons: 8,000+ Banks, Nearly 90,000+ branches. 12 Federal reserve Districts 50 US State Regulators 2…"},{"t":"How frequent is fraud in mobile check deposit systems?","u":"how-frequent-is-fraud-in-mobile-check-deposit-systems","c":"Fraud and Scams","s":["Check Fraud","Fraud Risk Management"],"p":[],"d":"2016-02-01","x":"Two possibilities. The commonality of the fraud is unknown. Bank identity theft (information about your name, address,…"},{"t":"What information do banks capture in real time during a transaction?","u":"what-information-do-banks-capture-in-real-time-during-a-transaction","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","Transaction Monitoring"],"p":[],"d":"2016-02-01","x":"From an MSB (Money Services Business) the data points captured are about 30 (not all of them are mandatory). A list of…"},{"t":"Can I use Western Union to send money into my Payoneer account?","u":"can-i-use-western-union-to-send-money-into-my-payoneer-account","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Receiving Money from Abroad (Consumer)"],"p":["Europe"],"d":"2016-01-12","x":"Only if your use Payoneer\u0026#39;s US/Europe Payment Service. You can make payments using WesternUnion\u0026#39;s website: Send Money to…"},{"t":"How do I begin day trading?","u":"how-do-i-begin-day-trading","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Stock Markets","Securities"],"p":[],"d":"2016-01-12","x":"Where you trade a certain stock/equities or market, during its trading hours only, i.e. you will close all trades before…"},{"t":"What laws or tools would be needed to legally link Bitcoin wallets to real identities like PayPal accounts?","u":"what-laws-or-tools-would-be-needed-to-legally-link-bitcoin-wallets-to-real-identities-like-paypal-ac","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","State Crypto Licensing"],"p":["Americas","Bitcoin"],"d":"2016-01-12","x":"tl;dr: Bitcoin needs to be defined in existing money transmission laws. In the absence of legislation (or…"},{"t":"Which financial institutions are progressive-leaning and widely accessible across the U.S. (and ideally internationally), either via branches or strong online access?","u":"which-financial-institutions-are-progressive-leaning-and-widely-accessible-across-the-us-and-ideally","c":"Sustainable, Ethical and ESG Finance","s":["Ethical Finance"],"p":["United States"],"d":"2016-01-12","x":"USAA might be a good option: USAA Military Home, Life \u0026amp; Auto Insurance They operate virtually all over the US. You can…"},{"t":"What safeguards prevent a bank from artificially creating balances or simulating deposits, similar to how Bitcoin uses proof-of-work and an auditable ledger?","u":"what-safeguards-prevent-a-bank-from-artificially-creating-balances-or-simulating-deposits-similar-to","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2016-01-12","x":"Ledger Entries. Every debit and/or credit that a bank does, is entered into the ledger system. The ledger is a…"},{"t":"Which startups are focused on corporate or B2B payments?","u":"which-startups-are-focused-on-corporate-or-b2b-payments","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Supplier Payments","Cross-Border B2B Payments"],"p":[],"d":"2016-01-11","x":"Tipalti ( Mass Payouts Provider | Global Affiliate and Publisher Payments | Tipalti.com ) comes to mind."},{"t":"What should I do with old routers?","u":"what-should-i-do-with-old-routers","c":"Payments (General)","s":["TIPS"],"p":[],"d":"2016-01-11","x":"If they are very old, and you have no use for them, donate them to perhaps a school, a computer institute or an IT…"},{"t":"Which payment gateway providers offer strong protection and transparency when responding to government data requests?","u":"which-payment-gateway-providers-offer-strong-protection-and-transparency-when-responding-to-governme","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2016-01-11","x":"None. All payment gateways in some manner or the other are regulated by the financial regulator, either directly or…"},{"t":"Is it true that central banks are privately owned?","u":"is-it-true-that-central-banks-are-privately-owned","c":"Central Banks and Bank Supervision","s":["Central Banks","Banking Economics"],"p":[],"d":"2016-01-10","x":"No, that is not true. Almost all of them are owned by the government, some operate autonomously others semi…"},{"t":"How can payments be processed between banks in an app, similar to Visa, using ACH or another network?","u":"how-can-payments-be-processed-between-banks-in-an-app-similar-to-visa-using-ach-or-another-network","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Payment Interoperability"],"p":[],"d":"2016-01-09","x":"If you have access to interbank networks (ATMs) then you could ride on those rails and do the same, but it would mean…"},{"t":"Would a credit receipt appear on a monthly bank statement?","u":"would-a-credit-receipt-appear-on-a-monthly-bank-statement","c":"How Banks Work","s":["Bank Statements","Banks"],"p":[],"d":"2016-01-09","x":"Yes. If the debit/credit is related to your account, by law it will show up on your bank statement."},{"t":"How long does a wire transfer through Wells Fargo usually take?","u":"how-long-does-a-wire-transfer-through-wells-fargo-usually-take","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Wire Transfers","Payment Clearing"],"p":[],"d":"2016-01-09","x":"Typically 2 days. Depends on your bank if they hold on to the wire for a day or two."},{"t":"What are some strong examples of digital-only banks?","u":"what-are-some-strong-examples-of-digital-only-banks","c":"Digital Banks, Neobanks and Mobile Banking","s":["Digital Banks","Neobanks"],"p":["Developed Markets","Europe"],"d":"2016-01-09","x":"Fidor Bank is on top of my list. (Germany: https://www.fidor.de/ \u0026amp; UK: https://www.fidorbank.uk/ ) Simple:…"},{"t":"Can international bank transfers take longer than five business days?","u":"can-international-bank-transfers-take-longer-than-five-business-days","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Wire Transfer Delays and Tracing"],"p":[],"d":"2016-01-09","x":"Usually no. Bank transfers are usually done between 1-to-3 days (depending if there is a weekend in between, and the…"},{"t":"What types of locations typically cash Western Union money orders?","u":"what-types-of-locations-typically-cash-western-union-money-orders","c":"Money Transfer Business and MTOs","s":["Western Union","Money Transfer Operators (MTO)"],"p":[],"d":"2016-01-09","x":"All Western Union Agents can cash it for you."},{"t":"How much does it cost to mint a 1p coin?","u":"how-much-does-it-cost-to-mint-a-1p-coin","c":"General Finance Questions","s":["General Finance Questions"],"p":["British Pound Sterling","United Kingdom"],"d":"2016-01-09","x":"2.41 cents. Source: The United States Mint · Coins \u0026amp; Medals For the British 1p coin, the figure is not revealed. See…"},{"t":"What is the Pakistan Remittance Initiative and what does it do?","u":"what-is-the-pakistan-remittance-initiative-and-what-does-it-do","c":"Regulators, Enforcement and Regulatory Change","s":["Cross-Border Payment Regulation","Regulation"],"p":["Pakistan","State Bank of Pakistan"],"d":"2016-01-08","x":"Pakistan Remittance Initiative or PRI for short, is a autonomous body for the promotion, policy and management of…"},{"t":"Besides the fixed transfer fee per transaction, what other revenue streams do MTOs and remittance agents have?","u":"besides-the-fixed-transfer-fee-per-transaction-what-other-revenue-streams-do-mtos-and-remittance-age","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","MTO Economics"],"p":[],"d":"2016-01-07","x":"FX gain. If the transaction involves currency conversion an MTO would most likely get a little action on the FX…"},{"t":"Online Payments: Why isn’t Airbnb licensed as a money transmitter?","u":"online-payments-why-isnt-airbnb-licensed-as-a-money-transmitter","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Unlicensed Money Transmission","Licensable Activities"],"p":[],"d":"2016-01-07","x":"In addition to the answer by Scott Feinberg one must also consider that AirBnB could be an agent of a Licensed Money…"},{"t":"In the U.S., do you have to include a tax ID (SSN or EIN) on an invoice?","u":"in-the-us-do-you-have-to-include-a-tax-id-ssn-or-ein-on-an-invoice","c":"Tax and Financial Reporting","s":["Tax","Taxation of Payments"],"p":["Americas","Developed Markets"],"d":"2016-01-07","x":"In addition to Garrick Saito \u0026#39;s answer, if you are an individual foreign contract, working from outside the US with a US…"},{"t":"Can a 14-year-old living in Pakistan get a Mastercard?","u":"can-a-14-year-old-living-in-pakistan-get-a-mastercard","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards","Expense Cards"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2016-01-07","x":"Yes you can. Go to UBL and open a First Minor Savings Account. You will need a guardian to go with you. Once the account…"},{"t":"Does a marketplace-style business need a money-transmitter license?","u":"does-a-marketplace-style-business-need-a-money-transmitter-license","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["Americas","Developed Markets"],"d":"2016-01-07","x":"In the US, yes, especially if you will be holding on to the funds (though you may not be touching the funds, but if you…"},{"t":"Does David Marcus regret leaving PayPal now that the company is going public?","u":"does-david-marcus-regret-leaving-paypal-now-that-the-company-is-going-public","c":"Careers, Jobs and Working in Finance","s":["Employment","People in Finance"],"p":[],"d":"2016-01-07","x":"Probably not. I\u0026#39;m pretty sure David Marcus knew that PayPal would be separating from Ebay. What is of more challenge to…"},{"t":"What is SEPA Direct Debit, and why is it considered challenging for e-commerce use?","u":"what-is-sepa-direct-debit-and-why-is-it-considered-challenging-for-e-commerce-use","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Payment User Experience"],"p":["EMEA","Europe"],"d":"2016-01-07","x":"The SEPA Direct Debit problem when it comes to e-commerce is all to do with this: Since most of Europe is on CHIP+PIN,…"},{"t":"What features should a payment app include if it combines chat, P2P transfers, and payments like Venmo?","u":"what-features-should-a-payment-app-include-if-it-combines-chat-p2p-transfers-and-payments-like-venmo","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Peer-to-Peer Payments"],"p":[],"d":"2016-01-07","x":"This is a very open-ended question. What markets will you be operating in to start with is an important element towards…"},{"t":"How did Visa and Mastercard significantly expand their margins starting around 2005?","u":"how-did-visa-and-mastercard-significantly-expand-their-margins-starting-around-2005","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Visa"],"p":[],"d":"2016-01-07","x":"Issuance. VISA \u0026amp; MasterCard have aggressively been working in both emerging and developing markets. You\u0026#39;d be…"},{"t":"Would widespread use of digital currency make the world a better place?","u":"would-widespread-use-of-digital-currency-make-the-world-a-better-place","c":"Emerging Markets and Financial Inclusion","s":["Financial Inclusion","Underbanked"],"p":["Africa","Emerging Markets"],"d":"2016-01-06","x":"Yes ! If you are referring to digital fiat money, that is already in play and it is improving lives (look at Kenya as…"},{"t":"How can I convert my U.S. dollars to Bitcoin and then invest in U.S. stocks from that balance—can this be done via a broker like Thinkorswim?","u":"how-can-i-convert-my-us-dollars-to-bitcoin-and-then-invest-in-us-stocks-from-that-balancecan-this-be","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto-to-Fiat Conversion"],"p":["Bitcoin","United States"],"d":"2016-01-06","x":"Not sure (at present) if you can use Bitcoin as a direct payment instrument for investing in US stocks. No…"},{"t":"How can someone obtain a Wells Fargo debit card?","u":"how-can-someone-obtain-a-wells-fargo-debit-card","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards"],"p":[],"d":"2016-01-06","x":"Open a Wells-Fargo checking account and one would be provided to you with the account."},{"t":"What is required to safely store other people’s money?","u":"what-is-required-to-safely-store-other-peoples-money","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Transmitter Licenses (MTL)"],"p":[],"d":"2016-01-06","x":"The legal depository for money is banks and will always be banks. As a money transmitter you\u0026#39;re allowed to touch the…"},{"t":"Do developing countries gain from free trade, and why or why not?","u":"do-developing-countries-gain-from-free-trade-and-why-or-why-not","c":"Economics, Inflation and Monetary Policy","s":["Macroeconomics","Policy"],"p":[],"d":"2016-01-05","x":"Usually no. The immediate onslaught of imports puts a lot of pressure on the balance of payments and creates a deficit.…"},{"t":"How long will it take before Bitcoin could make banks and traditional money obsolete, if ever?","u":"how-long-will-it-take-before-bitcoin-could-make-banks-and-traditional-money-obsolete-if-ever","c":"General Finance Questions","s":["General Finance Questions"],"p":["Bitcoin"],"d":"2016-01-05","x":"Probably Never. It\u0026#39;d would be a miracle indeed if a protocol displaces Banks \u0026amp; Money. Just FYI, the first ever app…"},{"t":"Who is not required to file income taxes in the United States?","u":"who-is-not-required-to-file-income-taxes-in-the-united-states","c":"Tax and Financial Reporting","s":["Tax","International Tax"],"p":["Americas","Developed Markets"],"d":"2016-01-05","x":"Who is not required to file income taxes in the United States?"},{"t":"In what ways are currency-exchange bureaus used for money laundering?","u":"in-what-ways-are-currency-exchange-bureaus-used-for-money-laundering","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":[],"d":"2016-01-05","x":"Not all currency exchanges / stores are used for money laundering. The key item in cash/currency based money laundering…"},{"t":"Why does it take several business days to move money electronically between two U.S. banks?","u":"why-does-it-take-several-business-days-to-move-money-electronically-between-two-us-banks","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Payment Clearing"],"p":["Americas","Developed Markets"],"d":"2016-01-05","x":"tl;dr: the US doesn\u0026#39;t have a real-time RTGS / Payment Switch to which all banks are connected to. Hence, there is a…"},{"t":"I’ve used my credit card at stores like Target and Walgreens—what is the best way to ensure they remove my card number so it’s not exposed in a data breach?","u":"ive-used-my-credit-card-at-stores-like-target-and-walgreenswhat-is-the-best-way-to-ensure-they-remov","c":"Cybersecurity, Digital Identity and Authentication","s":["Data Security","Data Breaches"],"p":[],"d":"2016-01-05","x":"You don\u0026#39;t have any defense. Barring a legal notice and then pursuing that all your data is removed from their system…"},{"t":"Does fractional-reserve banking primarily benefit banks, citizens, or both?","u":"does-fractional-reserve-banking-primarily-benefit-banks-citizens-or-both","c":"Economics, Inflation and Monetary Policy","s":["Financial Theory","Money Creation"],"p":[],"d":"2016-01-05","x":"In the classical sense it is benefiting both, the bank and the individual. However, on the flip side, it just keeps on…"},{"t":"What is the fastest way to receive salary payments from a U.S. employer into Pakistan?","u":"what-is-the-fastest-way-to-receive-salary-payments-from-a-us-employer-into-pakistan","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Receiving Money from Abroad (Consumer)"],"p":["Asia","Indian Subcontinent"],"d":"2016-01-05","x":"I would have to say the Payoneer card. If your employer can push out an ACH payment, you can opt-in for US Payments…"},{"t":"How do banks settle international payments internally?","u":"how-do-banks-settle-international-payments-internally","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":[],"d":"2016-01-05","x":"Banks settle payment with each other based on shared ledgers. This could be a direct relationship or assisted via the…"},{"t":"Could companies that dominate payments one day rival central banks in importance?","u":"could-companies-that-dominate-payments-one-day-rival-central-banks-in-importance","c":"Central Banks and Bank Supervision","s":["Banking Economics","Central Banks"],"p":[],"d":"2016-01-04","x":"Comparing Apples to Oranges. Central banks don\u0026#39;t do payments per se. They are regulators. They regulate the financial…"},{"t":"Legally speaking, is Bitcoin treated more as a currency or as a payment protocol?","u":"legally-speaking-is-bitcoin-treated-more-as-a-currency-or-as-a-payment-protocol","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Law","Legal Opinions"],"p":["Bitcoin"],"d":"2016-01-04","x":"Before I give my answer, don\u0026#39;t be confused by the name. First and foremost, Bitcoin by itself is a protocol . It just…"},{"t":"Why are some Square and PayPal transactions described as “offline” even though authorization occurs online?","u":"why-are-some-square-and-paypal-transactions-described-as-offline-even-though-authorization-occurs-on","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2016-01-03","x":"If I were to fathom a guess, all CP (Card Present) transactions are designated as off-line transactions. Online…"},{"t":"Does Russia have a central bank comparable to those in the U.K. and U.S.?","u":"does-russia-have-a-central-bank-comparable-to-those-in-the-uk-and-us","c":"Central Banks and Bank Supervision","s":["Central Banks","Banking Economics"],"p":["CIS Countries","Europe (Non-EU)"],"d":"2016-01-03","x":"Yes, its called the Central Bank of the Russian Federation (or Bank of Russia for short). Official Website: Bank of…"},{"t":"What is the best way to move large amounts of fully declared (“white”) money between countries without being taxed twice?","u":"what-is-the-best-way-to-move-large-amounts-of-fully-declared-white-money-between-countries-without-b","c":"Tax and Financial Reporting","s":["International Tax","Tax on Remittances"],"p":[],"d":"2016-01-02","x":"Legally if both countries slap a tax, then it becomes very hard to do so. You would have to go out of your way to find…"},{"t":"What does the shutdown of Mt. Gox imply for Bitcoin’s long-term prospects?","u":"what-does-the-shutdown-of-mt-gox-imply-for-bitcoins-long-term-prospects","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchange Failures","Crypto Exchanges"],"p":["Bitcoin"],"d":"2016-01-02","x":"I\u0026#39;m not an expert to answer that. A lot of people at the moment don\u0026#39;t even know what\u0026#39;s going on at Mt.Gox and about the…"},{"t":"Are there genuinely legitimate ways to earn money from home?","u":"are-there-genuinely-legitimate-ways-to-earn-money-from-home","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Earning Money Online","Income Streams"],"p":[],"d":"2016-01-02","x":"Some great answers here. There are many ways to make money from home. Have a look at oDesk, Elance and Fiverr and see…"},{"t":"What is the legal and technical structure behind Coinbase’s exchange platform?","u":"what-is-the-legal-and-technical-structure-behind-coinbases-exchange-platform","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Bitcoin","North America"],"d":"2016-01-02","x":"Joseph Wang is correct. Coinbase is a Bitcoin retailer. Currently, there isn\u0026#39;t a Bitcoin exchange in the US. The only…"},{"t":"What might happen if we chose a specific date after which the U.S. dollar would no longer be used?","u":"what-might-happen-if-we-chose-a-specific-date-after-which-the-us-dollar-would-no-longer-be-used","c":"Geopolitics of Money and the International Monetary System","s":["Monetary Systems","De-Dollarization"],"p":["United States","United States Dollar"],"d":"2016-01-02","x":"Massive conversions out of the currency. Pennies for your Dollars! (provided you can find a Buyer). Realistic approach.…"},{"t":"Why might a company demand a bank wire instead of an ACH transfer for large payments?","u":"why-might-a-company-demand-a-bank-wire-instead-of-an-ach-transfer-for-large-payments","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Wire Transfers","Payment Infrastructure"],"p":["Americas","Developed Markets"],"d":"2016-01-02","x":"In the US context, the Bank Wire would be settled via FedWire (RTGS) same day usually within the hour, ACH will take 3…"},{"t":"Are there fintech incubators similar to the FinTech Innovation Lab?","u":"are-there-fintech-incubators-similar-to-the-fintech-innovation-lab","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance","Starting a Fintech or Payments Company"],"p":[],"d":"2016-01-02","x":"Quite a few of them, see my curated list. List of FinTech Incubators \u0026amp; Accelerators Worldwide"},{"t":"Which fintech accelerator programs exist, how much seed funding do they provide, and what equity percentage do they typically take?","u":"which-fintech-accelerator-programs-exist-how-much-seed-funding-do-they-provide-and-what-equity-perce","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance","Starting a Fintech or Payments Company"],"p":[],"d":"2016-01-02","x":"I maintain a curated list (see link below). If you know of any other incubators, please add it in the comments section…"},{"t":"Is Dwolla considered a cryptocurrency?","u":"is-dwolla-considered-a-cryptocurrency","c":"Bitcoin and Cryptocurrency Basics","s":["Cryptocurrency Basics","Crypto Terminology"],"p":[],"d":"2016-01-01","x":"Nope. Dwolla is not a currency. It is simply an improved payment method."},{"t":"What is the cheapest way to send $1,000–$3,000 from the U.S. to a Mexican bank account?","u":"what-is-the-cheapest-way-to-send-10003000-from-the-us-to-a-mexican-bank-account","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Americas","Mexico"],"d":"2016-01-01","x":"Have a look at Sigue (See: Home ) they offer pretty decent rates and US-Mexico is their speciality."},{"t":"For banks like Simple and Moven, who is the legal bank of record for the customer, and who stores the transaction data?","u":"for-banks-like-simple-and-moven-who-is-the-legal-bank-of-record-for-the-customer-and-who-stores-the","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Industry","Banking-as-a-Service (BaaS)"],"p":[],"d":"2016-01-01","x":"Great insight Brett. Thanks for answering."},{"t":"What strategies are most effective for helping unbanked people in the U.S. become fully banked?","u":"what-strategies-are-most-effective-for-helping-unbanked-people-in-the-us-become-fully-banked","c":"Emerging Markets and Financial Inclusion","s":["Financial Inclusion","Unbanked"],"p":["Americas","Developed Markets"],"d":"2016-01-01","x":"This is a question that is debated in conference rooms to conferences all around the world. Be it the US or a developing…"},{"t":"When and how might technology companies disrupt consumer banking?","u":"when-and-how-might-technology-companies-disrupt-consumer-banking","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Insights","Business Insights"],"p":["Kenya","Russia"],"d":"2016-01-01","x":"Kind of difficult to stress the point, technology is just an enabler . In most of the conferences on banking and…"},{"t":"Which U.S. law requires online brokerages to perform KYC and AML checks on both new and existing clients?","u":"which-us-law-requires-online-brokerages-to-perform-kyc-and-aml-checks-on-both-new-and-existing-clien","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","Know Your Customer (KYC)"],"p":["United States"],"d":"2016-01-01","x":"Here is the list: Bank Secrecy Act of 1970 Money Laundering Control Act of 1986 Annunzio-Wylie Anti-Money Laundering Act…"},{"t":"What are the best books for learning about anti–money laundering?","u":"what-are-the-best-books-for-learning-about-antimoney-laundering","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Program"],"p":["Americas","North America"],"d":"2016-01-01","x":"Protivity\u0026#39;s Guide to US Anti-Money Laundering Requirements is a solid 370 page read. You can download it from here:…"},{"t":"Can Bitcoin be outlawed or regulated in the U.S., and by what mechanisms?","u":"can-bitcoin-be-outlawed-or-regulated-in-the-us-and-by-what-mechanisms","c":"Crypto and VASP Licensing","s":["Crypto Regulation","Crypto Licensing"],"p":["Americas","Bitcoin"],"d":"2016-01-01","x":"Can they made illegal sure? Will they be, not likely. Most US States will issue you a money transmitter license based on…"},{"t":"What laws and regulations apply to Bitcoin businesses operating in the United States?","u":"what-laws-and-regulations-apply-to-bitcoin-businesses-operating-in-the-united-states","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":["Americas","Bitcoin"],"d":"2016-01-01","x":"Terrence Yang provides a pretty detailed answer. Here are some of the laws I would like to add to Terrence\u0026#39;s answer. Our…"},{"t":"How would a country design and implement its own banking system?","u":"how-would-a-country-design-and-implement-its-own-banking-system","c":"Central Banks and Bank Supervision","s":["Central Banks","Banking Economics"],"p":["Africa","Eastern Caribbean Currency Union (ECCU)"],"d":"2016-01-01","x":"In recent years when new countries emerged, the first and foremost tasks is to setup a monetary authority: a central (or…"},{"t":"How would I go about establishing a new offshore bank?","u":"how-would-i-go-about-establishing-a-new-offshore-bank","c":"Licensing in Other Countries","s":["Offshore Licensing Jurisdictions","Licensing Comparison by Country"],"p":["Oceania"],"d":"2016-01-01","x":"It depends which country you would choose to setup an off-shore bank. The main requirements would be to obtain a banking…"},{"t":"Where can I find a complete U.S. guide to anti–money laundering compliance?","u":"where-can-i-find-a-complete-us-guide-to-antimoney-laundering-compliance","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Compliance Manuals"],"p":["Americas","North America"],"d":"2016-01-01","x":"Protivity has a really good document that explains the US aspects of anti-money laundering. It is a 370 page document…"},{"t":"What are some Bitcoin exchanges, how trustworthy are they, and what is the outlook for Bitcoin exchanges?","u":"what-are-some-bitcoin-exchanges-how-trustworthy-are-they-and-what-is-the-outlook-for-bitcoin-exchang","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Bitcoin"],"d":"2016-01-01","x":"I\u0026#39;m maintaining a list here. There is a difference between Exchanges and Bitcoin brokers. List of Bitcoin Exchanges"},{"t":"What features and modules are typically included in banking software?","u":"what-features-and-modules-are-typically-included-in-banking-software","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2015-12-12","x":"This is not an easy question to answer. Banks literally take months to evaluate core banking software. There are…"},{"t":"Has anyone invented a wireless power supply system?","u":"has-anyone-invented-a-wireless-power-supply-system","c":"General Finance Questions","s":["General"],"p":[],"d":"2015-12-12","x":"Well, close. Search for inductive charring and you have the ability to charge cellphones and other gadgets wirelessly.…"},{"t":"What are best practices for implementing KYC and sanctions-screening software?","u":"what-are-best-practices-for-implementing-kyc-and-sanctions-screening-software","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","Compliance Software"],"p":[],"d":"2015-12-12","x":"Your best bet is to look at companies like IDology, Jumio, IDChecker, Identity Mind, etc. They provide all the necessary…"},{"t":"How can I grow and expand my currency collection?","u":"how-can-i-grow-and-expand-my-currency-collection","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2015-12-12","x":"If you\u0026#39;re collecting, then there are 100s of dealers all around the world, who would work with you. In the US alone,…"},{"t":"How can a failed state’s currency remain in circulation for decades, such as Somalia’s?","u":"how-can-a-failed-states-currency-remain-in-circulation-for-decades-such-as-somalias","c":"Economics, Inflation and Monetary Policy","s":["Currency","Macroeconomics"],"p":["Africa","East Africa"],"d":"2015-12-12","x":"Just because a country is labelled a failed state does not mean its economic activities ceases to exist. Its currency…"},{"t":"How often do ATMs make errors when accepting deposits or dispensing cash?","u":"how-often-do-atms-make-errors-when-accepting-deposits-or-dispensing-cash","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2015-12-12","x":"Receiving is subjected to physical review, unless the machine is a RCDM. The machines are highly robust. Most of the…"},{"t":"Do you regret not buying large amounts of Bitcoin when it was $7?","u":"do-you-regret-not-buying-large-amounts-of-bitcoin-when-it-was-7","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Speculation","Crypto Trading"],"p":["Bitcoin","United States Dollar"],"d":"2015-12-12","x":"I think in hindsight anyone who wanted to (or still wants to) make money of bitcoins, the answer would unequivocally be…"},{"t":"What are the most innovative banking services available today?","u":"what-are-the-most-innovative-banking-services-available-today","c":"Business Strategy, Case Studies and Lessons Learned","s":["Customer Experience in Finance","Business Models"],"p":[],"d":"2015-12-12","x":"Making the bank branch stick. Umpqua Bank and their store concept (inspired by Apple Stores). CNN did a brief coverage…"},{"t":"How can an e-commerce website become a third-party payment processor or aggregator, and which parties and requirements are involved?","u":"how-can-an-e-commerce-website-become-a-third-party-payment-processor-or-aggregator-and-which-parties","c":"Starting and Running a Fintech or Payments Business","s":["Payments Business Models","Starting a Fintech or Payments Company"],"p":["United States"],"d":"2015-12-12","x":"General Application In order to get setup as a Payment Facilitator it is similar to applying for a regular Internet…"},{"t":"How are the SWIFT and Visa networks linked, and does Visa use SWIFT for bulk transaction messaging?","u":"how-are-the-swift-and-visa-networks-linked-and-does-visa-use-swift-for-bulk-transaction-messaging","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2015-12-11","x":"To the best of my knowledge the two networks are not connected. SWIFT uses various communication providers to connect…"},{"t":"How can I build a robust marketplace payments setup like Airbnb’s?","u":"how-can-i-build-a-robust-marketplace-payments-setup-like-airbnbs","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Platform Payments"],"p":[],"d":"2015-12-10","x":"Have you looked at the likes of Stripe and Wepay? they might support checks. If not, you can always look around for a…"},{"t":"Where can I find historical USD to PKR exchange rates going back to 1947?","u":"where-can-i-find-historical-usd-to-pkr-exchange-rates-going-back-to-1947","c":"FX Rates, Spreads and Currency Markets","s":["Exchange Rates","Currency Exchange"],"p":["Pakistan","Pakistani Rupee"],"d":"2015-12-08","x":"Here you go... Each row is the year, starting from 1948 Source: Page on sauder.ubc.ca"},{"t":"What can be done to significantly increase remittance inflows into Pakistan?","u":"what-can-be-done-to-significantly-increase-remittance-inflows-into-pakistan","c":"Payment Corridors and Remittance Economics","s":["Remittance Economics","Remittance Corridors"],"p":["Asia","Indian Subcontinent"],"d":"2015-12-08","x":"Remittances for Pakistan represent a life line. 100,000s of diaspora send money every month to Pakistan, which this year…"},{"t":"What is one killer use case for Bitcoin that actually exists in 2014?","u":"what-is-one-killer-use-case-for-bitcoin-that-actually-exists-in-2014","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Bitcoin","India"],"d":"2015-12-06","x":"Sending relatively small value payments across the world was not possible without paying unbelievably huge transfer…"},{"t":"How can I obtain a Mastercard if I live in a country without PayPal or direct Mastercard support?","u":"how-can-i-obtain-a-mastercard-if-i-live-in-a-country-without-paypal-or-direct-mastercard-support","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Prepaid Cards"],"p":["Restricted Jurisdictions"],"d":"2015-12-06","x":"Opt for a service which does provide you one, see Malta based Lamda Card Service ( Page on lamdagroup.com ) [No…"},{"t":"Who was Xoom’s biggest competitor in 2014?","u":"who-was-xooms-biggest-competitor-in-2014","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Legacy MTOs"],"p":[],"d":"2015-12-05","x":"Western Union and native incumbent MTOs operating in fixed remittance corridors that are offering real-time funds…"},{"t":"Which provider offers the best API for sending payments programmatically to international users?","u":"which-provider-offers-the-best-api-for-sending-payments-programmatically-to-international-users","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Payment Integration"],"p":[],"d":"2015-12-05","x":"Look at providers such as Earthport, Tipalti, TheCurrencyCloud, etc. They provide APIs for payouts."},{"t":"Which currency pair is considered the hardest to trade in the forex market?","u":"which-currency-pair-is-considered-the-hardest-to-trade-in-the-forex-market","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Currency Pairs"],"p":["Iran","Iranian Rial"],"d":"2015-12-04","x":"Which currency pair is considered the hardest to trade in the forex market?"},{"t":"Which mobile payment services are currently popular, and what makes them successful?","u":"which-mobile-payment-services-are-currently-popular-and-what-makes-them-successful","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Digital Wallets"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-12-04","x":"WeChat - hands-down one of the hottest mobile payment services. Its a wallet. 355 Million active users as of end March…"},{"t":"What standout or impressive features have you seen in mobile banking apps?","u":"what-standout-or-impressive-features-have-you-seen-in-mobile-banking-apps","c":"Digital Banks, Neobanks and Mobile Banking","s":["Digital Banks"],"p":[],"d":"2015-12-04","x":"A couple of points come to mind: Agnostic. Add any bank card, debit card, credit card, bank account, loyalty card, etc.…"},{"t":"How likely is it that a newer, smarter version of ACH will be created to update or replace the current 1960s-era ACH system?","u":"how-likely-is-it-that-a-newer-smarter-version-of-ach-will-be-created-to-update-or-replace-the-curren","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2015-12-02","x":"The incentive to make a new faster ACH (ACH) just doesn\u0026#39;t lie there. $36 Trillion processed through ACH in 2012 (I may…"},{"t":"How would you feel if you didn’t receive a printed receipt when paying in person with a credit or debit card?","u":"how-would-you-feel-if-you-didnt-receive-a-printed-receipt-when-paying-in-person-with-a-credit-or-deb","c":"Payments (General)","s":["Payment Products","Over-the-Counter Payments"],"p":[],"d":"2015-12-02","x":"I would not have an issue with not have a receipt all together for small transactions (lets say anything under $10). $10…"},{"t":"How advanced or “intelligent” are ATMs in terms of what they can do and decide?","u":"how-advanced-or-intelligent-are-atms-in-terms-of-what-they-can-do-and-decide","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2015-12-02","x":"ATMs are extremely dumb machines. They are programmed to do very specific functions. Nothing outside the functions…"},{"t":"How exactly do remittance companies and money changers operate and make money?","u":"how-exactly-do-remittance-companies-and-money-changers-operate-and-make-money","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Remittance Agents"],"p":["Philippine Peso","Philippines"],"d":"2015-12-02","x":"To answer your question (citing your example): In a pre-funded model, the Sending Agent would pre-fund in their native…"},{"t":"What are effective ways to exchange between different cryptocurrencies?","u":"what-are-effective-ways-to-exchange-between-different-cryptocurrencies","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Bitcoin","United States Dollar"],"d":"2015-12-01","x":"There are two ways to do it: Do the exchange with someone. For example if you have Bitcoins and I have LiteCoins, we…"},{"t":"Debit Cards: Are there any real-time tools that convert traditional bank details into SEPA IBAN and BIC format?","u":"debit-cards-are-there-any-real-time-tools-that-convert-traditional-bank-details-into-sepa-iban-and-b","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":["EMEA","Europe"],"d":"2015-12-01","x":"For IBAN, No. As that information is separately generated by each Bank for each of their account holder. There isn\u0026#39;t a…"},{"t":"Does Virgin Money accept Bitcoin as a payment method?","u":"does-virgin-money-accept-bitcoin-as-a-payment-method","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Banking"],"p":["Bitcoin"],"d":"2015-12-01","x":"As of 25th January 2014, No. They do not accept Bitcoins."},{"t":"All else equal, is a cryptocurrency with faster confirmation times more or less secure against 51% attacks than one with slower confirmations?","u":"all-else-equal-is-a-cryptocurrency-with-faster-confirmation-times-more-or-less-secure-against-51-att","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Blockchain Technology"],"p":[],"d":"2015-12-01","x":"Ripple. ( The World\u0026#39;s Open Payment System ) 51% Problem: FAQ - Ripple Wiki Transaction Confirmation Time: FAQ - Ripple…"},{"t":"Is Facebook likely to become a bank in the future?","u":"is-facebook-likely-to-become-a-bank-in-the-future","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Industry","Fintech Business Models"],"p":[],"d":"2015-12-01","x":"No. Facebook in reality would never become a bank. There is just too much money, traction and domain knowledge required…"},{"t":"What is the largest company to have recently accepted a virtual currency (around January 2014)?","u":"what-is-the-largest-company-to-have-recently-accepted-a-virtual-currency-around-january-2014","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2015-12-01","x":"Overstock.com - which now accepts Bitcoins. The Grand Experiment Goes Live: Overstock.com Is Now Accepting Bitcoins |…"},{"t":"Are most payments from non-U.S. institutions to U.S. individuals made via wire transfer?","u":"are-most-payments-from-non-us-institutions-to-us-individuals-made-via-wire-transfer","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Receiving Money from Abroad (Consumer)"],"p":[],"d":"2015-12-01","x":"If an Non-American institution is making money to American citizens, it would most likely be direct deposits, wire…"},{"t":"If I have a Scotiabank account in one country, can I access and use it from another country?","u":"if-i-have-a-scotiabank-account-in-one-country-can-i-access-and-use-it-from-another-country","c":"Digital Banks, Neobanks and Mobile Banking","s":["Digital Banks"],"p":["China","Restricted Jurisdictions"],"d":"2015-12-01","x":"If they have Internet Banking and will allow you to access from outside Country X, and will not block an IP from China…"},{"t":"For a new mobile money network, which model is better—Visa-like or PayPal-like architecture?","u":"for-a-new-mobile-money-network-which-model-is-bettervisa-like-or-paypal-like-architecture","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Money","Mobile Payments"],"p":["Pakistan"],"d":"2015-11-11","x":"This is a great question! The school of thought on which avenue to pursue, is divided. Whilst attending the recent…"},{"t":"What are some of the best ways to turn $50,000 into $1,000,000 within 12 months or less?","u":"what-are-some-of-the-best-ways-to-turn-50000-into-1000000-within-12-months-or-less","c":"High-Risk Industries","s":["Gambling Payments","High-Risk Verticals"],"p":["MENA (Middle East and North Africa)","Middle East"],"d":"2015-11-10","x":"I agree with Mark Savchuk - Lotto is your best chance, however, not just any lotto, I would recommend that Dubai Duty…"},{"t":"What is an international subsidiary?","u":"what-is-an-international-subsidiary","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Legal Structures","Company Formation"],"p":[],"d":"2015-11-10","x":"Various meaning to this, but essentially, any entity that it in a different geographical territory (read: country) and…"},{"t":"Is there a payment provider in the U.S. that lets us launch our own white-label mobile wallet?","u":"is-there-a-payment-provider-in-the-us-that-lets-us-launch-our-own-white-label-mobile-wallet","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Digital Wallets"],"p":["Americas","Developed Markets"],"d":"2015-11-06","x":"Euronet, Luup, Monetise, etc. Quite a few. The problem is none of them will give your regulatory coverage on it. The…"},{"t":"How do large banks physically and digitally secure their cash holdings?","u":"how-do-large-banks-physically-and-digitally-secure-their-cash-holdings","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2015-11-06","x":"Needless to say the Banks have very secure and sophisticated vaults. Banks also keep in mind how much cash they would…"},{"t":"How would you explain money laundering in simple layman’s terms?","u":"how-would-you-explain-money-laundering-in-simple-laymans-terms","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":[],"d":"2015-11-06","x":"tl;dr: Moving Undocumented Money. Money Laundering has many definitions. Not all the countries agree on a standard…"},{"t":"Does something like a “financial prodigy” actually exist?","u":"does-something-like-a-financial-prodigy-actually-exist","c":"General Finance Questions","s":["General Finance Questions","General"],"p":[],"d":"2015-11-06","x":"No. Not really. You do have people who have been giving the title of an Oracle (think Warren Buffet) but to the best of…"},{"t":"What do your friends personally think about Bitcoin?","u":"what-do-your-friends-personally-think-about-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2015-11-06","x":"I would say, personally for me, I would divide this into three categories: Friends who are cognizant of Bitcoin and how…"},{"t":"How do banks connect into and communicate over the SWIFT network?","u":"how-do-banks-connect-into-and-communicate-over-the-swift-network","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2015-11-05","x":"SWIFT Terminal. SWIFT provides a dedicated VPN\u0026#39;d circuit for Banks to connect to the SWIFT network."},{"t":"Ben Milne: How does Dwolla FiSync handle settlement of payments between banks?","u":"ben-milne-how-does-dwolla-fisync-handle-settlement-of-payments-between-banks","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Real-Time Gross Settlement (RTGS)"],"p":[],"d":"2015-11-05","x":"Dwolla\u0026#39;s FiSync is an RTGS solution essentially. All members settle with the settlement bank (at least once a day if not…"},{"t":"Is there such a thing as international banking law?","u":"is-there-such-a-thing-as-international-banking-law","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Law","Financial Services Law"],"p":[],"d":"2015-11-05","x":"Letter of Credit (L/C) is perhaps the only banking law that is international. Though it does take a few changes here and…"},{"t":"Will fintech startups eventually seriously challenge or displace bulge-bracket banks?","u":"will-fintech-startups-eventually-seriously-challenge-or-displace-bulge-bracket-banks","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Industry","Fintech Startups"],"p":[],"d":"2015-11-05","x":"Any FinTech you look at, would probably take 10-15 years to become a decent size to be able to compete on a national or…"},{"t":"Who controls or owns the largest amount of bitcoins?","u":"who-controls-or-owns-the-largest-amount-of-bitcoins","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Crypto Wallets"],"p":["Bitcoin"],"d":"2015-11-05","x":"Hard to say now, but to give you some form of semblance, here are the list of the richest bitcoin wallets: Source:…"},{"t":"On average, how much does each individual customer cost a bank to serve?","u":"on-average-how-much-does-each-individual-customer-cost-a-bank-to-serve","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":["Hong Kong","Mali"],"d":"2015-11-05","x":"This is a very complex question with no easy answer. Vendors/solution providers provide varying discounts in each…"},{"t":"On average, how long does it take to move money between two different countries?","u":"on-average-how-long-does-it-take-to-move-money-between-two-different-countries","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2015-11-04","x":"All this can depend. It can take a few minutes, to a few days. The answer lies as to how the transfer has been setup.…"},{"t":"If you held a U.S. money-transmitter license and wanted to use Bitcoin, what international money-transfer business models could you build?","u":"if-you-held-a-us-money-transmitter-license-and-wanted-to-use-bitcoin-what-international-money-transf","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Starting a Remittance Business"],"p":["Bitcoin","United States"],"d":"2015-11-01","x":"The possibility is still singular when you talk of international money transfers: money transfers itself. If one is…"},{"t":"If a single bitcoin is very expensive, how can Bitcoin still support microtransactions?","u":"if-a-single-bitcoin-is-very-expensive-how-can-bitcoin-still-support-microtransactions","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin","United States Dollar"],"d":"2015-11-01","x":"Because Bitcoin is highly divisible, unlike your traditional currencies or credit card systems, which can only pay you…"},{"t":"Why doesn’t PayPal let users change the country associated with their account?","u":"why-doesnt-paypal-let-users-change-the-country-associated-with-their-account","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":[],"d":"2015-11-01","x":"Just like Banks don\u0026#39;t allow you to switch countries. You are always required to open a new account. Different Country.…"},{"t":"How much capital would be needed to start a bank in Pakistan?","u":"how-much-capital-would-be-needed-to-start-a-bank-in-pakistan","c":"Central Banks and Bank Supervision","s":["Bank Capital","Banking Economics"],"p":["Emerging Market Licensing","Pakistan"],"d":"2015-11-01","x":"The MCR (Minimum Capital Requirement) for opening/running a Bank in Pakistan at the moment, as outlined by State Bank of…"},{"t":"How can Ripple or other digital currencies like Bitcoin and Litecoin help the underbanked or emerging middle class?","u":"how-can-ripple-or-other-digital-currencies-like-bitcoin-and-litecoin-help-the-underbanked-or-emergin","c":"Emerging Markets and Financial Inclusion","s":["Crypto Adoption in Emerging Markets","Financial Inclusion"],"p":["Africa","Bitcoin"],"d":"2015-11-01","x":"There is a significant difference in the definition of Emerging Middle Class . If you look at South Asia, South East…"},{"t":"Should the Bank of the United States be reinstated, and why or why not?","u":"should-the-bank-of-the-united-states-be-reinstated-and-why-or-why-not","c":"Economics, Inflation and Monetary Policy","s":["Macroeconomics","Policy"],"p":["United States"],"d":"2015-10-12","x":"Asking is the same to do away with fractional reserve banking. One immense problem with the fractional reserve banking…"},{"t":"What are the demographics of Western Union users sending money from the U.S. to Asia, and is the experience smooth or painful for senders and recipients?","u":"what-are-the-demographics-of-western-union-users-sending-money-from-the-us-to-asia-and-is-the-experi","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-10-12","x":"The bulk of US transactions is worker\u0026#39;s remittances (or home remittances). Money sent back home for family maintenance.…"},{"t":"Why do bankers tend to prioritize serving larger companies over smaller ones?","u":"why-do-bankers-tend-to-prioritize-serving-larger-companies-over-smaller-ones","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":["United States Dollar"],"d":"2015-10-11","x":"Its all about deposits. The money that large companies place as deposits is worth its weight in gold for many bankers.…"},{"t":"Money Laundering: How can I receive large deposits into my bank account while complying with source-of-funds checks and regulations?","u":"money-laundering-how-can-i-receive-large-deposits-into-my-bank-account-while-complying-with-source-o","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Policies and Procedures"],"p":["United States Dollar"],"d":"2015-10-11","x":"The answer varies, but most likely it leans towards a \u0026#34;No\u0026#34;. Your answer can depend on a lot of information that we don\u0026#39;t…"},{"t":"Is data security a bank’s biggest cost center, and if not, what usually is?","u":"is-data-security-a-banks-biggest-cost-center-and-if-not-what-usually-is","c":"Cybersecurity, Digital Identity and Authentication","s":["Data Security","Cybersecurity"],"p":[],"d":"2015-10-11","x":"Data security surely is an expense. It comes in many shapes and forms. It is a category under the overall Risk \u0026amp;…"},{"t":"Why is the payments ecosystem so complicated?","u":"why-is-the-payments-ecosystem-so-complicated","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":["Australia","Europe"],"d":"2015-10-10","x":"Great Question! There are so many elements. Before I delve into the answer, I do want to cite. Payments is not that…"},{"t":"What is a good bank to open an account with in Australia?","u":"what-is-a-good-bank-to-open-an-account-with-in-australia","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening"],"p":["Asia-Pacific (APAC)","Australia"],"d":"2015-10-10","x":"Westac is pretty decent. http://www.westpac.com.au"},{"t":"What is David Marcus’s plan for payments across Facebook and Messenger?","u":"what-is-david-marcuss-plan-for-payments-across-facebook-and-messenger","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Digital Wallets"],"p":["Australia","Developed Markets"],"d":"2015-10-09","x":"Everyone has been asking around... \u0026#34; What\u0026#39;s David game plan? \u0026#34; needless to say, very few would actually be privy to it.…"},{"t":"Could Apple Pay become a threat to existing payment networks?","u":"could-apple-pay-become-a-threat-to-existing-payment-networks","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Digital Wallets"],"p":[],"d":"2015-10-09","x":"Difficult to fathom that happening, but then again, what may be foggy now, could be a clear-cut strategy to drive out…"},{"t":"Why do intra-Europe transfers using IBAN sometimes take so long?","u":"why-do-intra-europe-transfers-using-iban-sometimes-take-so-long","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Developed Markets","EMEA"],"d":"2015-10-09","x":"Not as trivial as it seems. There are 1000s of banks. All have agreed to a SEPA payments format, good! Now remember all…"},{"t":"Would Qiwi be treated as a money-transfer service under U.S. regulations?","u":"would-qiwi-be-treated-as-a-money-transfer-service-under-us-regulations","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":["Americas","North America"],"d":"2015-10-08","x":"This is classified as a Money Transmitter. The owner of the kiosks would either have to get money transmitter licenses…"},{"t":"Why are ATM cards standardized to a particular physical size?","u":"why-are-atm-cards-standardized-to-a-particular-physical-size","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Debit Cards"],"p":[],"d":"2015-10-08","x":"Whilst the standard is set globally via ISO/IEC 7810 - the origination of the card size stems from the visiting card and…"},{"t":"What is the best approach to launching a superior system that combines elements of M-Pesa and Alipay?","u":"what-is-the-best-approach-to-launching-a-superior-system-that-combines-elements-of-m-pesa-and-alipay","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Digital Wallets"],"p":[],"d":"2015-10-06","x":"Chances are your 100+ Million populated country already has a mobile wallet in play or one is about to roll out. Even if…"},{"t":"How can I get a co-branded prepaid Mastercard, Visa, or PayPal card for my virtual assistants that also promotes my website with my logo?","u":"how-can-i-get-a-co-branded-prepaid-mastercard-visa-or-paypal-card-for-my-virtual-assistants-that-als","c":"Card Networks and Card Issuing","s":["Card Issuing","Card Payouts"],"p":["Developed Markets","EMEA"],"d":"2015-10-06","x":"Not sure where your virtual assistants are, but from the US this is difficult (not impossible, just difficult). Many…"},{"t":"In the U.S., is the mobile payments market being driven more by retailers or by banks?","u":"in-the-us-is-the-mobile-payments-market-being-driven-more-by-retailers-or-by-banks","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":["Americas","Developed Markets"],"d":"2015-10-03","x":"I don\u0026#39;t think the banks are acting as catalysts in the mobile payments space in any manner. Even basic mobile based…"},{"t":"Are Ripple, Dogecoin, Bitcoin, and similar digital currencies all likely to succeed long term?","u":"are-ripple-dogecoin-bitcoin-and-similar-digital-currencies-all-likely-to-succeed-long-term","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2015-10-01","x":"As with all things Internet. I think we will see a similar example of how say Mail Clients are used or how Linux has…"},{"t":"Why do banks take time to move payments from one country to another?","u":"why-do-banks-take-time-to-move-payments-from-one-country-to-another","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Wire Transfer Delays and Tracing"],"p":[],"d":"2015-10-01","x":"Ram Pillai is on the dot! Mostly it is time-zones and the money moving through direct banks or correspondent banks which…"},{"t":"How can banks assist customers in cases of fraudulent debit transactions?","u":"how-can-banks-assist-customers-in-cases-of-fraudulent-debit-transactions","c":"Fraud and Scams","s":["Card Fraud","Fraud Victim Recourse"],"p":[],"d":"2015-09-12","x":"Depending on how the fraud was committed, a bank\u0026#39;s ability to help or not is gauged by how much they feel they were…"},{"t":"In multi-country travel, how are ports of embarkation and disembarkation determined?","u":"in-multi-country-travel-how-are-ports-of-embarkation-and-disembarkation-determined","c":"Payments (General)","s":["Traveler's Checks"],"p":[],"d":"2015-09-12","x":"Answer depends: For immigration form purposes, the port of embarkation is the city/country from which you started your…"},{"t":"Can Bitcoin be “printed” the way central banks create more paper currency?","u":"can-bitcoin-be-printed-the-way-central-banks-create-more-paper-currency","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2015-09-12","x":"From my understanding the answer would be No. Bitcoin is digital in nature, and its spending and the consensus of the…"},{"t":"If fiat currencies are backed by governments, what underpins Bitcoin’s value without a central authority?","u":"if-fiat-currencies-are-backed-by-governments-what-underpins-bitcoins-value-without-a-central-authori","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2015-09-12","x":"The general consensus. People are willing to price XBT (BTC) against various currencies. The smaller the group, the more…"},{"t":"With only one dollar, what realistic online business ideas could potentially grow it to $1,000 in three months?","u":"with-only-one-dollar-what-realistic-online-business-ideas-could-potentially-grow-it-to-1000-in-three","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Earning Money Online","Income Streams"],"p":["United States Dollar"],"d":"2015-09-11","x":"Garrick Saito wrote this answer a while back. Still very much applicable and doable. Garrick Saito\u0026#39;s answer to If you…"},{"t":"Why does Pakistan have relatively few mobile wallets despite high mobile penetration?","u":"why-does-pakistan-have-relatively-few-mobile-wallets-despite-high-mobile-penetration","c":"Emerging Markets and Financial Inclusion","s":["Financial Inclusion","Unbanked"],"p":["Asia","Emerging Markets"],"d":"2015-09-11","x":"Great question! To answer this, I suggest two reading materials as put out by Karandaaz Pakistan : Using Mobile Money to…"},{"t":"Will remittance fees ever realistically fall to zero?","u":"will-remittance-fees-ever-realistically-fall-to-zero","c":"Payment Corridors and Remittance Economics","s":["Remittance Economics","Remittance Pricing"],"p":[],"d":"2015-09-11","x":"Most likely not. It might level or bottom-out to a low price or even a flat-fee for some competitive remittance…"},{"t":"Why is financial inclusion still low in Pakistan?","u":"why-is-financial-inclusion-still-low-in-pakistan","c":"Emerging Markets and Financial Inclusion","s":["Financial Inclusion","Unbanked"],"p":["Pakistan","State Bank of Pakistan"],"d":"2015-09-11","x":"There are many factors that contribute to a low rate of financial inclusion in Pakistan. Our State Bank of Pakistan…"},{"t":"When tips are added to a card payment at a restaurant, how are they processed after the transaction?","u":"when-tips-are-added-to-a-card-payment-at-a-restaurant-how-are-they-processed-after-the-transaction","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2015-09-11","x":"They will process the authorization they got, and add the tip to it. What you are being presented with is usually an…"},{"t":"What regulations must be followed when starting a payments business that uses ACH?","u":"what-regulations-must-be-followed-when-starting-a-payments-business-that-uses-ach","c":"US Money Transmitter Licensing and MSB Registration","s":["US Licensing","Money Transmitter Licenses (MTL)"],"p":[],"d":"2015-09-11","x":"If you want to start a payments business, your first order of the day is to see if you would be regulated or not, i.e.…"},{"t":"How can you tell whether a money order has already been cashed?","u":"how-can-you-tell-whether-a-money-order-has-already-been-cashed","c":"Payments (General)","s":["Money Orders","Payment Products"],"p":[],"d":"2015-09-11","x":"In most cases you cannot (again depends on the bank \u0026amp; country). The money has already been taken out of your account and…"},{"t":"What regulatory changes have limited PreCash Inc’s ability to partner with MSBs after TransferWise?","u":"what-regulatory-changes-have-limited-precash-incs-ability-to-partner-with-msbs-after-transferwise","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Authorized Delegates","Principal and Agent Models"],"p":["Texas"],"d":"2015-09-11","x":"Anna Tong very thoroughly covers this. I will just add to it: PreCash\u0026#39;s Authorized Delegate contracts essentially came…"},{"t":"Why are there no completely free international money transfer tools?","u":"why-are-there-no-completely-free-international-money-transfer-tools","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2015-09-11","x":"Despite what you may have heard, money transfer is essentially a banking function, i.e. money resides in banks and is…"},{"t":"Where do currency exchange dealers source their foreign currency inventories?","u":"where-do-currency-exchange-dealers-source-their-foreign-currency-inventories","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Currency Exchange Businesses"],"p":["United Kingdom"],"d":"2015-09-11","x":"Money changers can get currencies from two of the following sources (needless to say this answers varies from country to…"},{"t":"What does a bank need to offer foreign-currency sub-accounts to customers?","u":"what-does-a-bank-need-to-offer-foreign-currency-sub-accounts-to-customers","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Banking Relationships","Correspondent Tie-Ups"],"p":["Hong Kong"],"d":"2015-09-11","x":"Barring licensing or approval which may be required from the Central Bank/Financial Regulator, what you basically need…"},{"t":"Which regulations apply when starting a money handling or money transfer business in the US?","u":"which-regulations-apply-when-starting-a-money-handling-or-money-transfer-business-in-the-us","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":["Americas","Developed Markets"],"d":"2015-09-11","x":"To get started in the US for money transfer business, you need to register as an MSB (Money Service Business) with…"},{"t":"Is two-factor authentication via OTP really making internet and mobile banking safer?","u":"is-two-factor-authentication-via-otp-really-making-internet-and-mobile-banking-safer","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Multi-Factor Authentication (MFA)"],"p":[],"d":"2015-09-11","x":"Implementing 2FA to a very large degree stems theft/hacking attempts, but it still has its social engineering drawbacks.…"},{"t":"What is the best way to move savings from the US to Pakistan while retaining value in US dollars?","u":"what-is-the-best-way-to-move-savings-from-the-us-to-pakistan-while-retaining-value-in-us-dollars","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Inward Remittances"],"p":["Pakistan","Pakistani Rupee"],"d":"2015-09-11","x":"Just open a foreign currency account in Pakistan with the bank of your choice. Once the account has been opened up,…"},{"t":"How can I retrieve a 6-digit verification code for an EntroPay card charge when it doesn’t show on my statement?","u":"how-can-i-retrieve-a-6-digit-verification-code-for-an-entropay-card-charge-when-it-doesnt-show-on-my","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Prepaid Cards"],"p":[],"d":"2015-09-11","x":"If you are unable to get it on the statement, your best bet is to call up the call-center and ask from there. Say you…"},{"t":"Which international payment solutions are available for cross-border use?","u":"which-international-payment-solutions-are-available-for-cross-border-use","c":"Merchant Accounts, Processors and Gateways","s":["Payment Service Providers (PSP)","Payment Processors"],"p":[],"d":"2015-09-11","x":"Have a look at Adyen, they will do what you are looking at, i.e. marketplace payments, on a global scale, whilst still…"},{"t":"What is inward remittance, when is it used, and are certificates issued for past inward remittances?","u":"what-is-inward-remittance-when-is-it-used-and-are-certificates-issued-for-past-inward-remittances","c":"Sending and Receiving Money Abroad","s":["Inward Remittances","Money Transfer"],"p":["Asia","Indian Subcontinent"],"d":"2015-09-11","x":"Remittance is a word that was conjured up and popularized by the World Bank and typically refers to migrant workers…"},{"t":"What are the most urgent challenges banks are facing today?","u":"what-are-the-most-urgent-challenges-banks-are-facing-today","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Insights","Business Insights"],"p":[],"d":"2015-09-11","x":"Loaded question, and would most likely have many answers. A couple of needs that prop up immediately in my mind are:…"},{"t":"How can checks be deposited at ATMs regardless of bank branch?","u":"how-can-checks-be-deposited-at-atms-regardless-of-bank-branch","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2015-09-11","x":"If the ATM has that functionality, sure. You can deposit a check envelope and key in the amounts, etc. It will still be…"},{"t":"Can I open a bank account with U.S. banks while visiting on a B1/B2 visa?","u":"can-i-open-a-bank-account-with-us-banks-while-visiting-on-a-b1b2-visa","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["United States"],"d":"2015-09-11","x":"Yes you can. Very easily. The bank will require your passport (with a valid Visa), they might ask for some secondary…"},{"t":"Is there an AML software product called PRIME?","u":"is-there-an-aml-software-product-called-prime","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","Compliance Software"],"p":[],"d":"2015-09-10","x":"A quick Google search yielded this: FIS Prime® Compliance Suite: FIS | Anti-Money Laundering"},{"t":"Who can assist with launching a prepaid card program?","u":"who-can-assist-with-launching-a-prepaid-card-program","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards","Card Program Management"],"p":[],"d":"2015-09-10","x":"Quite an open-ended question since you have not cited your country, whether you are looking for a local payment option…"},{"t":"Do ATM withdrawals appear on bank account statements?","u":"do-atm-withdrawals-appear-on-bank-account-statements","c":"How Banks Work","s":["Bank Statements","Banks"],"p":[],"d":"2015-09-10","x":"Yes. By law, every transaction that touches your account and results in a Debit or a Credit has to show up in your bank…"},{"t":"How can someone start an ecommerce business in the UAE, and is company registration required?","u":"how-can-someone-start-an-ecommerce-business-in-the-uae-and-is-company-registration-required","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Company Formation","Legal Entity Formation by Jurisdiction"],"p":["Asia","EMEA"],"d":"2015-09-10","x":"To do business in UAE you would definitely need to be registered. UAE law says that even financial brokers or trading…"},{"t":"What is generally the cheapest way to transfer money internationally?","u":"what-is-generally-the-cheapest-way-to-transfer-money-internationally","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2015-09-10","x":"This depends from which country to which country you are sending it, and how much. If the payment is large enough…"},{"t":"Can banks legally charge late fees in addition to interest on overdue payments?","u":"can-banks-legally-charge-late-fees-in-addition-to-interest-on-overdue-payments","c":"Lending, Credit Scores and BNPL","s":["Consumer Credit","Consumer Lending"],"p":[],"d":"2015-09-10","x":"They can/cannot - depending on the market in which they operate and the regulator. Banks publish something called a…"},{"t":"Are bank consultants allowed to advise clients by analyzing transaction patterns in their accounts?","u":"are-bank-consultants-allowed-to-advise-clients-by-analyzing-transaction-patterns-in-their-accounts","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2015-09-10","x":"A consultant can really do whatever they want, however, many countries do regulate on who can dispense financial advice…"},{"t":"What alternatives exist to 2Checkout for Pakistani ecommerce businesses facing high cross-border fees?","u":"what-alternatives-exist-to-2checkout-for-pakistani-ecommerce-businesses-facing-high-cross-border-fee","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Asia","Emerging Markets"],"d":"2015-09-10","x":"Not many. But when you factor in the have versus the have-not, even costly makes sense. Paying near 5% for 3rd party…"},{"t":"Which types of financial transactions feel most personally rewarding or satisfying?","u":"which-types-of-financial-transactions-feel-most-personally-rewarding-or-satisfying","c":"Payments (General)","s":["Payment Basics","Payment Products"],"p":[],"d":"2015-09-10","x":"Which types of financial transactions feel most personally rewarding or satisfying?"},{"t":"Why are global banks hesitant to accept U.S. citizens or residents as clients, even when they fully comply with IRS reporting?","u":"why-are-global-banks-hesitant-to-accept-us-citizens-or-residents-as-clients-even-when-they-fully-com","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Offshore Banking"],"p":["United States"],"d":"2015-09-10","x":"It is the cost of compliance that is huge. Even if compliant then there is always the continued issue of keep in up with…"},{"t":"What are the key similarities and differences between commercial banks and microfinance institutions?","u":"what-are-the-key-similarities-and-differences-between-commercial-banks-and-microfinance-institutions","c":"Emerging Markets and Financial Inclusion","s":["Financial Inclusion"],"p":[],"d":"2015-09-09","x":"The similarities and difference vary from country to country. Commercial, Investment and Transaction banking services…"},{"t":"Does PayPal operate a single large bank account to manage all user deposits and withdrawals?","u":"does-paypal-operate-a-single-large-bank-account-to-manage-all-user-deposits-and-withdrawals","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Client Money Accounts","Pooled Accounts"],"p":[],"d":"2015-09-09","x":"No. PayPal has various accounts for various products, and each account holder is a sub-account (FBO) as such. PayPal…"},{"t":"How did PayPal handle regulatory and financial scrutiny in its early years?","u":"how-did-paypal-handle-regulatory-and-financial-scrutiny-in-its-early-years","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Fintech Banking Relationships","Client Money Accounts"],"p":["United States"],"d":"2015-09-09","x":"PayPal is still not licensed as a Bank or a Financial Institution (in the US and many other territories they operate…"},{"t":"Is it possible to link a Meezan Bank account with PayPal?","u":"is-it-possible-to-link-a-meezan-bank-account-with-paypal","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":["Asia","Indian Subcontinent"],"d":"2015-09-09","x":"At present, no. Pakistan is not supported, nor connected to the PayPal system/network."},{"t":"How long do wire transfers sent from Dubai typically take to reach banks in Spain?","u":"how-long-do-wire-transfers-sent-from-dubai-typically-take-to-reach-banks-in-spain","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["EMEA","Europe"],"d":"2015-09-09","x":"If the transfer is being done via SWIFT, about a 1.5 days on average (in some cases even same day). It just depends on…"},{"t":"If I want to aggregate payments for many vendors, how could I profit by running my own payment gateway without third parties?","u":"if-i-want-to-aggregate-payments-for-many-vendors-how-could-i-profit-by-running-my-own-payment-gatewa","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2015-09-09","x":"If you don\u0026#39;t want to go to a 3rd party, you can become a financial intermediary for these transactions, by being a…"},{"t":"Do issuing banks ever outsource credit card sales in exchange for a share of recurring revenues?","u":"do-issuing-banks-ever-outsource-credit-card-sales-in-exchange-for-a-share-of-recurring-revenues","c":"Card Networks and Card Issuing","s":["Card Issuing"],"p":[],"d":"2015-09-09","x":"The ISO (Independent Sales Organization) program does just that. In very few cases would the issuing bank agree on…"},{"t":"How does Western Union track money flows and ensure funds reach the right destination?","u":"how-does-western-union-track-money-flows-and-ensure-funds-reach-the-right-destination","c":"Money Transfer Business and MTOs","s":["Western Union","Money Transfer Operators (MTO)"],"p":[],"d":"2015-09-09","x":"Western Union use its own equivalent of a core banking software (to phrase it simply). Every agent is a node on the WU…"},{"t":"How does China UnionPay operate as a payment network?","u":"how-does-china-unionpay-operate-as-a-payment-network","c":"Card Networks and Card Issuing","s":["UnionPay","Card Schemes and Networks"],"p":["China"],"d":"2015-09-09","x":"China Union Pay (CUP) has no different of a flow for processing and settling payments than say Visa or Mastercard. Their…"},{"t":"Is it possible to send or receive money using smartwatches?","u":"is-it-possible-to-send-or-receive-money-using-smartwatches","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Digital Wallets"],"p":[],"d":"2015-09-09","x":"Yes. Possible as digital money. Will it prove something that would work or be practical as we progress along, don\u0026#39;t…"},{"t":"What would happen if Western Union started operating as a Bitcoin exchange?","u":"what-would-happen-if-western-union-started-operating-as-a-bitcoin-exchange","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Models","Industry Strategy"],"p":["Bitcoin"],"d":"2015-09-09","x":"Why would they? Western Union is in the business of moving money, not of becoming an exchange. An exchange does not move…"},{"t":"What must an African company do to start a money-transfer business from the U.S. to their African country?","u":"what-must-an-african-company-do-to-start-a-money-transfer-business-from-the-us-to-their-african-coun","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Starting a Remittance Business"],"p":["Africa","Emerging Markets"],"d":"2015-09-08","x":"Well for starters you would need to get a license in your own country for being a licensed money transfer operator…"},{"t":"How can I obtain a letter of credit?","u":"how-can-i-obtain-a-letter-of-credit","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Letters of Credit","Cross-Border B2B Payments"],"p":[],"d":"2015-09-08","x":"Your bank. Specifically their international trade department."},{"t":"Should coins be phased out as legal tender?","u":"should-coins-be-phased-out-as-legal-tender","c":"Payments (General)","s":["Payment Methods","Cash"],"p":["Belarus","Lao Kip"],"d":"2015-09-07","x":"They should be. Coins are expensive to make, transport, distribute, collect. Millions of them get lost every year.…"},{"t":"Why are there still no major, large-scale Bitcoin exchanges based in the United States?","u":"why-are-there-still-no-major-large-scale-bitcoin-exchanges-based-in-the-united-states","c":"US Money Transmitter Licensing and MSB Registration","s":["US Licensing","Money Transmitter Licenses (MTL)"],"p":["Americas","Bitcoin"],"d":"2015-09-06","x":"At present there is only one licensed Bitcoin exchange in the US, and that is CoinX . That exchange is owned by User .…"},{"t":"How can I obtain a banking license in Pakistan?","u":"how-can-i-obtain-a-banking-license-in-pakistan","c":"Licensing in Other Countries","s":["Pakistan Licensing (SBP)"],"p":["Emerging Market Licensing","Pakistan"],"d":"2015-09-06","x":"At present you cannot. No more banking licenses are being issued. The only way to acquire one currently is to buy out an…"},{"t":"When did Visa become a publicly traded company?","u":"when-did-visa-become-a-publicly-traded-company","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Equities","Securities"],"p":[],"d":"2015-09-05","x":"18th March 2008. As per Wikipedia: On October 3, 2007, Visa completed its corporate restructuring with the formation of…"},{"t":"What are the names of national currencies used in different countries?","u":"what-are-the-names-of-national-currencies-used-in-different-countries","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2015-09-05","x":"List of all the World Countries and their currencies: List of currencies of the world, list of world currencies,…"},{"t":"What business or startup ideas have clear, immediate potential in the Pakistani market, even if they are not tech-focused?","u":"what-business-or-startup-ideas-have-clear-immediate-potential-in-the-pakistani-market-even-if-they-a","c":"Business Strategy, Case Studies and Lessons Learned","s":["Startup Advice","Business Insights"],"p":["Asia","Emerging Markets"],"d":"2015-09-04","x":"Well designed and well run Temp/ Co-working Space (believe me, there isn\u0026#39;t anything well-designed) like those in the…"},{"t":"How many people in Pakistan are using Bitcoin?","u":"how-many-people-in-pakistan-are-using-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Asia","Bitcoin"],"d":"2015-09-04","x":"Hard to put a number on it. I would assume the number is small, perhaps under a 1,000 (and I\u0026#39;m being generous here). I…"},{"t":"How can you verify whether a Western Union tracking number is valid, and what does one look like?","u":"how-can-you-verify-whether-a-western-union-tracking-number-is-valid-and-what-does-one-look-like","c":"Fraud and Scams","s":["Scam Awareness","Fraud Prevention"],"p":[],"d":"2015-09-03","x":"Easy way to check if a tracking number is legit is to have it checked online. Enter the 10 digit number and you will…"},{"t":"Is it especially beneficial for low-income individuals to have bank accounts, and if so, why?","u":"is-it-especially-beneficial-for-low-income-individuals-to-have-bank-accounts-and-if-so-why","c":"Emerging Markets and Financial Inclusion","s":["Financial Inclusion","Underbanked"],"p":[],"d":"2015-09-02","x":"Asking people with low incomes to have a bank account in this day and age is asking people to invest in a landline. The…"},{"t":"Why does Bitcoin’s price volatility seem to be decreasing (as observed around January 2014)?","u":"why-does-bitcoins-price-volatility-seem-to-be-decreasing-as-observed-around-january-2014","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Trading","Crypto Speculation"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-09-01","x":"Its primarily due to China\u0026#39;s central bank clamping down on Bitcoin investment and trading from within China. This was…"},{"t":"Are self-service kiosks for payments and bill payments a viable future solution for developing countries and startups?","u":"are-self-service-kiosks-for-payments-and-bill-payments-a-viable-future-solution-for-developing-count","c":"Starting and Running a Fintech or Payments Business","s":["Payments Business Models","Starting a Fintech or Payments Company"],"p":[],"d":"2015-08-12","x":"Great answers and points by others, I would like to contribute the following to what has already been said. Kiosks are a…"},{"t":"Why might a bank close a customer’s account without providing a clear explanation?","u":"why-might-a-bank-close-a-customers-account-without-providing-a-clear-explanation","c":"Consumer Protection, Customer Rights and Customer Service","s":["Consumer Protection","Consumer Rights"],"p":[],"d":"2015-08-12","x":"Banks cannot close your account without telling you. Legally, they have to let you know that your account is being…"},{"t":"What are the benefits of KYC requirements for banks, and how do they help prevent money laundering?","u":"what-are-the-benefits-of-kyc-requirements-for-banks-and-how-do-they-help-prevent-money-laundering","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","Anti-Money Laundering (AML)"],"p":[],"d":"2015-08-12","x":"Cash is strictly an anonymous medium of exchange, however, this changes when cash is deposited into a bank and then this…"},{"t":"What does a typical ACH payment acceptance flow look like end to end?","u":"what-does-a-typical-ach-payment-acceptance-flow-look-like-end-to-end","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2015-08-12","x":"This what a typical time-motion diagram for ACH looks like. ​ ​For data fields etc see this answer and the links within…"},{"t":"Can Bitcoin indirectly strengthen the U.S. dollar’s global status?","u":"can-bitcoin-indirectly-strengthen-the-us-dollars-global-status","c":"Geopolitics of Money and the International Monetary System","s":["Monetary Systems","Geopolitics of Money"],"p":["Bitcoin","United States"],"d":"2015-08-12","x":"No. We cannot make this statement in any manner. There is no significant data to suggest so."},{"t":"Is knowing someone’s bank account number alone enough to withdraw money from a US bank account?","u":"is-knowing-someones-bank-account-number-alone-enough-to-withdraw-money-from-a-us-bank-account","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","ACH"],"p":["Americas","Developed Markets"],"d":"2015-08-11","x":"For an ACH pull to occur, the payment provider \u0026amp;/or the bank will most likely seek information from you (as the…"},{"t":"Is there a truly universal ATM card that works for cash withdrawals at all banks worldwide?","u":"is-there-a-truly-universal-atm-card-that-works-for-cash-withdrawals-at-all-banks-worldwide","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards"],"p":[],"d":"2015-08-11","x":"Nope. VISA/Mastercard logo issued are the most widely accepted, but there ins\u0026#39;t a general card that is accepted…"},{"t":"Do central banking conspiracy theories have any factual basis, and why or why not?","u":"do-central-banking-conspiracy-theories-have-any-factual-basis-and-why-or-why-not","c":"Central Banks and Bank Supervision","s":["Central Banks","Banking Economics"],"p":[],"d":"2015-08-11","x":"It is a conspiracy theory only if you don\u0026#39;t understand the system and how it works. If you read up on banking along with…"},{"t":"Can a merchant effectively operate as a payment service provider on top of PayPal?","u":"can-a-merchant-effectively-operate-as-a-payment-service-provider-on-top-of-paypal","c":"Merchant Accounts, Processors and Gateways","s":["Payment Service Providers (PSP)","Payment Processors"],"p":[],"d":"2015-08-10","x":"No. Currently PayPal does not have such a plan, where by a middle party can assign sub-merchants to accept PayPal…"},{"t":"What challenges do companies face when paying employees, partners, or affiliates in cash?","u":"what-challenges-do-companies-face-when-paying-employees-partners-or-affiliates-in-cash","c":"AML Programs, KYC and Compliance Operations","s":["Compliance Costs","Anti-Money Laundering (AML)"],"p":["United States"],"d":"2015-08-10","x":"I can immediately think of three challenges: COC KYC - Cash Over Counter - Know Your Customer. Distribution Points from…"},{"t":"How can someone obtain and distribute Visa or Mastercard prepaid debit cards in an African country?","u":"how-can-someone-obtain-and-distribute-visa-or-mastercard-prepaid-debit-cards-in-an-african-country","c":"Card Networks and Card Issuing","s":["Card Issuing","Card Schemes and Networks"],"p":["Africa","EMEA"],"d":"2015-08-10","x":"To distribute VISA/MasterCard prepaid products in a specific African country, you need to work with an issuing bank in…"},{"t":"Are there API options for recurring payments for Israeli companies besides PayPal?","u":"are-there-api-options-for-recurring-payments-for-israeli-companies-besides-paypal","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Payment APIs"],"p":["Developed Markets","EMEA"],"d":"2015-08-10","x":"Have you looked into Tipalti? Mass Payouts Provider | Global Affiliate and Publisher Payments | Tipalti.com"},{"t":"What are the possible applications and use cases of Hyperledger?","u":"what-are-the-possible-applications-and-use-cases-of-hyperledger","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain Technology","Blockchain"],"p":[],"d":"2015-08-10","x":"What I like about Hyperledger is that it is almost an out-of-the-box solution that I can deploy. Though it does not have…"},{"t":"In online payments, what does tokenization mean?","u":"in-online-payments-what-does-tokenization-mean","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2015-08-09","x":"In the simplest of words... its mapping of your credit card data to something (again data) that if it falls in to the…"},{"t":"What is 3D Secure, how does it protect transactions, can it increase checkout drop-offs, and are there alternatives?","u":"what-is-3d-secure-how-does-it-protect-transactions-can-it-increase-checkout-drop-offs-and-are-there","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Online Checkout"],"p":[],"d":"2015-08-09","x":"3D-Secure is an added security layer provided by MasterCard ( SecureCode ) and VISA ( Verified by VISA ) that…"},{"t":"What advantages does Stellar offer compared with Ripple?","u":"what-advantages-does-stellar-offer-compared-with-ripple","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Blockchain Technology"],"p":[],"d":"2015-08-08","x":"I\u0026#39;m not sure if they have an advantage per se. In the end, a number of great products don\u0026#39;t see the light of the day,…"},{"t":"How common is it today for employees to receive salaries paid in Bitcoin?","u":"how-common-is-it-today-for-employees-to-receive-salaries-paid-in-bitcoin","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments"],"p":["Bitcoin"],"d":"2015-08-08","x":"Extremely uncommon in the greater scheme of things. Mostly done for novelty purposes. When it comes to one\u0026#39;s own salary,…"},{"t":"What are some potential disruptions that could significantly change credit card usage?","u":"what-are-some-potential-disruptions-that-could-significantly-change-credit-card-usage","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":["Bitcoin"],"d":"2015-08-07","x":"I don\u0026#39;t have a ready taxonomy reference to refer to, but yeah, the social payments seems an adequate phrase to describe…"},{"t":"What is your opinion of the BitLicense regulations proposed by Ben Lawsky?","u":"what-is-your-opinion-of-the-bitlicense-regulations-proposed-by-ben-lawsky","c":"Crypto and VASP Licensing","s":["Crypto Regulation","Crypto Licensing"],"p":["Bitcoin","New York"],"d":"2015-08-07","x":"There is a great breakdown by Marco Santori (who is an attorney and specializes in Bitcoin related ventures). His…"},{"t":"If a bank claims to be building a more customer-centric culture, what should customers actually experience?","u":"if-a-bank-claims-to-be-building-a-more-customer-centric-culture-what-should-customers-actually-exper","c":"Business Strategy, Case Studies and Lessons Learned","s":["Customer Experience in Finance","Execution"],"p":[],"d":"2015-08-07","x":"Heather Wilde gives a great answer. I would like to add to it: The Customer definition is extremely important. There is…"},{"t":"What is the current state of banking regulation across African countries?","u":"what-is-the-current-state-of-banking-regulation-across-african-countries","c":"Central Banks and Bank Supervision","s":["Banking Economics","Bank Supervision"],"p":["Africa","Global South"],"d":"2015-08-07","x":"Its mixed at best. African central bankers would like to see a more mature banking environment, however politics and…"},{"t":"Will virtual currencies eventually replace physical cash?","u":"will-virtual-currencies-eventually-replace-physical-cash","c":"Stablecoins and CBDCs","s":["Central Bank Digital Currencies (CBDC)","Digital Dollar"],"p":["Bitcoin"],"d":"2015-08-06","x":"Eventually, in 25-100+ years from now... there would be no physical currency, everything would be digital. It would…"},{"t":"Do P2P remittance firms like TransferWise require large amounts of capital to sustain their very low pricing?","u":"do-p2p-remittance-firms-like-transferwise-require-large-amounts-of-capital-to-sustain-their-very-low","c":"Payment Corridors and Remittance Economics","s":["Remittance Economics","Remittance Pricing"],"p":["Australia","Australian Dollar"],"d":"2015-08-06","x":"Capital simply aids in liquidity and pre-funding certain corridors, but the low pricing is not because of the capital…"},{"t":"How many Asian countries use real-time gross settlement systems similar to India’s Aadhaar-enabled payment system?","u":"how-many-asian-countries-use-real-time-gross-settlement-systems-similar-to-indias-aadhaar-enabled-pa","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Real-Time Payments"],"p":["Asia","Indonesia"],"d":"2015-08-06","x":"Very few, a lot many countries however, are working on it (Pakistan, Bangladesh, Indonesia, Philippines, Chile,…"},{"t":"Do large international companies move money globally using the same banks and tools like PayPal that individuals use?","u":"do-large-international-companies-move-money-globally-using-the-same-banks-and-tools-like-paypal-that","c":"Treasury, Liquidity and Corporate Finance","s":["Treasury Operations for Payment Firms"],"p":[],"d":"2015-08-06","x":"Tom Rundle explains it well. Depending on the company and how they value and handle payments, there are many methods.…"},{"t":"What value does a global acquiring bank bring to merchants and payment businesses?","u":"what-value-does-a-global-acquiring-bank-bring-to-merchants-and-payment-businesses","c":"Merchant Accounts, Processors and Gateways","s":["Acquiring Banks","Payment Processors"],"p":[],"d":"2015-08-06","x":"Relatively faster settlements for inter-country payments. On a secondary level, the approval process for underwriting…"},{"t":"Which startups are currently active in the money transfer and remittance space?","u":"which-startups-are-currently-active-in-the-money-transfer-and-remittance-space","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":[],"d":"2015-08-06","x":"See some startups in the Period Table of Remittances ( Periodic Table of Remittances ). There are literally 100s of…"},{"t":"Why do electronic payments get authorized in seconds but take 2–3 days for clearing and settlement?","u":"why-do-electronic-payments-get-authorized-in-seconds-but-take-23-days-for-clearing-and-settlement","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Clearing","Payment Infrastructure"],"p":[],"d":"2015-08-06","x":"Short answer, batch processing. Authorizations can be given in real-time throughout the day, but the aggregate…"},{"t":"What wireless or hardware solutions exist for international money transfer agents, and are there Stripe-like platforms for payments?","u":"what-wireless-or-hardware-solutions-exist-for-international-money-transfer-agents-and-are-there-stri","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Remittance Agents"],"p":[],"d":"2015-08-06","x":"In the world of remittances transfers, wireless/wired equipment is seldom used. It might be used at the loading (Agent)…"},{"t":"Why do US banks typically charge around $30 for sending a wire and $12 for receiving one between businesses?","u":"why-do-us-banks-typically-charge-around-30-for-sending-a-wire-and-12-for-receiving-one-between-busin","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Wire Transfers","Payment Infrastructure"],"p":["Americas","Developed Markets"],"d":"2015-08-06","x":"If you\u0026#39;re using the \u0026#34;Wire Transfer\u0026#34; chances are you\u0026#39;re using the FedWire transfer mechanism, which is an RTGS (Real-Time…"},{"t":"Is it possible to open a US bank account remotely while living outside the United States?","u":"is-it-possible-to-open-a-us-bank-account-remotely-while-living-outside-the-united-states","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["United States"],"d":"2015-08-06","x":"A personal checking account, no. A business account, yes, but it comes with a bit of pre-requisites \u0026amp; conditions. A…"},{"t":"Which payment gateways are available in Pakistan?","u":"which-payment-gateways-are-available-in-pakistan","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-08-05","x":"MIGS by MCB MIGS by NIB Bank Cybersource by HBL Etisalat\u0026#39;s Payment Gateway by UBL."},{"t":"What are the steps involved in setting up a remittance or money transfer business?","u":"what-are-the-steps-involved-in-setting-up-a-remittance-or-money-transfer-business","c":"Money Transfer Business and MTOs","s":["Starting a Remittance Business","Money Transfer Operators (MTO)"],"p":[],"d":"2015-08-05","x":"Note: This article was originally published on my website which can be read here: How Do I Set Up A Remittance Money…"},{"t":"How can someone launch a prepaid debit or credit card program with a bank without being a resident of that country?","u":"how-can-someone-launch-a-prepaid-debit-or-credit-card-program-with-a-bank-without-being-a-resident-o","c":"Card Networks and Card Issuing","s":["Card Issuing","BIN Sponsorship"],"p":[],"d":"2015-08-05","x":"You do not need to be a resident of a country to launch a Pre-Paid Debit Card. In many countries their are companies…"},{"t":"What exactly are ACH fees and who charges them?","u":"what-exactly-are-ach-fees-and-who-charges-them","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":["Americas","Developed Markets"],"d":"2015-08-05","x":"ACH Fees is usually what you as a Banking Client would pay to pay via the Automated Clearing House (ACH) in the US to…"},{"t":"What do customers typically expect from an online payment gateway?","u":"what-do-customers-typically-expect-from-an-online-payment-gateway","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Payment User Experience"],"p":[],"d":"2015-08-04","x":"Frictionless, secure and fast transfer of online payments without having to chase and/or find out where\u0026#39;s my money ?"},{"t":"What is the most efficient way to pay Elance freelancers from Pakistan if I don’t have PayPal or a credit card?","u":"what-is-the-most-efficient-way-to-pay-elance-freelancers-from-pakistan-if-i-dont-have-paypal-or-a-cr","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Freelancer Payments","Online Payment Platforms"],"p":["Asia","Global South"],"d":"2015-08-04","x":"Get a Payoneer Debit card, and ask the client to pay on to that (assuming the client is only in the US). Payoneer…"},{"t":"Can non-US citizens open bank accounts in the United States, and which banks are generally more foreigner-friendly?","u":"can-non-us-citizens-open-bank-accounts-in-the-united-states-and-which-banks-are-generally-more-forei","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["United States"],"d":"2015-08-04","x":"If you have a valid US Visa, a domestic address and at least two methods of identification (at least one of them has to…"},{"t":"Is it legally necessary to be a bank to move money, or can individuals or companies transact money if they build their own system?","u":"is-it-legally-necessary-to-be-a-bank-to-move-money-or-can-individuals-or-companies-transact-money-if","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensable Activities","License Type Comparisons (MSB vs EMI vs Bank)"],"p":[],"d":"2015-08-04","x":"If you\u0026#39;re a financial intermediary, chances are you would need to be licensed as money service business / money…"},{"t":"How common is coordination or cooperation between central banks across different countries?","u":"how-common-is-coordination-or-cooperation-between-central-banks-across-different-countries","c":"Central Banks and Bank Supervision","s":["Central Banks","Central Bank Policy"],"p":[],"d":"2015-08-04","x":"Difficult question to answer. If someone were to go back in time and cite at examples of collusion in the early history…"},{"t":"Is it possible to transfer foreign currency between two local bank accounts in another country, and if so how, or why not?","u":"is-it-possible-to-transfer-foreign-currency-between-two-local-bank-accounts-in-another-country-and-i","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":[],"d":"2015-08-04","x":"It is possible. Certain banks allow this (for example HSBC Premier Banking allows this and in certain geographic regions…"},{"t":"How can we build a proof of concept for an agent-banking solution?","u":"how-can-we-build-a-proof-of-concept-for-an-agent-banking-solution","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2015-08-02","x":"Agent banking solutions are essentially branchless banking solutions where the agent network is tapped for account…"},{"t":"What is the best way to receive money anonymously?","u":"what-is-the-best-way-to-receive-money-anonymously","c":"Payments (General)","s":["Payment Methods","Choosing a Payment Method"],"p":["Bitcoin"],"d":"2015-07-12","x":"Cash is king when it comes to being anonymous. Bearer certificates would be the other bet. Then you have all sorts of…"},{"t":"I’ve designed a card that could replace credit and debit cards—how can I bring it to market?","u":"ive-designed-a-card-that-could-replace-credit-and-debit-cardshow-can-i-bring-it-to-market","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":["Kuwait"],"d":"2015-07-12","x":"About 14 years ago, I came across homemaker from Kuwait who was starting a very small startup by the name of InsCash…"},{"t":"Why do payments like Chase QuickPay show a “pending” status?","u":"why-do-payments-like-chase-quickpay-show-a-pending-status","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":[],"d":"2015-07-12","x":"Most likely the recipient to whom the payment is being made, has not yet accepted the payment."},{"t":"Do you need to link a credit card to Bitcoin in order to use it for payments?","u":"do-you-need-to-link-a-credit-card-to-bitcoin-in-order-to-use-it-for-payments","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2015-07-12","x":"Not necessarily. If your merchant accepts Bitcoins (via a wallet transfer or other mechanisms), you\u0026#39;re good to go.…"},{"t":"Do Bitcoin exchanges sell or share user data?","u":"do-bitcoin-exchanges-sell-or-share-user-data","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Bitcoin","United States"],"d":"2015-07-12","x":"As a licensed Bitcoin exchange in the US, I can answer as to what we do in our exchange CoinXTrader: No, we do not sell…"},{"t":"Which financial API should be used to build a free or near-free bank ACH transfer app similar to Venmo or Square Cash?","u":"which-financial-api-should-be-used-to-build-a-free-or-near-free-bank-ach-transfer-app-similar-to-ven","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Banking APIs"],"p":[],"d":"2015-07-11","x":"It not really a question of what particular financial API you should use, but more or less a question of what API your…"},{"t":"What are the implications of providing personal information to Xoom when sending over $10,000 within six months?","u":"what-are-the-implications-of-providing-personal-information-to-xoom-when-sending-over-10000-within-s","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","AML Policies and Procedures"],"p":[],"d":"2015-07-10","x":"Nothing. The added information is from an AML/KYC Manual guideline that Xoom is following. They are just trying to…"},{"t":"Why does the U.S. have so many banks compared to many Asian countries dominated by a few large banks?","u":"why-does-the-us-have-so-many-banks-compared-to-many-asian-countries-dominated-by-a-few-large-banks","c":"Central Banks and Bank Supervision","s":["Bank Charters","Banking Economics"],"p":["Americas","Asia"],"d":"2015-07-10","x":"In the US, obtaining a bank license is not necessarily a Federal issue (as it is with other countries). In the US, the…"},{"t":"In Europe, what is the best way to regulate Bitcoin under financial law—fit it into existing frameworks or create dedicated regulation?","u":"in-europe-what-is-the-best-way-to-regulate-bitcoin-under-financial-lawfit-it-into-existing-framework","c":"Crypto and VASP Licensing","s":["Crypto Regulation","Crypto Licensing"],"p":["Bitcoin","Developed Markets"],"d":"2015-07-10","x":"Ideally, we should not be regulating it. Let it mature. However, if it must be regulated then, under the existing PI…"},{"t":"What is Bitcoin, how does it function, is it legal, and who created it?","u":"what-is-bitcoin-how-does-it-function-is-it-legal-and-who-created-it","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2015-07-10","x":"There is a great article that was written by Nik Custodio last year, that explains Bitcoins very well: Explain Bitcoin…"},{"t":"Do direct banks such as Ally Bank follow the same regulatory requirements as traditional banks?","u":"do-direct-banks-such-as-ally-bank-follow-the-same-regulatory-requirements-as-traditional-banks","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulators"],"p":["Utah"],"d":"2015-07-09","x":"Yes. Ally Bank is regulated on the State level by DFI Utah and on a Federal level by the FDIC, so no exceptions on the…"},{"t":"How are savings handled by Automated Savings apps like Digit insured by the FDIC?","u":"how-are-savings-handled-by-automated-savings-apps-like-digit-insured-by-the-fdic","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Saving","Online Banking"],"p":[],"d":"2015-07-09","x":"Digit can\u0026#39;t touch the money, it can only move the money between your original bank account their Digit Saving Account,…"},{"t":"If we build a ticketing platform like Eventbrite that rewards users for sharing sales, do we need an MSB license?","u":"if-we-build-a-ticketing-platform-like-eventbrite-that-rewards-users-for-sharing-sales-do-we-need-an","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":[],"d":"2015-07-09","x":"As long as you are not holding on to the payments in your accounts, you would not be classified as an MSB. You should…"},{"t":"If I beta-launch a marketplace that holds funds in escrow or for 24–48 hours, would I need a money-transmitter license?","u":"if-i-beta-launch-a-marketplace-that-holds-funds-in-escrow-or-for-2448-hours-would-i-need-a-money-tra","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":[],"d":"2015-07-09","x":"If you are are touching the money and be holding on to it - you would require a Money Transmitter License. If you are…"},{"t":"What types of companies and business models are built around Bitcoin?","u":"what-types-of-companies-and-business-models-are-built-around-bitcoin","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Models","Business Insights"],"p":["Bitcoin"],"d":"2015-07-09","x":"100s if not 1000s of them. CoinDesk covers the industry segment really well. Some are deep in Bitcoin, some are hugging…"},{"t":"With BitPay, are bitcoins collected from customers deposited into a business bank account via ACH?","u":"with-bitpay-are-bitcoins-collected-from-customers-deposited-into-a-business-bank-account-via-ach","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payment Processors","Crypto Payments"],"p":["Bitcoin"],"d":"2015-07-09","x":"When a customer pays a BitPay merchant, the merchant has two options: (a) To keep Bitcoins - which would imply they are…"},{"t":"If global GDP is around $71.83 trillion but derivatives total about $350 trillion, why is the derivatives market so much larger than the real economy?","u":"if-global-gdp-is-around-7183-trillion-but-derivatives-total-about-350-trillion-why-is-the-derivative","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Derivatives","Securities"],"p":[],"d":"2015-07-08","x":"If global GDP is around $71.83 trillion but derivatives total about $350 trillion, why is the derivatives market so much…"},{"t":"Mobile payments have launched in Pakistan, but I rarely see merchants using them—how do these systems work and who is accepting them?","u":"mobile-payments-have-launched-in-pakistan-but-i-rarely-see-merchants-using-themhow-do-these-systems","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-07-08","x":"There are three types of mobile payments in Pakistan: Payments made using the mobile phone Mobile Point of Sale Systems…"},{"t":"Given the huge compliance fines banks have paid, how can they reduce human error—perhaps with checklists—to avoid such failures?","u":"given-the-huge-compliance-fines-banks-have-paid-how-can-they-reduce-human-errorperhaps-with-checklis","c":"AML Programs, KYC and Compliance Operations","s":["High-Risk Industries Compliance","Internal Controls"],"p":["Texas","United States"],"d":"2015-07-08","x":"Implementing compliance on the whole is a pretty difficult thing to do. Compliance itself has so many rulesets (some…"},{"t":"How does an online money transfer actually work from a technical and process standpoint?","u":"how-does-an-online-money-transfer-actually-work-from-a-technical-and-process-standpoint","c":"Payments (General)","s":["Payment Basics","Payment Methods"],"p":[],"d":"2015-07-08","x":"That is a pretty broad question. However, the basic premise of all online money transfers is based on Trust and…"},{"t":"How can mobile wallets save consumers about 1% on every purchase compared to card payments while improving the shopping experience?","u":"how-can-mobile-wallets-save-consumers-about-1-on-every-purchase-compared-to-card-payments-while-impr","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Digital Wallets"],"p":[],"d":"2015-07-07","x":"In most countries this is already in play, but loading your wallet with funds (usually an ACH equivalent, riding the ATM…"},{"t":"What steps can the RBI take to strengthen the Indian rupee?","u":"what-steps-can-the-rbi-take-to-strengthen-the-indian-rupee","c":"Economics, Inflation and Monetary Policy","s":["Currency","Macroeconomics"],"p":["India","Indian Rupee"],"d":"2015-07-07","x":"Reduce its current account deficit. More exports, less imports, less government debt."},{"t":"What is the most efficient way to send money from the UAE to India?","u":"what-is-the-most-efficient-way-to-send-money-from-the-uae-to-india","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","India"],"d":"2015-07-07","x":"There are literally 100s of MTOs/Banks who will do this for you. UAE-India is one of the top grossing remittance…"},{"t":"How will PayPal’s acquisition of Xoom influence the remittances market?","u":"how-will-paypals-acquisition-of-xoom-influence-the-remittances-market","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":[],"d":"2015-07-07","x":"As always, this is my opinion. Feel free to disagree. Let us tackle the first part of the question which is how do I see…"},{"t":"What is the best option for a website that needs to receive low-volume but high-value ACH payments?","u":"what-is-the-best-option-for-a-website-that-needs-to-receive-low-volume-but-high-value-ach-payments","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2015-07-05","x":"Your best bet is for an ACH client push, with a written authorization and a photo-ID for such a large ticket item (if…"},{"t":"Is there an off-the-shelf EMV (chip-and-PIN) Bluetooth card reader I can buy to build my own iOS payment solution?","u":"is-there-an-off-the-shelf-emv-chip-and-pin-bluetooth-card-reader-i-can-buy-to-build-my-own-ios-payme","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2015-07-05","x":"There are plenty of players in this realm. Just to cite one example: Miura Systems: http://www.miurasystems.com/"},{"t":"In a world of smart tech, Faster Payments (UK), ACH, and EPN (US), why can’t bank accounts show truly real-time balances based on all posted transactions?","u":"in-a-world-of-smart-tech-faster-payments-uk-ach-and-epn-us-why-cant-bank-accounts-show-truly-real-ti","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Real-Time Payments"],"p":["Hong Kong","Pakistan"],"d":"2015-07-05","x":"Lots of questions asked, so here are the answers: In the UK, if the direct-debit is between two people, i.e. interbank…"},{"t":"How can I start and operate an acquiring bank?","u":"how-can-i-start-and-operate-an-acquiring-bank","c":"Licensing in Other Countries","s":["UAE Licensing (CBUAE"],"p":["Gulf Cooperation Council","MENA (Middle East and North Africa)"],"d":"2015-07-05","x":"In the UAE for example, you would need to obtain a banking license from the Central Bank of UAE…"},{"t":"How does PayPal Here compare to Square?","u":"how-does-paypal-here-compare-to-square","c":"Merchant Accounts, Processors and Gateways","s":["Payment Service Providers (PSP)","Payment Processors"],"p":[],"d":"2015-07-05","x":"No one knows for sure. There are estimates and then there are estimates. For example, most of the folks who are into the…"},{"t":"Will Facebook eventually introduce its own person-to-person money-transfer feature?","u":"will-facebook-eventually-introduce-its-own-person-to-person-money-transfer-feature","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":[],"d":"2015-07-05","x":"Most people are divided on this question. My information and sources tell me, Facebook will introduce send-money option,…"},{"t":"Are Bitcoins likely to become the future of currency?","u":"are-bitcoins-likely-to-become-the-future-of-currency","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2015-07-05","x":"Most certainly not. BitCoin is not the future of currency. The future of currency would still be the same one that we…"},{"t":"What will money look like 35 years from now?","u":"what-will-money-look-like-35-years-from-now","c":"Payments (General)","s":["Payment Methods","Cash"],"p":["Denmark"],"d":"2015-07-05","x":"Money even a 100 years from now, would be digitally value transfer mechanism. As we (money \u0026amp; payments) get more digital…"},{"t":"What is the difference between a SWIFT transfer and a wire transfer?","u":"what-is-the-difference-between-a-swift-transfer-and-a-wire-transfer","c":"International Wire Transfers and Large Transfers","s":["SWIFT Transfers","International Wire Transfers"],"p":[],"d":"2015-07-05","x":"Nomenclature essentially, also depends from which country this question is being asked for. Strictly speaking, there is…"},{"t":"Can MCB Lite or UBL Wiz cards be used for purchases on AliExpress in Pakistan?","u":"can-mcb-lite-or-ubl-wiz-cards-be-used-for-purchases-on-aliexpress-in-pakistan","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Marketplace Payments"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-07-05","x":"MCB Lite works perfectly fine on AliExpress."},{"t":"Which technology companies around the world are building tools to help customers switch their primary bank?","u":"which-technology-companies-around-the-world-are-building-tools-to-help-customers-switch-their-primar","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Industry","Fintech Trends"],"p":["Developed Markets","EMEA"],"d":"2015-07-04","x":"In the UK, you can switch your bank accounts using the Switch-Free service. Whether or not, they can setup your payments…"},{"t":"What is the best way to start an online business?","u":"what-is-the-best-way-to-start-an-online-business","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance"],"p":[],"d":"2015-07-04","x":"I wrote a pretty detailed answer on How to start an Online Business. Faisal Khan\u0026#39;s answer to How do I start an online…"},{"t":"What are the top five consumer problems that mobile POS systems help solve?","u":"what-are-the-top-five-consumer-problems-that-mobile-pos-systems-help-solve","c":"Merchant Accounts, Processors and Gateways","s":["Point of Sale (POS)","POS Terminals"],"p":[],"d":"2015-07-04","x":"Would be hard-pressed to find 5 solid reasons. Flexibility / Convenience / Mobility all wrapped as a single-problem is…"},{"t":"What are the strongest arguments for and against treating Coinbase as a true exchange?","u":"what-are-the-strongest-arguments-for-and-against-treating-coinbase-as-a-true-exchange","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Bitcoin"],"d":"2015-07-04","x":"If Coinbase were an exchange in the classical sense, it would have a market, where Bids \u0026amp; Offers would be made. You\u0026#39;d be…"},{"t":"Which mobile payments startups map phone numbers to underlying Visa card numbers or IBANs?","u":"which-mobile-payments-startups-map-phone-numbers-to-underlying-visa-card-numbers-or-ibans","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":["Emerging Markets","Global South"],"d":"2015-07-03","x":"MCBLite in Pakistan does that. So does EasyPaisa (also in Pakistan). Most branchless MNOs who offer banking services…"},{"t":"Can you walk through the full credit-card payment flow from the payment terminal and swipe to the issuing bank returning an authorization code?","u":"can-you-walk-through-the-full-credit-card-payment-flow-from-the-payment-terminal-and-swipe-to-the-is","c":"Card Networks and Card Issuing","s":["Card Authorization","Card Issuing"],"p":[],"d":"2015-07-03","x":"Even though this infographic technically explains how the Interchange fees, etc. is earned/split, it does provide a very…"},{"t":"What monthly income would I need to comfortably buy a $5 coffee daily in the U.S.?","u":"what-monthly-income-would-i-need-to-comfortably-buy-a-5-coffee-daily-in-the-us","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Budgeting","Financial Literacy"],"p":["Americas","Developed Markets"],"d":"2015-07-03","x":"It really depends on how much people love their coffee to spend $150 on it every month (assuming 1 cup only per day).…"},{"t":"Since many people have debit cards but not credit cards, is there or could there be a debit-based online payment option in Pakistan?","u":"since-many-people-have-debit-cards-but-not-credit-cards-is-there-or-could-there-be-a-debit-based-onl","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards","Card Security"],"p":["Asia","Indian Subcontinent"],"d":"2015-07-03","x":"Banks are hesitant to allow Debit cards to be used online as this is direct debit and chances of fraudulent transactions…"},{"t":"Which bank in Pakistan is the best option for opening a personal account?","u":"which-bank-in-pakistan-is-the-best-option-for-opening-a-personal-account","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-07-03","x":"Dealing with banks on a daily business, here would be my personal recommendations for both your personal…"},{"t":"Is online credit-card shopping in Pakistan truly risky, or is the fear mainly due to perception and lack of awareness?","u":"is-online-credit-card-shopping-in-pakistan-truly-risky-or-is-the-fear-mainly-due-to-perception-and-l","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Card Security"],"p":["Asia","Emerging Markets"],"d":"2015-07-03","x":"There is inherently nothing \u0026#34;scary\u0026#34; about using a credit card online. There are various theories over the years that one…"},{"t":"How do employers pay freelance writers located in other countries?","u":"how-do-employers-pay-freelance-writers-located-in-other-countries","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Freelancer Payments","Getting Paid from Abroad"],"p":[],"d":"2015-07-03","x":"Plenty of ways to go about this. Default payment method of choice is usually an international wire transfer for large…"},{"t":"Where are national bank accounts actually held?","u":"where-are-national-bank-accounts-actually-held","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Ledgers"],"p":["Euro","European Union"],"d":"2015-07-03","x":"Understanding how money is created and held by each country, etc. is overly simple, to the extent, we don\u0026#39;t believe it.…"},{"t":"For global B2C transfers, what banking details are needed to send winnings from a European gaming bank to users in 190+ countries?","u":"for-global-b2c-transfers-what-banking-details-are-needed-to-send-winnings-from-a-european-gaming-ban","c":"High-Risk Industries","s":["Gambling Payments","High-Risk Industry Banking"],"p":[],"d":"2015-07-03","x":"It would be a very difficult effort for you to go into 190+ countries and establish banking connect presence there. Your…"},{"t":"Which payment gateways are best in the Middle East, and is a local company required for approval?","u":"which-payment-gateways-are-best-in-the-middle-east-and-is-a-local-company-required-for-approval","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["EMEA","Emerging Markets"],"d":"2015-07-03","x":"Have a look at PayFort, they are the de facto go to guys for many startups and established businesses. Payfort | Online…"},{"t":"What is the next major fintech disruption expected in the payments industry?","u":"what-is-the-next-major-fintech-disruption-expected-in-the-payments-industry","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Industry","Fintech Trends"],"p":["Brazil","Pakistan"],"d":"2015-07-03","x":"Its taken roughly 400+ years for the cracks of disruption starting to appear in the banking fabric. VISA \u0026amp; MasterCard…"},{"t":"How can I track an international wire transfer if I am not a bank employee but have the SWIFT copy?","u":"how-can-i-track-an-international-wire-transfer-if-i-am-not-a-bank-employee-but-have-the-swift-copy","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-07-03","x":"International wire transfers like SWIFT do not provide a Fedex like dashboard to track payments (hardly anyone does when…"},{"t":"Which APIs exist for transferring funds between accounts?","u":"which-apis-exist-for-transferring-funds-between-accounts","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Banking APIs"],"p":[],"d":"2015-07-03","x":"Any decent ACH processor will provide you with APIs. There are so many of them. Push APIs which are more easily…"},{"t":"What is the best international address verification service?","u":"what-is-the-best-international-address-verification-service","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration"],"p":["Emerging Markets","Global South"],"d":"2015-07-02","x":"There are none essentially. Though there are companies like GDC and GB Group, their outreach is limited when it comes to…"},{"t":"What revenue layers exist between a U.S. institution holding an MSB license and the end customer?","u":"what-revenue-layers-exist-between-a-us-institution-holding-an-msb-license-and-the-end-customer","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":["Americas","Developed Markets"],"d":"2015-07-02","x":"Here is a graph that would give you an idea of how money is split. This is assuming that introduction parties are not…"},{"t":"Where can I find information about Greece’s anti–money laundering laws related to money-transfer services?","u":"where-can-i-find-information-about-greeces-antimoney-laundering-laws-related-to-money-transfer-servi","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Policies and Procedures"],"p":["Developed Markets","EMEA"],"d":"2015-07-02","x":"Bank of Greece is the supervisor for all efforts pertaining to the Anti-Money Laundering effort. You can read about them…"},{"t":"Why does Dwolla require users to provide a Social Security Number?","u":"why-does-dwolla-require-users-to-provide-a-social-security-number","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","Identity Verification (IDV)"],"p":[],"d":"2015-07-02","x":"The Bank Secrecy Act, it has so many updates and amendments, its probably buried somewhere inside of it: Bank Secrecy…"},{"t":"How can someone start a business that provides payment processing like Stripe, WePay, or Square?","u":"how-can-someone-start-a-business-that-provides-payment-processing-like-stripe-wepay-or-square","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":["Developed Markets","North America"],"d":"2015-07-01","x":"For the US, assuming if you need a license (you don\u0026#39;t need a license if you are an ISO/MSP) depends on on what sort of…"},{"t":"Does Xoom provide next-day credit for transfers to India?","u":"does-xoom-provide-next-day-credit-for-transfers-to-india","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-07-01","x":"The would presumably use pre-funding, i.e. they would maintain a balance in an Indian bank and then do a interbank funds…"},{"t":"What are common compliance-related reasons banks reject wire transfers?","u":"what-are-common-compliance-related-reasons-banks-reject-wire-transfers","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Large International Transfers"],"p":[],"d":"2015-07-01","x":"There can be many reasons for this, best to ask your bank. Some points that come to mind: The intermediary bank require…"},{"t":"What does a domestic wire transfer actually cost a bank to execute behind the scenes?","u":"what-does-a-domestic-wire-transfer-actually-cost-a-bank-to-execute-behind-the-scenes","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Payment Clearing"],"p":["Americas","Developed Markets"],"d":"2015-06-12","x":"The US does not have a central real-time settlement switch to which all banks are connected. The closest analog the US…"},{"t":"Would Cuba’s economy improve significantly if the U.S. embargo were lifted?","u":"would-cubas-economy-improve-significantly-if-the-us-embargo-were-lifted","c":"Sanctions, Embargoes and Screening","s":["Embargoes","Sanctioned Countries"],"p":["Americas","Cuba"],"d":"2015-06-12","x":"Think Cuban cigars being exported to the US legally. One of the largest cigar smoking markets in the world, I think Cuba…"},{"t":"If the SWIFT code is entered incorrectly, how long does it usually take for an international wire to bounce back?","u":"if-the-swift-code-is-entered-incorrectly-how-long-does-it-usually-take-for-an-international-wire-to","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2015-06-12","x":"About a day or so in general. However, most of the time the bank will let the money sit there, for it is free float,…"},{"t":"How would you convince a government to accept Bitcoin and recognize it as a legal commodity?","u":"how-would-you-convince-a-government-to-accept-bitcoin-and-recognize-it-as-a-legal-commodity","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulatory Change"],"p":["Bitcoin"],"d":"2015-06-12","x":"You don\u0026#39;t convince the national government per se, what you have to do is to convince the financial regulator to allow…"},{"t":"Many Wall Street figures face pending cases for fraud or money laundering but remain free—is this due to their power, and would jailing them do more harm than good?","u":"many-wall-street-figures-face-pending-cases-for-fraud-or-money-laundering-but-remain-freeis-this-due","c":"Money Laundering and Financial Crime","s":["Financial Crime","Money Laundering"],"p":[],"d":"2015-06-11","x":"From an AML (Anti-Money Laundering) point of view, making a case and then prosecuting it successfully is a technical and…"},{"t":"What advantages does using Bitcoin provide compared with holding funds in a Swiss bank account?","u":"what-advantages-does-using-bitcoin-provide-compared-with-holding-funds-in-a-swiss-bank-account","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin","Switzerland"],"d":"2015-06-11","x":"Needless to say, it all depends on your transactional information. Swiss Banking is not 100% anonymous. It is still…"},{"t":"How do countries repay debts worth millions, and is the money moved electronically or physically?","u":"how-do-countries-repay-debts-worth-millions-and-is-the-money-moved-electronically-or-physically","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Ledgers"],"p":["British Pound Sterling","Greece"],"d":"2015-06-11","x":"It is a little difficult to explain to a first time user, but trust me, it is no rocket science. It is just a concept,…"},{"t":"Are there infographic-style “periodic tables” that explain money concepts?","u":"are-there-infographic-style-periodic-tables-that-explain-money-concepts","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Infographics","Diagrams"],"p":[],"d":"2015-06-10","x":"This is a self-authored Periodic Table of Remittances (Money Transfer) The high-resolution version can be seen here…"},{"t":"Why do extremely poor countries often remain extremely poor despite continuous foreign aid and support?","u":"why-do-extremely-poor-countries-often-remain-extremely-poor-despite-continuous-foreign-aid-and-suppo","c":"Economics, Inflation and Monetary Policy","s":["Macroeconomics","Economic Trends"],"p":[],"d":"2015-06-10","x":"There are many answers and views to this. Here are mine: Taxation: Poor tax collection. Poor Allocations: The Tax…"},{"t":"Online Payments: Why isn’t Adyen more widely known in Silicon Valley?","u":"online-payments-why-isnt-adyen-more-widely-known-in-silicon-valley","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":["EMEA","Europe"],"d":"2015-06-09","x":"Simply because its Dutch, and its not a US VC funded company. There are many companies that are much larger in scale…"},{"t":"Will Facebook be able to significantly disrupt the online payments industry?","u":"will-facebook-be-able-to-significantly-disrupt-the-online-payments-industry","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Industry Insights"],"p":[],"d":"2015-06-09","x":"Disrupt? Sure, really four companies have the power to disrupt payments today (in no particular order): Google Amazon…"},{"t":"I want to build a payment gateway in a developing country—what software options are available?","u":"i-want-to-build-a-payment-gateway-in-a-developing-countrywhat-software-options-are-available","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2015-06-09","x":"If honestly you\u0026#39;re going to ask that question, then you\u0026#39;re not informed much. I don\u0026#39;t mean to hammer you down, but…"},{"t":"How much do bank exchange rates deviate from mid-market rates like those shown on XE.com?","u":"how-much-do-bank-exchange-rates-deviate-from-mid-market-rates-like-those-shown-on-xecom","c":"FX Rates, Spreads and Currency Markets","s":["Exchange Rates","Currency Exchange"],"p":[],"d":"2015-06-09","x":"It all depends on the market and the currency concerned. For competitive conversions, the difference is usually between:…"},{"t":"If I run an online service connecting the U.S. with Africa, do I need a separate money-transmitter license in each U.S. state?","u":"if-i-run-an-online-service-connecting-the-us-with-africa-do-i-need-a-separate-money-transmitter-lice","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","State-by-State MTL Requirements"],"p":["Africa","Americas"],"d":"2015-06-08","x":"No. As a company based out of Africa, you do not need to have money transmitter licenses, nor would you (perhaps)…"},{"t":"What payment gateway is recommended for a mobile e-commerce app based in Dubai?","u":"what-payment-gateway-is-recommended-for-a-mobile-e-commerce-app-based-in-dubai","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["EMEA","GCC"],"d":"2015-06-08","x":"What payment gateway is recommended for a mobile e-commerce app based in Dubai?"},{"t":"What tracking occurs when sending money through Western Union or MoneyGram?","u":"what-tracking-occurs-when-sending-money-through-western-union-or-moneygram","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2015-06-08","x":"Yes an ID is required for a Cash-Over-the-Counter (COC) transaction. You may be required for a supplementary ID as well.…"},{"t":"International Trade: What fraud risks should buyers watch for in letter-of-credit payments for imports from China?","u":"international-trade-what-fraud-risks-should-buyers-watch-for-in-letter-of-credit-payments-for-import","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Letters of Credit","Import Payments"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-06-08","x":"For starters, since you\u0026#39;ve used a pre-shipment inspection service, that itself will reduce the chances of receiving…"},{"t":"If I want to authorize a card for payment but only charge after the service is delivered, is “tokenization” the correct term for this process?","u":"if-i-want-to-authorize-a-card-for-payment-but-only-charge-after-the-service-is-delivered-is-tokeniza","c":"Payments (General)","s":["Payment Terminology","Payment Basics"],"p":[],"d":"2015-06-07","x":"Tokenization is something completely different. I agree with Bozo Juretic that authorization and capture is the…"},{"t":"How might Ripple’s payments network impact PayPal and Stripe?","u":"how-might-ripples-payments-network-impact-paypal-and-stripe","c":"Business Strategy, Case Studies and Lessons Learned","s":["Competitive Analysis","Industry Insights"],"p":[],"d":"2015-06-07","x":"Well Ripple (since being a financial protocol in some sense) would allow any economy and/or ecosystem to use Ripple to…"},{"t":"Which Pakistani banks provide free interbank fund transfers through online banking?","u":"which-pakistani-banks-provide-free-interbank-fund-transfers-through-online-banking","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Payment Interoperability"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-06-07","x":"Standard Chartered Bank (SCB) used to offer it, they still might. Check them out."},{"t":"How can banks better protect customers from identity-theft fraudsters?","u":"how-can-banks-better-protect-customers-from-identity-theft-fraudsters","c":"Fraud and Scams","s":["Fraud Prevention","Fraud Detection"],"p":[],"d":"2015-06-06","x":"Tellers are semi-trained to spot fake IDs, but don\u0026#39;t hold your breath. In most cases, if a bank mildly suspects an ID is…"},{"t":"What legal and regulatory challenges have payments, credit, and funding startups encountered or expect to face?","u":"what-legal-and-regulatory-challenges-have-payments-credit-and-funding-startups-encountered-or-expect","c":"AML Programs, KYC and Compliance Operations","s":["Compliance Costs","High-Risk Industries Compliance"],"p":[],"d":"2015-06-06","x":"The most common regulatory issue startups and/or payment providers, et. al. face is regulatory compliance (after…"},{"t":"What are the biggest threats facing the ACH (automated clearing house) system, and why?","u":"what-are-the-biggest-threats-facing-the-ach-automated-clearing-house-system-and-why","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Clearing"],"p":[],"d":"2015-06-05","x":"Don\u0026#39;t laugh, but payment solutions like Dwolla are a threat to the ACH system. Not the company Dwolla per se, but the…"},{"t":"Can Visa prepaid cards be used for online purchases?","u":"can-visa-prepaid-cards-be-used-for-online-purchases","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards"],"p":[],"d":"2015-06-05","x":"Can Visa prepaid cards be used for online purchases?"},{"t":"Which notable startups were founded and are run by women?","u":"which-notable-startups-were-founded-and-are-run-by-women","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2015-06-05","x":"User , Founder \u0026amp; CEO of CoinX (See: Coinx )"},{"t":"How do I compute value-added tax (VAT) for a transaction?","u":"how-do-i-compute-value-added-tax-vat-for-a-transaction","c":"Tax and Financial Reporting","s":["Tax","Taxation of Payments"],"p":["United States Dollar"],"d":"2015-06-05","x":"First you have to find out how much the VAT is. For example if it is 18% you simply multiple your Price by 1.18 to get…"},{"t":"What benefits does a Visa prepaid card offer compared with a standard gift card?","u":"what-benefits-does-a-visa-prepaid-card-offer-compared-with-a-standard-gift-card","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards","Gift Cards"],"p":[],"d":"2015-06-05","x":"A regular gift card, would most likely be a closed loop card, i.e. it would work only within the confines of a…"},{"t":"What solutions or tips can help small businesses avoid high credit-card processing fees?","u":"what-solutions-or-tips-can-help-small-businesses-avoid-high-credit-card-processing-fees","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Card Processing Pricing"],"p":[],"d":"2015-06-05","x":"Pass the charge to the customer. That\u0026#39;s usually the way most small businesses with tight margins do. They prefer cash or…"},{"t":"What makes an ACH account number unique in the United States?","u":"what-makes-an-ach-account-number-unique-in-the-united-states","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":["Americas","Developed Markets"],"d":"2015-06-05","x":"ACH or ACH is a methodology on how electronically submitted cheques are cleared. There is no ACH Account Number per se.…"},{"t":"Legal (U.S.): After the Liberty Reserve arrests, how did their violations differ from the accusations made against HSBC?","u":"legal-us-after-the-liberty-reserve-arrests-how-did-their-violations-differ-from-the-accusations-made","c":"Regulators, Enforcement and Regulatory Change","s":["Regulatory Enforcement","Regulation"],"p":["Americas","Developed Markets"],"d":"2015-06-05","x":"Liberty Reserve was/is being punished, because the US Financial Regulators wish to do so. There are other businesses…"},{"t":"What is the intended purpose or benefit of establishing a women’s bank in India?","u":"what-is-the-intended-purpose-or-benefit-of-establishing-a-womens-bank-in-india","c":"Emerging Markets and Financial Inclusion","s":["Women and Finance","Financial Inclusion"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-06-05","x":"Nothing. Furthermore, I agree with you, the First Women\u0026#39;s Bank Limited setup in Pakistan is essentially window-dressing…"},{"t":"Why is a one-time password (OTP) required for nearly all banking activities in India?","u":"why-is-a-one-time-password-otp-required-for-nearly-all-banking-activities-in-india","c":"Cybersecurity, Digital Identity and Authentication","s":["One-Time Passwords (OTP)","Authentication"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-06-05","x":"For security. People are just too easily fooled or otherwise cannot take care of their banking log-in credentials.…"},{"t":"Are Visa and Mastercard owned by the same company?","u":"are-visa-and-mastercard-owned-by-the-same-company","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Visa"],"p":["United States"],"d":"2015-06-05","x":"Nope. They are competitors. They are two separate entities, with both VISA and Mastercard being American companies, (and…"},{"t":"What fee does ACH (the automated clearing house) typically charge per transaction?","u":"what-fee-does-ach-the-automated-clearing-house-typically-charge-per-transaction","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2015-06-04","x":"Wholesale, 10-12 cents, mid-volume, 20-25 cents, small-low volume, anywhere from 25-50-60-75 cents."},{"t":"What changes could make developing countries more friendly to startups, and why are they currently less so?","u":"what-changes-could-make-developing-countries-more-friendly-to-startups-and-why-are-they-currently-le","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance"],"p":[],"d":"2015-06-04","x":"Incubators, Accelerators and Mentoring programs. That is what I have been told. If a country does not have properly run…"},{"t":"How hard would it be to create an online-only card network like Visa or MasterCard focused just on internet payments?","u":"how-hard-would-it-be-to-create-an-online-only-card-network-like-visa-or-mastercard-focused-just-on-i","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Visa"],"p":[],"d":"2015-06-04","x":"Barring the regulatory element of it all, i.e. licensing and banking, your main issues would be two (there are many…"},{"t":"Is the rising mobile-banking model led by mobile network operators a real threat to traditional banks?","u":"is-the-rising-mobile-banking-model-led-by-mobile-network-operators-a-real-threat-to-traditional-bank","c":"Emerging Markets and Financial Inclusion","s":["Financial Inclusion","Unbanked"],"p":[],"d":"2015-06-04","x":"It is not unconventional per se. Clearly, everywhere else in the world, there is a need for banking people who are…"},{"t":"Which POS terminal is currently the most advanced on the market?","u":"which-pos-terminal-is-currently-the-most-advanced-on-the-market","c":"Merchant Accounts, Processors and Gateways","s":["Point of Sale (POS)","POS Terminals"],"p":["Africa","Asia"],"d":"2015-06-04","x":"Here is a Smart POS Terminal that is being specifically developed for the South Asian \u0026amp; African Markets with which I am…"},{"t":"Where can I find legal consultancy specializing in money transfer businesses?","u":"where-can-i-find-legal-consultancy-specializing-in-money-transfer-businesses","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Money Transmission Law","Financial Services Law"],"p":[],"d":"2015-06-04","x":"All over the place, plenty at Perkins Coie, Adam Atlas, Marco Santori (Pillsbury Law), Judith Rinearson (Bryan Cave).…"},{"t":"Does Stripe support ACH bank payments in addition to card transactions?","u":"does-stripe-support-ach-bank-payments-in-addition-to-card-transactions","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2015-06-03","x":"As of 17th March 2014. They do not. Does Stripe allow e-check (ACH) bank transfer payments?"},{"t":"How are payments drawn from a checking account authorized and approved?","u":"how-are-payments-drawn-from-a-checking-account-authorized-and-approved","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Direct Debit"],"p":[],"d":"2015-06-03","x":"Theoretically you could, but the ACH processor that is pulling the payment, would require authorization (some form of a…"},{"t":"Could e-commerce operate without online payments, and if so, what alternatives would be used?","u":"could-e-commerce-operate-without-online-payments-and-if-so-what-alternatives-would-be-used","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Alternative Payment Methods"],"p":[],"d":"2015-06-03","x":"Cash-On-Delivery or Pay by Direct Deposit (or Mobile Payments). Such a methodology has many names. Google calls it ROPO…"},{"t":"Could using Bitcoin in a money exchange business lead to arrest?","u":"could-using-bitcoin-in-a-money-exchange-business-lead-to-arrest","c":"Crypto and VASP Licensing","s":["Crypto Regulation","Starting a Crypto Exchange or VASP"],"p":["Bitcoin"],"d":"2015-06-03","x":"Depends in which country this is and what sort of law they can slap on you. In any market you operate in, you have three…"},{"t":"How can a physical calling card business expand into the money transfer industry?","u":"how-can-a-physical-calling-card-business-expand-into-the-money-transfer-industry","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Starting a Remittance Business"],"p":[],"d":"2015-06-03","x":"Almost anywhere in the world, you cannot unilaterally expand your calling card business and offer money transfer…"},{"t":"What are the realistic chances of a startup becoming the next PayPal?","u":"what-are-the-realistic-chances-of-a-startup-becoming-the-next-paypal","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":[],"d":"2015-06-03","x":"Anyone can start the next PayPal, the question you need to be asking yourself, what problem are you attempting to solve?…"},{"t":"What does a time-and-motion flow-of-funds diagram look like for a money transfer company?","u":"what-does-a-time-and-motion-flow-of-funds-diagram-look-like-for-a-money-transfer-company","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":[],"d":"2015-06-03","x":"Here is what a stepped time-motion diagram for money transfer (for an online business) would look like, this is based on…"},{"t":"Can a personal bank account be converted into a business account?","u":"can-a-personal-bank-account-be-converted-into-a-business-account","c":"Opening Bank Accounts, Personal and Business","s":["Business Bank Accounts","Account Structures"],"p":[],"d":"2015-06-03","x":"There is no conversion process per se, the two accounts are two different products. You can, however, open a business…"},{"t":"Which website builder platforms accept Bitcoin as payment?","u":"which-website-builder-platforms-accept-bitcoin-as-payment","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2015-06-02","x":"Quite a few websites. BitPay , for example has a directory of companies that accept Bitcoins: Bitcoin Directory | BitPay…"},{"t":"When are Facebook mobile payments expected to launch in Europe?","u":"when-are-facebook-mobile-payments-expected-to-launch-in-europe","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":["Developed Markets","EMEA"],"d":"2015-06-02","x":"Expect it to be launched in Europe before Christmas 2015."},{"t":"Are there banks or accounts where account balances can be viewed publicly?","u":"are-there-banks-or-accounts-where-account-balances-can-be-viewed-publicly","c":"How Banks Work","s":["Banks","Bank Records"],"p":[],"d":"2015-06-02","x":"No. Banking Secrecy Laws in almost every conceivable country, ensure that access to financial data of it\u0026#39;s (bank\u0026#39;s)…"},{"t":"From a beginner’s perspective, how does arbitrage between different Bitcoin exchanges work?","u":"from-a-beginners-perspective-how-does-arbitrage-between-different-bitcoin-exchanges-work","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Arbitrage","Crypto Trading"],"p":["Bitcoin","United States Dollar"],"d":"2015-06-01","x":"Assuming we don\u0026#39;t consider the fees (as that varies from exchange to exchange), the process is pretty simple. However,…"},{"t":"What is the best way to carry money when traveling to the United States?","u":"what-is-the-best-way-to-carry-money-when-traveling-to-the-united-states","c":"Payments (General)","s":["Choosing a Payment Method","Payment Methods"],"p":["Americas","Developed Markets"],"d":"2015-06-01","x":"Cash should be under US$ 10,000. If you are carrying US$ 9,996 you are not obligated to tell the customs official, but…"},{"t":"Is the use of signatures for payment authentication becoming obsolete?","u":"is-the-use-of-signatures-for-payment-authentication-becoming-obsolete","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Biometrics"],"p":["Belgium","EMEA"],"d":"2015-06-01","x":"Dead? No. Dying, Yes (isn\u0026#39;t everything?) Will it be around for the next 5-10 years: for sure. Unbeknownst to many…"},{"t":"What is likely to be the next major cryptocurrency?","u":"what-is-likely-to-be-the-next-major-cryptocurrency","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Speculation","Crypto Trading"],"p":[],"d":"2015-05-12","x":"Universal Acceptance. Seriously! Right now, cryptocurrencies are out of reach for many. They are not understood well,…"},{"t":"How are very large sums held and moved within the United States?","u":"how-are-very-large-sums-held-and-moved-within-the-united-states","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Wire Transfers"],"p":["Americas","Developed Markets"],"d":"2015-05-12","x":"For any sporting (read: commercial) arrangements, there is a designated bank that is providing escrow \u0026amp; temporary…"},{"t":"How can banking machines be designed to better capture and hold customer attention?","u":"how-can-banking-machines-be-designed-to-better-capture-and-hold-customer-attention","c":"Business Strategy, Case Studies and Lessons Learned","s":["Customer Experience in Finance"],"p":[],"d":"2015-05-12","x":"Deploy one of these. Virtual Telepresence Robots , who can roll-up to customers, size them up on their requirements and…"},{"t":"Should Bitcoin transactions be fully untraceable?","u":"should-bitcoin-transactions-be-fully-untraceable","c":"Regulators, Enforcement and Regulatory Change","s":["Regulatory Policy Debates","Regulation"],"p":["Bitcoin"],"d":"2015-05-12","x":"No If you want Bitcoins to become mainstream and to be used in this world, they ought not to be untraceable. This is the…"},{"t":"Would an account-to-account transfer for online payments be classified as an e-money transaction?","u":"would-an-account-to-account-transfer-for-online-payments-be-classified-as-an-e-money-transaction","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["E-Money","E-Money Directive"],"p":[],"d":"2015-05-12","x":"Depends, but I\u0026#39;d go with a No. E-Money in most places (regulators) is classified as stored-value . Are you moving stored…"},{"t":"Why do money transfers take 3–5 business days—what manual or human processes are involved?","u":"why-do-money-transfers-take-35-business-dayswhat-manual-or-human-processes-are-involved","c":"International Wire Transfers and Large Transfers","s":["Wire Transfer Delays and Tracing","International Wire Transfers"],"p":[],"d":"2015-05-12","x":"I think everyone clearly has presented their best answers and indeed these reasons are correct. Think of sending money…"},{"t":"How do ATM CCTV systems identify customers in places where women wear burqas that cover their faces?","u":"how-do-atm-cctv-systems-identify-customers-in-places-where-women-wear-burqas-that-cover-their-faces","c":"Cybersecurity, Digital Identity and Authentication","s":["Biometrics","Authentication"],"p":[],"d":"2015-05-12","x":"The camera is special. When a veiled woman approaches, it switches to infrared and then can see through the cloth and…"},{"t":"If I’m optimistic about digital currencies, is it better to mine coins or simply buy them?","u":"if-im-optimistic-about-digital-currencies-is-it-better-to-mine-coins-or-simply-buy-them","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2015-05-11","x":"I think User sums it up well. If you are specifically referring to Bitcoins, I\u0026#39;d say sure, go ahead. Bitcoins are being…"},{"t":"What are some notable companies building products or services around Bitcoin?","u":"what-are-some-notable-companies-building-products-or-services-around-bitcoin","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2015-05-11","x":"Bitpay for sure, the company that makes accepting Bitcoins on your website as easy as 1-2-3. See: Accept Bitcoin |…"},{"t":"Can a money-transfer startup partner with a bank, and how does that typically work?","u":"can-a-money-transfer-startup-partner-with-a-bank-and-how-does-that-typically-work","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Starting a Remittance Business"],"p":["United States"],"d":"2015-05-10","x":"There are many ways to get started in the Money Transfer business, and it all depends where in the world you are. From a…"},{"t":"I’m launching a business but I can’t handle payouts, fraud, chargebacks, AML compliance, PCI compliance, and buyer/seller disputes—are there payment platforms that take on these burdens?","u":"im-launching-a-business-but-i-cant-handle-payouts-fraud-chargebacks-aml-compliance-pci-compliance-an","c":"Merchant Accounts, Processors and Gateways","s":["Payment Service Providers (PSP)","Payment Processors"],"p":[],"d":"2015-05-10","x":"Sure, this is what a good Payment Service Provider does. Checkout WePay, Braintree, Balanced and Stripe. They all…"},{"t":"Why do people choose to fund projects on Kickstarter?","u":"why-do-people-choose-to-fund-projects-on-kickstarter","c":"Alternative Finance and Crowdfunding","s":["Crowdfunding","Crowdfunding Platforms"],"p":[],"d":"2015-05-10","x":"Why do people choose to fund projects on Kickstarter?"},{"t":"Are today’s mobile POS solutions sustainable long term, and what do they imply for banks?","u":"are-todays-mobile-pos-solutions-sustainable-long-term-and-what-do-they-imply-for-banks","c":"Merchant Accounts, Processors and Gateways","s":["Point of Sale (POS)","POS Terminals"],"p":["Africa","South Asia"],"d":"2015-05-09","x":"I think the way we are currently paying with our cards, in the near future this would be deemed as an antiquated method…"},{"t":"What are the latest U.S. and global statistics for consumer-to-consumer wire transfers?","u":"what-are-the-latest-us-and-global-statistics-for-consumer-to-consumer-wire-transfers","c":"Payment Corridors and Remittance Economics","s":["Remittance Data","Remittance Statistics"],"p":[],"d":"2015-05-09","x":"No one knows. The World Bank Group on Remittances has been pleading with regulators for years to get more visibility…"},{"t":"Would an ISIS-issued currency be accepted globally?","u":"would-an-isis-issued-currency-be-accepted-globally","c":"Geopolitics of Money and the International Monetary System","s":["Monetary Systems","Geopolitics of Money"],"p":[],"d":"2015-05-09","x":"For a currency to be accepted worldwide, its monetary and banking system has to be accepted worldwide. If the latter…"},{"t":"Is Payoneer licensed as a money transmitter in every U.S. state?","u":"is-payoneer-licensed-as-a-money-transmitter-in-every-us-state","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["California","Hawaii"],"d":"2015-05-09","x":"No. Not all the States. They do posses money transmitter licenses in most States but not all. For example Hawaii they…"},{"t":"Could Pakistan follow Bangladesh’s approach and declare Bitcoin trading illegal?","u":"could-pakistan-follow-bangladeshs-approach-and-declare-bitcoin-trading-illegal","c":"Crypto and VASP Licensing","s":["Crypto Regulation"],"p":["Bangladesh","Bitcoin"],"d":"2015-05-09","x":"Yes . They could. State Bank of Pakistan has not yet given an opinion on cryptocurrencies yet. State Bank has been asked…"},{"t":"Why don’t banks and card processors let users restrict account access by IP location or country for extra security?","u":"why-dont-banks-and-card-processors-let-users-restrict-account-access-by-ip-location-or-country-for-e","c":"Card Networks and Card Issuing","s":["Card Authorization","Card Issuing"],"p":[],"d":"2015-05-08","x":"They cannot, because the current format for authorization does not include IP information. The processor can check based…"},{"t":"Do U.S. companies use web-based electronic checks, and which payment gateways support them?","u":"do-us-companies-use-web-based-electronic-checks-and-which-payment-gateways-support-them","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Americas","Developed Markets"],"d":"2015-05-07","x":"Almost any processor that advertises ACH is doing this. Bancbox and Forte Payments are two names that instantly come to…"},{"t":"Why do only certain websites require an extra 3-D Secure authentication step during online payments?","u":"why-do-only-certain-websites-require-an-extra-3-d-secure-authentication-step-during-online-payments","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Data Security"],"p":[],"d":"2015-05-07","x":"3-D Secure is an added security feature that you can opt for (if offered by) your Payment Service provider. You can opt…"},{"t":"Who are the top five global payments companies?","u":"who-are-the-top-five-global-payments-companies","c":"Payments (General)","s":["Payment Industry Overview","Payment Products"],"p":[],"d":"2015-05-07","x":"Who are the top five global payments companies?"},{"t":"Which banks and account types currently offer the highest interest rates?","u":"which-banks-and-account-types-currently-offer-the-highest-interest-rates","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Saving"],"p":[],"d":"2015-05-07","x":"Most banks offer mutual funds, and depending on the type of mutual fund you invest with, the returns can be as high as…"},{"t":"Banking: How often do foreign workers in the U.S. lose a large share of their earnings due to banking and transfer fees?","u":"banking-how-often-do-foreign-workers-in-the-us-lose-a-large-share-of-their-earnings-due-to-banking-a","c":"Sending and Receiving Money Abroad","s":["Outward Remittances","All-In Cost of Transfers"],"p":["Developed Markets","Ghana"],"d":"2015-05-07","x":"Depends on the income. If you\u0026#39;re earning US$ 300-500, then the income fees can be a noticeable portion of your income…"},{"t":"What would be a strong research-paper topic related to money or financial problems?","u":"what-would-be-a-strong-research-paper-topic-related-to-money-or-financial-problems","c":"General Finance Questions","s":["General Finance Questions"],"p":["Bitcoin"],"d":"2015-05-06","x":"There can be so many, some that I could suggest would be: Flow of money in a given ecosystem, for example you could…"},{"t":"What would you consider the ideal payment method at a retail checkout that could replace cash?","u":"what-would-you-consider-the-ideal-payment-method-at-a-retail-checkout-that-could-replace-cash","c":"Payments (General)","s":["Payment Methods","Choosing a Payment Method"],"p":[],"d":"2015-05-05","x":"What would you consider the ideal payment method at a retail checkout that could replace cash?"},{"t":"If a bank quietly added one cent to every customer’s account balance, what would happen?","u":"if-a-bank-quietly-added-one-cent-to-every-customers-account-balance-what-would-happen","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","Ledger Design"],"p":[],"d":"2015-05-05","x":"The database records are not open for manipulation. The core banking software ensures that. Even if you were to somehow…"},{"t":"How difficult is it to obtain a money transmitter license?","u":"how-difficult-is-it-to-obtain-a-money-transmitter-license","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["California","New York"],"d":"2015-05-05","x":"In addition to what other have cited, I\u0026#39;d like to add it is just a difficult process, one that requires money, patience…"},{"t":"What exactly is a chargeback in payments?","u":"what-exactly-is-a-chargeback-in-payments","c":"Credit, Debit and Prepaid Cards","s":["Chargebacks","Card Disputes"],"p":[],"d":"2015-05-05","x":"Its when the credit-card users informs his/her issuing bank to reverse a charge (or challenge a charge) because either…"},{"t":"What are some successful mobile payment solutions, and what factors contributed to their success?","u":"what-are-some-successful-mobile-payment-solutions-and-what-factors-contributed-to-their-success","c":"Emerging Markets and Financial Inclusion","s":["Emerging Market Economies","Financial Inclusion"],"p":["Emerging Markets","Global South"],"d":"2015-05-05","x":"In addition to M-Pesa, there is EasyPaisa in Pakistan, which also allows millions of Telenor customers to buy/pay/send…"},{"t":"What are some examples of Bitcoin exchanges?","u":"what-are-some-examples-of-bitcoin-exchanges","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Bitcoin","United States"],"d":"2015-05-05","x":"CoinX - Coinx - Probably the only legal (licensed) exchange in the US."},{"t":"Which U.S. states contribute the least federal tax revenue?","u":"which-us-states-contribute-the-least-federal-tax-revenue","c":"Tax and Financial Reporting","s":["Tax","Financial Management"],"p":["United States","Vermont"],"d":"2015-05-05","x":"Vermont; Source: Federal tax revenue by state"},{"t":"Can Visa debit cards with a Pakistani billing address be used for online shopping?","u":"can-visa-debit-cards-with-a-pakistani-billing-address-be-used-for-online-shopping","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-05-05","x":"Two things here: You need to ask Faysal Bank or SCB to open your card for Internet transactions. If that fails, then...…"},{"t":"How can money laundering involving as much as $6 billion occur?","u":"how-can-money-laundering-involving-as-much-as-6-billion-occur","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":["Costa Rica","New York"],"d":"2015-05-05","x":"There is much more to the Liberty Reserve story than just the money laundering component. There is no doubt that LR in…"},{"t":"Payment Processing: What technologies and systems power gift cards?","u":"payment-processing-what-technologies-and-systems-power-gift-cards","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2015-05-04","x":"Its the very same as that of debit/credit cards. The same analogy of credit (or balance check) is applied towards these…"},{"t":"How does Quicken retrieve information from my bank about my loans and account balances?","u":"how-does-quicken-retrieve-information-from-my-bank-about-my-loans-and-account-balances","c":"Open Banking and Account Aggregation","s":["Account Aggregation","Data Aggregators"],"p":[],"d":"2015-05-04","x":"They use a middleware server that is installed by Mint and connected to all the member banks that Mint has. This is…"},{"t":"Is Mint.com secure to use, and why or why not?","u":"is-mintcom-secure-to-use-and-why-or-why-not","c":"Cybersecurity, Digital Identity and Authentication","s":["Cybersecurity","Data Security"],"p":[],"d":"2015-05-04","x":"Mint.com is safe. The date you see being ported out of your bank account is obfuscated data using the FIX protocol, that…"},{"t":"How did the U.S. and other countries negotiate taking Iranian banks off the SWIFT network?","u":"how-did-the-us-and-other-countries-negotiate-taking-iranian-banks-off-the-swift-network","c":"Sanctions, Embargoes and Screening","s":["Sanctions","Sanctioned Countries"],"p":["European Union","Iran"],"d":"2015-05-04","x":"They did not negotiate per se, it was the result of European Union\u0026#39;s and US sanctions against Iranian banks associated…"},{"t":"Why did Citibank Pakistan discontinue ecommerce gateway services, and what systemic issues make banks reluctant to offer them?","u":"why-did-citibank-pakistan-discontinue-ecommerce-gateway-services-and-what-systemic-issues-make-banks","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Card Payments"],"p":["Asia","Emerging Markets"],"d":"2015-05-03","x":"Internet Payment Gateway Services are coming to Pakistan. It was not that the Banks were hesitant to provide such…"},{"t":"Why do Pakistani banks currently avoid offering merchant accounts for ecommerce businesses?","u":"why-do-pakistani-banks-currently-avoid-offering-merchant-accounts-for-ecommerce-businesses","c":"Merchant Accounts, Processors and Gateways","s":["Merchant Accounts","Payment Gateways"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-05-03","x":"Updating the answer: The following four banks are now providing merchant accounts in Pakistan for online acquiring. NIB…"},{"t":"What’s the best way to move money between two bank accounts using cryptocurrency as an intermediate token, ideally at near-zero cost?","u":"whats-the-best-way-to-move-money-between-two-bank-accounts-using-cryptocurrency-as-an-intermediate-t","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Remittances"],"p":[],"d":"2015-05-03","x":"Ripple and Stellar are both designed explicitly for this purpose. Hand-in-glove-fit. So Joel Yarbrough cites it well.…"},{"t":"Is there any way to create a PayPal account from Pakistan?","u":"is-there-any-way-to-create-a-paypal-account-from-pakistan","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Peer-to-Peer Payments"],"p":["Asia","Indian Subcontinent"],"d":"2015-05-03","x":"No really, No. There are hacks all over the internet. Using Dubai address, or using Payoneer card and family\u0026#39;s address…"},{"t":"What are the requirements for becoming a Western Union agent?","u":"what-are-the-requirements-for-becoming-a-western-union-agent","c":"Money Transfer Business and MTOs","s":["Western Union","Money Transfer Operators (MTO)"],"p":[],"d":"2015-05-03","x":"WU agent requirements differ from country to country. The basics are the same. You fill out an application, and you need…"},{"t":"Who are the top remittance aggregators, and how do they generate revenue?","u":"who-are-the-top-remittance-aggregators-and-how-do-they-generate-revenue","c":"Money Transfer Business and MTOs","s":["Remittance Aggregators","MTO Economics"],"p":[],"d":"2015-05-03","x":"Remittance aggregators are those who essentially cater to the home-remittance market and specialize in cross-border…"},{"t":"Can a digital currency be backed by or integrated with a commodity like gold?","u":"can-a-digital-currency-be-backed-by-or-integrated-with-a-commodity-like-gold","c":"Stablecoins and CBDCs","s":["Stablecoin Reserves","Stablecoin Issuance"],"p":[],"d":"2015-05-03","x":"Joseph Wang sums it well. Most of the companies that I talk to, who are trying to integrate gold with their own…"},{"t":"What opportunities and growth potential does Bitcoin have in Asia?","u":"what-opportunities-and-growth-potential-does-bitcoin-have-in-asia","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Remittances"],"p":["ASEAN","Asia"],"d":"2015-05-02","x":"Huge! Humongous! Enormous! Did I say immense potential? Bitcoin has a huge potential for inter-country payments in the…"},{"t":"What are some interesting or notable facts about the creator “Satoshi Nakamoto”?","u":"what-are-some-interesting-or-notable-facts-about-the-creator-satoshi-nakamoto","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2015-05-02","x":"That out there, there is a genuine person named Satoshi Nakamoto who probably has a blog, or some form of an online…"},{"t":"Are prepaid debit cards a good way to avoid reliance on traditional banks?","u":"are-prepaid-debit-cards-a-good-way-to-avoid-reliance-on-traditional-banks","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards","Debit Cards"],"p":[],"d":"2015-05-02","x":"What\u0026#39;s the definition of a traditional bank? If you imply, the branch, the cheque book, the loans and mortgage offers,…"},{"t":"Why would a consumer prefer to pay with Bitcoin instead of credit cards, debit cards, or PayPal?","u":"why-would-a-consumer-prefer-to-pay-with-bitcoin-instead-of-credit-cards-debit-cards-or-paypal","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2015-05-02","x":"To cite a personal example: I\u0026#39;d be wary of using my Debit Card online anywhere as the layer between the debit card and…"},{"t":"What key innovations are needed for cryptocurrencies to reach mainstream adoption?","u":"what-key-innovations-are-needed-for-cryptocurrencies-to-reach-mainstream-adoption","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2015-05-02","x":"The necessary innovations in my perspective would be: Easy to Buy/Sell Bitcoins (make it as easy as loading money on to…"},{"t":"Is there a historical or current example of a country recognizing two currencies as legal tender at the same time?","u":"is-there-a-historical-or-current-example-of-a-country-recognizing-two-currencies-as-legal-tender-at","c":"History of Money, Banking and Finance","s":["History of Money"],"p":["British Pound Sterling","Euro"],"d":"2015-05-02","x":"Maldives, where the Maldivian Rupiah is accepted as the country\u0026#39;s legal fiat currency as well as the US Dollar, British…"},{"t":"What fees do banks pay to connect to ATM networks or per ATM transaction?","u":"what-fees-do-banks-pay-to-connect-to-atm-networks-or-per-atm-transaction","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Operations"],"p":[],"d":"2015-05-01","x":"It depends which part of the world you are in and how the interbank network connectivity arrangements are handled. Most…"},{"t":"Which aspects of Bitcoin appeal most to everyday, non-technical users?","u":"which-aspects-of-bitcoin-appeal-most-to-everyday-non-technical-users","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2015-05-01","x":"The people I have talked to, usually don\u0026#39;t get the 21 Million limited production of Bitcoins, or the 100th of a Million…"},{"t":"Who is best positioned to disrupt the money-transfer market using Bitcoin?","u":"who-is-best-positioned-to-disrupt-the-money-transfer-market-using-bitcoin","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":["Bitcoin","Emerging Markets"],"d":"2015-05-01","x":"There are no easy answers to this question. It would be highly speculative (at best) to try to name a company that would…"},{"t":"Online Banking: What’s a good way to programmatically create virtual savings “buckets” for users?","u":"online-banking-whats-a-good-way-to-programmatically-create-virtual-savings-buckets-for-users","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Industry","Banking-as-a-Service (BaaS)"],"p":["Americas","Developed Markets"],"d":"2015-05-01","x":"I doubt any US bank would allow you to do a carte-blanche user sign-up via an API. What they will do (considering you…"},{"t":"In which U.S. state is it easiest to obtain a state banking license?","u":"in-which-us-state-is-it-easiest-to-obtain-a-state-banking-license","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensing Applications","Jurisdiction Selection"],"p":["California","New York"],"d":"2015-05-01","x":"Generally if you\u0026#39;re not looking at California, Texas or New York, you relatively have a much easier task at hand. Each\u0026#39;s…"},{"t":"Online Banking: What does the future of internet-based finance look like?","u":"online-banking-what-does-the-future-of-internet-based-finance-look-like","c":"Digital Banks, Neobanks and Mobile Banking","s":["Digital Banks"],"p":[],"d":"2015-04-12","x":"The potential future of Internet Banking is extremely promising, however, it should not just be limited to the internet…"},{"t":"Does FATCA apply to people with dual citizenship?","u":"does-fatca-apply-to-people-with-dual-citizenship","c":"Tax and Financial Reporting","s":["FATCA","International Tax"],"p":["United States"],"d":"2015-04-12","x":"Yes it does. The rules are simple, if you hold a US Citizenship, its applicable to you. Its irrelevant if you have other…"},{"t":"What makes Bitcoin attractive or special compared with traditional options?","u":"what-makes-bitcoin-attractive-or-special-compared-with-traditional-options","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2015-04-11","x":"One thing interesting I find about Bitcoins is that all transactions are transparent in the ledger, i.e. any transaction…"},{"t":"How does International ACH function?","u":"how-does-international-ach-function","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":["United States"],"d":"2015-04-11","x":"International ACH is simply the ability to do international transfers, with direct account credit. There are many ways…"},{"t":"What ever happened to Thomas Cremer’s multi-billion-dollar plan to build the world’s tallest tower in Karachi?","u":"what-ever-happened-to-thomas-cremers-multi-billion-dollar-plan-to-build-the-worlds-tallest-tower-in","c":"General Finance Questions","s":["General Finance Questions","Uncategorised"],"p":["Asia","Global South"],"d":"2015-04-10","x":"The economic realities are harsh when it comes to Pakistan and tall buildings. Various projects have been shelved…"},{"t":"How do so many Pakistanis have PayPal accounts if PayPal doesn’t operate in Pakistan?","u":"how-do-so-many-pakistanis-have-paypal-accounts-if-paypal-doesnt-operate-in-pakistan","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Getting Paid from Abroad"],"p":["Asia","Indian Subcontinent"],"d":"2015-04-10","x":"Proxy accounts courtesy of friends and family. Self owned account courtesy of a visit outside Pakistan to a country…"},{"t":"How and where can I network with companies that rent or lease money-transmitter licenses?","u":"how-and-where-can-i-network-with-companies-that-rent-or-lease-money-transmitter-licenses","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Principal and Agent Models","Licensable Activities"],"p":[],"d":"2015-04-10","x":"You cannot. Renting and/or Leasing of a Money Transmitter Licenses is strictly not allowed. You can become an Agent of a…"},{"t":"How hard is it to correct a mistaken transaction at a Pakistani bank?","u":"how-hard-is-it-to-correct-a-mistaken-transaction-at-a-pakistani-bank","c":"Consumer Protection, Customer Rights and Customer Service","s":["Complaints and Disputes","Consumer Protection"],"p":["Asia","Global South"],"d":"2015-04-10","x":"An error is an error is an error. It needs to be fixed. Be it small or large. Here is what I would suggest. Document…"},{"t":"What could be the implications if Microsoft applied for MSB (Money Services Business) status?","u":"what-could-be-the-implications-if-microsoft-applied-for-msb-money-services-business-status","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":[],"d":"2015-04-09","x":"I just wrote a post on this, which can be read here: Microsoft Payments: Fashionably Late. The long and short of it can…"},{"t":"Why haven’t Asia-based online remittance startups like TransferWise become prominent?","u":"why-havent-asia-based-online-remittance-startups-like-transferwise-become-prominent","c":"Money Transfer Business and MTOs","s":["Starting a Remittance Business","Digital MTOs"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-04-09","x":"Countries in Asia (well at least a majority of them) are receive only countries. In order to be a start-up, the best way…"},{"t":"Which payment processors can a SaaS startup in Thailand use?","u":"which-payment-processors-can-a-saas-startup-in-thailand-use","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-04-09","x":"SiamPay and AsiaPay are the two I am aware of."},{"t":"Why do acquiring banks for card processing avoid serving money-transfer and remittance businesses, and which acquirers do work with companies like Remitly and WorldRemit?","u":"why-do-acquiring-banks-for-card-processing-avoid-serving-money-transfer-and-remittance-businesses-an","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Bank Onboarding for Regulated Firms","Banking Access"],"p":[],"d":"2015-04-08","x":"Money service businesses (who are money transmitter) to many financial institutions and processors represent businesses…"},{"t":"How long should someone wait between transferring two $10,000 amounts to the U.S. to avoid reporting issues?","u":"how-long-should-someone-wait-between-transferring-two-10000-amounts-to-the-us-to-avoid-reporting-iss","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Large International Transfers"],"p":["Americas","Developed Markets"],"d":"2015-04-08","x":"The US does not have such a rule per se. You can at any time request a SWIFT MT-103 Message Confirmation from the…"},{"t":"What are effective ways to accept credit-card payments when customers manually enter their card numbers?","u":"what-are-effective-ways-to-accept-credit-card-payments-when-customers-manually-enter-their-card-numb","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Gateways"],"p":[],"d":"2015-04-08","x":"Its pretty simply. This is still treated as a MOTO (Mail Order/Telephone Order) transaction, or (CNP - Card Not Present)…"},{"t":"Is there a difference between a mobile wallet and a digital wallet?","u":"is-there-a-difference-between-a-mobile-wallet-and-a-digital-wallet","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Mobile Payments"],"p":[],"d":"2015-04-08","x":"A digital wallet is simply tokenization of money, digitally! Apps and Banking Systems can use it very differently. In…"},{"t":"Who invented the ATM, and in what way?","u":"who-invented-the-atm-and-in-what-way","c":"History of Money, Banking and Finance","s":["History of Payment Systems","History of Banking"],"p":["New York","Texas"],"d":"2015-04-08","x":"Donald Wetzel After looking first hand at the experiences in Europe, in 1968 the networked ATM was pioneered in the US,…"},{"t":"If we charge customers’ credit cards worldwide and then wire funds to other users (minus a service fee) like Airbnb, do we need money-transfer licenses (MSB/MST) in the U.S. or Europe?","u":"if-we-charge-customers-credit-cards-worldwide-and-then-wire-funds-to-other-users-minus-a-service-fee","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business License","Money Services Business (MSB)"],"p":["Americas","Developed Markets"],"d":"2015-04-07","x":"If you will be holding on to the funds in any manner (i.e. even a short time) and then disbursing the funds out, then…"},{"t":"How can I build a basic online banking system from scratch?","u":"how-can-i-build-a-basic-online-banking-system-from-scratch","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2015-04-07","x":"You might want to give Cyclos a look, its an ope-source core banking software (debtable?), and reviewing through the…"},{"t":"Which regions of the world are underserved yet rapidly expanding their online presence?","u":"which-regions-of-the-world-are-underserved-yet-rapidly-expanding-their-online-presence","c":"Emerging Markets and Financial Inclusion","s":["Emerging Market Economies","Frontier Markets"],"p":["Asia","Emerging Markets"],"d":"2015-04-07","x":"South Asia . (India, Pakistan, Bangladesh, Nepal, Sri Lanka, Bhutan, Maldives). If you look at the total population of…"},{"t":"What systems do banks typically use to maintain and reconcile customer accounts?","u":"what-systems-do-banks-typically-use-to-maintain-and-reconcile-customer-accounts","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":["Americas","Developed Markets"],"d":"2015-04-07","x":"Most banks have on-premise solution.The likes of Temenos, Misys, et. al. dominate outside the US, whilst within the US,…"},{"t":"How did banks send funds to other banks before the telegraph was introduced around 1832?","u":"how-did-banks-send-funds-to-other-banks-before-the-telegraph-was-introduced-around-1832","c":"History of Money, Banking and Finance","s":["History of Banking","Financial History"],"p":[],"d":"2015-04-07","x":"Funds transfer was done through a variety of ways. To start with, a bank in Paris would establish a relationship with a…"},{"t":"If you could redesign SWIFT today, what would you change and how would you build it?","u":"if-you-could-redesign-swift-today-what-would-you-change-and-how-would-you-build-it","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":[],"d":"2015-04-07","x":"This is a tough one. For those in the know, you would understand, the similarity of SWIFT and the whole correspondent…"},{"t":"How costly is it to transfer money from Europe to the United States?","u":"how-costly-is-it-to-transfer-money-from-europe-to-the-united-states","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Developed Markets","EMEA"],"d":"2015-04-07","x":"Quite an open-ended question, but the answer is, it depends. It depends on the type of transaction and from which…"},{"t":"Are there any “startup banks” today?","u":"are-there-any-startup-banks-today","c":"Digital Banks, Neobanks and Mobile Banking","s":["Neobanks","Challenger Banks"],"p":["DACH (Germany, Austria, Switzerland)","Developed Markets"],"d":"2015-04-07","x":"I believe Fidor Bank in Germany would qualify."},{"t":"How do you develop an app that connects directly to users’ checking and savings accounts?","u":"how-do-you-develop-an-app-that-connects-directly-to-users-checking-and-savings-accounts","c":"Open Banking and Account Aggregation","s":["Account Aggregation","Data Aggregators"],"p":[],"d":"2015-04-06","x":"The easy way out would be to use account aggregator services, Yodlee, ByAllAccounts, Quovo, Plaid, Aqumulate, et. al. If…"},{"t":"How can I legally build a multi-currency NS/RTGS system based on banks’ current accounts?","u":"how-can-i-legally-build-a-multi-currency-nsrtgs-system-based-on-banks-current-accounts","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Accounts"],"p":["Developed Markets","United Kingdom"],"d":"2015-04-06","x":"You\u0026#39;ve asked a couple of questions, so here are your answers: This relationship is perfectly legal (from a banking point…"},{"t":"What is PayPal’s main purpose or core function?","u":"what-is-paypals-main-purpose-or-core-function","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Digital Wallets"],"p":[],"d":"2015-04-06","x":"Person to Person payments is still PayPal\u0026#39;s main revenue earner. 41% of Ebay\u0026#39;s revenue is PayPal. Source…"},{"t":"Does PayPal allow payments for travel-related products?","u":"does-paypal-allow-payments-for-travel-related-products","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets"],"p":[],"d":"2015-04-06","x":"Yes, but for travel services, PayPayl Buyer Protection is not available."},{"t":"Is it safe to send credit card details by email?","u":"is-it-safe-to-send-credit-card-details-by-email","c":"Cybersecurity, Digital Identity and Authentication","s":["Data Security","Cybersecurity"],"p":[],"d":"2015-04-05","x":"No. it is not safe to transmit credit card details in an email. Best is to fax this information to them. That is how…"},{"t":"I have been scammed out of money online—how can I make the other party repay me?","u":"i-have-been-scammed-out-of-money-onlinehow-can-i-make-the-other-party-repay-me","c":"Fraud and Scams","s":["Fraud Victim Recourse","Payment Fraud"],"p":["United States"],"d":"2015-04-05","x":"Nothing much you can do, except perhaps keep persisting and hope the other party will eventually respond back. If you…"},{"t":"Are there technology startups operating in Pakistan?","u":"are-there-technology-startups-operating-in-pakistan","c":"General Finance Questions","s":["General","Uncategorised"],"p":["Pakistan"],"d":"2015-04-05","x":"First of all, that\u0026#39;s a very presumptuous statement to assume the country being trapped in its own politics. Isn\u0026#39;t…"},{"t":"Which countries are largely card-only where you can pay almost everywhere with a credit card?","u":"which-countries-are-largely-card-only-where-you-can-pay-almost-everywhere-with-a-credit-card","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":["Turkey"],"d":"2015-04-05","x":"Turkey, particularly Istanbul. Turkey has a population of 75 million and 2.3 Million POS machines. Barring 4-5 very…"},{"t":"What are the biggest fintech challenges in New York City, and what would help companies address them?","u":"what-are-the-biggest-fintech-challenges-in-new-york-city-and-what-would-help-companies-address-them","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":[],"d":"2015-04-05","x":"It wouldn\u0026#39;t be out of place to say, there that fintech challenges aren\u0026#39;t related to NYC or a particular city. Fintech…"},{"t":"How do banks move money between themselves?","u":"how-do-banks-move-money-between-themselves","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Ledgers"],"p":[],"d":"2015-04-05","x":"The transfer of wealth amongst different countries or banks is not more than a ledger entry. Wealth of each country is…"},{"t":"Are all U.S. dollar transactions routed through the United States?","u":"are-all-us-dollar-transactions-routed-through-the-united-states","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["USD Clearing","Money Plumbing (How Money Moves)"],"p":["MENA (Middle East and North Africa)","Pakistan"],"d":"2015-04-04","x":"It depends on which Bank you use. If you have an account with Citibank and you use the Citibank equivalent in Saudi…"},{"t":"What are some promising startup ideas that can be launched in developing countries today?","u":"what-are-some-promising-startup-ideas-that-can-be-launched-in-developing-countries-today","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance"],"p":[],"d":"2015-04-03","x":"Some ideas... Food Delivery Services (as Dominik Losman pointed out, Food Panda by Rocket Internet is a great starting…"},{"t":"Has Nick Szabo responded to the LikeInAMirror blog post claiming he might be Satoshi Nakamoto?","u":"has-nick-szabo-responded-to-the-likeinamirror-blog-post-claiming-he-might-be-satoshi-nakamoto","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin"],"p":["Bitcoin"],"d":"2015-04-02","x":"Nick Szabo, could very well be Satoshi Nakamoto, but in so far as I know, he not explicitly denied the article in…"},{"t":"What major factual mistakes has Noam Chomsky allegedly made?","u":"what-major-factual-mistakes-has-noam-chomsky-allegedly-made","c":"Payments (General)","s":["TIPS"],"p":[],"d":"2015-04-02","x":"There is a PDF titled Top 200 Noam Chomsky Lies - Page on paulbogdanor.com - which lists a lot of his mistakes/lies,…"},{"t":"Where can I learn the fundamentals of Bitcoin?","u":"where-can-i-learn-the-fundamentals-of-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2015-04-02","x":"I would highly recommend you read this post: Explain Bitcoin Like I’m Five I also wrote a post that you may want to skim…"},{"t":"What is the most effective way for an India-registered company to accept card payments from the U.S.?","u":"what-is-the-most-effective-way-for-an-india-registered-company-to-accept-card-payments-from-the-us","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Card Payments"],"p":["Asia","India"],"d":"2015-04-01","x":"You may want to take a look at this link regarding PayPal and list of approved countries: International Payments -…"},{"t":"How does the hawala system for moving money actually work?","u":"how-does-the-hawala-system-for-moving-money-actually-work","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Hawala","Informal Remittance Channels"],"p":["Asia","Bangladesh"],"d":"2015-04-01","x":"Hawala is a much debated issue. In addition to the answer given by Vrinda Kumar you also need to be cognizant that…"},{"t":"Do any banks conduct direct sales by phone, and if so, how do they verify an existing customer’s identity?","u":"do-any-banks-conduct-direct-sales-by-phone-and-if-so-how-do-they-verify-an-existing-customers-identi","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication"],"p":["Developed Markets","United States"],"d":"2015-04-01","x":"You can subscribe to Identity validation services, which for example in the US can provide some basic information based…"},{"t":"What do you read each week to stay informed about virtual currencies?","u":"what-do-you-read-each-week-to-stay-informed-about-virtual-currencies","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Trading"],"p":[],"d":"2015-03-12","x":"Coin Desk for sure. Its perhaps the best source out there (for me at least) to know all what is going on in the digital…"},{"t":"What is the difference between a digital wallet and a shopping cart in how payments are initiated and processed?","u":"what-is-the-difference-between-a-digital-wallet-and-a-shopping-cart-in-how-payments-are-initiated-an","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Mobile Payments"],"p":[],"d":"2015-03-12","x":"Honestly, remove the word digital from your question and what is the difference between a wallet and a shopping cart?…"},{"t":"In your view, is internet banking the best way to manage banking needs?","u":"in-your-view-is-internet-banking-the-best-way-to-manage-banking-needs","c":"Digital Banks, Neobanks and Mobile Banking","s":["Digital Banks"],"p":[],"d":"2015-03-12","x":"Internet banking one way to bank, ie it is one channel of banking. A good way to bank is to have an omni-channel banking…"},{"t":"If a wire transfer sent to my account is recalled by the sender, can the funds be pulled back without my consent?","u":"if-a-wire-transfer-sent-to-my-account-is-recalled-by-the-sender-can-the-funds-be-pulled-back-without","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Wire Transfers","Payment Finality"],"p":[],"d":"2015-03-12","x":"No. Only erroneous or mis-credited wire transfers can be pulled from your account. In both cases, the erroneous or…"},{"t":"What are the differences between ACH, SEPA, and RTGS payment systems?","u":"what-are-the-differences-between-ach-sepa-and-rtgs-payment-systems","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Payment Clearing"],"p":["Developed Markets","Europe"],"d":"2015-03-11","x":"ACH is usually referred to as the US (e-check) system that takes between 3-4 days to clear. All ACH payments in the US…"},{"t":"In the U.S., how can a non-resident non-citizen open a bank account online?","u":"in-the-us-how-can-a-non-resident-non-citizen-open-a-bank-account-online","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["Americas","Developed Markets"],"d":"2015-03-11","x":"You would need to be present (physically) at the bank branch. Doesn\u0026#39;t matter if you are a non-resident. Show your…"},{"t":"How does Xoom authorize payments from a sender’s bank account?","u":"how-does-xoom-authorize-payments-from-a-senders-bank-account","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2015-03-11","x":"Xoom has paid out using pre-funding on the correspondent payout side. Your transaction was advanced by the correspondent…"},{"t":"What happens if a government or billionaire buys and holds 90% of litecoins, artificially reducing supply?","u":"what-happens-if-a-government-or-billionaire-buys-and-holds-90-of-litecoins-artificially-reducing-sup","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Speculation","Crypto Market Structure"],"p":[],"d":"2015-03-10","x":"Can happen, but then disposing of the stock will be a problem. Just like you have artificially inflated the price, by…"},{"t":"Who are the leading global thought leaders in payments?","u":"who-are-the-leading-global-thought-leaders-in-payments","c":"Payments (General)","s":["Payment Methods","Payment Industry Overview"],"p":[],"d":"2015-03-10","x":"Here would be my list (in no particular order): Carol Coye Benson (Glenbrook Partners) David Marcus (Facebook Messenger)…"},{"t":"What are the pros and cons of an EU member state building a national debit-card payment scheme?","u":"what-are-the-pros-and-cons-of-an-eu-member-state-building-a-national-debit-card-payment-scheme","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Domestic Card Schemes"],"p":["Developed Markets","EMEA"],"d":"2015-03-10","x":"I think one of the best examples you can look at is Poland (an EU member country). Six commercial banks decided to do…"},{"t":"How do large banks and financial institutions benefit from participating in microfinance?","u":"how-do-large-banks-and-financial-institutions-benefit-from-participating-in-microfinance","c":"Emerging Markets and Financial Inclusion","s":["Financial Inclusion","Development Economics"],"p":[],"d":"2015-03-09","x":"Couple of ways: The distribution network of a well-thought of microfinance bank is something that is very hard to beat…"},{"t":"What additional infrastructure is needed to boost real-world acceptance of cryptocurrencies?","u":"what-additional-infrastructure-is-needed-to-boost-real-world-acceptance-of-cryptocurrencies","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","Scalability"],"p":["Bitcoin"],"d":"2015-03-09","x":"Sub-decimal banking and payments infrastructure. If a Bitcoin is a 100 Million Satoshis, your current infrastructure…"},{"t":"Are online payment services regulated by governments and financial authorities?","u":"are-online-payment-services-regulated-by-governments-and-financial-authorities","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulators"],"p":[],"d":"2015-03-09","x":"Depends where in the world you are. In most cases yes. Sometimes they are directly governed, ie regulated, sometimes it…"},{"t":"Is PCI compliance still required if a system uses tokenization?","u":"is-pci-compliance-still-required-if-a-system-uses-tokenization","c":"Cybersecurity, Digital Identity and Authentication","s":["Data Security","Cybersecurity"],"p":[],"d":"2015-03-09","x":"As of date, yes, it is required. Just because a token is being generated, does not mean the transaction is 100% safe.…"},{"t":"In simple terms, why do banks maintain nostro accounts with other banks?","u":"in-simple-terms-why-do-banks-maintain-nostro-accounts-with-other-banks","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Nostro Accounts","Correspondent Banking Relationships"],"p":["India","United States"],"d":"2015-03-09","x":"Let us assume there is a bank in India, that does a lot of business from the US. This Indian bank has no presence in the…"},{"t":"Which banks received emergency loans from the Federal Reserve during the financial crisis?","u":"which-banks-received-emergency-loans-from-the-federal-reserve-during-the-financial-crisis","c":"Central Banks and Bank Supervision","s":["Banking Economics","Central Banks"],"p":[],"d":"2015-03-09","x":"This page provides information on all those banks that applied for TARP (Troubled Asset Relief Program) . Tracking the…"},{"t":"From a payments perspective, what challenges do multinational companies face when paying for employees’ travel or corporate expenses abroad?","u":"from-a-payments-perspective-what-challenges-do-multinational-companies-face-when-paying-for-employee","c":"Treasury, Liquidity and Corporate Finance","s":["Treasury Operations for Payment Firms"],"p":[],"d":"2015-03-08","x":"Great question! This is a problem that a lot of companies in the financial space are trying to address, each in their…"},{"t":"How does a weak rupee against the U.S. dollar impact the Indian economy?","u":"how-does-a-weak-rupee-against-the-us-dollar-impact-the-indian-economy","c":"Economics, Inflation and Monetary Policy","s":["Currency","Macroeconomics"],"p":["India","Indian Rupee"],"d":"2015-03-08","x":"Its great for Exporters, but bad news for Importers. WIth the current account deficit and trade imbalance (more imports…"},{"t":"Are paperless checks as insecure as they appear?","u":"are-paperless-checks-as-insecure-as-they-appear","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":["Americas","Developed Markets"],"d":"2015-03-08","x":"What you are referring to is the archaic ACH ( ACH ) system in the US. Whilst it may seem that with that the minimal…"},{"t":"Why do banks charge monthly account fees?","u":"why-do-banks-charge-monthly-account-fees","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2015-03-08","x":"Maintenance Fees to put it simply. This is typically the aggregated fee of customer support and customer ops broken down…"},{"t":"After exchanging currency on CurrencyFair, how can you access your funds?","u":"after-exchanging-currency-on-currencyfair-how-can-you-access-your-funds","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Bank Deposit Payouts"],"p":[],"d":"2015-03-08","x":"Its deposited in your bank account. There is no other payout mechanism. You will need a bank account in the same…"},{"t":"How do offshore bank accounts function?","u":"how-do-offshore-bank-accounts-function","c":"Opening Bank Accounts, Personal and Business","s":["Offshore Bank Accounts","Offshore Banking"],"p":[],"d":"2015-03-08","x":"Same as any other bank account, with the exception being, on how the reporting might be done with certain countries,…"},{"t":"If money moves electronically between bank accounts, how is physical cash “settled” or accounted for?","u":"if-money-moves-electronically-between-bank-accounts-how-is-physical-cash-settled-or-accounted-for","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2015-03-08","x":"As Mark Harrison explained, when you settle or transfer electronically, there is no paper money involved. However, if…"},{"t":"Are there risks that France might retaliate against U.S. banks operating there after the large fine imposed on BNP?","u":"are-there-risks-that-france-might-retaliate-against-us-banks-operating-there-after-the-large-fine-im","c":"Regulators, Enforcement and Regulatory Change","s":["Regulatory Penalties","Regulatory Enforcement"],"p":["Developed Markets","Europe"],"d":"2015-03-07","x":"Nope. No retaliation. Lots of soured relationships, but no retaliation. The fiduciary responsibility of the bank…"},{"t":"Why did Visa advertise during the 2014 World Cup final when most people choose cards based on factors other than the network brand?","u":"why-did-visa-advertise-during-the-2014-world-cup-final-when-most-people-choose-cards-based-on-factor","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Business Insights"],"p":[],"d":"2015-03-07","x":"Card schemes are very rarely designed by bank executives for VISA. VISA does however have a very active network for…"},{"t":"How difficult is it to legally transfer $800,000 (or any large amount over $100,000) from Pakistan to another country such as Australia, and what is the process?","u":"how-difficult-is-it-to-legally-transfer-800000-or-any-large-amount-over-100000-from-pakistan-to-anot","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Outward Remittances"],"p":["Australia","Pakistan"],"d":"2015-03-07","x":"You need to go to a Money Transfer Company (any licensed A money transfer company) and ask them to remit your funds.…"},{"t":"What types of organizations are authorized to issue credit cards?","u":"what-types-of-organizations-are-authorized-to-issue-credit-cards","c":"Card Networks and Card Issuing","s":["Card Issuing","Card Authorization"],"p":[],"d":"2015-03-06","x":"Those who can extend credit, either directly or through an intermediary who can issue credit. In both cases this is…"},{"t":"Do we actually need cents anymore, and why not price everything purely in whole dollars?","u":"do-we-actually-need-cents-anymore-and-why-not-price-everything-purely-in-whole-dollars","c":"Payments (General)","s":["Payment Basics","Payment Methods"],"p":["United States","United States Dollar"],"d":"2015-03-06","x":"Depends on the currency, if you are referring to the US Dollar, the currency is quite strong and there exists quite a…"},{"t":"How disruptive could Facebook be in the payments industry?","u":"how-disruptive-could-facebook-be-in-the-payments-industry","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Industry Insights"],"p":[],"d":"2015-03-06","x":"For Facebook to do anything truly disruptive, they can do quite a few things, but in the strictest of definition of the…"},{"t":"Will Facebook ever introduce a PayPal-like service?","u":"will-facebook-ever-introduce-a-paypal-like-service","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Digital Wallets"],"p":[],"d":"2015-03-06","x":"They could, but it would be one heck of a challenge. Facebook has all the right ingredients to enable a payment platform…"},{"t":"What is the best way to ensure international clients pay on time?","u":"what-is-the-best-way-to-ensure-international-clients-pay-on-time","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Cross-Border B2B Payments","Accounts Receivable"],"p":[],"d":"2015-03-06","x":"There are none. Either you do an advance payment or hold the funds in an Escrow."},{"t":"How do you connect a website with a payment system?","u":"how-do-you-connect-a-website-with-a-payment-system","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Payment APIs"],"p":[],"d":"2015-03-06","x":"Too board of a question, but I would assume you are talking about integration with a payment system. Typically the way…"},{"t":"Was Liberty Reserve’s shutdown an attempt by the U.S. to control digital or e-currencies, and how severely did it impact Bitcoin?","u":"was-liberty-reserves-shutdown-an-attempt-by-the-us-to-control-digital-or-e-currencies-and-how-severe","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulatory Enforcement"],"p":["Bitcoin","United States"],"d":"2015-03-05","x":"Jon Matonis would probably be the best person to answer this question. But, generally speaking, the US is trying to…"},{"t":"Do banks hire consultants to help review and process loan applications?","u":"do-banks-hire-consultants-to-help-review-and-process-loan-applications","c":"Lending, Credit Scores and BNPL","s":["Loan Underwriting","Consumer Lending"],"p":[],"d":"2015-03-05","x":"Not the review process from an individual application point of view, but banks will occasionally hire consultants to…"},{"t":"Which Basel Accord requirements must be reflected in Philippine banking regulations?","u":"which-basel-accord-requirements-must-be-reflected-in-philippine-banking-regulations","c":"Central Banks and Bank Supervision","s":["Basel Rules","Bank Supervision"],"p":["Philippines"],"d":"2015-03-05","x":"The Basel III Framework very clearly summarizes the requirements for any bank that would like to take advantage of the…"},{"t":"What features would persuade you to use a new alternative or mobile payment system from Apple, Facebook, or Google?","u":"what-features-would-persuade-you-to-use-a-new-alternative-or-mobile-payment-system-from-apple-facebo","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Digital Wallets"],"p":["Emerging Markets","Global South"],"d":"2015-03-04","x":"On the flip-side, i.e. outside of the US and looking at users from developing and emerging markets, the reason that…"},{"t":"What security advantage is gained when a bank mails your credit card separately from the letter containing your PIN—couldn’t a thief just steal both anyway?","u":"what-security-advantage-is-gained-when-a-bank-mails-your-credit-card-separately-from-the-letter-cont","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Card Security"],"p":[],"d":"2015-03-03","x":"The probability of a thief having access to both drops, when you separate the mail. It was an old age practice which now…"},{"t":"Who are some of the top lawyers and law firms specializing in money-transmitter licensing for both startups and established companies?","u":"who-are-some-of-the-top-lawyers-and-law-firms-specializing-in-money-transmitter-licensing-for-both-s","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":[],"d":"2015-03-03","x":"Two come to mind: Perkins Coie (http://www.perkinscoie.com/) and Nesenoff \u0026amp; Miltenberg (http://nmllplaw.com/),…"},{"t":"Can peer-to-peer payment platforms transfer money across state lines without obtaining money-transfer licenses?","u":"can-peer-to-peer-payment-platforms-transfer-money-across-state-lines-without-obtaining-money-transfe","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["Americas","Developed Markets"],"d":"2015-03-03","x":"No. Moving money across state lines and/or internationally (across borders) with respect to the US, requires a Money…"},{"t":"Can an individual legally create their own currency?","u":"can-an-individual-legally-create-their-own-currency","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Law","Financial Services Law"],"p":[],"d":"2015-03-03","x":"Yes. A private person can indeed create or invent a new currency and/or currency system. But to then be able to use it…"},{"t":"Mobile Commerce: What is the smoothest way to redeem coupons without relying on a POS device?","u":"mobile-commerce-what-is-the-smoothest-way-to-redeem-coupons-without-relying-on-a-pos-device","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":[],"d":"2015-03-03","x":"You can do this a couple of ways: Use a Bluetooth reader, which would either connect to your PC or your Phone (+App).…"},{"t":"What were the early phone-based credit card readers before Square?","u":"what-were-the-early-phone-based-credit-card-readers-before-square","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Point of Sale (POS)"],"p":["France","Hong Kong"],"d":"2015-03-03","x":"Prior to Square being launch, mobile POS (mPOS) was the prevalent technology. Essentially it was a POS machine with a…"},{"t":"Why haven’t banks implemented fingerprint identity checks at point-of-sale terminals?","u":"why-havent-banks-implemented-fingerprint-identity-checks-at-point-of-sale-terminals","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Biometrics"],"p":["Asia","Bangladesh"],"d":"2015-03-02","x":"There are a couple of reasons for this. What do you check the fingerprint against? The prevailing privacy laws may or…"},{"t":"How much could PayPal earn from interest on funds stored in user accounts?","u":"how-much-could-paypal-earn-from-interest-on-funds-stored-in-user-accounts","c":"Treasury, Liquidity and Corporate Finance","s":["Float","Treasury Operations for Payment Firms"],"p":["United States Dollar"],"d":"2015-03-01","x":"Question is very subjective and speculative, but to answer, you would need to know what sort of lending PayPal is doing.…"},{"t":"What are the major challenges and emerging trends in international payment systems?","u":"what-are-the-major-challenges-and-emerging-trends-in-international-payment-systems","c":"Starting and Running a Fintech or Payments Business","s":["Scaling a Payments Business","Starting a Fintech or Payments Company"],"p":[],"d":"2015-03-01","x":"There are so many. For payment systems that are expanding horizontally and vertically, there are many challenges and…"},{"t":"How does a remittance agent make money when send and receive amounts differ? For example, sending AUD 1,000 to the US from Australia, and when $100,000 USD is sent from US to Australia?","u":"how-does-a-remittance-agent-make-money-when-send-and-receive-amounts-differ-for-example-sending-aud","c":"Money Transfer Business and MTOs","s":["Remittance Agents","Money Transfer Operators (MTO)"],"p":["Australia","Australian Dollar"],"d":"2015-03-01","x":"You are assuming that the Remittance transfers in this case is peer-to-peer. Ideally (in most cases that I know of), the…"},{"t":"Why does the banking sector require regulation?","u":"why-does-the-banking-sector-require-regulation","c":"Central Banks and Bank Supervision","s":["Banking Economics","Bank Supervision"],"p":[],"d":"2015-02-12","x":"Today\u0026#39;s regulations mitigates market and invest risk on the money that depositors have with the bank. An unregulated…"},{"t":"For web-based payment processors, what key pieces are still missing in today’s payments infrastructure?","u":"for-web-based-payment-processors-what-key-pieces-are-still-missing-in-todays-payments-infrastructure","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2015-02-12","x":"This is a pretty large (read: open-ended) question. The answer can vary from geography, payment instrument, payment…"},{"t":"Can TransferWise’s P2P matching model work only in two-way corridors, or can it also work in one-way remittance corridors from developed to developing countries?","u":"can-transferwises-p2p-matching-model-work-only-in-two-way-corridors-or-can-it-also-work-in-one-way-r","c":"Payment Corridors and Remittance Economics","s":["Remittance Corridors","Payment Corridors"],"p":["British Pound Sterling","India"],"d":"2015-02-12","x":"The TransferWise model, is best known as net-off model in remittances, meaning, there is no money moved between the two…"},{"t":"In what ways have banks lobbied to reduce or remove financial education from public school curricula?","u":"in-what-ways-have-banks-lobbied-to-reduce-or-remove-financial-education-from-public-school-curricula","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2015-02-12","x":"I wouldn\u0026#39;t use the word lobbied, but the way banking is today, specifically how fractional reserve banking works, is…"},{"t":"Economics: At what oil price level would Saudi Arabia be forced to respond to falling crude prices?","u":"economics-at-what-oil-price-level-would-saudi-arabia-be-forced-to-respond-to-falling-crude-prices","c":"Economics, Inflation and Monetary Policy","s":["Economic Trends","Macroeconomics"],"p":["MENA (Middle East and North Africa)","Middle East"],"d":"2015-02-12","x":"I don\u0026#39;t think the Saudis will cut production. The falling oil prices are already affecting the US shale/fracking oil…"},{"t":"Can Bitcoin exchanges trade on their own platforms and gain an unfair advantage over normal users?","u":"can-bitcoin-exchanges-trade-on-their-own-platforms-and-gain-an-unfair-advantage-over-normal-users","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Bitcoin"],"d":"2015-02-12","x":"In addition to the answers here, I would also say proprietary trading by the exchange and take advantages of block…"},{"t":"What is the usual process for closing a bank account in Pakistan?","u":"what-is-the-usual-process-for-closing-a-bank-account-in-pakistan","c":"How Banks Work","s":["Banks","Account Closures"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-02-12","x":"Written application to the branch manager. That is all that is required. You will have to turn in your cheque book if…"},{"t":"How do Chinese exporters handle customs, taxes, and related costs when shipping goods to the U.S., and how much do these add to prices?","u":"how-do-chinese-exporters-handle-customs-taxes-and-related-costs-when-shipping-goods-to-the-us-and-ho","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Customs","Import Payments"],"p":["Asia","China"],"d":"2015-02-11","x":"Import taxes and surcharges (if any) are the responsibility of the buyer, not the exporter (or seller). In any case the…"},{"t":"What is the lowest-cost way to transfer money between countries?","u":"what-is-the-lowest-cost-way-to-transfer-money-between-countries","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["India","United States"],"d":"2015-02-11","x":"There is no set answer to this question, each corridor (the term used to indicate the transfer corridor between two…"},{"t":"How can I buy Bitcoin while living in Canada?","u":"how-can-i-buy-bitcoin-while-living-in-canada","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Americas","Bitcoin"],"d":"2015-02-11","x":"From the ATM of course (if you are in Vancouver). See: World\u0026#39;s First Bitcoin ATM goes live in Vancouver. In addition to…"},{"t":"Why do Bitcoin exchanges show so many very small BTC trades?","u":"why-do-bitcoin-exchanges-show-so-many-very-small-btc-trades","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Trading","Crypto Exchanges"],"p":["Bitcoin"],"d":"2015-02-11","x":"Bitcoin trades are charged on the percentage of their value, so if a Bitcoin trade is for 0.0001 BTC, the associated…"},{"t":"How do you obtain ISO status through a bank relationship?","u":"how-do-you-obtain-iso-status-through-a-bank-relationship","c":"Merchant Accounts, Processors and Gateways","s":["Independent Sales Organizations (ISO)","Payment Processors"],"p":[],"d":"2015-02-11","x":"Very simply: Apply to become an ISO. Banks 5 hat offer an ISO program have an application process, fill it up and see if…"},{"t":"How do international bank-to-bank transfers function end to end?","u":"how-do-international-bank-to-bank-transfers-function-end-to-end","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":["Philippines","United Kingdom"],"d":"2015-02-11","x":"Its simply a ledger adjustment. All banks report to the central banks and central banks exchange ledger positions with…"},{"t":"As of February 2015, had Visa officially rolled out its P2PE solution?","u":"as-of-february-2015-had-visa-officially-rolled-out-its-p2pe-solution","c":"Card Networks and Card Issuing","s":["Visa","Card Schemes and Networks"],"p":[],"d":"2015-02-11","x":"Nope. To the best of my knowledge it hasn\u0026#39;t been launched yet. It was slated for 2014 under the DSP program, but still…"},{"t":"Which Bitcoin startups in 2015 were considered the most exciting and genuinely innovative?","u":"which-bitcoin-startups-in-2015-were-considered-the-most-exciting-and-genuinely-innovative","c":"Money Transfer Business and MTOs","s":["Money Transfer-as-a-Service (MTaaS)","Remittance Agents"],"p":["Africa","Bitcoin"],"d":"2015-02-11","x":"I\u0026#39;m partial to Bitcoin remittance (money-transfer) services companies. A couple of names to look out for: Bitpesa…"},{"t":"How does ACH work in practice, how are payments processed, and how does ACH differ from RTGS and other local payment switches?","u":"how-does-ach-work-in-practice-how-are-payments-processed-and-how-does-ach-differ-from-rtgs-and-other","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":["United States"],"d":"2015-02-11","x":"Gusto (formerly ZenPayroll) probably has probably the best explanation of how ACH works: How ACH works: A developer…"},{"t":"How does Dwolla generate revenue when its fees are close to zero?","u":"how-does-dwolla-generate-revenue-when-its-fees-are-close-to-zero","c":"Payment Operations, Pricing and Fees","s":["Payment Pricing","Payment Fees"],"p":[],"d":"2015-02-10","x":"The make money on transactions greater than US$10, and presumably they get earnings credit from their credit union for…"},{"t":"What is the most valuable banknote ever issued to date?","u":"what-is-the-most-valuable-banknote-ever-issued-to-date","c":"History of Money, Banking and Finance","s":["Financial History","History of Money"],"p":["British Pound Sterling","United Kingdom"],"d":"2015-02-10","x":"The US Series 1891 Red Seal US$ 1,000 Dollar Bill Extremely rare, last one was auctioned off for US$ 2.5 Million (See:…"},{"t":"What is the best payment system to integrate into a website that operates as a platform?","u":"what-is-the-best-payment-system-to-integrate-into-a-website-that-operates-as-a-platform","c":"E-Commerce, Marketplace and Platform Payments","s":["Marketplace Payments","Platform Payments"],"p":[],"d":"2015-02-10","x":"What you are describing is a marketplace, with the marketplace being an aggregator for payments. This is typically…"},{"t":"Is there a website payment system that automatically converts fiat to Bitcoin and sends it to a specified Bitcoin address?","u":"is-there-a-website-payment-system-that-automatically-converts-fiat-to-bitcoin-and-sends-it-to-a-spec","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2015-02-10","x":"In addition to the other answers (Coinbase, BitPay, Coinvoice): there is http://www.bips.me"},{"t":"Does PCI DSS specify any maximum acceptable network latency for card transactions?","u":"does-pci-dss-specify-any-maximum-acceptable-network-latency-for-card-transactions","c":"Cybersecurity, Digital Identity and Authentication","s":["Data Security","Cybersecurity"],"p":[],"d":"2015-02-10","x":"To the best of my knowledge they do not. VISA and MasterCard rule manuals cite for your network to have low latency, but…"},{"t":"How does Bitcoin trading work in Pakistan?","u":"how-does-bitcoin-trading-work-in-pakistan","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Trading","Crypto Exchanges"],"p":["Bitcoin","Pakistan"],"d":"2015-02-10","x":"To trade Bitcoins. No. I should cite that the No is conditional. The condition being that State Bank of Pakistan,…"},{"t":"How do U.S. banks run background checks on non-citizens?","u":"how-do-us-banks-run-background-checks-on-non-citizens","c":"Opening Bank Accounts, Personal and Business","s":["US Bank Accounts for Foreigners","Bank Account Opening"],"p":[],"d":"2015-02-09","x":"If you are opening a bank account, a background check is not required. The only thing the US bank would do is to check…"},{"t":"Why did M-Pesa succeed so strongly in Kenya while similar products underperformed in South Africa or India?","u":"why-did-m-pesa-succeed-so-strongly-in-kenya-while-similar-products-underperformed-in-south-africa-or","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Insights","Case Studies"],"p":["Africa","East Africa"],"d":"2015-02-09","x":"At a conference I had the rare privilege of speaking to one of the original product development managers of the M-Pesa…"},{"t":"How does Visa settle funds between acquirers and issuers at day-end—what rails/mechanisms are used (ACH, switches, etc.)?","u":"how-does-visa-settle-funds-between-acquirers-and-issuers-at-day-endwhat-railsmechanisms-are-used-ach","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Settlement Models","Money Plumbing (How Money Moves)"],"p":[],"d":"2015-02-09","x":"In various countries that VISA operates, it has an designated bank(s) that are VISA settlement banks. The accounts…"},{"t":"Why does it seem like most people don’t really understand how money works?","u":"why-does-it-seem-like-most-people-dont-really-understand-how-money-works","c":"Economics, Inflation and Monetary Policy","s":["Monetary Policy","Money Creation"],"p":[],"d":"2015-02-09","x":"It is made so deliberately (whether you agree to it or not). It is made complex by design and association. There is a…"},{"t":"Can money laundering be done via large-scale art purchases, and how does that affect art pricing and valuations?","u":"can-money-laundering-be-done-via-large-scale-art-purchases-and-how-does-that-affect-art-pricing-and","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":[],"d":"2015-02-09","x":"Can it be done? Sure! Will it be worth the effort? Probably not. The liquidation aspect of art might be a problematic…"},{"t":"Why aren’t PayMaya and GCash in the Philippines widely viewed as success stories despite clear benefits?","u":"why-arent-paymaya-and-gcash-in-the-philippines-widely-viewed-as-success-stories-despite-clear-benefi","c":"Emerging Markets and Financial Inclusion","s":["Financial Inclusion","Emerging Market Economies"],"p":["Africa","Asia"],"d":"2015-02-09","x":"You know that is a very good question to ask. The long and the short is: Africa took over. Smart Money / GCash, and…"},{"t":"How many Swiss banks exist in total?","u":"how-many-swiss-banks-exist-in-total","c":"General Finance Questions","s":["General Finance Questions"],"p":["DACH (Germany, Austria, Switzerland)","Europe"],"d":"2015-02-09","x":"A list has been compiled here, not sure how accurate or up to date it is: Alphabetical list of Swiss banks"},{"t":"Bitcoin in 2014: Which companies offered Bitcoin merchant acquiring/processing?","u":"bitcoin-in-2014-which-companies-offered-bitcoin-merchant-acquiringprocessing","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payment Processors","Crypto Payments"],"p":["Bitcoin"],"d":"2015-02-09","x":"Here is my curated list of Bitcoin merchant processors all over the world: Alternative Currencies: List of Bitcoin…"},{"t":"Why are banks wary of Bitcoin?","u":"why-are-banks-wary-of-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2015-02-09","x":"I talk to a whole lot of bankers everyday, and I\u0026#39;ve yet to really come across a Bank/Banker that fears Bitcoin. Most of…"},{"t":"Why are there so many physical bank branches concentrated in Manhattan?","u":"why-are-there-so-many-physical-bank-branches-concentrated-in-manhattan","c":"General Finance Questions","s":["General Finance Questions"],"p":["New York","United States"],"d":"2015-02-08","x":"New York is the banking capital of America. From the early days, the island of Manhattan has literally been the first…"},{"t":"History: How did wealthy Europeans move assets to the New World during the colonial era?","u":"history-how-did-wealthy-europeans-move-assets-to-the-new-world-during-the-colonial-era","c":"History of Money, Banking and Finance","s":["Economic History","Financial History"],"p":["Americas","Europe"],"d":"2015-02-08","x":"Crown Banking was already established in the New World , in fact, quite a few merchant banks were setup just for this…"},{"t":"How can someone get a meeting with a major tech company like Apple or Samsung?","u":"how-can-someone-get-a-meeting-with-a-major-tech-company-like-apple-or-samsung","c":"General Finance Questions","s":["General","Uncategorised"],"p":[],"d":"2015-02-08","x":"I\u0026#39;d agree with Joel Yarbrough - an introduction through a friend is the best way. People would gladly make an…"},{"t":"What items does PayPal need to recognize and account for in its financial statements?","u":"what-items-does-paypal-need-to-recognize-and-account-for-in-its-financial-statements","c":"Tax and Financial Reporting","s":["Financial Reporting","Accounting for Payment Firms"],"p":[],"d":"2015-02-08","x":"PayPal\u0026#39;s financials, are a sub-division of Ebay\u0026#39;s financials. Ebay at present does not provide a separate P\u0026amp;L/Balance…"},{"t":"How are large-value bank transactions executed in practice?","u":"how-are-large-value-bank-transactions-executed-in-practice","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Wire Transfers","Payment Infrastructure"],"p":["United States"],"d":"2015-02-08","x":"If the amount has to be transferred, it would go through the Fedwire, the US RTGS. Cost $25 probably and you could…"},{"t":"Banks: Which financial services brand is doing a strong job marketing “innovation”?","u":"banks-which-financial-services-brand-is-doing-a-strong-job-marketing-innovation","c":"Business Strategy, Case Studies and Lessons Learned","s":["Competitive Analysis","Customer Experience in Finance"],"p":[],"d":"2015-02-08","x":"Within the banking community, four brands are doing what I would deem to be a great job: BankMobile ( tackling the…"},{"t":"Does Dubai have its own stock exchange?","u":"does-dubai-have-its-own-stock-exchange","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Stock Markets","Securities"],"p":["GCC","United Arab Emirates"],"d":"2015-02-08","x":"Yes it does, its called Dubai Financial Markets: Dubai Financial Market, PJSC"},{"t":"Is there a country-by-country directory of financial regulators, or an online database of regulatory enforcement actions and breaches?","u":"is-there-a-country-by-country-directory-of-financial-regulators-or-an-online-database-of-regulatory","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulators"],"p":[],"d":"2015-02-08","x":"Wikipedia has a list, but it seriously outdated and in many instances flawed: List of financial regulatory authorities…"},{"t":"Why hasn’t peer-to-peer money transfer seen widespread adoption?","u":"why-hasnt-peer-to-peer-money-transfer-seen-widespread-adoption","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":["Bangladesh","Emerging Markets"],"d":"2015-02-08","x":"This is such a powerful question, the answer is a long one, highly opinionated and is still being written. I\u0026#39;m summarize…"},{"t":"When did societies begin using currency to trade goods across borders?","u":"when-did-societies-begin-using-currency-to-trade-goods-across-borders","c":"History of Money, Banking and Finance","s":["Economic History","History of Money"],"p":["China","Gold"],"d":"2015-02-08","x":"The Song Dynasty in China was credited with the very first issuance of currency notes for trading, a fact that was…"},{"t":"How can I set up a Ripple gateway for African/Asian currencies, and what would it cost?","u":"how-can-i-set-up-a-ripple-gateway-for-africanasian-currencies-and-what-would-it-cost","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto-to-Fiat Conversion"],"p":["Africa","Asia"],"d":"2015-02-08","x":"To become a Ripple gateway, you must be in the business of moving money in and out of the Ripple network. A gateway is…"},{"t":"The UK Faster Payments website says around 400 payment service providers access the system indirectly via sponsor banks—who are these providers and what level of access/service do they get?","u":"the-uk-faster-payments-website-says-around-400-payment-service-providers-access-the-system-indirectl","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Faster Payments (UK)","Payment Infrastructure"],"p":["Developed Markets","Europe"],"d":"2015-02-08","x":"The list is not public. The core members are 10 banks ( Current Members | Faster Payments ), the others who connect are…"},{"t":"Which payment gateway providers let Pakistan-based e-commerce businesses offer PayPal as a checkout option?","u":"which-payment-gateway-providers-let-pakistan-based-e-commerce-businesses-offer-paypal-as-a-checkout","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","Indian Subcontinent"],"d":"2015-02-08","x":"Which payment gateway providers let Pakistan-based e-commerce businesses offer PayPal as a checkout option?"},{"t":"Which banks and financial institutions are supported by Yodlee?","u":"which-banks-and-financial-institutions-are-supported-by-yodlee","c":"Open Banking and Account Aggregation","s":["Account Aggregation","Data Aggregators"],"p":[],"d":"2015-02-07","x":"Certainly not the best source, but here is a rough list: Bank Feed Status - Xero Blog"},{"t":"What exactly is involved in Check 21 processing services?","u":"what-exactly-is-involved-in-check-21-processing-services","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Checks and Cheques","Payment Clearing"],"p":["Americas","Developed Markets"],"d":"2015-02-07","x":"Check21 (as it is called in the US), is essentially a cheque truncation system and methodology. Other name that is used…"},{"t":"Online Banking: What happens if you accidentally deposit money into the wrong account?","u":"online-banking-what-happens-if-you-accidentally-deposit-money-into-the-wrong-account","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Verification of Payee"],"p":[],"d":"2015-02-07","x":"Depends. Your definition of accidental usually would not hold up to the bank for a reversal. Both the legal name and…"},{"t":"Can funds sent to the wrong account via NEFT/RTGS be reversed?","u":"can-funds-sent-to-the-wrong-account-via-neftrtgs-be-reversed","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Domestic Payment Schemes"],"p":[],"d":"2015-02-07","x":"If reported to the bank, the bank can request a reversal of funds only if the transaction was fraudulent or accidental…"},{"t":"Why do banks ask “public records” verification questions when confirming identity?","u":"why-do-banks-ask-public-records-verification-questions-when-confirming-identity","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Digital Identity"],"p":[],"d":"2015-02-07","x":"IN addition to what Christian Bee has cited, banks usually use tools/services like ID (See: http://www.idology.com/ to…"},{"t":"I live in India and have no U.S. contacts—how can I open a U.S. business bank account remotely?","u":"i-live-in-india-and-have-no-us-contactshow-can-i-open-a-us-business-bank-account-remotely","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["Americas","Asia"],"d":"2015-02-07","x":"This line of questioning has been asked here a lot. The simple answer is, you cannot. Without physically being present…"},{"t":"Somalia’s currency is unrecognized internationally—what does that mean and what are the consequences?","u":"somalias-currency-is-unrecognized-internationallywhat-does-that-mean-and-what-are-the-consequences","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Currency Convertibility","Currency Controls"],"p":["Africa","East Africa"],"d":"2015-02-07","x":"It basically means that no central bank and /or its banking members will accept this currency in its native form, which…"},{"t":"What paths can someone take to enter investment banking without experience?","u":"what-paths-can-someone-take-to-enter-investment-banking-without-experience","c":"Careers, Jobs and Working in Finance","s":["Careers in Banking","Employment"],"p":[],"d":"2015-02-07","x":"Internship would be the most recommended approach. IBs get a lot of resumes, etc. You will need to fight your way in…"},{"t":"What is the best dataset available on global remittance flows and average remittance costs?","u":"what-is-the-best-dataset-available-on-global-remittance-flows-and-average-remittance-costs","c":"Payment Corridors and Remittance Economics","s":["Remittance Data","Remittance Economics"],"p":["Bangladesh","GCC"],"d":"2015-02-06","x":"There is no accurate or centralized source to tap into something like this. The World Bank, Remittance Group has been…"},{"t":"When I transfer money from my bank to PayPal, where does the money actually go behind the scenes?","u":"when-i-transfer-money-from-my-bank-to-paypal-where-does-the-money-actually-go-behind-the-scenes","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Accounts"],"p":[],"d":"2015-02-06","x":"Your money is being held in escrow by one of the various banks that PayPal works with. For example if you transfer money…"},{"t":"What is the minimum ACH debit settlement time needed to reduce fraud risk?","u":"what-is-the-minimum-ach-debit-settlement-time-needed-to-reduce-fraud-risk","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2015-02-06","x":"There is no way around it in the ACH system per se. However, some processors do have advanced mechanincs to employ…"},{"t":"Payment Processing: What should I understand before becoming a merchant of record?","u":"payment-processing-what-should-i-understand-before-becoming-a-merchant-of-record","c":"Merchant Accounts, Processors and Gateways","s":["Merchant of Record","Payment Processors"],"p":[],"d":"2015-02-06","x":"Your payment processor should take care of those, the PCI compliance, fraud management, etc. As an MOR you are simply…"},{"t":"Is it better to exchange currency before leaving your country or after arriving in the destination country?","u":"is-it-better-to-exchange-currency-before-leaving-your-country-or-after-arriving-in-the-destination-c","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Foreign Exchange (FX)"],"p":["British Pound Sterling","Mexico"],"d":"2015-02-05","x":"This would depend on the the two countries. For example if you were going from say Philippines to the US, your best…"},{"t":"What opportunities exist for U.S. or European startups within the remittances sector?","u":"what-opportunities-exist-for-us-or-european-startups-within-the-remittances-sector","c":"Money Transfer Business and MTOs","s":["Starting a Remittance Business","Money Transfer Operators (MTO)"],"p":["Europe","European Union"],"d":"2015-02-05","x":"Remittances (or Migrant Workers Money Transfer ) by the numbers, is a large industry. Today, (May 2013 estimates) show…"},{"t":"What does a payment analyst do?","u":"what-does-a-payment-analyst-do","c":"Careers, Jobs and Working in Finance","s":["Careers in Payments","Jobs"],"p":[],"d":"2015-02-05","x":"Traditionally, ops position, compiling reports and statements based off the accounting and/or other softwares in use. In…"},{"t":"Who is currently in charge of Facebook’s payments division?","u":"who-is-currently-in-charge-of-facebooks-payments-division","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":[],"d":"2015-02-04","x":"Sean Ryan, Facebook’s vice-president of platform partnerships (source: FT)"},{"t":"Why do many self-proclaimed payment-processing experts provide inaccurate information?","u":"why-do-many-self-proclaimed-payment-processing-experts-provide-inaccurate-information","c":"Payments (General)","s":["Payment Industry Overview"],"p":[],"d":"2015-02-04","x":"It all comes down to a person\u0026#39;s experience, exposure and opinion. The payments field is not as simple as one is lead to…"},{"t":"How does PayPal actually process a transaction when a customer submits a payment?","u":"how-does-paypal-actually-process-a-transaction-when-a-customer-submits-a-payment","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Peer-to-Peer Payments"],"p":[],"d":"2015-02-03","x":"There are a couple of scenarios: If both the Payer \u0026amp; Payee are PayPal customers, the transaction is internal to PayPal\u0026#39;s…"},{"t":"How do banks use encryption in ATMs, and where is ATM-related data stored?","u":"how-do-banks-use-encryption-in-atms-and-where-is-atm-related-data-stored","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2015-02-03","x":"Banks use specialized hardware for the encryption, all PINs (for example) are validated from the HSM (Hardware Security…"},{"t":"What steps are required to accept Bitcoin payments in countries where PayPal and similar services are not available?","u":"what-steps-are-required-to-accept-bitcoin-payments-in-countries-where-paypal-and-similar-services-ar","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin","India"],"d":"2015-02-02","x":"Technically speaking, it is not difficult to accept Bitcoins. You simply need a wallet to do so. However, to accept it…"},{"t":"How can I set up my own mobile money-transfer startup?","u":"how-can-i-set-up-my-own-mobile-money-transfer-startup","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":[],"d":"2015-02-02","x":"To setup a mobile money transfer company, you essentially have two options: Wallet based, but carrier/bank agnostic, or…"},{"t":"What is the fastest and cheapest way to send money to someone in another U.S. state, excluding MoneyGram or Western Union—perhaps via a bank?","u":"what-is-the-fastest-and-cheapest-way-to-send-money-to-someone-in-another-us-state-excluding-moneygra","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Domestic Payment Schemes"],"p":["United States"],"d":"2015-02-02","x":"For Nationwide chartered banks, if you do an intra-bank funds transfer it is almost instant. 10-15 minutes later, money…"},{"t":"What are the biggest problems with today’s payment systems?","u":"what-are-the-biggest-problems-with-todays-payment-systems","c":"Payments (General)","s":["Payment Methods","Payment System Modernization"],"p":[],"d":"2015-02-02","x":"There are so many issues with payment systems, but they arise not so because of being entities themselves, but arise…"},{"t":"Why don’t banks integrate Mint directly into their sites, and is that good or bad for Mint?","u":"why-dont-banks-integrate-mint-directly-into-their-sites-and-is-that-good-or-bad-for-mint","c":"Open Banking and Account Aggregation","s":["Account Aggregation","Data Aggregators"],"p":[],"d":"2015-02-02","x":"Most do, most don\u0026#39;t. Mint (or its equivalent) that are using a free-connect model are great apps, but banks would prefer…"},{"t":"Why do banks typically not charge fees for transfers within the same bank?","u":"why-do-banks-typically-not-charge-fees-for-transfers-within-the-same-bank","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2015-02-02","x":"Because it is free and they want to incentivize it by keeping the fees $0. If there were to charge, and a competing bank…"},{"t":"How are banks regulated?","u":"how-are-banks-regulated","c":"Central Banks and Bank Supervision","s":["Bank Supervision","Banking Economics"],"p":["United States"],"d":"2015-02-01","x":"Depends. Universally, all banks are regulated at a Federal level by the Central Bank. In the US for example, either the…"},{"t":"If I want to launch an international money-transmission business, do I need licensing in every country?","u":"if-i-want-to-launch-an-international-money-transmission-business-do-i-need-licensing-in-every-countr","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensing Strategy","Licensable Activities"],"p":[],"d":"2015-02-01","x":"Not necessarily. If you do not want to go the authorized delegate (Agent) route in every country, what you can do is to…"},{"t":"What are the best books on payment infrastructure?","u":"what-are-the-best-books-on-payment-infrastructure","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Learning Resources","Publications"],"p":[],"d":"2015-02-01","x":"Honestly, nowadays, you need not invest in books. I learned everything without buying books, but then, that\u0026#39;s just me. I…"},{"t":"Why don’t developed countries like the U.S., U.K., and Australia have instant interbank transfers?","u":"why-dont-developed-countries-like-the-us-uk-and-australia-have-instant-interbank-transfers","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Instant Payments","Payment Infrastructure"],"p":["Australia","Developed Markets"],"d":"2015-02-01","x":"USA does not have a what is now affectionately called a faster payment system . To understand the magnitude of the…"},{"t":"Can merchants using processors like BitPay or Coinbase shield themselves from Bitcoin’s exchange-rate volatility?","u":"can-merchants-using-processors-like-bitpay-or-coinbase-shield-themselves-from-bitcoins-exchange-rate","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payment Processors","Crypto Payments"],"p":["Bitcoin","United States Dollar"],"d":"2015-01-12","x":"You are safe as far as volatility is concerned. If you accept Bitcoins with say BitPay and want them to be converted to…"},{"t":"What does it currently cost to purchase one bitcoin?","u":"what-does-it-currently-cost-to-purchase-one-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin","India"],"d":"2015-01-12","x":"You can use Preev.com to find out. Here is the link for the Indian Rupee: Bitcoin to Indian Rupee As of Wednesday,…"},{"t":"Which bank performs the currency conversion during a cross-border wire transfer?","u":"which-bank-performs-the-currency-conversion-during-a-cross-border-wire-transfer","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Large International Transfers"],"p":["Europe","Sweden"],"d":"2015-01-12","x":"This is a treasury/FX function. From Sweden-to-US, the deal will most likely be executed on the Swedish side, where the…"},{"t":"If $100 million suddenly appeared in my room and I deposited it into my bank account, would authorities investigate or visit me?","u":"if-100-million-suddenly-appeared-in-my-room-and-i-deposited-it-into-my-bank-account-would-authoritie","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","Financial Surveillance"],"p":[],"d":"2015-01-12","x":"$100 Million is a serious increase on any level. Any decent BI system tracking AML, will easily detect this anomaly…"},{"t":"What do consultants at the World Bank typically do?","u":"what-do-consultants-at-the-world-bank-typically-do","c":"Careers, Jobs and Working in Finance","s":["Jobs","Employment"],"p":[],"d":"2015-01-12","x":"Most World Bank consultants are niche experts in a specific field (subject matter experts) and in some cases have…"},{"t":"What is CoinX, and how does it differ from other companies in the space?","u":"what-is-coinx-and-how-does-it-differ-from-other-companies-in-the-space","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["Americas","Bitcoin"],"d":"2015-01-12","x":"CoinX ( Money Transmitter Licenses - Bitcoin Exchange | ) Is a fintech startup based out of Atlanta, GA. They are no…"},{"t":"What is a recent change in the banking industry, and what might it mean for a technology analyst?","u":"what-is-a-recent-change-in-the-banking-industry-and-what-might-it-mean-for-a-technology-analyst","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Digital Wallets"],"p":[],"d":"2015-01-12","x":"The mobile wallet is a pretty huge issue (if you will) in the banking industry. What the email did to the fax machine,…"},{"t":"How is money “virtualized,” what prevents banks from misreporting funds, and what would a new bank need to do to accept and hold digital balances?","u":"how-is-money-virtualized-what-prevents-banks-from-misreporting-funds-and-what-would-a-new-bank-need","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2015-01-12","x":"William Emmanuel Yu answers this correctly. You cannot just unilaterally go and change a value in a database. Even if…"},{"t":"What is accurate and what is misleading about the article claiming M-Pesa and Bitcoin are mirror images of each other?","u":"what-is-accurate-and-what-is-misleading-about-the-article-claiming-m-pesa-and-bitcoin-are-mirror-ima","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":["Bitcoin"],"d":"2015-01-11","x":"The comparison is correct. A little skewed, but correct. Three parallel comparisons going on here: Bitcoin the protocol…"},{"t":"Which Bitcoin startups have achieved—or are closest to achieving—product-market fit?","u":"which-bitcoin-startups-have-achievedor-are-closest-to-achievingproduct-market-fit","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2015-01-11","x":"I would say the following: BitPay (because merchant processing for Bitcoins is still a huge play) BitAccess \u0026amp; Robocoin…"},{"t":"What is the cheapest way to send money from Europe to India?","u":"what-is-the-cheapest-way-to-send-money-from-europe-to-india","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","Europe"],"d":"2015-01-11","x":"Probably Remit Guru or Times of Money. Both these services come highly recommended. http://www.remitguru.com/…"},{"t":"What is a batch payment?","u":"what-is-a-batch-payment","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Batch Payments","Payment Infrastructure"],"p":[],"d":"2015-01-11","x":"Payments that are held with an aggregator, i.e. processor and then processed at an anointed time during working day. ACH…"},{"t":"Why do so many people find Bitcoin difficult to understand?","u":"why-do-so-many-people-find-bitcoin-difficult-to-understand","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2015-01-11","x":"If you look at it as Currency, it is difficult for an average person to understand it because it is different. Bitcoin,…"},{"t":"In simple terms, what is a clearinghouse?","u":"in-simple-terms-what-is-a-clearinghouse","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Clearing Houses","Payment Clearing"],"p":[],"d":"2015-01-10","x":"Consider the following players: Bob, Linda, Mike, Jose, Megan, Patrick, and Eugene. Now consider the following…"},{"t":"What is the cheapest way to buy Bitcoin in Pakistan?","u":"what-is-the-cheapest-way-to-buy-bitcoin-in-pakistan","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Asia","Bitcoin"],"d":"2015-01-10","x":"Well, Pakistan\u0026#39;s first Bitcoin Exchange opened up, give that a try: UrduBit bitcoin exchange . Fees are reasonable,…"},{"t":"What are some standout startups in Pakistan?","u":"what-are-some-standout-startups-in-pakistan","c":"Starting and Running a Fintech or Payments Business","s":["Operations"],"p":["Asia","Emerging Markets"],"d":"2015-01-10","x":"Here are some examples (not knowing how much you want to invest in): Corner grocery/convenience store A…"},{"t":"When will Facebook add person-to-person payments to WhatsApp?","u":"when-will-facebook-add-person-to-person-payments-to-whatsapp","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":[],"d":"2015-01-10","x":"Most likely next year. See also: Faisal Khan\u0026#39;s answer to What is David Marcus\u0026#39; game plan for Facebook and Messenger as…"},{"t":"I forgot my ATM PIN—what should I do next?","u":"i-forgot-my-atm-pinwhat-should-i-do-next","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards","Card Security"],"p":[],"d":"2015-01-09","x":"Call you bank\u0026#39;s customer support department. Most bank now a days have a method by which you can set your ATM PIN over…"},{"t":"Is there an efficient way to automate making hundreds of payments to online retail customers besides PayPal?","u":"is-there-an-efficient-way-to-automate-making-hundreds-of-payments-to-online-retail-customers-besides","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Batch Payments","Account-to-Account Payments"],"p":["Americas","Developed Markets"],"d":"2015-01-09","x":"A good (read: tech savvy) ACH processor would be able to do that for you. You would need to have the account details to…"},{"t":"What is the proper definition of a third-party payment service?","u":"what-is-the-proper-definition-of-a-third-party-payment-service","c":"Payments (General)","s":["Payment Terminology","Payment Products"],"p":[],"d":"2015-01-08","x":"It is really not that easy to describe. Traditional definition cites as someone as a third party payment service if they…"},{"t":"How do banks in Pakistan recover money from borrowers who don’t pay?","u":"how-do-banks-in-pakistan-recover-money-from-borrowers-who-dont-pay","c":"Lending, Credit Scores and BNPL","s":["Collections","Debt Recovery"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-01-07","x":"I\u0026#39;m going to assume you are talking about consumer collection. It us usually done via collection agencies to whom banks…"},{"t":"How can a charity in Pakistan set up an online donation system to accept credit card payments?","u":"how-can-a-charity-in-pakistan-set-up-an-online-donation-system-to-accept-credit-card-payments","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-01-07","x":"If you are all set to accept credit cards and you have your paperwork in order (NTN, N-f-P paperwork, provincial…"},{"t":"Why do companies use Stripe instead of local banks if banks can offer much lower fees?","u":"why-do-companies-use-stripe-instead-of-local-banks-if-banks-can-offer-much-lower-fees","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":["Developed Markets","Spain"],"d":"2015-01-07","x":"Stripe\u0026#39;s pricing is simple. I\u0026#39;m sure the bank\u0026#39;s would be simple also, but the process of opening a bank account and then…"},{"t":"What is required to start a business similar to PayPal or Venmo?","u":"what-is-required-to-start-a-business-similar-to-paypal-or-venmo","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","State-by-State MTL Requirements"],"p":[],"d":"2015-01-06","x":"PayPal is a wallet operator, that is licensed in all 50 States as a Money Transmitter. To start something similar to…"},{"t":"Which payment gateways provide white-label offerings?","u":"which-payment-gateways-provide-white-label-offerings","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2015-01-06","x":"Which payment gateways provide white-label offerings?"},{"t":"How can a foreign worker send just $1 home?","u":"how-can-a-foreign-worker-send-just-1-home","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2015-01-06","x":"The only viable way to do this today is via a Peer-to-peer transfer payment network, and hope that one is operating in…"},{"t":"Which method of booking is more trustworthy—online or offline?","u":"which-method-of-booking-is-more-trustworthyonline-or-offline","c":"Fraud and Scams","s":["Scam Awareness","Fraud Prevention"],"p":[],"d":"2015-01-06","x":"Its a mix: Inquire offline, book online, confirm offline!"},{"t":"Can I open a U.S. bank account from a branch of that bank located in my home (non-U.S.) country?","u":"can-i-open-a-us-bank-account-from-a-branch-of-that-bank-located-in-my-home-non-us-country","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":[],"d":"2015-01-05","x":"No. Regardless of the US bank and the country you are in, to have a valid US bank account, you would need to be…"},{"t":"What is an effective way to define target customer segments in the payments industry?","u":"what-is-an-effective-way-to-define-target-customer-segments-in-the-payments-industry","c":"Business Strategy, Case Studies and Lessons Learned","s":["Go-to-Market","Industry Strategy"],"p":[],"d":"2015-01-05","x":"Very vast question, i doubt you would find something that is equivalent to a generic descriptor to help you with this.…"},{"t":"How does anti–money laundering policy apply to Bitcoin, and what compliance steps must I take?","u":"how-does-antimoney-laundering-policy-apply-to-bitcoin-and-what-compliance-steps-must-i-take","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Policies and Procedures"],"p":["Bitcoin"],"d":"2015-01-05","x":"Bitcoin does not have any AML policy in itself (either in the protocol or in the currency). AML policies would have to…"},{"t":"What is the typical pricing range for white-label card issuers?","u":"what-is-the-typical-pricing-range-for-white-label-card-issuers","c":"Card Networks and Card Issuing","s":["Card Issuing","Issuer Processing"],"p":["Developed Markets","EMEA"],"d":"2015-01-05","x":"In UK, give Prepaid Financial Services a try. See: Prepaid Financial Services Price range for 10,000 commit last time I…"},{"t":"How does an express (urgent) international wire differ from a standard wire transfer?","u":"how-does-an-express-urgent-international-wire-differ-from-a-standard-wire-transfer","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Thailand","United States"],"d":"2015-01-05","x":"Anything Urgent usually means it is pre-funded and is being settled before the normal net-deferred settlement times. If…"},{"t":"Is a Reuters Terminal actually better than Bloomberg for FX, and does that apply to other asset classes too?","u":"is-a-reuters-terminal-actually-better-than-bloomberg-for-fx-and-does-that-apply-to-other-asset-class","c":"FX Rates, Spreads and Currency Markets","s":["Foreign Exchange (FX)","FX Markets"],"p":[],"d":"2015-01-05","x":"Thomson-Reuters has been synonymous with FX. You think FX markets, you think Reuters. Bloomberg is a great all-rounder…"},{"t":"How can banks improve customer experience in their call centers?","u":"how-can-banks-improve-customer-experience-in-their-call-centers","c":"Consumer Protection, Customer Rights and Customer Service","s":["Customer Service Problems"],"p":[],"d":"2015-01-05","x":"One of the more recent additions (on an experimental basis) that I have seen is call centers that are connecting…"},{"t":"Is there an EU-wide KYC provider similar to IDology?","u":"is-there-an-eu-wide-kyc-provider-similar-to-idology","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","KYC Vendors"],"p":["Developed Markets","EMEA"],"d":"2015-01-05","x":"Yes, two that come to mind are: Global Data Company: https://www.globaldatacompany.com/ GB Group: http://www.gbgplc.com/"},{"t":"With oil under $50 per barrel, when would the broader stock market typically enter a bear market?","u":"with-oil-under-50-per-barrel-when-would-the-broader-stock-market-typically-enter-a-bear-market","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Stock Markets","Securities"],"p":[],"d":"2015-01-05","x":"Its nearly there... Stocks devices to reverse themselves. Most of the yearly gains would be wiped-out should we have a…"},{"t":"How do firms like BillMeLater get away with requesting only the last four digits of an SSN for CIP/Patriot Act compliance?","u":"how-do-firms-like-billmelater-get-away-with-requesting-only-the-last-four-digits-of-an-ssn-for-cippa","c":"AML Programs, KYC and Compliance Operations","s":["Customer Identification Program (CIP)","Identity Verification (IDV)"],"p":["United States","United States Dollar"],"d":"2015-01-05","x":"Because their Anti-Money Laundering (AML) manual allows them to do so. One need not need the entire SSN to verify a…"},{"t":"How do Catholic churches around the world transfer funds to the Vatican?","u":"how-do-catholic-churches-around-the-world-transfer-funds-to-the-vatican","c":"Islamic, Jewish and Faith-Based Finance","s":["Christian and Faith-Based Finance"],"p":[],"d":"2015-01-05","x":"They have regular bank accounts and they predominantly use the banking channels to send money. In certain jurisdictions…"},{"t":"Why isn’t there a single universal secure authentication method to prove identity to banks and critical websites?","u":"why-isnt-there-a-single-universal-secure-authentication-method-to-prove-identity-to-banks-and-critic","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Cybersecurity"],"p":[],"d":"2015-01-04","x":"There is very little consensus as to what identity is in the banking world, let alone a consensus for an authentication…"},{"t":"Why are international remittance fees so expensive?","u":"why-are-international-remittance-fees-so-expensive","c":"Payment Corridors and Remittance Economics","s":["Remittance Pricing","Remittance Economics"],"p":["Canada","Canadian Dollar"],"d":"2015-01-04","x":"It depends. In certain countries, cost of doing business has gone up. In most, it has gone down. It all has to do with…"},{"t":"If my U.S. company invoices a German client, must I charge VAT?","u":"if-my-us-company-invoices-a-german-client-must-i-charge-vat","c":"Tax and Financial Reporting","s":["Tax","International Tax"],"p":["Europe","European Union"],"d":"2015-01-04","x":"No Value Added Tax is applicable within your geographical bounds only. If the product and/or services being sold would…"},{"t":"Which mutual funds are considered the best investment options in Pakistan?","u":"which-mutual-funds-are-considered-the-best-investment-options-in-pakistan","c":"Wealth Management, Private Banking and Family Offices","s":["Investment Funds","Asset Management"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2015-01-04","x":"Pakistan has a lot of mutual funds that were in the Top 100 Mutual Funds of the world. Here are some funds you can…"},{"t":"How many individual banks are there worldwide?","u":"how-many-individual-banks-are-there-worldwide","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2015-01-04","x":"Between 12,000-15,000, one would have to count, but that would be a long exercise. Here is how I got that number: Faisal…"},{"t":"Where can I find the ISO 8583 message specifications for each card network such as Visa, Mastercard, and STAR?","u":"where-can-i-find-the-iso-8583-message-specifications-for-each-card-network-such-as-visa-mastercard-a","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2015-01-04","x":"For VISA, it is the Base II Code format, also known as IPM. You can contact VISAOnline and get it from there. You migth…"},{"t":"Do I need FCA registration to issue or distribute prepaid cards?","u":"do-i-need-fca-registration-to-issue-or-distribute-prepaid-cards","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["UK Licensing","E-Money"],"p":[],"d":"2015-01-04","x":"FCA registration is required only if you issue non-bank cards. Since you\u0026#39;re working with an issuing bank, you\u0026#39;d be…"},{"t":"How can I obtain prepaid cards for distribution?","u":"how-can-i-obtain-prepaid-cards-for-distribution","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards","Card Program Management"],"p":[],"d":"2015-01-04","x":"Similar to this answer (See: Faisal Khan\u0026#39;s answer to Can I handle the printing of white-label cards for my business? ),…"},{"t":"Can I handle printing of white-label payment cards for my business?","u":"can-i-handle-printing-of-white-label-payment-cards-for-my-business","c":"Card Networks and Card Issuing","s":["Card Issuing","Issuer Processing"],"p":[],"d":"2015-01-04","x":"Not without investing heavily in technology, which would require money, time and domain knowledge. There are many bureau…"},{"t":"How does the distribution process for prepaid cards work?","u":"how-does-the-distribution-process-for-prepaid-cards-work","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards","Card Program Management"],"p":[],"d":"2015-01-04","x":"Distribution is usually outsourced. Unless you, yourself own and maintain a distribution network, it is more pragmatic…"},{"t":"Is gold a dependable store of value for holding wealth?","u":"is-gold-a-dependable-store-of-value-for-holding-wealth","c":"Economics, Inflation and Monetary Policy","s":["Financial Theory","Macroeconomics"],"p":[],"d":"2015-01-03","x":"Gold is not a reliably way of storing anything but itself. Its long term properties are unique to the metal itself only…"},{"t":"What are the similarities and differences between hawala transfers and currency swaps?","u":"what-are-the-similarities-and-differences-between-hawala-transfers-and-currency-swaps","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Hawala","Informal Finance"],"p":[],"d":"2015-01-03","x":"Absolutely! The only difference between the two being one is not documented and the other is, but both Hawala and the…"},{"t":"In banking, what is a “gray screen transaction”?","u":"in-banking-what-is-a-gray-screen-transaction","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)"],"p":[],"d":"2015-01-03","x":"It is not mandatory that large transactions have to go through SWIFT. If the two banks have a direct (trusted)…"},{"t":"Immigrants \u0026 Remittances: Why do people keep sending money back “home” for decades?","u":"immigrants-amp-remittances-why-do-people-keep-sending-money-back-home-for-decades","c":"General Finance Questions","s":["General Finance Questions"],"p":["Egypt","Global South"],"d":"2015-01-03","x":"Many studies by World Bank and UN Population Division, IOM (International Office for Migration) and many other…"},{"t":"For Dubai-based e-commerce in the Middle East, which payment gateway would you recommend?","u":"for-dubai-based-e-commerce-in-the-middle-east-which-payment-gateway-would-you-recommend","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["EMEA","Gulf Cooperation Council"],"d":"2015-01-03","x":"For Dubai-based e-commerce in the Middle East, which payment gateway would you recommend?"},{"t":"Is there a card.io-style scanning tool for checks?","u":"is-there-a-cardio-style-scanning-tool-for-checks","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Payment APIs"],"p":[],"d":"2015-01-03","x":"What you\u0026#39;re looking at is essentially check-truncation. You would need to work with Cam-Scanner Apps and use their…"},{"t":"What is the least expensive jurisdiction for setting up a commercial bank?","u":"what-is-the-least-expensive-jurisdiction-for-setting-up-a-commercial-bank","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Jurisdiction Selection","Licensing Costs"],"p":["Malta"],"d":"2015-01-03","x":"What is the least expensive jurisdiction for setting up a commercial bank?"},{"t":"Why do startups struggle to obtain merchant accounts?","u":"why-do-startups-struggle-to-obtain-merchant-accounts","c":"Merchant Accounts, Processors and Gateways","s":["Merchant Accounts","Payment Processors"],"p":[],"d":"2015-01-02","x":"Merchant Account approval is all the rage these days. Imagine companies that are outside the traditional countries, who…"},{"t":"What are the pros and cons of working with U.S. financial regulators?","u":"what-are-the-pros-and-cons-of-working-with-us-financial-regulators","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulators"],"p":["Americas","New York"],"d":"2015-01-02","x":"I think one would be hard-pressed to find a single Pro regarding working with US Financial Regulators. You\u0026#39;d have to…"},{"t":"Does Linden Lab need a money-transmitter license for the Linden Dollar economy inside Second Life?","u":"does-linden-lab-need-a-money-transmitter-license-for-the-linden-dollar-economy-inside-second-life","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":[],"d":"2015-01-02","x":"No, Linden Labs does not require a Money Transmitter License for their closed loop virtual currency. The currency can…"},{"t":"What might a future “converged” ecosystem of multiple mobile financial services operators look like?","u":"what-might-a-future-converged-ecosystem-of-multiple-mobile-financial-services-operators-look-like","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2015-01-02","x":"The converged eco-system would look very simple. Here is some information from Ooredoo who also presented something…"},{"t":"Why aren’t banks run as franchised businesses?","u":"why-arent-banks-run-as-franchised-businesses","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":["Canada","Developed Markets"],"d":"2015-01-01","x":"Great question. Banks don\u0026#39;t franchise primarily because of three reasons: Financial Regulator: The central banks (and/or…"},{"t":"What are the five most commonly used money transfer services aside from PayPal?","u":"what-are-the-five-most-commonly-used-money-transfer-services-aside-from-paypal","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2015-01-01","x":"Some other notable mentions in the world of money transfer are: Society for Worldwide Interbank Financial…"},{"t":"Is it risky to share my account and routing numbers with an employer?","u":"is-it-risky-to-share-my-account-and-routing-numbers-with-an-employer","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Direct Deposit","ACH"],"p":["Americas","Developed Markets"],"d":"2015-01-01","x":"The ACH system in the US is pretty weak on security, so it can be abused on that front. If your employer is asking this…"},{"t":"My brother wants private banking services — which UAE bank should he contact?","u":"my-brother-wants-private-banking-services-which-uae-bank-should-he-contact","c":"Wealth Management, Private Banking and Family Offices","s":["Wealth Management"],"p":["EMEA","Gulf Cooperation Council"],"d":"2015-01-01","x":"Barclays Wealth (their version of Private Banking) and HSBC Private Banking are both rock-solid banks to do business…"},{"t":"What real-world problems does Bitcoin solve that existing financial systems cannot solve as effectively?","u":"what-real-world-problems-does-bitcoin-solve-that-existing-financial-systems-cannot-solve-as-effectiv","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin","India"],"d":"2015-01-01","x":"Micro-payments . There are literally 1000s of cases where micro-payments are the need of the hour, but traditional…"},{"t":"How did firms like Simple and PayPal initially gain trust as places for customers to store their money?","u":"how-did-firms-like-simple-and-paypal-initially-gain-trust-as-places-for-customers-to-store-their-mon","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Fintech Banking Relationships","Partner Banks"],"p":[],"d":"2015-01-01","x":"PayPal is a wallet, not a bank. So the money being loaded on to the wallet, is still with the banks that PayPal deals…"},{"t":"If I operate a platform connecting buyers and sellers, can I earn revenue from the credit-card transactions between them?","u":"if-i-operate-a-platform-connecting-buyers-and-sellers-can-i-earn-revenue-from-the-credit-card-transa","c":"E-Commerce, Marketplace and Platform Payments","s":["Marketplace Payments","Platform Payments"],"p":[],"d":"2015-01-01","x":"Yes, this is known as a marketplace, and specialized processors will allow you to process card payments and be able to…"},{"t":"In the U.S., what regulations apply to businesses that handle, hold, and transfer customer money?","u":"in-the-us-what-regulations-apply-to-businesses-that-handle-hold-and-transfer-customer-money","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Transmitter Licenses (MTL)"],"p":["Americas","Developed Markets"],"d":"2015-01-01","x":"If you hold money and/or transfer money, you\u0026#39;re essentially an e-money and a financial intermediary respectively. You…"},{"t":"Is there a service that works like a virtual wallet where users can deposit and withdraw funds?","u":"is-there-a-service-that-works-like-a-virtual-wallet-where-users-can-deposit-and-withdraw-funds","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Stored Value"],"p":[],"d":"2015-01-01","x":"Any E-money wallet provider would satisfy that: PayPal, Venmo, Snapcash, Dwolla, etc."},{"t":"What are the strongest arguments for Satoshi Nakamoto to stay anonymous or to reveal their identity?","u":"what-are-the-strongest-arguments-for-satoshi-nakamoto-to-stay-anonymous-or-to-reveal-their-identity","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":[],"d":"2014-12-12","x":"How does knowing the author of TCP or HTTP or SMTP make it any different as to how we use their services? I\u0026#39;ve never…"},{"t":"Could Bitcoin be shut down like Liberty Reserve because of unethical or illegal use?","u":"could-bitcoin-be-shut-down-like-liberty-reserve-because-of-unethical-or-illegal-use","c":"Regulators, Enforcement and Regulatory Change","s":["Regulatory Enforcement","Enforcement Actions"],"p":["Bitcoin"],"d":"2014-12-12","x":"Bitcoin is a protocol that is running in a distributed peer-to-peer environment, you can\u0026#39;t exactly shut it down, unless…"},{"t":"Which companies manufacture banknote recyclers used in cash-accepting ATMs?","u":"which-companies-manufacture-banknote-recyclers-used-in-cash-accepting-atms","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2014-12-12","x":"You\u0026#39;re talking about an RCDM - Recycle Cash Deposit Machine . Almost all manufacturers make it. Diebold, NCR, OKI, GRG,…"},{"t":"On our homepage, we tried to clearly communicate the mission of our payment service—how well did we do?","u":"on-our-homepage-we-tried-to-clearly-communicate-the-mission-of-our-payment-servicehow-well-did-we-do","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":[],"d":"2014-12-12","x":"Blunt answer: I pride myself in being able to understand payment systems (companies, products, people) almost…"},{"t":"Who are Bitcoin’s main competitors among digital currencies?","u":"who-are-bitcoins-main-competitors-among-digital-currencies","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2014-12-11","x":"Here are all the list of cryptocurrencies: List of cryptocurrencies As you can see from the market capitalization table,…"},{"t":"What risks could I face if I open a U.S. bank account on behalf of my aunt and uncle?","u":"what-risks-could-i-face-if-i-open-a-us-bank-account-on-behalf-of-my-aunt-and-uncle","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Financial Services Law","Law"],"p":["Americas","Developed Markets"],"d":"2014-12-11","x":"Very simple. You\u0026#39;d be responsible for any and all activity that happens in your account. I don\u0026#39;t think the defense that…"},{"t":"How would someone set up an insurance agency like Prudential or AIA today?","u":"how-would-someone-set-up-an-insurance-agency-like-prudential-or-aia-today","c":"Insurance and Risk Management","s":["Insurance Industry","Insurance Regulation"],"p":[],"d":"2014-12-11","x":"You would need to apply for an Insurance License in each state. Just like an MSB, the each State regulates Insurance…"},{"t":"Is Bitcoin essentially a new gambling system presenting itself as a payment method?","u":"is-bitcoin-essentially-a-new-gambling-system-presenting-itself-as-a-payment-method","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2014-12-11","x":"Where is the gambling aspect of it? Price speculation? That anyone can do with anything. But seriously, specifically…"},{"t":"With the newer RBI guidelines, which major players could realistically pursue setting up a bank?","u":"with-the-newer-rbi-guidelines-which-major-players-could-realistically-pursue-setting-up-a-bank","c":"Regulators, Enforcement and Regulatory Change","s":["Regulatory Change","Regulation"],"p":["Emerging Market Licensing","India"],"d":"2014-12-10","x":"Reliance Industries (Mukesh Ambani group) is already working hard with financial consultants to get a bank setup. This…"},{"t":"How do KYC requirements differ for an MSB versus a bank?","u":"how-do-kyc-requirements-differ-for-an-msb-versus-a-bank","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","Anti-Money Laundering (AML)"],"p":[],"d":"2014-12-09","x":"Pretty much the same. They both in some manner have to look at the PATRIOT Act as well as the BSA (Bank Secrecy Act).…"},{"t":"Which major tech companies hold MSB licenses, and what do they use them for?","u":"which-major-tech-companies-hold-msb-licenses-and-what-do-they-use-them-for","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business License","Money Services Business (MSB)"],"p":["California","New York"],"d":"2014-12-09","x":"To get a rough semblance of who the big players are with Money Transmitter Licenses, look towards California and New…"},{"t":"Where can you get a debit card online without maintaining a bank account?","u":"where-can-you-get-a-debit-card-online-without-maintaining-a-bank-account","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards","Prepaid Cards"],"p":["United States"],"d":"2014-12-09","x":"You cannot get a debit card (strictly speaking) without a bank \u0026amp;/or e-wallet account, however, you can get a prepaid…"},{"t":"How do P2P transfer apps like Square, Venmo, and PayPal work—do they use their own merchant accounts, and can they initiate ACH transfers between accounts on users’ behalf?","u":"how-do-p2p-transfer-apps-like-square-venmo-and-paypal-workdo-they-use-their-own-merchant-accounts-an","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":["Australia","Australian Dollar"],"d":"2014-12-08","x":"All payments are peer-to-peer. The basic axioms of a payment being made is typically there are two peers, one gets the…"},{"t":"How do platforms like E*TRADE connect to multiple stock exchanges?","u":"how-do-platforms-like-etrade-connect-to-multiple-stock-exchanges","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Securities","Stock Markets"],"p":[],"d":"2014-12-08","x":"There are various companies that specialize in providing access to market data feeds and trading connects. Some examples…"},{"t":"What could happen to Bitcoin if Satoshi Nakamoto’s identity were discovered?","u":"what-could-happen-to-bitcoin-if-satoshi-nakamotos-identity-were-discovered","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2014-12-08","x":"Barring the paparazzi outside his/her home, nothing!"},{"t":"What is the most important thing U.S. tourists should keep in mind when traveling internationally?","u":"what-is-the-most-important-thing-us-tourists-should-keep-in-mind-when-traveling-internationally","c":"Payments (General)","s":["TIPS"],"p":[],"d":"2014-12-08","x":"Two things immediately come to mind: Calm the fuck down. No need to be too loud. No, we don\u0026#39;t know how \u0026#34;Back in…"},{"t":"What are the main barriers for Skype to enter the remittance market?","u":"what-are-the-main-barriers-for-skype-to-enter-the-remittance-market","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Market Entry Strategy"],"p":[],"d":"2014-12-08","x":"Inside story from a colleague who worked very closely on this: When Microsoft purchased, the go-forward plan included a…"},{"t":"How does a payment system like PayPal function end to end?","u":"how-does-a-payment-system-like-paypal-function-end-to-end","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Peer-to-Peer Payments"],"p":[],"d":"2014-12-08","x":"I wrote an answer that pretty much is what you\u0026#39;re looking for: Faisal Khan\u0026#39;s answer to What is a Paypal account? Is it a…"},{"t":"How would U.S. casinos operate if the U.S. became a cashless society?","u":"how-would-us-casinos-operate-if-the-us-became-a-cashless-society","c":"High-Risk Industries","s":["Gambling Payments","High-Risk Verticals"],"p":["Americas","Developed Markets"],"d":"2014-12-08","x":"Betting \u0026amp; Gambling is already going digital. Traditional casinos have a hard time keeping up. If the society is truly…"},{"t":"Will financial regulation end up weakening global economic stability?","u":"will-financial-regulation-end-up-weakening-global-economic-stability","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulatory Policy Debates"],"p":[],"d":"2014-12-08","x":"Contrary to popular belief, financial regulations keep things in check. As much as I hate them (being from the same…"},{"t":"Is it normal for USD transfers within the EU to take around four days?","u":"is-it-normal-for-usd-transfers-within-the-eu-to-take-around-four-days","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["EMEA","Europe"],"d":"2014-12-08","x":"This transaction should have cleared the next day because of SEPA (as everyone has highlighted). Couple of reasons here…"},{"t":"Who is the current commissioner of the Georgia Department of Economic Development?","u":"who-is-the-current-commissioner-of-the-georgia-department-of-economic-development","c":"General Finance Questions","s":["General"],"p":[],"d":"2014-12-07","x":"Chris Carr Ref: Commissioner Chris Carr - Georgia Department of Economic Development"},{"t":"How could Bitcoin-style technology power a global fast peer-to-peer payments system with minimal fees without becoming its own currency?","u":"how-could-bitcoin-style-technology-power-a-global-fast-peer-to-peer-payments-system-with-minimal-fee","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain Technology","Distributed Ledgers"],"p":[],"d":"2014-12-06","x":"You could create a peer-to-peer (trading) payment system (with some added trust), the likes of which CurrencyFair or…"},{"t":"If bill-pay transactions cost banks money, why do some accounts waive monthly fees only when a minimum number of transactions are completed?","u":"if-bill-pay-transactions-cost-banks-money-why-do-some-accounts-waive-monthly-fees-only-when-a-minimu","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2014-12-06","x":"The more automated the process, the more cheaper it is for the bank and the utility company (for example) to process a…"},{"t":"Foreign Exchange: Why does CurrencyCloud maintain such a large network of global banking partners?","u":"foreign-exchange-why-does-currencycloud-maintain-such-a-large-network-of-global-banking-partners","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Banking Relationships","Correspondent Tie-Ups"],"p":[],"d":"2014-12-06","x":"Presumably to offer settlement in those countries, in their currencies. You can also suddenly have a lot of settlement…"},{"t":"How can I find a payment processor in the UK for third-party (brokered) transactions that isn’t PayPal?","u":"how-can-i-find-a-payment-processor-in-the-uk-for-third-party-brokered-transactions-that-isnt-paypal","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Developed Markets","EMEA"],"d":"2014-12-06","x":"Search for 3rd part payment providers or payment service providers in the UK. There are many PSPs in UK/EU who will…"},{"t":"Why don’t people simply borrow large sums from banks and disappear?","u":"why-dont-people-simply-borrow-large-sums-from-banks-and-disappear","c":"Lending, Credit Scores and BNPL","s":["Credit Risk","Loan Underwriting"],"p":[],"d":"2014-12-06","x":"Very, very few people are successful in scamming the banks, i.e. taking high-value loans and then defaulting and…"},{"t":"How can someone with no credit use a high income to build credit more quickly?","u":"how-can-someone-with-no-credit-use-a-high-income-to-build-credit-more-quickly","c":"Lending, Credit Scores and BNPL","s":["Credit Building","Consumer Credit"],"p":[],"d":"2014-12-06","x":"Make sure everything is pinned to your Social Security Number (your apartment, your utilities, your income, etc.) Take a…"},{"t":"Is it technically feasible for the RBA to issue AUD using Ripple or Stellar-style technology?","u":"is-it-technically-feasible-for-the-rba-to-issue-aud-using-ripple-or-stellar-style-technology","c":"Stablecoins and CBDCs","s":["Central Bank Digital Currencies (CBDC)","CBDC Design"],"p":["Australia","Australian Dollar"],"d":"2014-12-05","x":"Absolutely. Ripple, Stellar and Hyperledger can do that. You can go and make your own quantity and currency and manage…"},{"t":"AML: After HSBC and Citibank, which financial institution might regulators target next for AML or sanctions violations?","u":"aml-after-hsbc-and-citibank-which-financial-institution-might-regulators-target-next-for-aml-or-sanc","c":"Regulators, Enforcement and Regulatory Change","s":["Regulatory Enforcement","Regulation"],"p":["Developed Markets","MENA (Middle East and North Africa)"],"d":"2014-12-04","x":"If I had to fathom a guess, most likely JP Morgan Chase. Their international (cross-border) transactions are huge,…"},{"t":"Why haven’t startups—or Facebook—leveraged Facebook’s massive user base for money-transfer services?","u":"why-havent-startupsor-facebookleveraged-facebooks-massive-user-base-for-money-transfer-services","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Market Entry Strategy"],"p":["Europe","European Union"],"d":"2014-12-04","x":"Payments on the Facebook platform for commercial money transfer services has been the proverbial $64 Million question…"},{"t":"Why have cross-border money transfer startups become so popular recently?","u":"why-have-cross-border-money-transfer-startups-become-so-popular-recently","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":["Bangladesh","Emerging Markets"],"d":"2014-12-04","x":"Remittances or (cross border) Money Transfer has always been a hot field. It has been steadily growing strong each year…"},{"t":"How could someone potentially grow $1 million into $10 million in under five years?","u":"how-could-someone-potentially-grow-1-million-into-10-million-in-under-five-years","c":"Wealth Management, Private Banking and Family Offices","s":["Wealth Management","Asset Management"],"p":[],"d":"2014-12-04","x":"Invest in emerging market mutual funds. They have for the past years given returns in excess of 20+%"},{"t":"How do governments and financial institutions detect and disrupt terrorist financing networks?","u":"how-do-governments-and-financial-institutions-detect-and-disrupt-terrorist-financing-networks","c":"Money Laundering and Financial Crime","s":["Terrorist Financing","Financial Crime"],"p":[],"d":"2014-12-04","x":"Most of them are selling their cause. Plenty of sympathizers who will gladly contribute donations towards the cause.…"},{"t":"Is it technically feasible for the Reserve Bank of Australia to issue AUD today using a blockchain-based system?","u":"is-it-technically-feasible-for-the-reserve-bank-of-australia-to-issue-aud-today-using-a-blockchain-b","c":"Stablecoins and CBDCs","s":["Central Bank Digital Currencies (CBDC)","CBDC Design"],"p":["Australia","Australian Dollar"],"d":"2014-12-04","x":"Right now, the Blockchain is tracking only a single asset, i.e. the bitcoin. So it cannot do Australian Dollars. If the…"},{"t":"Does TransferWise build direct banking relationships in each country or rely on backend networks like Earthport?","u":"does-transferwise-build-direct-banking-relationships-in-each-country-or-rely-on-backend-networks-lik","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Fintech Banking Relationships","Banking Access"],"p":["Germany","United Kingdom"],"d":"2014-12-03","x":"From the looks of it and what one can read about them, it seems their model primarily works on the Net-Off basis. Ex: If…"},{"t":"What are the minimum requirements to open a café in Singapore?","u":"what-are-the-minimum-requirements-to-open-a-caf-in-singapore","c":"General Finance Questions","s":["General"],"p":["Singapore"],"d":"2014-12-03","x":"Go to Enterprise One website (the official website operated by the Government of Singapore). In industries, you can…"},{"t":"What would you do today if your total savings amounted to only $10,000?","u":"what-would-you-do-today-if-your-total-savings-amounted-to-only-10000","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Saving"],"p":["United States Dollar"],"d":"2014-12-03","x":"Be somewhat content, that if you were really down on your fortunes, and depending where in the world you are, you have…"},{"t":"Why can’t we have a single government-owned bank for everyone?","u":"why-cant-we-have-a-single-government-owned-bank-for-everyone","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2014-12-03","x":"Historically and statistically, people have shown that a government ruins just about everything it tries to run \u0026amp;/or…"},{"t":"Why was Bitcoin created in the first place?","u":"why-was-bitcoin-created-in-the-first-place","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2014-12-02","x":"In hindsight one can say the following factors probably contributed towards its creation: Anonymity (from a Payments…"},{"t":"Who are the biggest buyers of foreign currency, and what motivates those purchases?","u":"who-are-the-biggest-buyers-of-foreign-currency-and-what-motivates-those-purchases","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Foreign Exchange (FX)"],"p":[],"d":"2014-12-02","x":"Typically the largest buyers of Forex are banks who need to the currency pair to trade on behalf of their customers.…"},{"t":"How was the standard size for credit cards and business cards determined?","u":"how-was-the-standard-size-for-credit-cards-and-business-cards-determined","c":"History of Money, Banking and Finance","s":["History of Payment Systems"],"p":["China","France"],"d":"2014-12-01","x":"There is a lot of rich history behind the business (or visiting) card. The credit card was just the business card…"},{"t":"Would it be easy for hackers to create counterfeit bitcoins?","u":"would-it-be-easy-for-hackers-to-create-counterfeit-bitcoins","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2014-12-01","x":"Luke Parker provides a rock-solid explanation. Another analogous way of looking at it, as follows. The world of digital…"},{"t":"What is the likely future of Bitcoin—will it become mainstream or fade in popularity, and for what reasons?","u":"what-is-the-likely-future-of-bitcoinwill-it-become-mainstream-or-fade-in-popularity-and-for-what-rea","c":"Blockchain and Distributed Ledger Technology","s":["Distributed Ledgers","Blockchain Technology"],"p":["Bitcoin"],"d":"2014-11-12","x":"I think this video by Andreas Antonopoulos on Bitcoin at Disrupt is a great insight on the future of Bitcoin. As Andreas…"},{"t":"Money Transfers: How much of Western Union’s remittance profits could Bitcoin potentially capture?","u":"money-transfers-how-much-of-western-unions-remittance-profits-could-bitcoin-potentially-capture","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Western Union"],"p":["Bitcoin"],"d":"2014-11-12","x":"Very little (if at all). The change would be so small, that it would hardly be noticeable at present. If you were to…"},{"t":"How might Bitcoin change the remittance industry, if at all?","u":"how-might-bitcoin-change-the-remittance-industry-if-at-all","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Remittances","Crypto Payments"],"p":["Bangladesh","Bitcoin"],"d":"2014-11-12","x":"Bitcoin will not change remittance , bitcoin itself is remittance. Remittance is just nomenclature for cross-border…"},{"t":"Why should Bitcoin fall under money-laundering regulations?","u":"why-should-bitcoin-fall-under-money-laundering-regulations","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":["Bitcoin"],"d":"2014-11-12","x":"As a regulator in any country, it becomes their fiduciary duty to ensure that money laundering, etc. is mitigated and…"},{"t":"What is the best payment processor that earns commission on transactions?","u":"what-is-the-best-payment-processor-that-earns-commission-on-transactions","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Marketplace Payments"],"p":[],"d":"2014-11-10","x":"Braintree Marketplace? (See Braintree ) Seems like it will do just what you are asking for."},{"t":"Has anyone been prosecuted for trading Bitcoin in countries where it’s prohibited?","u":"has-anyone-been-prosecuted-for-trading-bitcoin-in-countries-where-its-prohibited","c":"Regulators, Enforcement and Regulatory Change","s":["Regulatory Enforcement","Regulation"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-11-10","x":"I\u0026#39;ve been following Bangladesh closely, no convictions so far."},{"t":"I want to build a subscription-based online store where users can pay via PayPal, cards, and Bitcoin—what no-code (ideally free) WordPress plugins or other tools can I use?","u":"i-want-to-build-a-subscription-based-online-store-where-users-can-pay-via-paypal-cards-and-bitcoinwh","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Subscription Billing"],"p":["Bitcoin"],"d":"2014-11-10","x":"WooCommerce by WooThemes. Absolutely free. For recurring billing, there are paid plug-ins. No coding required. Rock…"},{"t":"Why do central banks publicly disclose foreign exchange reserves instead of keeping speculators uncertain?","u":"why-do-central-banks-publicly-disclose-foreign-exchange-reserves-instead-of-keeping-speculators-unce","c":"Central Banks and Bank Supervision","s":["Central Banks","Central Bank Policy"],"p":[],"d":"2014-11-10","x":"Transparency reduces speculation as everyone is privy to the same information. Having said that, the reason Central…"},{"t":"What is a good credit card for frequent international travelers?","u":"what-is-a-good-credit-card-for-frequent-international-travelers","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2014-11-09","x":"American Express and two different bank issued VISA/Mastercard. Many a times you will come across a hotel or retailer…"},{"t":"What is your view on Dwolla as a payments platform?","u":"what-is-your-view-on-dwolla-as-a-payments-platform","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Account-to-Account Payments"],"p":["United States"],"d":"2014-11-09","x":"​ Dwolla is doing everything right ! They are one of the very few companies I have great admiration and respect for.…"},{"t":"What is the IBFT fee charged by Pakistani banks?","u":"what-is-the-ibft-fee-charged-by-pakistani-banks","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","Indian Subcontinent"],"d":"2014-11-09","x":"There are three models: Rs. 0 - Subsidized (i.e. free, the bank pays for it, to retain you as a client) Rs. 50 - This is…"},{"t":"Is it realistically possible to enforce an outright Bitcoin ban?","u":"is-it-realistically-possible-to-enforce-an-outright-bitcoin-ban","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulatory Enforcement"],"p":["Bitcoin"],"d":"2014-11-09","x":"Not the underlying protocol/technology in itself. However any trading (buying, selling, swapping, etc.) of Bitcoins…"},{"t":"What unique advantage made PayPal so successful in its early days?","u":"what-unique-advantage-made-paypal-so-successful-in-its-early-days","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Insights","Success Stories"],"p":[],"d":"2014-11-08","x":"From an outsiders perspective, here is what (in my opinion) was unique about them when they were starting out: Payment…"},{"t":"How can an international money-transfer business effectively use Ripple?","u":"how-can-an-international-money-transfer-business-effectively-use-ripple","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":[],"d":"2014-11-08","x":"Ripple (payment network) is slated (in my opinion) to gain traction for financial transactions. Two things are important…"},{"t":"How far behind is Singapore’s telecom infrastructure compared with countries that have more advanced systems?","u":"how-far-behind-is-singapores-telecom-infrastructure-compared-with-countries-that-have-more-advanced","c":"General Finance Questions","s":["General"],"p":["Singapore"],"d":"2014-11-08","x":"You\u0026#39;re kidding right? You do know Singapore probably has one of the world\u0026#39;s most advance telecommunication…"},{"t":"How is the maximum number of virtual machines a computer can run determined?","u":"how-is-the-maximum-number-of-virtual-machines-a-computer-can-run-determined","c":"Payments (General)","s":["TIPS"],"p":[],"d":"2014-11-08","x":"Nope. You can run as many as you want. They each would require some CPU power and some memory. For example if you have a…"},{"t":"If I sell Bitcoin online on a recurring basis (for example using PayPal or Stripe), do I need to register as a money services business?","u":"if-i-sell-bitcoin-online-on-a-recurring-basis-for-example-using-paypal-or-stripe-do-i-need-to-regist","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["UK Crypto Registration (FCA)","UK Licensing"],"p":["Bitcoin","EMEA"],"d":"2014-11-08","x":"Insofar as I can tell, the UK has not yet started licensing Bitcoin businesses, i.e. if you are selling Bitcoins for…"},{"t":"What are PayPal’s main strategic objectives?","u":"what-are-paypals-main-strategic-objectives","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Business Insights"],"p":["California","Luxembourg"],"d":"2014-11-08","x":"Summary (tl;dr) To become dual entity: PayPal is already a Licensed Money Transmitter and it will eventually become…"},{"t":"How do ATMs and internet/mobile banking systems enable bill payments and mobile top-ups for telecom providers?","u":"how-do-atms-and-internetmobile-banking-systems-enable-bill-payments-and-mobile-top-ups-for-telecom-p","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2014-11-08","x":"This is done through the financial middleware solutions that are typically installed in a bank. The middleware solution…"},{"t":"Do the British Virgin Islands use an ACH system?","u":"do-the-british-virgin-islands-use-an-ach-system","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":["British Virgin Islands","Offshore Financial Centers"],"d":"2014-11-06","x":"Essentially Yes. Source: World Payments Guide World Payments Guide"},{"t":"At what exchange rates are international wire transfers executed?","u":"at-what-exchange-rates-are-international-wire-transfers-executed","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Large International Transfers"],"p":["United States"],"d":"2014-11-06","x":"It all depends. Typically for a wire transfer from one currency into another, the recipient country/bank would determine…"},{"t":"What does a startup CTO actually do and own responsibility for?","u":"what-does-a-startup-cto-actually-do-and-own-responsibility-for","c":"Careers, Jobs and Working in Finance","s":["Jobs","Employment"],"p":[],"d":"2014-11-06","x":"Varies from start-up to start-up, but from what I have seen, the person is the Head of Technology. They are technically…"},{"t":"In payments, what does the term “rails” mean?","u":"in-payments-what-does-the-term-rails-mean","c":"Payments (General)","s":["Payment Terminology","Payment Basics"],"p":[],"d":"2014-11-05","x":"In the payments world when we cite Rails we are referring to the technology and network stack. Another way of thinking…"},{"t":"Which RBI rules and regulations does PayPal have to follow?","u":"which-rbi-rules-and-regulations-does-paypal-have-to-follow","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulators"],"p":["India","India PPI Licensing"],"d":"2014-11-05","x":"Pranav Zota pretty much nails it. The wallet regulation is covered by the Payment \u0026amp; Settlement Act of 2007 and a few…"},{"t":"What are virtual credit cards?","u":"what-are-virtual-credit-cards","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2014-11-05","x":"Regular credit cards, except no plastic. A Virtual Credit Card, comes from VCT (Virtual Card Technology) and is…"},{"t":"How can a money-transfer startup scale and enter additional countries?","u":"how-can-a-money-transfer-startup-scale-and-enter-additional-countries","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":[],"d":"2014-11-04","x":"You can do this in many ways (depending on how much time and money you have on your hands): You can start writing to the…"},{"t":"Why is PayPal classified as a stored-value facility in Singapore if it doesn’t require approval from the Monetary Authority of Singapore?","u":"why-is-paypal-classified-as-a-stored-value-facility-in-singapore-if-it-doesnt-require-approval-from","c":"Licensing in Other Countries","s":["Singapore Payment Services Act (MAS)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-11-04","x":"In Singapore, the MAS (Monetary Authority of Singapore) has given an exemption to SVF (Stored Value Facility) from the…"},{"t":"How can retailers who import goods from China compete with sellers based in China?","u":"how-can-retailers-who-import-goods-from-china-compete-with-sellers-based-in-china","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Business Insights"],"p":["China"],"d":"2014-11-03","x":"Those who sell directly from China, do so on a wholesale level, i.e. they mostly do not offer individual (or small…"},{"t":"Which companies provide ACH payment services?","u":"which-companies-provide-ach-payment-services","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2014-11-03","x":"Not sure if this is the answer you are looking for. There isn\u0026#39;t anything that I know of, that is referred to ACH-to-ACH…"},{"t":"In the U.S., which common payment, wire, banking, card, or check problems should technology realistically eliminate within a year?","u":"in-the-us-which-common-payment-wire-banking-card-or-check-problems-should-technology-realistically-e","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Legacy Payment Systems"],"p":["Americas","Developed Markets"],"d":"2014-11-03","x":"Checks are definitely something people are using less and less. Though they would not be eliminated all together, their…"},{"t":"What is payment card aggregation and how does the model operate?","u":"what-is-payment-card-aggregation-and-how-does-the-model-operate","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2014-11-01","x":"Payment card aggregation are essentially PSPs who process payments for merchants who otherwise don\u0026#39;t have the…"},{"t":"Virtual Currency: What is the connection between Second Life’s currency and Bitcoin?","u":"virtual-currency-what-is-the-connection-between-second-lifes-currency-and-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Cryptocurrency Basics","Bitcoin"],"p":["Bitcoin"],"d":"2014-10-12","x":"Both are Virtual (for the Internet). If you are specifically speaking about Linden Dollars and Bitcoins, there are then…"},{"t":"Who is responsible for creating money within a country, and how frequently does this occur?","u":"who-is-responsible-for-creating-money-within-a-country-and-how-frequently-does-this-occur","c":"Economics, Inflation and Monetary Policy","s":["Money Creation","Macroeconomics"],"p":[],"d":"2014-10-12","x":"Its mostly the Central Banks. Government may or may not have a say in this (depending on which country in question we…"},{"t":"Which altcoin is best suited for sending remittances to family back home?","u":"which-altcoin-is-best-suited-for-sending-remittances-to-family-back-home","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Remittances","Crypto Payments"],"p":[],"d":"2014-10-12","x":"You can pretty much use any altcoin to send money across borders. That is really not the issue. The problem you will…"},{"t":"What are the best categories of online payment methods for businesses or consumers?","u":"what-are-the-best-categories-of-online-payment-methods-for-businesses-or-consumers","c":"Fraud and Scams","s":["Fraud Risk Management","Payment Fraud"],"p":[],"d":"2014-10-12","x":"Quite frankly, if you\u0026#39;re okay with a payment method that prevents fraud 80% of the time, this means you are looking at a…"},{"t":"How can someone transfer money from Nigeria to Pakistan?","u":"how-can-someone-transfer-money-from-nigeria-to-pakistan","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Africa","Asia"],"d":"2014-10-12","x":"Bank transfers work well, in the event you do not want to go that route, Western Union and MoneyGram serve equally well."},{"t":"Who moved 195,000 BTC (about $147M at the time) on November 22, 2013?","u":"who-moved-195000-btc-about-147m-at-the-time-on-november-22-2013","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Trading","Crypto Speculation"],"p":["Bitcoin","United States Dollar"],"d":"2014-10-11","x":"You\u0026#39;ll probably never know (that\u0026#39;s how Bitcoin in itself was designed to be). Most likely guess, someone taking a…"},{"t":"If you were to launch a payments startup one year from now, what kind of business would you build?","u":"if-you-were-to-launch-a-payments-startup-one-year-from-now-what-kind-of-business-would-you-build","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Payments Business Models"],"p":[],"d":"2014-10-11","x":"Personally, for myself, the most lucrative market is in the developing world, where margins are decent and innovation is…"},{"t":"What is the best way to transition from investment banking into the tech industry?","u":"what-is-the-best-way-to-transition-from-investment-banking-into-the-tech-industry","c":"Careers, Jobs and Working in Finance","s":["Employment","Jobs"],"p":[],"d":"2014-10-11","x":"What is the best way to transition from investment banking into the tech industry?"},{"t":"I make about $700/month profit after four years—what should I do next to grow?","u":"i-make-about-700month-profit-after-four-yearswhat-should-i-do-next-to-grow","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance","Scaling a Payments Business"],"p":[],"d":"2014-10-10","x":"I make about $700/month profit after four years—what should I do next to grow?"},{"t":"Is there a directory of small investment businesses in Pakistan, and who are they?","u":"is-there-a-directory-of-small-investment-businesses-in-pakistan-and-who-are-they","c":"General Finance Questions","s":["General Finance Questions","General"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-10-09","x":"You may want to check with SMEDA - they might have it. Small and Medium Enterprises Development Authority"},{"t":"Has anyone tried launching prepaid shopping cards in Pakistan that work across multiple online stores?","u":"has-anyone-tried-launching-prepaid-shopping-cards-in-pakistan-that-work-across-multiple-online-store","c":"Licensing in Other Countries","s":["Pakistan Licensing (SBP)"],"p":["Asia","Indian Subcontinent"],"d":"2014-10-09","x":"Yes, and many have been stopped. Open-loop store-value cards cannot be sold at retail locations without a license from…"},{"t":"Since ACH and card payments can be reversed or charged back, is there any electronic payment method in the U.S. that is truly irreversible?","u":"since-ach-and-card-payments-can-be-reversed-or-charged-back-is-there-any-electronic-payment-method-i","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Finality","Payment Infrastructure"],"p":["Americas","Developed Markets"],"d":"2014-10-09","x":"An irrevocable payment guarantee / bond being cashed out is a one-way transaction. Cannot be reversed."},{"t":"What are good resources for learning Bitcoin, and why are they recommended?","u":"what-are-good-resources-for-learning-bitcoin-and-why-are-they-recommended","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Learning Resources","Content"],"p":["Bitcoin"],"d":"2014-10-09","x":"Honestly... YouTube! Tons of resources there. bitcoin andreas antonopoulos - YouTube"},{"t":"Why don’t Pakistani online businesses accept Bitcoin payments?","u":"why-dont-pakistani-online-businesses-accept-bitcoin-payments","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto-to-Fiat Conversion"],"p":["Asia","Bitcoin"],"d":"2014-10-09","x":"Assuming they do, so how do you solve the following issue: Where will your Buyers get/obtain Bitcoins from easily to…"},{"t":"What is the difference between a pay-through account and a correspondent account?","u":"what-is-the-difference-between-a-pay-through-account-and-a-correspondent-account","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Banking Relationships","Money Plumbing (How Money Moves)"],"p":[],"d":"2014-10-08","x":"Pay-through is a direct association between two banks, without the need of going through an intermediary. Correspondent…"},{"t":"What distinguishes banking products from banking services?","u":"what-distinguishes-banking-products-from-banking-services","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2014-10-08","x":"Banking services use banking products and/or products and services of other banks."},{"t":"Which companies provide reputable high-risk merchant accounts?","u":"which-companies-provide-reputable-high-risk-merchant-accounts","c":"Merchant Accounts, Processors and Gateways","s":["High-Risk Merchant Accounts","Payment Processors"],"p":[],"d":"2014-10-08","x":"Honestly, very difficult to answer straight away. The thing about high-risk payment service providers (PSPs) is that so…"},{"t":"Online Payments: How can NGOs in India accept donations from abroad?","u":"online-payments-how-can-ngos-in-india-accept-donations-from-abroad","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-10-08","x":"You can always use one of the Indian online payment gateways. They might even lower their fees for the NGO in view of…"},{"t":"If you sell B2B services on credit without established terms, is it reasonable to request a formal 12-month cash flow projection?","u":"if-you-sell-b2b-services-on-credit-without-established-terms-is-it-reasonable-to-request-a-formal-12","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Open Account Trade","Accounts Receivable"],"p":[],"d":"2014-10-08","x":"If you\u0026#39;re extending credit, you have all the right to ask for revenue projections for the next 12 months (for example).…"},{"t":"What would happen if everyone’s bank balance globally increased by $1 million USD instantly—would this be beneficial, dangerous, or both?","u":"what-would-happen-if-everyones-bank-balance-globally-increased-by-1-million-usd-instantlywould-this","c":"Economics, Inflation and Monetary Policy","s":["Macroeconomics","Financial Theory"],"p":["United States Dollar"],"d":"2014-10-08","x":"It essentially does nothing, since you\u0026#39;ve increased wealth all around by the same amount (assuming that everyone those…"},{"t":"In the U.S., are credit cards essentially necessary to live a normal life compared with debit cards or cash?","u":"in-the-us-are-credit-cards-essentially-necessary-to-live-a-normal-life-compared-with-debit-cards-or","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":["Americas","Developed Markets"],"d":"2014-10-08","x":"Not really. I know a lot of people who have absolutely shunned credit cards, and live in the US only on cheques and…"},{"t":"Which U.S. bank is best for a startup offering money transmission services like PayPal?","u":"which-us-bank-is-best-for-a-startup-offering-money-transmission-services-like-paypal","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Fintech Banking Relationships","Bank Onboarding for Regulated Firms"],"p":["United States"],"d":"2014-10-06","x":"Not clear if you already have a money transmitter license? In the event you do, finding a bank to work with you is going…"},{"t":"If we don’t hold U.S. MSB coverage across most states or an EU EMI license, which partner company is best to work with to offer a digital wallet or micropayments solution?","u":"if-we-dont-hold-us-msb-coverage-across-most-states-or-an-eu-emi-license-which-partner-company-is-bes","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensing Strategy","Licensable Activities"],"p":["Developed Markets","Europe"],"d":"2014-10-06","x":"This is no easy feat. In both the cases, either in US or Europe you would need someone with a Money Transmitter Licenses…"},{"t":"Does the size or scale of a business impact whether it is considered a money transmitter?","u":"does-the-size-or-scale-of-a-business-impact-whether-it-is-considered-a-money-transmitter","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":[],"d":"2014-10-06","x":"Answering with respect to the points listed in your Question details: (1). Grey area, but yes, you\u0026#39;re leaning towards a…"},{"t":"What does a stronger U.S. dollar mean for the economy?","u":"what-does-a-stronger-us-dollar-mean-for-the-economy","c":"Economics, Inflation and Monetary Policy","s":["Currency","Macroeconomics"],"p":["United States","United States Dollar"],"d":"2014-10-06","x":"*Imports will be cheaper, and would most likely rise (you can now buy more on a per Dollar basis). Exports will likely…"},{"t":"How could Facebook payments influence global remittances for businesses?","u":"how-could-facebook-payments-influence-global-remittances-for-businesses","c":"Payment Corridors and Remittance Economics","s":["Remittance Economics","Remittance Corridors"],"p":[],"d":"2014-10-06","x":"Remittances are increasing, with or without Messenger Payments. The more players who enter the field, to be able to…"},{"t":"How do commercial banks insure archived or offsite-stored records and documents, and what insurance policies do they use?","u":"how-do-commercial-banks-insure-archived-or-offsite-stored-records-and-documents-and-what-insurance-p","c":"Insurance and Risk Management","s":["Business Continuity and Resilience","Operational Risk"],"p":[],"d":"2014-10-06","x":"Commercial banks have a regulatory requirement to store records for a minimum of 7 years, in some cases/countries it is…"},{"t":"How frequently do hackers attempt to access online bank accounts, and what is the average number of daily attempts per account?","u":"how-frequently-do-hackers-attempt-to-access-online-bank-accounts-and-what-is-the-average-number-of-d","c":"Cybersecurity, Digital Identity and Authentication","s":["Cybersecurity","Hacking"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-10-05","x":"So from South Asia / ME / South East Asia perspective, the attempts are numerous. In the recent months, phishing…"},{"t":"Is launching a small ISO payment-gateway reseller business a good opportunity in a smaller European market?","u":"is-launching-a-small-iso-payment-gateway-reseller-business-a-good-opportunity-in-a-smaller-european","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":["Central Europe","EMEA"],"d":"2014-10-05","x":"It depends. Since Eastern Europe is right next door to Europe (Central), the question you have to ask yourself is what…"},{"t":"Where can I obtain detailed data on incoming remittances to countries such as India, Pakistan, and Bangladesh?","u":"where-can-i-obtain-detailed-data-on-incoming-remittances-to-countries-such-as-india-pakistan-and-ban","c":"Payment Corridors and Remittance Economics","s":["Remittance Data","Remittance Statistics"],"p":["Asia","Bangladesh"],"d":"2014-10-04","x":"For Bangladesh, you can get it directly from Bangladesh Bank\u0026#39;s website (which is the central bank of Bangladesh): Page…"},{"t":"What trends will shape the future of worker remittances from the Middle East to India, Pakistan, Bangladesh, Vietnam, and the Philippines?","u":"what-trends-will-shape-the-future-of-worker-remittances-from-the-middle-east-to-india-pakistan-bangl","c":"Payment Corridors and Remittance Economics","s":["Remittance Economics","Remittance Corridors"],"p":["Asia","Bangladesh"],"d":"2014-10-04","x":"For the immediate 5-7 years, the future is bright. There is no denying that. Remittances from Middle East will keep…"},{"t":"If I’m a licensed MSB outside the U.S., can I legally operate an online service offering transfers from the U.S. to my country?","u":"if-im-a-licensed-msb-outside-the-us-can-i-legally-operate-an-online-service-offering-transfers-from","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":[],"d":"2014-10-04","x":"It all depends on how you have structured yourself and how you are soliciting business from the US for purposes of Money…"},{"t":"Remittances: How are AML/KYC responsibilities divided for online transfers from the U.S. to foreign countries?","u":"remittances-how-are-amlkyc-responsibilities-divided-for-online-transfers-from-the-us-to-foreign-coun","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","Know Your Customer (KYC)"],"p":[],"d":"2014-10-04","x":"AML-KYC is the responsibility of both the parties. From the US (Remitting side) your US based MSB is responsible for…"},{"t":"Money Transfers: Can a Western Union transfer sent to one country be picked up in another?","u":"money-transfers-can-a-western-union-transfer-sent-to-one-country-be-picked-up-in-another","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2014-10-04","x":"Yes you can, provided your identification papers match up. This is very common. Western Union excels at this, when…"},{"t":"Online Payments: Is it acceptable to use a friend’s U.S. bank account to receive funds for my startup?","u":"online-payments-is-it-acceptable-to-use-a-friends-us-bank-account-to-receive-funds-for-my-startup","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Getting Paid from Abroad"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-10-04","x":"Robert Oswald pretty much nailed it. In addition to must also thing about the tax consequences your friend will have to…"},{"t":"Why aren’t transit cards accepted for general-purpose payments?","u":"why-arent-transit-cards-accepted-for-general-purpose-payments","c":"US Money Transmitter Licensing and MSB Registration","s":["Prepaid Access","US Licensing"],"p":["Americas","Developed Markets"],"d":"2014-10-03","x":"I believe, when you make a card that can be used in other business locales, the card essentially becomes a Store Value…"},{"t":"Does PayPal sometimes hold users’ funds without clear justification?","u":"does-paypal-sometimes-hold-users-funds-without-clear-justification","c":"Consumer Protection, Customer Rights and Customer Service","s":["Frozen Accounts and Holds","Consumer Protection"],"p":[],"d":"2014-10-03","x":"PayPal does not close account for no reasons . Your fears are not unwarranted, PayPal has been known in many cases to…"},{"t":"Does every dollar that exists digitally also have a corresponding physical form somewhere?","u":"does-every-dollar-that-exists-digitally-also-have-a-corresponding-physical-form-somewhere","c":"Stablecoins and CBDCs","s":["Digital Dollar"],"p":[],"d":"2014-10-03","x":"No. That would be considered double-issuance. Its either/or, Digital issuance or Physical issuance."},{"t":"How many credit cards do you typically carry in your wallet?","u":"how-many-credit-cards-do-you-typically-carry-in-your-wallet","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Debit Cards"],"p":[],"d":"2014-10-02","x":"Zero. I rely totally on my multiple bank issued Debit cards and a couple of Prepaid Debit Cards."},{"t":"Is PayPal better led by an executive from a company like AmEx or by a startup-style CEO?","u":"is-paypal-better-led-by-an-executive-from-a-company-like-amex-or-by-a-startup-style-ceo","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Insights","Industry Strategy"],"p":[],"d":"2014-10-02","x":"At the top, its all about managing people, translating the vision into reality and in many cases, helping define that…"},{"t":"What is the purpose of offshore banking, and what is the rationale behind it?","u":"what-is-the-purpose-of-offshore-banking-and-what-is-the-rationale-behind-it","c":"Opening Bank Accounts, Personal and Business","s":["Offshore Banking","Offshore Bank Accounts"],"p":["United States"],"d":"2014-10-01","x":"One of the primary reason to choose off-shore banking is the taxation exemption status you would enjoy (this too now is…"},{"t":"As a publisher wanting to launch an online bookstore, which payment gateway should I use and what steps should I follow to set up a proper site for selling books?","u":"as-a-publisher-wanting-to-launch-an-online-bookstore-which-payment-gateway-should-i-use-and-what-ste","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Online Checkout"],"p":[],"d":"2014-09-12","x":"Since you\u0026#39;re starting out, you want to spend the least amount of money in building an online and focus more on building…"},{"t":"What is the difference between Visa and Interac?","u":"what-is-the-difference-between-visa-and-interac","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Visa"],"p":["Americas","Canada"],"d":"2014-09-12","x":"VISA is a card scheme. They work with banks around the world for issuing of VISA branded cards/products and also do…"},{"t":"Why are there two different logos printed on my debit card?","u":"why-are-there-two-different-logos-printed-on-my-debit-card","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards","Card Program Management"],"p":[],"d":"2014-09-12","x":"Can be many reasons. Most likely the card is white-labeled by a bank, so it will carry the logo of the issuing bank and…"},{"t":"How does the payment-processing industry function end-to-end?","u":"how-does-the-payment-processing-industry-function-end-to-end","c":"Payments (General)","s":["Payment Industry Overview","Payment Basics"],"p":["United States"],"d":"2014-09-12","x":"The term Payments Processing is a pretty wide term, and if you take a look at the world, there is more to payments…"},{"t":"Will Apple Pay push mobile payments into the mainstream?","u":"will-apple-pay-push-mobile-payments-into-the-mainstream","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Digital Wallets"],"p":[],"d":"2014-09-12","x":"Most likely. The phone is morphing from a delivery channel to a payment instrument. Apple influences a large swath of…"},{"t":"Money Laundering: What do sanctions regulations say about receiving funds from Sudan into the UK?","u":"money-laundering-what-do-sanctions-regulations-say-about-receiving-funds-from-sudan-into-the-uk","c":"Sanctions, Embargoes and Screening","s":["Sanctions","Sanctions Compliance"],"p":["Africa","Restricted Jurisdictions"],"d":"2014-09-11","x":"Your best bet is to email/contact the Financial Conduct Authority in UK (See: Home - Financial Conduct Authority )"},{"t":"How does a company become an ACH processor that submits ACH transactions on behalf of merchants?","u":"how-does-a-company-become-an-ach-processor-that-submits-ach-transactions-on-behalf-of-merchants","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2014-09-11","x":"Assuming you have the software/technology aspect taken care of, becoming an ACH processor on behalf of merchants is…"},{"t":"What is the best Bitcoin platform or service currently available in Pakistan?","u":"what-is-the-best-bitcoin-platform-or-service-currently-available-in-pakistan","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Fiat On-Ramps","Crypto-to-Fiat Conversion"],"p":["Bitcoin","Pakistan"],"d":"2014-09-09","x":"Not yet. There is no international service that is touching the Pakistani Banking systems right now. This soon may…"},{"t":"What are the licensing costs for Visa and Mastercard for both issuing and acquiring operations?","u":"what-are-the-licensing-costs-for-visa-and-mastercard-for-both-issuing-and-acquiring-operations","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Scheme Fees"],"p":[],"d":"2014-09-08","x":"Both Mastercard \u0026amp; VISA have a very detailed (pre-ready) proposal document that your rep should be able to provide to…"},{"t":"If you could place all your savings into one investment for the next 30–50 years, which investment would maximize returns?","u":"if-you-could-place-all-your-savings-into-one-investment-for-the-next-3050-years-which-investment-wou","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Securities","Stock Markets"],"p":[],"d":"2014-09-08","x":"No one can predict the market accurately 1 week from now, let alone 30-50 years from now. It would be extremely…"},{"t":"How do banks detect counterfeit currency notes?","u":"how-do-banks-detect-counterfeit-currency-notes","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2014-09-08","x":"By serial number, no. Mostly banks cannot identify notes, unless they do some kind of a UV light test and a chemical pen…"},{"t":"How can someone make money while traveling by exploiting differences in exchange rates?","u":"how-can-someone-make-money-while-traveling-by-exploiting-differences-in-exchange-rates","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Parallel Market Rates","Currency Convertibility"],"p":["Argentina","Argentine Peso"],"d":"2014-09-07","x":"For most countries no. Unless you\u0026#39;re taking with you tons and tons of cash. The price differential between two…"},{"t":"How do countries transfer billions of dollars to each other?","u":"how-do-countries-transfer-billions-of-dollars-to-each-other","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":["Philippines","United States"],"d":"2014-09-07","x":"Using settlement banks directly, or utilizing the BIS (Bank for International Settlements) introductions. It is not done…"},{"t":"How might Pakistan’s current political situation affect gold prices and the PKR exchange rate over the coming year (2015)?","u":"how-might-pakistans-current-political-situation-affect-gold-prices-and-the-pkr-exchange-rate-over-th","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Exchange Rates"],"p":["Pakistan","Pakistani Rupee"],"d":"2014-09-07","x":"IMF sees a 13% depreciation in the USD-PKR rate. Future projection: IMF sees 13% depreciation of Pakistani rupee"},{"t":"Is there a SaaS platform that handles ACH payments?","u":"is-there-a-saas-platform-that-handles-ach-payments","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2014-09-07","x":"ACHeck21 has a cloud platform: Page on acheck21.com so do companies like Nucleus Software and a host of other companies.…"},{"t":"What is likely to be Facebook’s overall payments strategy?","u":"what-is-likely-to-be-facebooks-overall-payments-strategy","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Market Entry Strategy"],"p":[],"d":"2014-09-06","x":"The fork in the road for Facebook: DIY or Partner up? There are many avenues of approach that Facebook can take. A lot…"},{"t":"How do Pakistani software companies manage recurring payments when no local e-payment infrastructure exists?","u":"how-do-pakistani-software-companies-manage-recurring-payments-when-no-local-e-payment-infrastructure","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Getting Paid from Abroad","Online Payment Platforms"],"p":["Asia","Emerging Markets"],"d":"2014-09-06","x":"Most Pakistani software companies are okay with SWIFT transfers coming into their accounts. For those that have a SaaS…"},{"t":"How did you earn your first billion dollars?","u":"how-did-you-earn-your-first-billion-dollars","c":"General Finance Questions","s":["General","General Finance Questions"],"p":[],"d":"2014-09-06","x":"Haven\u0026#39;t made it that far... yet. But its nice to be able to look up to the goal! :)"},{"t":"How long should an international bank transfer sent via SWIFT take, and why do some transfers take 3–5 days instead of the expected 1–2 days?","u":"how-long-should-an-international-bank-transfer-sent-via-swift-take-and-why-do-some-transfers-take-35","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2014-09-06","x":"Bank to Bank transfer is usually 1-2 days (keeping into consideration time differences, if applicable). Also you need to…"},{"t":"What is the term for accepting payments on someone else’s behalf?","u":"what-is-the-term-for-accepting-payments-on-someone-elses-behalf","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2014-09-05","x":"Marketplace? Merchant of Record? Payment Aggregator? Third Party Payment Processor?"},{"t":"If an ACH network offers multiple settlement cycles per day, are participants required to submit files for each cycle?","u":"if-an-ach-network-offers-multiple-settlement-cycles-per-day-are-participants-required-to-submit-file","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2014-09-05","x":"It would depend. Most likely not. Your originating transaction would be part of some cycle. Your main goal would be to…"},{"t":"Are there any open-source software solutions designed specifically for the money transfer industry?","u":"are-there-any-open-source-software-solutions-designed-specifically-for-the-money-transfer-industry","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2014-09-05","x":"None are available, in so far as I know. There were a few attempts to have this going, but no progress was made. A few…"},{"t":"How can a company obtain its own bank routing number and issue account numbers?","u":"how-can-a-company-obtain-its-own-bank-routing-number-and-issue-account-numbers","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":["Americas","Developed Markets"],"d":"2014-09-04","x":"From a US perspective, the routing numbers (or ABA Routing Numbers) are issued only to Federal or State chartered…"},{"t":"Is a peer-to-peer money-transfer app considered a product or a service?","u":"is-a-peer-to-peer-money-transfer-app-considered-a-product-or-a-service","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":[],"d":"2014-09-04","x":"Strictly speaking, this would be a product (as it is something that can be sold, leased, put a value on). It provides a…"},{"t":"Why haven’t mobile payment systems achieved broader consumer adoption?","u":"why-havent-mobile-payment-systems-achieved-broader-consumer-adoption","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":["Bangladesh","Emerging Markets"],"d":"2014-09-03","x":"Necessity is the mother of all inventions! Add behaviour change to it and you have the answer. In the West (eg: US,…"},{"t":"How can someone make online purchases without using a credit card?","u":"how-can-someone-make-online-purchases-without-using-a-credit-card","c":"E-Commerce, Marketplace and Platform Payments","s":["Alternative Payment Methods","E-Commerce Payments"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-09-03","x":"Depends where I am shopping: Domestically (Pakistan), 90-95% of the online shopping market is cash on delivery, which…"},{"t":"What is the best bank card for sending or accessing money globally?","u":"what-is-the-best-bank-card-for-sending-or-accessing-money-globally","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2014-09-02","x":"Not to beat up on the question, but this would depend what your definition of global is. Insofar as I can tell, there…"},{"t":"Which payment methods do people in Pakistan commonly use to pay for Facebook ad campaigns?","u":"which-payment-methods-do-people-in-pakistan-commonly-use-to-pay-for-facebook-ad-campaigns","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-09-01","x":"Pakistani Debit cards (some of them) do work on Facebook. You have to call up the bank to have them open it up. Standard…"},{"t":"What is the best POS system to use with a BigCommerce store?","u":"what-is-the-best-pos-system-to-use-with-a-bigcommerce-store","c":"Merchant Accounts, Processors and Gateways","s":["Point of Sale (POS)","POS Terminals"],"p":[],"d":"2014-09-01","x":"Zing Checkout. See: iPad, Android, PC and Mac Point of Sale | POS"},{"t":"What is the best way to store Bitcoins securely?","u":"what-is-the-best-way-to-store-bitcoins-securely","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Crypto Wallets"],"p":["Bitcoin"],"d":"2014-08-12","x":"What is the best way to store Bitcoins securely?"},{"t":"If U.K. regulation can legitimize Bitcoin, when might the U.S. formally legitimize it as well?","u":"if-uk-regulation-can-legitimize-bitcoin-when-might-the-us-formally-legitimize-it-as-well","c":"Crypto and VASP Licensing","s":["Crypto Regulation","Crypto Licensing"],"p":["Americas","Bitcoin"],"d":"2014-08-11","x":"The US is in the process of introducing legislation on a State level. One would start seeing the results come out…"},{"t":"What could be done to make the banking sector in your country more innovative?","u":"what-could-be-done-to-make-the-banking-sector-in-your-country-more-innovative","c":"Open Banking and Account Aggregation","s":["Open Banking","Open Finance"],"p":[],"d":"2014-08-11","x":"Couple of suggestions... Release APIs for banking \u0026amp; payments. Settle all payments via the switch in real-time for a flat…"},{"t":"How serious a threat is Bitcoin to remittance giants like Western Union and MoneyGram?","u":"how-serious-a-threat-is-bitcoin-to-remittance-giants-like-western-union-and-moneygram","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Legacy MTOs"],"p":["Bitcoin","United States Dollar"],"d":"2014-08-10","x":"Not much for the years to come (I would wager 2-3 years safely). Whilst Bitcoin certainly has the rails to make payments…"},{"t":"In which countries do people prefer to use cash exclusively rather than bank cards?","u":"in-which-countries-do-people-prefer-to-use-cash-exclusively-rather-than-bank-cards","c":"Payments (General)","s":["Payment Methods","Cash"],"p":[],"d":"2014-08-10","x":"Cards are not accepted in every place around the world (especially the rural areas in many countries). Cash is still…"},{"t":"Monetization: What can 1 BTC buy in your local area or country?","u":"monetization-what-can-1-btc-buy-in-your-local-area-or-country","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments"],"p":["Bitcoin","Pakistan"],"d":"2014-08-10","x":"Pakistan: At the moment, nothing since Bitcoin is not accepted anywhere. Hopefully that will be changing."},{"t":"Why do international wire transfers cost so much and require so much time to complete?","u":"why-do-international-wire-transfers-cost-so-much-and-require-so-much-time-to-complete","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2014-08-10","x":"It costs money to move money. There are so many people, systems, networks and processes involved, all this costs money.…"},{"t":"Why can international bank transfers take days or weeks when emails move in seconds?","u":"why-can-international-bank-transfers-take-days-or-weeks-when-emails-move-in-seconds","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Banking Relationships","Money Plumbing (How Money Moves)"],"p":[],"d":"2014-08-09","x":"For banks it is a matter of having a trust relationship with another bank. If two banks that are in different countries…"},{"t":"What are the key regulations governing mobile payments and virtual currencies?","u":"what-are-the-key-regulations-governing-mobile-payments-and-virtual-currencies","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","State-by-State MTL Requirements"],"p":["Americas","Developed Markets"],"d":"2014-08-09","x":"The key regulation for start-ups in the US is if they are classified as a money transmitter or not by the various US…"},{"t":"What are some of the world’s main tax havens?","u":"what-are-some-of-the-worlds-main-tax-havens","c":"Tax and Financial Reporting","s":["Tax Havens","International Tax"],"p":["Bahrain","Cyprus"],"d":"2014-08-09","x":"So many... (but then caveats apply from which country your citizenship is from): Singapore Switzerland Bahrain Ireland…"},{"t":"What rules apply when transferring money from a foreign bank to a U.S. bank if the account holder is on a temporary work visa with a valid SSN?","u":"what-rules-apply-when-transferring-money-from-a-foreign-bank-to-a-us-bank-if-the-account-holder-is-o","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Receiving Money from Abroad (Consumer)"],"p":["United States"],"d":"2014-08-09","x":"As long as you have an account in the US, you can transfer as much as you like. There is no restriction on you being a…"},{"t":"How many bank branches exist worldwide?","u":"how-many-bank-branches-exist-worldwide","c":"General Finance Questions","s":["General Finance Questions"],"p":["United States"],"d":"2014-08-09","x":"The US has slightly less than 8,000 banks/credit unions. For the rest of the world, you could estimate it by averaging…"},{"t":"Is PayPal’s withdrawal limit legally permitted?","u":"is-paypals-withdrawal-limit-legally-permitted","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Financial Services Law","Law"],"p":[],"d":"2014-08-09","x":"Yes, since they are not a bank, they are not regulated in any manner to provide you with cash management services (State…"},{"t":"Does the phrase “Payment Due Upon Completion” specify cash or check payment, or does it simply mean payment is required once the work is finished?","u":"does-the-phrase-payment-due-upon-completion-specify-cash-or-check-payment-or-does-it-simply-mean-pay","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Legal Terminology (Legalese)","Law"],"p":[],"d":"2014-08-09","x":"No you are not wrong. The sentence is not complete. It could very well mean that when completion is achieved, you have…"},{"t":"What is the best method to determine the historical value of currency, such as the worth of 1,000 francs in France in 1830?","u":"what-is-the-best-method-to-determine-the-historical-value-of-currency-such-as-the-worth-of-1000-fran","c":"History of Money, Banking and Finance","s":["Economic History","Financial History"],"p":["Developed Markets","EMEA"],"d":"2014-08-09","x":"Couple of options for you: Historical Currency Conversions Page on Nationalarchives Historic inflation calculator: how…"},{"t":"What are the key differences between a core banking system and a billing system?","u":"what-are-the-key-differences-between-a-core-banking-system-and-a-billing-system","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2014-08-09","x":"A Core Banking System is the very heart (or centre) of a bank. There is nothing more central than this. The core banking…"},{"t":"What is the absolute cheapest way for an online business to move $1 between two users?","u":"what-is-the-absolute-cheapest-way-for-an-online-business-to-move-1-between-two-users","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments"],"p":[],"d":"2014-08-08","x":"Dwolla - payment between two users for under $10 is free."},{"t":"Online Payments: What does it take to start a Square-like payments company in the Middle East?","u":"online-payments-what-does-it-take-to-start-a-square-like-payments-company-in-the-middle-east","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":["EMEA","Emerging Markets"],"d":"2014-08-08","x":"Just a couple of things: Register as a Financial Services company Register with VISA/MasterCard (if you will be…"},{"t":"How can I convert cryptocurrencies into Indian rupees, and is there any way to do this via PayPal?","u":"how-can-i-convert-cryptocurrencies-into-indian-rupees-and-is-there-any-way-to-do-this-via-paypal","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto-to-Fiat Conversion","Fiat Off-Ramps"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-08-08","x":"You\u0026#39;ll have to either go to a Local Exchange or via a Local Bitcoin meet-up and exchange from there. Try finding someone…"},{"t":"I have 5 rupees—how can I become a millionaire?","u":"i-have-5-rupeeshow-can-i-become-a-millionaire","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy"],"p":["Indian Rupee"],"d":"2014-08-08","x":"You need to be creative and believe in yourself. There is a man by the name of Kyle MacDonald, who took a red paperclip…"},{"t":"When users receive free virtual currency that then circulates, is it similar to a government printing additional banknotes?","u":"when-users-receive-free-virtual-currency-that-then-circulates-is-it-similar-to-a-government-printing","c":"Economics, Inflation and Monetary Policy","s":["Currency","Money Supply"],"p":[],"d":"2014-08-08","x":"Yes. Unless the supply of money is fixed, any additional new money introduced into the money supply will cause the value…"},{"t":"What are some foreign-language movies with mind-bending plot twists?","u":"what-are-some-foreign-language-movies-with-mind-bending-plot-twists","c":"Payments (General)","s":["TIPS"],"p":[],"d":"2014-08-08","x":"IMDB: Intacto (2001) https://www.youtube.com/watch?v=..."},{"t":"What is required to become a Visa or Mastercard issuer?","u":"what-is-required-to-become-a-visa-or-mastercard-issuer","c":"Card Networks and Card Issuing","s":["Card Issuing","Card Schemes and Networks"],"p":[],"d":"2014-08-08","x":"You\u0026#39;d have to be an acquiring bank (Visa / Mastercard only work with banks). In the absence of being a bank yourself,…"},{"t":"Where do the large fines paid by banks mostly end up being used?","u":"where-do-the-large-fines-paid-by-banks-mostly-end-up-being-used","c":"Regulators, Enforcement and Regulatory Change","s":["Regulatory Fines","Regulatory Penalties"],"p":[],"d":"2014-08-07","x":"They go back into the kitty of the regulators, thus easing their financials. Most of the money is spent on fixing budget…"},{"t":"Are Visa Checkout and MasterPass genuine threats to PayPal, and how should PayPal respond?","u":"are-visa-checkout-and-masterpass-genuine-threats-to-paypal-and-how-should-paypal-respond","c":"Business Strategy, Case Studies and Lessons Learned","s":["Competitive Analysis","Industry Strategy"],"p":[],"d":"2014-08-07","x":"Potentially everything is a threat to PayPal. The question that begs to be asked is if VISA Checkout or MasterPass will…"},{"t":"How do remittance cards function for sending and receiving money?","u":"how-do-remittance-cards-function-for-sending-and-receiving-money","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Receiving Money from Abroad (Consumer)"],"p":["Philippines"],"d":"2014-08-07","x":"Remittance Cards are nothing more than loadable wallets or loadable card scheme cards on the beneficiary end. The added…"},{"t":"What are the differences between a management information system (MIS) and a transaction processing system (TPS)?","u":"what-are-the-differences-between-a-management-information-system-mis-and-a-transaction-processing-sy","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2014-08-07","x":"An MIS is a more or less a dashboard for executive level (read: macro) indicators of whatever it is you are monitoring.…"},{"t":"Online Payments: My ATM-only card number (not a debit card) was used for a PIN-less debit, and the bank says that shouldn’t be possible—how could this have happened?","u":"online-payments-my-atm-only-card-number-not-a-debit-card-was-used-for-a-pin-less-debit-and-the-bank","c":"Credit, Debit and Prepaid Cards","s":["Card Security","Card Disputes"],"p":[],"d":"2014-08-06","x":"Don\u0026#39;t worry how. It\u0026#39;s the bank\u0026#39;s problem, not yours. They would be liable for any PIN-less transaction that were to…"},{"t":"Which Bitcoin trading exchanges in India provide an API?","u":"which-bitcoin-trading-exchanges-in-india-provide-an-api","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Asia","Bitcoin"],"d":"2014-08-06","x":"BTCXIndia has an API (albeit right now it is only for the price ticker). You might want to contact them and inquire if…"},{"t":"Which government is most likely to be the first to formally recognize Bitcoin as a currency?","u":"which-government-is-most-likely-to-be-the-first-to-formally-recognize-bitcoin-as-a-currency","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulatory Updates"],"p":["Bitcoin","Germany"],"d":"2014-08-06","x":"Germany was the first country to recognize bitcoin as private money (or currency). Germany recognizes Bitcoin as…"},{"t":"Bitcoin Startups: What are the strengths and weaknesses of Expresscoin right now?","u":"bitcoin-startups-what-are-the-strengths-and-weaknesses-of-expresscoin-right-now","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2014-08-06","x":"As I have been A2A, I\u0026#39;ll say there is nothing bad about Expresscoin. Like many other bitcoin startups, it is great to se…"},{"t":"What are the most effective practical ways to shift from using credit cards to using cash?","u":"what-are-the-most-effective-practical-ways-to-shift-from-using-credit-cards-to-using-cash","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Prepaid Cards"],"p":[],"d":"2014-08-04","x":"Pre-paid Re-loadable Debit Card. Load what you want, spend what you like. If the card is ever compromised, your bank…"},{"t":"Is it possible to add a plugin to U.S. e-commerce platforms like Magento so customers can pay with alternatives to PayPal and cards?","u":"is-it-possible-to-add-a-plugin-to-us-e-commerce-platforms-like-magento-so-customers-can-pay-with-alt","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Alternative Payment Methods"],"p":["Americas","Developed Markets"],"d":"2014-08-04","x":"Absolutely. That\u0026#39;s the whole beauty of a flexible shopping cart system, allowing you to develop a payment\u0026#39;s plug-in that…"},{"t":"What does it mean when your bank asks for details about your business and sources of funds?","u":"what-does-it-mean-when-your-bank-asks-for-details-about-your-business-and-sources-of-funds","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Policies and Procedures"],"p":[],"d":"2014-08-04","x":"This is mostly likely due to either (a) random audit, or (b) the BI (business intelligence) rules has flagged your…"},{"t":"Which reliable financial institutions provide offshore or anonymous debit cards?","u":"which-reliable-financial-institutions-provide-offshore-or-anonymous-debit-cards","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards","Prepaid Cards"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-08-01","x":"I doubt you would be able to find pre-paid debit cards off-shore that are designed to be anonymous in nature. Speaking…"},{"t":"What are some examples of early-stage Bitcoin startups?","u":"what-are-some-examples-of-early-stage-bitcoin-startups","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Bitcoin"],"d":"2014-08-01","x":"CoinX-Trader - https://www.coinxtrader.com/ - The only licensed and regulated Bitcoin Exchange in the US. [Founder: User…"},{"t":"What are the steps required to launch a Bitcoin exchange in the United States?","u":"what-are-the-steps-required-to-launch-a-bitcoin-exchange-in-the-united-states","c":"Crypto and VASP Licensing","s":["Starting a Crypto Exchange or VASP","Crypto Regulation"],"p":["Americas","Bitcoin"],"d":"2014-08-01","x":"Depends how you want to approach the problem. Do you want to do it legally or illegally (as most US based exchanges are…"},{"t":"Does a money-transfer company have to register in the sending country, the receiving country, or both?","u":"does-a-money-transfer-company-have-to-register-in-the-sending-country-the-receiving-country-or-both","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Starting a Remittance Business"],"p":["United Kingdom"],"d":"2014-08-01","x":"Money Transfer is regulated. Needless to say, you would need to register as a licensed MTO (Money Transfer Operator) in…"},{"t":"Will Bitcoin ATMs be successful in the future?","u":"will-bitcoin-atms-be-successful-in-the-future","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Bitcoin ATMs (BTM)","Crypto ATMs"],"p":["Bitcoin"],"d":"2014-08-01","x":"They will. Simply put money in, Bitcoins out. I think what will do even better than Bitcoin ATMs are Bitcoin Kiosks."},{"t":"How can an Indian citizen open a bank account in the U.S., UK, or another country?","u":"how-can-an-indian-citizen-open-a-bank-account-in-the-us-uk-or-another-country","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Developed Markets","India"],"d":"2014-07-12","x":"First, let me answer your Question in reverse. Your question comment does not indicate clearly as to what you are trying…"},{"t":"What does the future look like for Facebook as an e-commerce platform?","u":"what-does-the-future-look-like-for-facebook-as-an-e-commerce-platform","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments"],"p":[],"d":"2014-07-12","x":"Pretty Bright! If you look at Facebook by the sheer size of its ecosystem, the number of users on it (especially outside…"},{"t":"What regulatory requirements must be met to run a business like PayPal?","u":"what-regulatory-requirements-must-be-met-to-run-a-business-like-paypal","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":["Developed Markets","United States"],"d":"2014-07-12","x":"Depends in which part of the world you would like this to happen. In the US for example you would need Money Transmitter…"},{"t":"Which U.S. banks are most popular with startup businesses, and why do founders choose them?","u":"which-us-banks-are-most-popular-with-startup-businesses-and-why-do-founders-choose-them","c":"Opening Bank Accounts, Personal and Business","s":["Business Bank Accounts"],"p":["United States"],"d":"2014-07-12","x":"Silicon Valley Bank, simply because they are from the Valley, they do business with 1000s of startups and understand the…"},{"t":"What denominations of banknotes and coins does the Chinese yuan come in?","u":"what-denominations-of-banknotes-and-coins-does-the-chinese-yuan-come-in","c":"General Finance Questions","s":["General Finance Questions"],"p":["China","Chinese Yuan Renminbi"],"d":"2014-07-12","x":"As of 2013, it includes banknotes for ¥1, ¥5, ¥10, ¥20, ¥50 and ¥100 Source: Renminbi"},{"t":"How can I grow my money starting with only $0.30 in my PayPal account?","u":"how-can-i-grow-my-money-starting-with-only-030-in-my-paypal-account","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy"],"p":[],"d":"2014-07-12","x":"Start with a Red Paper Clip... Then barter this for something of a higher value. Keep doing this, till such time you are…"},{"t":"In the U.S., how can a non-citizen and non-resident open a bank account online?","u":"in-the-us-how-can-a-non-citizen-and-non-resident-open-a-bank-account-online","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["Americas","Developed Markets"],"d":"2014-07-11","x":"If you\u0026#39;re not physically present in the US, you cannot. There are no two ways about it. If you are in the US, simply…"},{"t":"Is there a way to find out when and where money sent from a U.S. bank was credited to my bank account?","u":"is-there-a-way-to-find-out-when-and-where-money-sent-from-a-us-bank-was-credited-to-my-bank-account","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Wire Transfer Delays and Tracing"],"p":["United States"],"d":"2014-07-11","x":"If your US client sent you money, it is most likely they used Society for Worldwide Interbank Financial…"},{"t":"Does transferring money between accounts at different banks normally involve paying a fee?","u":"does-transferring-money-between-accounts-at-different-banks-normally-involve-paying-a-fee","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Payment Clearing"],"p":[],"d":"2014-07-11","x":"Yes, usually it does. Moving money costs money because of the interbank networks at play here. Each party has a cost…"},{"t":"Is it reasonable to call Bitcoin a currency when its value is so volatile, and how can anyone rely on its price?","u":"is-it-reasonable-to-call-bitcoin-a-currency-when-its-value-is-so-volatile-and-how-can-anyone-rely-on","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2014-07-11","x":"Think of it as the early days of Gold mining or the early time of the Big Bang. Things were very different and had…"},{"t":"What factors caused Bitcoin to reach around $900 per BTC on November 18, 2013?","u":"what-factors-caused-bitcoin-to-reach-around-900-per-btc-on-november-18-2013","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Speculation","Crypto Trading"],"p":["Bitcoin","United States Dollar"],"d":"2014-07-11","x":"Riley Patterson puts it well. Other than the Senate hearings which went mostly okay to positive, there was a statement…"},{"t":"Can government financial regulators like the SEC monitor and regulate wire transfers between bank accounts?","u":"can-government-financial-regulators-like-the-sec-monitor-and-regulate-wire-transfers-between-bank-ac","c":"AML Programs, KYC and Compliance Operations","s":["Transaction Monitoring","Financial Surveillance"],"p":[],"d":"2014-07-11","x":"Yes, FinCEN has just that responsibility along with BSA. They routinely set flag conditions and reporting criteria for…"},{"t":"Why is there a fixed maximum limit on the number of bitcoins that can ever be created?","u":"why-is-there-a-fixed-maximum-limit-on-the-number-of-bitcoins-that-can-ever-be-created","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2014-07-11","x":"Well they had to assign a number, and 21 Million was chosen. The reason behind has been hashed to death, limited supply,…"},{"t":"Banking: Is transferring funds through an ATM vulnerable to hacking or security weaknesses?","u":"banking-is-transferring-funds-through-an-atm-vulnerable-to-hacking-or-security-weaknesses","c":"Cybersecurity, Digital Identity and Authentication","s":["Cybersecurity","Data Security"],"p":[],"d":"2014-07-11","x":"No, its not. Couple of reasons: Its backed by 2FA (social engineering hacks are another thing), but overall security of…"},{"t":"ECB: Does paying via IBAN automatically mean the transfer is free of fees?","u":"ecb-does-paying-via-iban-automatically-mean-the-transfer-is-free-of-fees","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2014-07-10","x":"No. The payment is by no way or means free, just by adapting an IBAN Code. What the IBAN does it, it provides a…"},{"t":"PayPal vs. Google Wallet—who is likely to win?","u":"paypal-vs-google-walletwho-is-likely-to-win","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Mobile Payments"],"p":[],"d":"2014-07-10","x":"Paypal (for now). More widely adopted than Google Wallet."},{"t":"Dwolla: Does an online money transmitter need a separate money-transmitter license for each U.S. state in which it offers services?","u":"dwolla-does-an-online-money-transmitter-need-a-separate-money-transmitter-license-for-each-us-state","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","State-by-State MTL Requirements"],"p":["United States"],"d":"2014-07-10","x":"Yes, your State issued MSB license allows you to do transactions online for in-State customers only, across state lines,…"},{"t":"Why are U.S. banks slow to adopt features long used abroad, such as chip-and-PIN cards, pay-at-table systems, and easy free transfers between customers?","u":"why-are-us-banks-slow-to-adopt-features-long-used-abroad-such-as-chip-and-pin-cards-pay-at-table-sys","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Legacy Payment Systems"],"p":["Americas","Developed Markets"],"d":"2014-07-09","x":"User pretty much nails it with the three points mentioned. For starters, the US does not have a real-time switch that…"},{"t":"Pakistan has millions of mobile, internet, and Facebook users—what business ideas could monetize this market, and how should products be delivered and paid for?","u":"pakistan-has-millions-of-mobile-internet-and-facebook-userswhat-business-ideas-could-monetize-this-m","c":"Starting and Running a Fintech or Payments Business","s":["Payments Business Models","Distribution for Fintech"],"p":["Asia","Emerging Markets"],"d":"2014-07-08","x":"The biggest issue here is really not the apps and product deliver, etc. it is the cellular companies and the revenue…"},{"t":"Payments: Do most non-U.S. consumers have debit cards?","u":"payments-do-most-non-us-consumers-have-debit-cards","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards"],"p":[],"d":"2014-07-08","x":"Most people outside the US have debit cards. A debit card is now almost a standard issue with every bank account that is…"},{"t":"Who is developing the next generation of banking applications?","u":"who-is-developing-the-next-generation-of-banking-applications","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":["ASEAN","Asia"],"d":"2014-07-08","x":"Great question! Very difficult to pinpoint who the next innovators are in this field down to a few names. I can tell you…"},{"t":"Why do certificate-of-deposit (CD) interest rates vary so widely between banks?","u":"why-do-certificate-of-deposit-cd-interest-rates-vary-so-widely-between-banks","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Saving"],"p":["United States Dollar"],"d":"2014-07-07","x":"CD rates are a function of the bank\u0026#39;s treasury and investment arm. There are various factors and variables that…"},{"t":"What broader consequences stem from HSBC’s involvement in laundering money for Iran, drug networks, and other illicit groups?","u":"what-broader-consequences-stem-from-hsbcs-involvement-in-laundering-money-for-iran-drug-networks-and","c":"Money Laundering and Financial Crime","s":["Financial Crime","Money Laundering"],"p":["Iran"],"d":"2014-07-07","x":"The implications for the bank are quite serious in various parts of the world where it is regulated. It has the…"},{"t":"Why are U.S. banks so slow to roll out hardware security tokens (one-time code devices) for login authentication?","u":"why-are-us-banks-so-slow-to-roll-out-hardware-security-tokens-one-time-code-devices-for-login-authen","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Multi-Factor Authentication (MFA)"],"p":["Americas","Developed Markets"],"d":"2014-07-05","x":"Hardware security tokens are expensive. The US is not the only country that is slow in providing hardware based token…"},{"t":"Why hasn’t Africa adopted Bitcoin at scale for remittances and money transfers?","u":"why-hasnt-africa-adopted-bitcoin-at-scale-for-remittances-and-money-transfers","c":"Emerging Markets and Financial Inclusion","s":["Crypto Adoption in Emerging Markets","Financial Inclusion"],"p":["Africa","Bitcoin"],"d":"2014-07-05","x":"Africa\u0026#39;s adoption of Bitcoins is being fueled more by necessity than anything else. Bitcoins are considered the…"},{"t":"What should someone know in order to build an e-commerce payment system in a developing country?","u":"what-should-someone-know-in-order-to-build-an-e-commerce-payment-system-in-a-developing-country","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":[],"d":"2014-07-05","x":"Start with the Legal. Make it legal first and then work backwards towards the product (or service). If you are going to…"},{"t":"Online Payments: With digital wallets becoming more common, is there a future for an app that converts spare coins into bank deposits or merchant gift cards?","u":"online-payments-with-digital-wallets-becoming-more-common-is-there-a-future-for-an-app-that-converts","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Mobile Payments"],"p":[],"d":"2014-07-05","x":"Absolutely! Being able to have seamless deposites across the various wallets, and financial instruments (like…"},{"t":"In which countries does PayPal offer its full feature set rather than acting only as a simple payment gateway?","u":"in-which-countries-does-paypal-offer-its-full-feature-set-rather-than-acting-only-as-a-simple-paymen","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":["Canada","Restricted Jurisdictions"],"d":"2014-07-05","x":"US, Canada and UK are three countries where all of PayPal services are offered."},{"t":"Why are money transmitters in the U.S. often treated harshly or cautiously by financial institutions?","u":"why-are-money-transmitters-in-the-us-often-treated-harshly-or-cautiously-by-financial-institutions","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Bank Onboarding for Regulated Firms","Banking Access"],"p":["Americas","Developed Markets"],"d":"2014-07-04","x":"There are many factors that contribute towards this. Money Transmission itself is a complex business, that spreads its…"},{"t":"What would happen if everyone held personal accounts directly with the central bank?","u":"what-would-happen-if-everyone-held-personal-accounts-directly-with-the-central-bank","c":"Central Banks and Bank Supervision","s":["Banking Economics","Central Banks"],"p":[],"d":"2014-07-04","x":"Where you hold your bank account is really not the issue. If a central bank were to provide deposit and checking…"},{"t":"Since most money is digital, how do regulators verify that banks aren’t creating money improperly? Is there a central ledger of accounts?","u":"since-most-money-is-digital-how-do-regulators-verify-that-banks-arent-creating-money-improperly-is-t","c":"Central Banks and Bank Supervision","s":["Bank Supervision","Banking Economics"],"p":[],"d":"2014-07-04","x":"The Central Bank maintains accounts of money lent to each bank. Banks in turn report back on their deposit sheets to the…"},{"t":"In what ways could companies like Experian and Equifax be disrupted?","u":"in-what-ways-could-companies-like-experian-and-equifax-be-disrupted","c":"Lending, Credit Scores and BNPL","s":["Credit Bureaus","Credit Scoring"],"p":[],"d":"2014-07-03","x":"Answer assumes you have access to transactional and banking data (as a very basic). FICO score, like most things over…"},{"t":"For a non-U.S. resident with a U.S. LLC, is it better to open a business bank account in the U.S. or Europe?","u":"for-a-non-us-resident-with-a-us-llc-is-it-better-to-open-a-business-bank-account-in-the-us-or-europe","c":"Opening Bank Accounts, Personal and Business","s":["Business Bank Accounts","Bank Account Opening"],"p":["Americas","Developed Markets"],"d":"2014-07-02","x":"Yes, a personal visit is required. You will most likely never be declined. Opening a bank account for a Non-US Citizen…"},{"t":"Outside the U.S., what specific obstacles does Bitcoin face for hobbyists and small entrepreneurs wanting to enter the space?","u":"outside-the-us-what-specific-obstacles-does-bitcoin-face-for-hobbyists-and-small-entrepreneurs-wanti","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Fiat On-Ramps"],"p":["Bangladeshi Taka","Bitcoin"],"d":"2014-07-02","x":"Barring the legality of Bitcoin in various markets, which in itself can be a pretty large deterrent, there are a few…"},{"t":"What does it mean to endorse money on a passport?","u":"what-does-it-mean-to-endorse-money-on-a-passport","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Currency Controls"],"p":[],"d":"2014-07-01","x":"There are two known uses case I know of: Tying the serial numbers and value of traveller cheques to the passport (for…"},{"t":"Which U.S. banks, if any, accept or use digital currencies like Bitcoin?","u":"which-us-banks-if-any-accept-or-use-digital-currencies-like-bitcoin","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Banking","Crypto Payments"],"p":["Americas","Bitcoin"],"d":"2014-06-12","x":"Because of the absence of regulations and clarity on Bitcoins, no bank in the US as of 12th June 2014."},{"t":"Besides PayPal, are there mass-payment platforms that support automated payouts?","u":"besides-paypal-are-there-mass-payment-platforms-that-support-automated-payouts","c":"E-Commerce, Marketplace and Platform Payments","s":["Mass Payouts","Platform Payments"],"p":[],"d":"2014-06-12","x":"Skrill and Payoneer both offer the option of mass-payouts. You might want to look them over."},{"t":"What are the main challenges involved in transferring money across borders?","u":"what-are-the-main-challenges-involved-in-transferring-money-across-borders","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Starting a Remittance Business"],"p":["United Kingdom","Zimbabwe"],"d":"2014-06-12","x":"There are many reasons for this. If you are asking specifically with respect to a business (of international /…"},{"t":"Is there a payment gateway that works directly on platforms like Twitter and Facebook?","u":"is-there-a-payment-gateway-that-works-directly-on-platforms-like-twitter-and-facebook","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Payment APIs"],"p":[],"d":"2014-06-11","x":"You might want to check out Bancbox. They seem to have APIs and coding that will work with Facebook. See BancBox ."},{"t":"Is Payoneer’s U.S. payment service a good option?","u":"is-payoneers-us-payment-service-a-good-option","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Payoneer","Online Payment Platforms"],"p":["United States"],"d":"2014-06-11","x":"It is a decent service, but do note it is only for ACH, if the sending party does not have ACH then it won\u0026#39;t work. Also…"},{"t":"Are there Bitcoin startups specifically targeting cross-border remittance markets?","u":"are-there-bitcoin-startups-specifically-targeting-cross-border-remittance-markets","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Remittances","Crypto Payments"],"p":["Bitcoin"],"d":"2014-06-11","x":"Updated: Here is my curated list of Bitcoin Remittance (Rebittance) companies in the world that I am tracking:…"},{"t":"Will Bitcoin increase in value again?","u":"will-bitcoin-increase-in-value-again","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Speculation","Crypto Trading"],"p":["Bitcoin"],"d":"2014-06-11","x":"Weeks are too short of a window to speculate. But in the longer run, all Bitcoin pundits agree the value will go up…"},{"t":"What is the future of Bitcoin if governments begin declaring it illegal?","u":"what-is-the-future-of-bitcoin-if-governments-begin-declaring-it-illegal","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulatory Change"],"p":["Bitcoin"],"d":"2014-06-11","x":"In markets or countries where Bitcoin would be deemed illegal, it would be just that, illegal. Trading,…"},{"t":"What are the key requirements for building a micropayments system?","u":"what-are-the-key-requirements-for-building-a-micropayments-system","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","Ledger Design"],"p":[],"d":"2014-06-10","x":"It depends how micro we are talking. Lets say we are going to limit ourselves to the 2 decimal places of the currencies…"},{"t":"I have an idea for an ATM-card-sized hardware device paired with software—what companies can manufacture such a device for me?","u":"i-have-an-idea-for-an-atm-card-sized-hardware-device-paired-with-softwarewhat-companies-can-manufact","c":"Starting and Running a Fintech or Payments Business","s":["Vendor Selection","Solution Providers"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-06-10","x":"Taiwan \u0026amp; China! If you are not familiar with the companies who can OEM it for you, then your best bet is to contact the…"},{"t":"Why are international banks withdrawing from the Pakistani market?","u":"why-are-international-banks-withdrawing-from-the-pakistani-market","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Business Insights"],"p":["Pakistan","Pakistani Rupee"],"d":"2014-06-09","x":"HSBC is consolidating, worldwide, Pakistan is one of those countries that doesn\u0026#39;t generate much of an income for HSBC,…"},{"t":"Would operating a Bitcoin exchange in Pakistan be profitable?","u":"would-operating-a-bitcoin-exchange-in-pakistan-be-profitable","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Bitcoin","Emerging Market Licensing"],"d":"2014-06-09","x":"Most likely not. To be running any form of an exchange in Pakistan would require clearance from SECP, and SECP in turn…"},{"t":"Money Transfers: How can you determine whether two SWIFT banks have a direct wire-transfer relationship?","u":"money-transfers-how-can-you-determine-whether-two-swift-banks-have-a-direct-wire-transfer-relationsh","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Banking Relationships","Correspondent Tie-Ups"],"p":[],"d":"2014-06-09","x":"The SWIFT Code or BIC Number will tell you that, when you search for it."},{"t":"Why is there no seamless, unified money-transfer method between Canada and the U.S.?","u":"why-is-there-no-seamless-unified-money-transfer-method-between-canada-and-the-us","c":"Payment Corridors and Remittance Economics","s":["Payment Corridors","Remittance Economics"],"p":["Americas","Canada"],"d":"2014-06-08","x":"(a) European Banking is inherently a little different from US and/or Canadian banking when it comes to retail banking.…"},{"t":"What is the most efficient method for sending money to clients directly from your website?","u":"what-is-the-most-efficient-method-for-sending-money-to-clients-directly-from-your-website","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Account-to-Account Payments"],"p":[],"d":"2014-06-08","x":"If you have the money aggregated in some form of a bank account, ACH (ACH) would be the most cheapest and reliable…"},{"t":"How can I find a payment-gateway consultant in India?","u":"how-can-i-find-a-payment-gateway-consultant-in-india","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-06-08","x":"LinkedIn is a really good resource to source a consultant. Alternatively, you can ask your Bank or the representatives…"},{"t":"What is the next major breakthrough likely to happen in payments as the industry moves toward frictionless transactions?","u":"what-is-the-next-major-breakthrough-likely-to-happen-in-payments-as-the-industry-moves-toward-fricti","c":"Payments (General)","s":["Payment System Modernization","Payment Methods"],"p":[],"d":"2014-06-07","x":"Ubiquitous payments worldwide, be it P2P or B2C, or combination thereof. Ubiquity riding on top of the agnostic layer…"},{"t":"What can an average person do to help counter money laundering?","u":"what-can-an-average-person-do-to-help-counter-money-laundering","c":"Money Laundering and Financial Crime","s":["Financial Crime","Money Laundering"],"p":[],"d":"2014-06-07","x":"As an individual, and specifically speaking from a money-transfer (remittance) point of view, the answer is simple:…"},{"t":"What security considerations should be included on your checklist before launching an Internet Payment Service Provider (IPSP)?","u":"what-security-considerations-should-be-included-on-your-checklist-before-launching-an-internet-payme","c":"Cybersecurity, Digital Identity and Authentication","s":["Cybersecurity"],"p":[],"d":"2014-06-06","x":"Honestly, if you have the HR skills set, Time, Patience and Money to go through it all and get certified. Becoming a…"},{"t":"How do casinos stop individuals from counterfeiting gaming chips?","u":"how-do-casinos-stop-individuals-from-counterfeiting-gaming-chips","c":"High-Risk Industries","s":["Gambling Payments","High-Risk Verticals"],"p":[],"d":"2014-06-06","x":"Here is a great answer for your question: To begin with, the manufacture of genuine casino chips (known in the trade as…"},{"t":"What common challenges do small businesses face?","u":"what-common-challenges-do-small-businesses-face","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Insights","Business Failures"],"p":[],"d":"2014-06-06","x":"What common challenges do small businesses face?"},{"t":"As an eBusiness leader, what qualities do you expect from a Chinese payment service provider?","u":"as-an-ebusiness-leader-what-qualities-do-you-expect-from-a-chinese-payment-service-provider","c":"Merchant Accounts, Processors and Gateways","s":["Payment Service Providers (PSP)","Payment Processors"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-06-06","x":"Multi-lingual implementation and documentation."},{"t":"Online Retail: How should a new website with no brand recognition address customer security concerns?","u":"online-retail-how-should-a-new-website-with-no-brand-recognition-address-customer-security-concerns","c":"Cybersecurity, Digital Identity and Authentication","s":["Cybersecurity","Data Security"],"p":[],"d":"2014-06-06","x":"In addition to what has been cited above, which are great (and important) factors, I cannot stress enough the fact that…"},{"t":"When do daily ATM withdrawal limits reset?","u":"when-do-daily-atm-withdrawal-limits-reset","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards"],"p":[],"d":"2014-06-06","x":"Not necessarily. WIth the new core banking switches, it will be a 24-hour window for your account. Meaning if you…"},{"t":"Can funds be deposited onto a debit card via an ATM?","u":"can-funds-be-deposited-onto-a-debit-card-via-an-atm","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards"],"p":[],"d":"2014-06-06","x":"Yes, but very few banks actually offer this service. A few examples that I know of are as follows: Use any ATM card to…"},{"t":"What are the best resources for learning banking terminology, processes, and business rules, especially in corporate banking?","u":"what-are-the-best-resources-for-learning-banking-terminology-processes-and-business-rules-especially","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Learning Resources","Training"],"p":[],"d":"2014-06-06","x":"There is no easy answer for this. Depending on where in the world you are, the answer will vary. Some important pointers…"},{"t":"In remittances, what does a “free send” pricing model actually mean?","u":"in-remittances-what-does-a-free-send-pricing-model-actually-mean","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","MTO Economics"],"p":["Asia","Pakistan"],"d":"2014-06-06","x":"The Free Send Model in Remittances (Money Transfer) has two implications: For much of the general world this means, the…"},{"t":"Is Bitcoin a perfect solution for international airtime top-ups and transfers?","u":"is-bitcoin-a-perfect-solution-for-international-airtime-top-ups-and-transfers","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Remittances"],"p":["Bitcoin"],"d":"2014-06-06","x":"It can very well be. If there is a mechanism for the MNOs (Mobile Network Operators) to exchange those Bitcoins into…"},{"t":"How can I earn money independently on my own?","u":"how-can-i-earn-money-independently-on-my-own","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Income Streams","Side Hustles"],"p":[],"d":"2014-06-06","x":"Be good in something that others would be willing to pay for. What that something is - is a quest that have made many…"},{"t":"Why do stores accept only certain credit cards?","u":"why-do-stores-accept-only-certain-credit-cards","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":["Asia-Pacific (APAC)","Bangladesh"],"d":"2014-06-06","x":"Speaking from merchant experiences outside the US, the answer is simple. In many countries, certain card associations…"},{"t":"Online Payments: What alternatives exist to credit cards and PayPal in developing countries?","u":"online-payments-what-alternatives-exist-to-credit-cards-and-paypal-in-developing-countries","c":"Emerging Markets and Financial Inclusion","s":["Emerging Market Economies","Financial Inclusion"],"p":[],"d":"2014-06-06","x":"In the developing world, the alternates to CC/PayPal is undoubtedly Cash on Delivery. COD is king! In addition to COD,…"},{"t":"Why has the U.S. government been able to levy multi-billion-dollar fines on foreign banks, while other countries have struggled to impose similar fines on U.S. banks for misconduct?","u":"why-has-the-us-government-been-able-to-levy-multi-billion-dollar-fines-on-foreign-banks-while-other","c":"Regulators, Enforcement and Regulatory Change","s":["Regulatory Enforcement","Regulatory Fines"],"p":["New York","Norway"],"d":"2014-06-05","x":"The money that was earned was not by the US Government per se, but by the State Regulator, in particular, the Department…"},{"t":"Does a national central bank effectively hold all of a country’s currency worldwide?","u":"does-a-national-central-bank-effectively-hold-all-of-a-countrys-currency-worldwide","c":"Central Banks and Bank Supervision","s":["Central Banks","Banking Economics"],"p":[],"d":"2014-06-05","x":"To answer your question, not sure if you are referring to National Bank as the equivalent of a Central Bank. The…"},{"t":"How do countries intentionally reduce the value of their currency?","u":"how-do-countries-intentionally-reduce-the-value-of-their-currency","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Currency Devaluation"],"p":[],"d":"2014-06-05","x":"They do this to essentially reduce their Current Account Deficit. In simple English, when a country\u0026#39;s import bill is…"},{"t":"How do countries intentionally devalue their currency?","u":"how-do-countries-intentionally-devalue-their-currency","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Currency Devaluation"],"p":[],"d":"2014-06-05","x":"They do this to essentially reduce their Current Account Deficit. In simple English, when a country\u0026#39;s import bill is…"},{"t":"What do VCs and other investors think about a “WhatsApp for peer-to-peer payments” startup concept?","u":"what-do-vcs-and-other-investors-think-about-a-whatsapp-for-peer-to-peer-payments-startup-concept","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Venture Capital"],"p":[],"d":"2014-06-04","x":"VCs are already cognizant that WhatsApp to be merged with Facebook Messenger (at some point in time) would be used for…"},{"t":"How do U.S. tax rates compare with tax rates in other countries?","u":"how-do-us-tax-rates-compare-with-tax-rates-in-other-countries","c":"Tax and Financial Reporting","s":["Tax","International Tax"],"p":["United States"],"d":"2014-06-04","x":"You can review the following list on Wikipedia for comparison of Tax Rates across the world (including the US): List of…"},{"t":"Does Mint.com support Bank of America accounts, and why or why not?","u":"does-mintcom-support-bank-of-america-accounts-and-why-or-why-not","c":"Open Banking and Account Aggregation","s":["Account Aggregation","Data Aggregators"],"p":["Americas","Developed Markets"],"d":"2014-06-04","x":"Yes, Mint.com works with Bank of America (US). Why? Because it is a fairly large financial institution and its exclusion…"},{"t":"What is an SBN number for a business account, why is it requested to receive funds from Canada to the UAE, and is there another way to receive the money?","u":"what-is-an-sbn-number-for-a-business-account-why-is-it-requested-to-receive-funds-from-canada-to-the","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Inward Remittances"],"p":["Canada","MENA (Middle East and North Africa)"],"d":"2014-06-03","x":"It seems the money you are receiving in UAE from Canada is originating from a Company. In doing so, your bank has…"},{"t":"Do cross-border bitcoin transfers fall under money-transfer regulations?","u":"do-cross-border-bitcoin-transfers-fall-under-money-transfer-regulations","c":"Crypto and VASP Licensing","s":["Crypto Regulation","Crypto AML"],"p":["Bitcoin"],"d":"2014-06-03","x":"The short version: Yes. The long version: Yes, but.... It depends where in the world you are, and how Bitcoin is defined…"},{"t":"How does the government determine which bank I use?","u":"how-does-the-government-determine-which-bank-i-use","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2014-06-03","x":"They know where you bank most likely via a common denominator that exists in all your banks, which is most likely your…"},{"t":"How can an external party confirm or authenticate a Square transaction?","u":"how-can-an-external-party-confirm-or-authenticate-a-square-transaction","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Payment Integration"],"p":[],"d":"2014-06-03","x":"Most likely you would need to have some sort of an API access to Square\u0026#39;s system to be able to generate transaction logs…"},{"t":"What would it cost Square to swap out unencrypted readers for encrypted versions?","u":"what-would-it-cost-square-to-swap-out-unencrypted-readers-for-encrypted-versions","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":["China","Taiwan"],"d":"2014-06-03","x":"Considering they will be ordering in the millions, they would be able to negotiate a very good deal. Generally (for high…"},{"t":"How can a third party independently verify a Square transaction?","u":"how-can-a-third-party-independently-verify-a-square-transaction","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Payment Integration"],"p":[],"d":"2014-06-03","x":"Most likely you would need to have some sort of an API access to Square\u0026#39;s system to be able to generate transaction logs…"},{"t":"What functions are provided by a cash deposit machine?","u":"what-functions-are-provided-by-a-cash-deposit-machine","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2014-06-02","x":"In addition to the cash deposits for your account, it can also provide the following services (depending on the OEM):…"},{"t":"How does a savings account differ from a checking account?","u":"how-does-a-savings-account-differ-from-a-checking-account","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Saving"],"p":[],"d":"2014-06-02","x":"Current accounts are non-interest based accounts. Savings accounts are interest based accounts."},{"t":"How can I verify a company's legitimacy online?","u":"how-can-i-verify-a-companys-legitimacy-online","c":"Fraud and Scams","s":["Scam Awareness","Fraud Prevention"],"p":[],"d":"2014-06-02","x":"You are absolutely correct in assuming you can never tell about a company. So siding with caution is always the best…"},{"t":"Do MagTek and IDTech provide white-label hardware readers?","u":"do-magtek-and-idtech-provide-white-label-hardware-readers","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2014-06-02","x":"A white-labeled reader would imply that both Magtek and IDTech would be in the business of payment processing (via…"},{"t":"What alternatives exist to traditional wire transfers for sending money?","u":"what-alternatives-exist-to-traditional-wire-transfers-for-sending-money","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Outward Remittances"],"p":[],"d":"2014-06-02","x":"Some options: Cash Carry Hawala Hundi Fei Qian (Chinese Flying Money) Cash Transfers onto a Prepaid Instrument (like a…"},{"t":"Could a compliant cross-border bill payment service (for example, from the U.S. to Mexico or Indonesia) operate without remittance licenses?","u":"could-a-compliant-cross-border-bill-payment-service-for-example-from-the-us-to-mexico-or-indonesia-o","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":["Americas","Indonesia"],"d":"2014-06-02","x":"If you\u0026#39;re paying local bills in the beneficiary country from the US, this is not possible without registering with…"},{"t":"Where is the U.S. fintech and payments ecosystem most active: New York, San Francisco, or Atlanta?","u":"where-is-the-us-fintech-and-payments-ecosystem-most-active-new-york-san-francisco-or-atlanta","c":"Payments (General)","s":["Payment Industry Overview","Payment Products"],"p":["California","Georgia"],"d":"2014-06-02","x":"Atlanta, GA for sure. The Mecca for FinTech."},{"t":"What is currently happening with Ripple as a company and protocol?","u":"what-is-currently-happening-with-ripple-as-a-company-and-protocol","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Distributed Ledgers"],"p":[],"d":"2014-06-02","x":"2013 was the year where most people who know Ripple cited it had lost its bearing and its identity. Starting in 2014,…"},{"t":"What should I do in a real-time emergency if internet is my only means of communication?","u":"what-should-i-do-in-a-real-time-emergency-if-internet-is-my-only-means-of-communication","c":"General Finance Questions","s":["General","Uncategorised"],"p":[],"d":"2014-06-01","x":"Some suggestions: Twitter is an excellent place to yelp for help. If any of your friends are on IM - tell them. Though…"},{"t":"How are very large sums of money transferred between parties or institutions?","u":"how-are-very-large-sums-of-money-transferred-between-parties-or-institutions","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Real-Time Gross Settlement (RTGS)"],"p":[],"d":"2014-06-01","x":"For very large sums, it is usually RTGS (Real-Time Gross Settlement) System, one that would be operated and administered…"},{"t":"If I want to send a wire transfer to Thailand, are there limits on how much I can send?","u":"if-i-want-to-send-a-wire-transfer-to-thailand-are-there-limits-on-how-much-i-can-send","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-06-01","x":"Essentially, no limits. However there are certain cases where limits are defined. The best source is the Thailand\u0026#39;s…"},{"t":"Which U.S. banks provide cross-border remittance services?","u":"which-us-banks-provide-cross-border-remittance-services","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2014-06-01","x":"Remittance is the money sent by the Diaspora or working migrants back to their native country. So if you are asking…"},{"t":"What is the process for obtaining newly issued coins from the RBI?","u":"what-is-the-process-for-obtaining-newly-issued-coins-from-the-rbi","c":"How Banks Work","s":["Retail Banking","Banks"],"p":["India","Reserve Bank of India"],"d":"2014-05-12","x":"Currency notes and coins as released by the central bank, i.e. RBI, are sent to banks, and not to consumers directly.…"},{"t":"What are bank drafts or bank draft checks typically used for?","u":"what-are-bank-drafts-or-bank-draft-checks-typically-used-for","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":[],"d":"2014-05-12","x":"They are non-bearer payment instruments. Think of them as checks written out to someone that will not bounce. The funds…"},{"t":"What type of U.S. or foreign banking setup is suitable for clearing thousands of instant, fully settled transactions between institutions and customers?","u":"what-type-of-us-or-foreign-banking-setup-is-suitable-for-clearing-thousands-of-instant-fully-settled","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":["United States"],"d":"2014-05-12","x":"Your answer depends on if the payments are US concentric only or International or a combination of both? US Concentric…"},{"t":"In financial technology, how does one bank request funds from another bank?","u":"in-financial-technology-how-does-one-bank-request-funds-from-another-bank","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":[],"d":"2014-05-12","x":"If you are asking how does the transfer process work, it is pretty simple. Within the same Bank account, it is merely an…"},{"t":"Why haven’t electronic payment systems completely replaced paper cash and coins?","u":"why-havent-electronic-payment-systems-completely-replaced-paper-cash-and-coins","c":"Payments (General)","s":["Payment Methods","Cash"],"p":[],"d":"2014-05-12","x":"In addition to some great answers given, you might also wan to consider the following: Grey (or Parallel) Economies,…"},{"t":"Why have online micropayments failed to become widespread?","u":"why-have-online-micropayments-failed-to-become-widespread","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":["Bitcoin","United States Dollar"],"d":"2014-05-11","x":"Lots of reasons for this. What is a micropayment? That definition in itself differs from region to region. With the…"},{"t":"How can my company start issuing virtual prepaid debit cards?","u":"how-can-my-company-start-issuing-virtual-prepaid-debit-cards","c":"Card Networks and Card Issuing","s":["Virtual Cards","Card Issuing"],"p":[],"d":"2014-05-10","x":"Your best bet is to talk to an issuer that can offer VCT issuance, that is white-labeled for you, for the number of…"},{"t":"How can I receive payments from a U.S. organization if I only have a Bank Alfalah account in Pakistan?","u":"how-can-i-receive-payments-from-a-us-organization-if-i-only-have-a-bank-alfalah-account-in-pakistan","c":"Sending and Receiving Money Abroad","s":["Receiving Money from Abroad (Consumer)","Money Transfer"],"p":["Asia","Indian Subcontinent"],"d":"2014-05-10","x":"Based on the above options, you cannot. If they will do an international wire transfer then you can accept otherwise…"},{"t":"In 2014, what was the biggest unsolved challenge facing the banking industry?","u":"in-2014-what-was-the-biggest-unsolved-challenge-facing-the-banking-industry","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2014-05-09","x":"There are many problems in the banking world that are still not solved on a globally accepted level. Individually (in…"},{"t":"How do banks determine the locations for installing ATMs?","u":"how-do-banks-determine-the-locations-for-installing-atms","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2014-05-08","x":"Banks predominantly start with locating ATM in their branches. That establishes the primary ATM (Core) network. Off-site…"},{"t":"What is a good investment strategy for a 22-year-old in India?","u":"what-is-a-good-investment-strategy-for-a-22-year-old-in-india","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Personal Investing","Financial Literacy"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-05-08","x":"Buy property. Its perhaps the best long term investment you can ever make. Especially in India."},{"t":"What is the best approach to adding Bitcoin as a payment method for recurring subscriptions on my website?","u":"what-is-the-best-approach-to-adding-bitcoin-as-a-payment-method-for-recurring-subscriptions-on-my-we","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin","Nordics"],"d":"2014-05-08","x":"You may want to check out the Scandinavian provider BIPS.me"},{"t":"Online Payments: What challenges would a Square-like startup face in Asia?","u":"online-payments-what-challenges-would-a-square-like-startup-face-in-asia","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-05-08","x":"The answer to this question can vary region-by-region and regulator-by-regulator. To summarise the challenges are not…"},{"t":"What systems do companies use to automatically deduct monthly loan payments from customer bank accounts?","u":"what-systems-do-companies-use-to-automatically-deduct-monthly-loan-payments-from-customer-bank-accou","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2014-05-07","x":"Assuming you have the authorisation to do so, this would be as simple as generating a periodic ACH file and sending the…"},{"t":"Online Payments: What banking solutions support peer-to-peer and peer-to-business lending startups?","u":"online-payments-what-banking-solutions-support-peer-to-peer-and-peer-to-business-lending-startups","c":"Alternative Finance and Crowdfunding","s":["Peer-to-Peer Lending Platforms","Alternative Finance Models"],"p":[],"d":"2014-05-07","x":"Not a startup, but check out FIS GLobal (especially the portfolio they acquired after the acquisition of mFoundary). See…"},{"t":"Are you looking to resell a payment gateway?","u":"are-you-looking-to-resell-a-payment-gateway","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2014-05-07","x":"100s of resellers are already doing that, with and without merchant account processing. The answer in short for many is…"},{"t":"Online Payment Processing: Does PayPal rely on the SWIFT network to communicate with acquiring banks, or does it use another method?","u":"online-payment-processing-does-paypal-rely-on-the-swift-network-to-communicate-with-acquiring-banks","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":["United States"],"d":"2014-05-06","x":"Not specifically answering for PayPal, but in general (for the US), most payment gateways will use an ACH and deposit…"},{"t":"What upcoming innovations can we expect in ATM technology?","u":"what-upcoming-innovations-can-we-expect-in-atm-technology","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2014-05-06","x":"Pay-in/Pay-out locations: Being able to top up, pay bills, print QR or Bar Coded receipts / tickets, be able to get…"},{"t":"Where can I complete online tasks in exchange for money?","u":"where-can-i-complete-online-tasks-in-exchange-for-money","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Earning Money Online","Income Streams"],"p":[],"d":"2014-05-06","x":"Where can I complete online tasks in exchange for money?"},{"t":"How does data actually move behind the scenes when transferring funds within the same bank or to another bank?","u":"how-does-data-actually-move-behind-the-scenes-when-transferring-funds-within-the-same-bank-or-to-ano","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Payment Infrastructure"],"p":[],"d":"2014-05-06","x":"Within the same bank it is just a journal entry into the database, crediting one account, whilst debit the other.…"},{"t":"Can payment-card issuers decline a transaction when the merchant does not provide billing-address information?","u":"can-payment-card-issuers-decline-a-transaction-when-the-merchant-does-not-provide-billing-address-in","c":"Card Networks and Card Issuing","s":["Card Authorization","Card Issuing"],"p":["Kenya","Vietnam"],"d":"2014-05-06","x":"Difficult to answer with a simple yes or no. It depends. To accept a CNP transaction, the merchant needs the card…"},{"t":"Online Payments: What are some alternatives to Payoneer?","u":"online-payments-what-are-some-alternatives-to-payoneer","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Getting Paid from Abroad"],"p":[],"d":"2014-05-06","x":"Send money, Receive Payment, Money Transfer (Payza)"},{"t":"What electronic payment options are available for businesses in Canada?","u":"what-electronic-payment-options-are-available-for-businesses-in-canada","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Local Payment Methods","Domestic Payment Schemes"],"p":["Americas","Canada"],"d":"2014-05-06","x":"Have you tried Interac? That\u0026#39;s preferred by a lot of businesses to get payments (look up Home | INTERAC® Online,…"},{"t":"Which countries accept M-PESA or similar mobile money systems?","u":"which-countries-accept-m-pesa-or-similar-mobile-money-systems","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Money","Mobile Payments"],"p":["Pakistan"],"d":"2014-05-05","x":"Pakistan has EasyPaisa (which is run / owned by Telenor Pakistan . See more at: http://www.easypaisa.com.pk/ . The…"},{"t":"As a merchant, are there extra fees—beyond standard merchant service fees—when accepting internationally-issued credit or debit cards at POS? And what about online transactions?","u":"as-a-merchant-are-there-extra-feesbeyond-standard-merchant-service-feeswhen-accepting-internationall","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Card Processing Pricing"],"p":[],"d":"2014-05-05","x":"There are no additional fees. If any additional fees are levied, the Debit Card holder would most likely be paying for…"},{"t":"How much capital is required to start a bank?","u":"how-much-capital-is-required-to-start-a-bank","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance","Buying a Licensed Entity"],"p":[],"d":"2014-05-05","x":"It all depends, how big or small the Community Bank you are trying to start is - you could literally go out and buy one…"},{"t":"What does Islamic banking involve, and what ethical, legal, or religious considerations are associated with it?","u":"what-does-islamic-banking-involve-and-what-ethical-legal-or-religious-considerations-are-associated","c":"Islamic, Jewish and Faith-Based Finance","s":["Islamic Finance","Sharia Compliance"],"p":[],"d":"2014-05-05","x":"Mark Harrison provides a very detailed answer, but one very important aspect to highlight in the Islamic Banking is the…"},{"t":"In which countries is M-PESA (or similar systems) accepted?","u":"in-which-countries-is-m-pesa-or-similar-systems-accepted","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Money","Mobile Payments"],"p":["Pakistan"],"d":"2014-05-05","x":"Pakistan has EasyPaisa (which is run / owned by Telenor Pakistan . See more at: http://www.easypaisa.com.pk/ . The…"},{"t":"As a merchant, do I pay extra fees (beyond standard merchant fees) when accepting international scheme cards at POS or online?","u":"as-a-merchant-do-i-pay-extra-fees-beyond-standard-merchant-fees-when-accepting-international-scheme","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Card Processing Pricing"],"p":[],"d":"2014-05-05","x":"There are no additional fees. If any additional fees are levied, the Debit Card holder would most likely be paying for…"},{"t":"How much capital is typically needed to start a bank?","u":"how-much-capital-is-typically-needed-to-start-a-bank","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance","Buying a Licensed Entity"],"p":[],"d":"2014-05-05","x":"It all depends, how big or small the Community Bank you are trying to start is - you could literally go out and buy one…"},{"t":"What is Islamic banking, and what ethical, legal, and religious principles shape it?","u":"what-is-islamic-banking-and-what-ethical-legal-and-religious-principles-shape-it","c":"Islamic, Jewish and Faith-Based Finance","s":["Islamic Finance","Sharia Compliance"],"p":[],"d":"2014-05-05","x":"Mark Harrison provides a very detailed answer, but one very important aspect to highlight in the Islamic Banking is the…"},{"t":"As of May 2014, how many people owned at least some Bitcoin?","u":"as-of-may-2014-how-many-people-owned-at-least-some-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2014-05-04","x":"A lot many people do. However, I came across this recently, it offers some insight (albeit without numbers)"},{"t":"Does Ripple have the ability to cut off a merchant it disapproves of?","u":"does-ripple-have-the-ability-to-cut-off-a-merchant-it-disapproves-of","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Distributed Ledgers"],"p":[],"d":"2014-05-04","x":"My understanding from Ripple is that they don\u0026#39;t have control over this. Since it is a distributed system, anyone can…"},{"t":"Which Pakistani tech companies are building their own products rather than only doing services?","u":"which-pakistani-tech-companies-are-building-their-own-products-rather-than-only-doing-services","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-05-04","x":"Couple of noteworthy names: https://jumpshare.com/ XGear - Drive Smart TPS - They make financial switch software. Avanza…"},{"t":"Can Dwolla send payouts to bank accounts located outside the United States?","u":"can-dwolla-send-payouts-to-bank-accounts-located-outside-the-united-states","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Bank Deposit Payouts"],"p":["Restricted Jurisdictions"],"d":"2014-05-04","x":"At the time of this answer, Dwolla does not support international payments and/or wire transfers overseas."},{"t":"Are there alternatives to SWIFT for international bank transfers, especially for sanctioned countries?","u":"are-there-alternatives-to-swift-for-international-bank-transfers-especially-for-sanctioned-countries","c":"Sanctions, Embargoes and Screening","s":["Sanctioned Countries","Sanctions"],"p":["Iran","MENA (Middle East and North Africa)"],"d":"2014-05-02","x":"Interesting question and let me answer it in three parts: 1. Regularly licensed banks, with relationships with the…"},{"t":"What occurs when a card placed on authorization hold gets cancelled?","u":"what-occurs-when-a-card-placed-on-authorization-hold-gets-cancelled","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2014-05-01","x":"No remedy, strictly speaking from a charge point of view. If the card is cancelled, the card is cancelled. You simply…"},{"t":"Where can I find data on how widely local payment methods are used in ecommerce?","u":"where-can-i-find-data-on-how-widely-local-payment-methods-are-used-in-ecommerce","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Alternative Payment Methods"],"p":[],"d":"2014-05-01","x":"Try searching up the website of the Central Bank in the country for which you are seeking data. Chances are that many…"},{"t":"How worried are Venmo’s investors about the company not being licensed as a money transmitter in every U.S. state?","u":"how-worried-are-venmos-investors-about-the-company-not-being-licensed-as-a-money-transmitter-in-ever","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["Americas","North America"],"d":"2014-04-12","x":"Not concerned at all (now), since Braintree acquired Venmo and now that Braintree itself was acquired by PayPal (eBay),…"},{"t":"What happens to a Western Union transfer if I lose my identification before picking it up?","u":"what-happens-to-a-western-union-transfer-if-i-lose-my-identification-before-picking-it-up","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Receiving Money from Abroad (Consumer)"],"p":[],"d":"2014-04-12","x":"Not too sure what ID you are referring to: If you lose your MTCN (Money Transfer Control Number) as issued by Western…"},{"t":"Can multiple cryptocurrencies achieve broad adoption at the same time?","u":"can-multiple-cryptocurrencies-achieve-broad-adoption-at-the-same-time","c":"Bitcoin and Cryptocurrency Basics","s":["Cryptocurrency Basics"],"p":[],"d":"2014-04-12","x":"Yes. We have multiples of very many things. If you have just a singular cryptocurrency, you will soon enough have a…"},{"t":"Is there a dependable method for identifying fees within a bank statement?","u":"is-there-a-dependable-method-for-identifying-fees-within-a-bank-statement","c":"How Banks Work","s":["Banks","Bank Statements"],"p":["Asia","Europe"],"d":"2014-04-11","x":"Not sure if the Federal Reserve mandates banks to publish a Schedule of Charges, outside the US, in UK, EU, Asia, etc.…"},{"t":"What steps are involved in opening a Swiss bank account?","u":"what-steps-are-involved-in-opening-a-swiss-bank-account","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Swiss Banking"],"p":["Euro","Europe (Non-EU)"],"d":"2014-04-11","x":"If you\u0026#39;re a foreigner, you need a passport and would need to visit the bank. If you have previous or existing banking…"},{"t":"Is there anything you can do early on to avoid PayPal freezing or limiting your account without cause?","u":"is-there-anything-you-can-do-early-on-to-avoid-paypal-freezing-or-limiting-your-account-without-caus","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets"],"p":["United States Dollar"],"d":"2014-04-11","x":"Paypal account are blocked for a reason. Always a reason. You might not agree with the reasoning, but its there. Paypal…"},{"t":"When you reach a checkout page, what factors influence your decision to complete the purchase?","u":"when-you-reach-a-checkout-page-what-factors-influence-your-decision-to-complete-the-purchase","c":"E-Commerce, Marketplace and Platform Payments","s":["Online Checkout","Checkout Conversion"],"p":[],"d":"2014-04-11","x":"Personally for me, when I have decided I need to make a payment, I will. The following would deter me from making the…"},{"t":"Why hasn’t Shopify added Bitcoin as a supported payment method?","u":"why-hasnt-shopify-added-bitcoin-as-a-supported-payment-method","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2014-04-11","x":"Update: Shopify now accepts Bitcoins. I think one reason why Shopify doesn\u0026#39;t include Bitcoins as one of their payment…"},{"t":"In what types of locations would people most like to see Bitcoin ATMs installed?","u":"in-what-types-of-locations-would-people-most-like-to-see-bitcoin-atms-installed","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Bitcoin ATMs (BTM)","Crypto ATMs"],"p":["Bitcoin"],"d":"2014-04-11","x":"Would love to see the Bitcoin ATM, where my bank ATM is. It just makes the whole accessibility issue easier. Coffee…"},{"t":"What are the main issues and current trends in international payment systems?","u":"what-are-the-main-issues-and-current-trends-in-international-payment-systems","c":"Payments (General)","s":["Payment System Modernization","Payment Methods"],"p":[],"d":"2014-04-11","x":"Thought there are so many issues, a couple of points that are noteworthy in international payments are as follows: Small…"},{"t":"What do you think the future of payments will look like—will it run on the Ripple protocol or on upgraded versions of existing systems from the 1970s?","u":"what-do-you-think-the-future-of-payments-will-look-likewill-it-run-on-the-ripple-protocol-or-on-upgr","c":"Blockchain and Distributed Ledger Technology","s":["Distributed Ledgers","Blockchain Technology"],"p":["Bitcoin"],"d":"2014-04-11","x":"Payments will be just that payment. Be it Dollars or Bitcoins or some other form of futuristic credit. The rails on…"},{"t":"If we build a P2P money-transfer app and operate as an agent under a licensed provider like PreCash, what is a rough cost estimate?","u":"if-we-build-a-p2p-money-transfer-app-and-operate-as-an-agent-under-a-licensed-provider-like-precash","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensing Costs","License Sponsorship"],"p":[],"d":"2014-04-11","x":"It can vary, but more or less, US$ 250,000 for the 1st year as the setup fees (this might be broken down in chunks over…"},{"t":"Demographics: What is the typical average income in developed nations?","u":"demographics-what-is-the-typical-average-income-in-developed-nations","c":"General Finance Questions","s":["General"],"p":["Developed Markets"],"d":"2014-04-10","x":"You might want to refer to ILO (International Labor Organization) . They publish a global wage report (here is one…"},{"t":"What factors result in better conversion rates during online credit card processing?","u":"what-factors-result-in-better-conversion-rates-during-online-credit-card-processing","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Payment User Experience"],"p":[],"d":"2014-04-10","x":"Short Answer: I don\u0026#39;t believe it affects the conversion rate. Conversion rates could fall - this probably could be true…"},{"t":"Why don’t U.S. banks offer remittance services similar to Xoom’s?","u":"why-dont-us-banks-offer-remittance-services-similar-to-xooms","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":["United States"],"d":"2014-04-10","x":"There are many reasons for this. Unfortunately, one of the primary reasons is FUD (Fear, Uncertainty and Doubt). Most…"},{"t":"How does an international remittance transfer actually work step by step, and who are the parties involved?","u":"how-does-an-international-remittance-transfer-actually-work-step-by-step-and-who-are-the-parties-inv","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2014-04-10","x":"Here is a detailed explanation of the steps that outline both the regular remittance model and the pre-pay remittance…"},{"t":"Are there U.S. banks that offer deposit accounts in foreign currencies such as EUR or GBP?","u":"are-there-us-banks-that-offer-deposit-accounts-in-foreign-currencies-such-as-eur-or-gbp","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Account Structures"],"p":["British Pound Sterling","Euro"],"d":"2014-04-10","x":"Plenty of banks in NY will allow you to open a multiple currency account, Deutsche Bank, HSBC, Standard Chartered,…"},{"t":"Why are U.S. coins printed with the obverse facing upside-down relative to the reverse?","u":"why-are-us-coins-printed-with-the-obverse-facing-upside-down-relative-to-the-reverse","c":"History of Money, Banking and Finance","s":["History of Money"],"p":["United States","United States Dollar"],"d":"2014-04-10","x":"No one knows! The US Mint just goes with the flow...(this process is by the way called Coinage Orientation) Why is the…"},{"t":"Once I share my checking account and routing numbers for ACH, what stops someone from pulling funds without my consent?","u":"once-i-share-my-checking-account-and-routing-numbers-for-ach-what-stops-someone-from-pulling-funds-w","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2014-04-09","x":"The system is prone to abuse, however, to \u0026#34;PULL\u0026#34; money from someone\u0026#39;s bank account, the ACH processor needs to have…"},{"t":"What does a fraud investigation or fraud management officer actually do?","u":"what-does-a-fraud-investigation-or-fraud-management-officer-actually-do","c":"Careers, Jobs and Working in Finance","s":["Jobs","Careers in Compliance"],"p":[],"d":"2014-04-09","x":"Typically a Fraud Investigation Officer will try to investigate if a possible fraud of the monetary / banking / payment…"},{"t":"How does Western Union determine the purpose of transferred funds?","u":"how-does-western-union-determine-the-purpose-of-transferred-funds","c":"AML Programs, KYC and Compliance Operations","s":["Transaction Monitoring","Financial Surveillance"],"p":[],"d":"2014-04-09","x":"WU does not specifically cite what the money is being sent for. It just keeps tabs on the money flow and when/to-whom it…"},{"t":"How costly is it to launch a payments or mobile wallet startup?","u":"how-costly-is-it-to-launch-a-payments-or-mobile-wallet-startup","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":[],"d":"2014-04-08","x":"The answer is: it depends. It depends on your transaction set, the product offering, the country in which you would like…"},{"t":"Will mobile phones remain just a tool to initiate payments, or will they become the primary payment instrument themselves?","u":"will-mobile-phones-remain-just-a-tool-to-initiate-payments-or-will-they-become-the-primary-payment-i","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":[],"d":"2014-04-08","x":"The mobile phone cannot become the payment instrument as yet, though every indication is that it is transitioning…"},{"t":"How can a system protect against password guessing attacks, and how do banks stop repeated PIN guessing on stolen cards?","u":"how-can-a-system-protect-against-password-guessing-attacks-and-how-do-banks-stop-repeated-pin-guessi","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Data Security"],"p":[],"d":"2014-04-08","x":"Depends on where in the world you are and how the ATM in that specific location is setup, most ATMs will lock you out,…"},{"t":"Why is the value of the U.S. dollar falling in Pakistan?","u":"why-is-the-value-of-the-us-dollar-falling-in-pakistan","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Exchange Rates"],"p":["Pakistan","Pakistani Rupee"],"d":"2014-04-08","x":"Temporary off-set by intervention by Ministry of Finance (aka Mr. Dar, the Finance Minister), with the induction of US$…"},{"t":"In banking, what does the abbreviation DFV stand for?","u":"in-banking-what-does-the-abbreviation-dfv-stand-for","c":"General Finance Questions","s":["Finance Terminology","Definitions"],"p":[],"d":"2014-04-07","x":"DvF is Delivery-versus-Free and is an RTGS associated terminology. A DvF transaction would mean that the transfer or…"},{"t":"Do remittance providers require exclusive agreements with their international partners or agents?","u":"do-remittance-providers-require-exclusive-agreements-with-their-international-partners-or-agents","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Remittance Agents"],"p":[],"d":"2014-04-06","x":"No. Unless of course you\u0026#39;re Western Union or Moneygram (in which case, you will have to choose one). But as a general…"},{"t":"Where can I obtain data on the total volume of money moving through international remittance pathways?","u":"where-can-i-obtain-data-on-the-total-volume-of-money-moving-through-international-remittance-pathway","c":"Payment Corridors and Remittance Economics","s":["Remittance Data","Remittance Statistics"],"p":["Mexico"],"d":"2014-04-06","x":"World Bank Remittance Data is the most trusted source (as all Central Banks report their remittance data to them): See…"},{"t":"Where can I access the official NACHA (ACH) specifications?","u":"where-can-i-access-the-official-nacha-ach-specifications","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2014-04-06","x":"NACHA is an association. They don\u0026#39;t put out any specifications per se, the two organization that constitute ACH are:…"},{"t":"Why don’t mobile network operators make better use of spare capacity on home Wi-Fi routers to improve their networks?","u":"why-dont-mobile-network-operators-make-better-use-of-spare-capacity-on-home-wi-fi-routers-to-improve","c":"General Finance Questions","s":["Uncategorised"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-04-06","x":"Many countries are working on this, classical example is Thailand, where the commercial APs are all around in Malls and…"},{"t":"How did Quora manage to attract so many subject-matter experts to the platform?","u":"how-did-quora-manage-to-attract-so-many-subject-matter-experts-to-the-platform","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Insights","Industry Strategy"],"p":[],"d":"2014-04-06","x":"As a personal observation, I\u0026#39;ve noticed that there remains sort of a fixed number (albeit growing slightly) of the…"},{"t":"How do money transfer firms like Xoom and Western Union operate behind the scenes?","u":"how-do-money-transfer-firms-like-xoom-and-western-union-operate-behind-the-scenes","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Western Union"],"p":[],"d":"2014-04-06","x":"I wrote an answer for this: What exactly happens when money is sent via Western Union versus a company like XOOM? What…"},{"t":"SWIFT/MT940: How can the closing balance date be determined when MT940 reports arrive in multiple pages and sequences around midnight?","u":"swiftmt940-how-can-the-closing-balance-date-be-determined-when-mt940-reports-arrive-in-multiple-page","c":"Treasury, Liquidity and Corporate Finance","s":["Treasury Operations for Payment Firms"],"p":[],"d":"2014-04-06","x":"This is something you will have to assign and adhere to. With our clients, the date is set at the last transmission. In…"},{"t":"What is the best way to transfer money from the U.S. to Pakistan?","u":"what-is-the-best-way-to-transfer-money-from-the-us-to-pakistan","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["New York","Pakistan"],"d":"2014-04-06","x":"For US$ 5,000/month, your best option would be via Society for Worldwide Interbank Financial Telecommunication (SWIFT)…"},{"t":"Can companies place a memo-post on an account—via ACH or other means—before the actual funds arrive?","u":"can-companies-place-a-memo-post-on-an-accountvia-ach-or-other-meansbefore-the-actual-funds-arrive","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2014-04-06","x":"Short answer: No. Such posting or validating/blocking of funds is not available in the ACH system."},{"t":"Can a non-bank institution move money from one person’s bank account to another person’s bank account?","u":"can-a-non-bank-institution-move-money-from-one-persons-bank-account-to-another-persons-bank-account","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Payment Infrastructure"],"p":[],"d":"2014-04-06","x":"Yes, it is possible, provided the institution has either been authorised to do so, or the account holders are using this…"},{"t":"Why is PayPal not available in Pakistan?","u":"why-is-paypal-not-available-in-pakistan","c":"Licensing in Other Countries","s":["Pakistan Licensing (SBP)"],"p":["Asia","Indian Subcontinent"],"d":"2014-04-06","x":"Allow me to answer this, as I am the person who has been writing to PayPal (product) for the past 10+ years. You might…"},{"t":"Why has PayPal failed to become the universal standard for internet payments?","u":"why-has-paypal-failed-to-become-the-universal-standard-for-internet-payments","c":"Business Strategy, Case Studies and Lessons Learned","s":["Competitive Analysis","Industry Strategy"],"p":["China","GCC"],"d":"2014-04-05","x":"PayPal is certainly not a standard on the the Internet for payments. Whilst it is a great product (and I\u0026#39;m a huge…"},{"t":"How would you describe Bitcoin in simple terms to someone with no technical background?","u":"how-would-you-describe-bitcoin-in-simple-terms-to-someone-with-no-technical-background","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2014-04-05","x":"Nothing explains Bitcoin to a layman than this: Explain Bitcoin Like I’m Five"},{"t":"Why have credit card dimensions been standardized at about 86mm by 54mm?","u":"why-have-credit-card-dimensions-been-standardized-at-about-86mm-by-54mm","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2014-04-05","x":"It evolved from the business card. See Faisal Khan\u0026#39;s answer to How was the standard size of a credit card or a business…"},{"t":"How can I purchase Bitcoin?","u":"how-can-i-purchase-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2014-04-04","x":"Here are the list of Exchanges from where you can buy Bitcoins: https://en.bitcoin.it/wiki/Categ... s In addition to…"},{"t":"If the U.S. heavily regulates Bitcoin, would it create opportunities for other countries?","u":"if-the-us-heavily-regulates-bitcoin-would-it-create-opportunities-for-other-countries","c":"Crypto and VASP Licensing","s":["Crypto Regulation","Virtual Asset Service Providers (VASP)"],"p":["Bitcoin","United States"],"d":"2014-04-04","x":"US has already started regulating Bitcoins. FinCEN now required Bitcoins exchanges be registered as a Money Service…"},{"t":"Why hasn’t PayPal introduced its own virtual currency?","u":"why-hasnt-paypal-introduced-its-own-virtual-currency","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Business Insights"],"p":["Bitcoin"],"d":"2014-04-04","x":"Interesting question. Here is my viewpoint. In the global scheme of payments, PayPal is dwarfed by others (think VISA,…"},{"t":"Why do traders feel uncertain or nervous when markets continue climbing?","u":"why-do-traders-feel-uncertain-or-nervous-when-markets-continue-climbing","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Stock Markets","Securities"],"p":[],"d":"2014-04-04","x":"Because by the time I and the elevator attendant gets in on the action, someone will be offloading massively. You and I…"},{"t":"What has been your experience using 2Checkout for accepting online payments?","u":"what-has-been-your-experience-using-2checkout-for-accepting-online-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2014-04-03","x":"Quite a few of my clients have used 2Checkout in the past. Barring the fees which is on the high-side, 2CO is a very…"},{"t":"Can I set up an online store that accepts international credit and debit cards?","u":"can-i-set-up-an-online-store-that-accepts-international-credit-and-debit-cards","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Gateways"],"p":["India","India Payment Aggregators"],"d":"2014-04-03","x":"Sure you can. There are many Indian payment processors that can help you with this. The ability to accept international…"},{"t":"Does the Ripple Gateway alter the way Bitcoin or other cryptocurrencies are transferred?","u":"does-the-ripple-gateway-alter-the-way-bitcoin-or-other-cryptocurrencies-are-transferred","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Remittances"],"p":["Bitcoin"],"d":"2014-04-03","x":"As a concept, not really. As an alternate, yes! Ripple to me is an improved Bitcoin protocol, which addresses the many…"},{"t":"In what ways might Bitcoin change the world?","u":"in-what-ways-might-bitcoin-change-the-world","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2014-04-03","x":"Not sure what change you are inferring to, they will have a huge impact in the longer run. Will Bitcoin (or whatever…"},{"t":"Why does the IRS treat Bitcoin as property while FinCEN treats it as a form of currency?","u":"why-does-the-irs-treat-bitcoin-as-property-while-fincen-treats-it-as-a-form-of-currency","c":"Regulators, Enforcement and Regulatory Change","s":["US Crypto Regulation","Regulation"],"p":["Bitcoin","United States"],"d":"2014-04-03","x":"Each branch has its own understanding and definition of Bitcoin. FinCEN decided to treat it as a currency, since it was…"},{"t":"As a tourist in San Francisco, can I simply walk into a bank and open an account?","u":"as-a-tourist-in-san-francisco-can-i-simply-walk-into-a-bank-and-open-an-account","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["United States"],"d":"2014-04-03","x":"You can. Surprisingly, many people think opening a bank account as a visiting tourist (foreigner) you will run into…"},{"t":"What steps are needed to build a CCAvenue-style payment gateway in India, and what functions does a gateway perform?","u":"what-steps-are-needed-to-build-a-ccavenue-style-payment-gateway-in-india-and-what-functions-does-a-g","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Service Providers (PSP)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-04-03","x":"You might want to read this answer: What are the requirements and processes a startup must comply with and implement to…"},{"t":"What must a startup do to become a Payment Gateway, ISO, or PSP, and what risks are involved in taking on these roles?","u":"what-must-a-startup-do-to-become-a-payment-gateway-iso-or-psp-and-what-risks-are-involved-in-taking","c":"Merchant Accounts, Processors and Gateways","s":["Payment Service Providers (PSP)","Payment Gateways"],"p":[],"d":"2014-04-03","x":"The process is not overly complicated and naturally will differ country to country. Essentially, the elements in…"},{"t":"Are there any countries that are close to being cashless, relying mostly on digital payments and cards, and will this trend continue?","u":"are-there-any-countries-that-are-close-to-being-cashless-relying-mostly-on-digital-payments-and-card","c":"Payments (General)","s":["Payment Methods","Cash"],"p":[],"d":"2014-04-02","x":"We don\u0026#39;t be getting rid of Cash anytime soon. Small payments at gas stations, utility stores, small eateries, etc. are…"},{"t":"Why do U.S. banks ask customers to explain why they are withdrawing funds?","u":"why-do-us-banks-ask-customers-to-explain-why-they-are-withdrawing-funds","c":"AML Programs, KYC and Compliance Operations","s":["Financial Surveillance","AML Policies and Procedures"],"p":["British Pound Sterling","Developed Markets"],"d":"2014-04-01","x":"This practice has recently propped up in the US and UK (perhaps in Canada as well, but haven\u0026#39;t heard cases as such).…"},{"t":"How could a brand-new retail bank be designed today to outperform incumbents like Bank of America and Chase, including which less-obvious features to add or omit?","u":"how-could-a-brand-new-retail-bank-be-designed-today-to-outperform-incumbents-like-bank-of-america-an","c":"Digital Banks, Neobanks and Mobile Banking","s":["Digital Banks","Challenger Banks"],"p":[],"d":"2014-04-01","x":"Service. At the end of the day, consumers look for stellar services and will be happy to huddle around that offering.…"},{"t":"If Bitcoin aims to decentralize finance, why did financial systems become centralized in the first place?","u":"if-bitcoin-aims-to-decentralize-finance-why-did-financial-systems-become-centralized-in-the-first-pl","c":"History of Money, Banking and Finance","s":["History of Payment Systems","History of Money"],"p":["Bitcoin"],"d":"2014-04-01","x":"The need for decentralization wasn\u0026#39;t present before. Things and ideas that evolve and come into mainstream usage are…"},{"t":"In what respects are credit cards superior to cash or checks as payment tools?","u":"in-what-respects-are-credit-cards-superior-to-cash-or-checks-as-payment-tools","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Chargebacks"],"p":[],"d":"2014-03-12","x":"I hold the view that being able to reverse a payment is perhaps the most important reason I have for using the credit…"},{"t":"How do contactless payment cards function in practice?","u":"how-do-contactless-payment-cards-function-in-practice","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2014-03-12","x":"Contactless cards essentially use the radio-frequency to communicate with each other - yes, its wireless radio antenna…"},{"t":"In what ways is Moven’s banking service different from Simple, GoBank, and Bluebird?","u":"in-what-ways-is-movens-banking-service-different-from-simple-gobank-and-bluebird","c":"Digital Banks, Neobanks and Mobile Banking","s":["Digital Banks","Neobanks"],"p":[],"d":"2014-03-12","x":"More or less the same concept, albeit a different flavor with more bells and whistles that uses the engagement process…"},{"t":"Given today’s instant digital world, why can’t online bank payments be credited to the recipient immediately, and why do legacy rules still apply?","u":"given-todays-instant-digital-world-why-cant-online-bank-payments-be-credited-to-the-recipient-immedi","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Instant Payments"],"p":["Developed Markets","Emerging Markets"],"d":"2014-03-12","x":"To understand (from the US perspective) as to why there is no real-time settlement switch, it is important to understand…"},{"t":"What are the biggest user-experience challenges facing mobile wallet products?","u":"what-are-the-biggest-user-experience-challenges-facing-mobile-wallet-products","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Mobile Payments"],"p":[],"d":"2014-03-12","x":"Assuming that you are starting in a specific territory, some of the challenges for the mobile wallet are (not UX per se,…"},{"t":"How do Swiss banks handle and use the funds deposited by their clients?","u":"how-do-swiss-banks-handle-and-use-the-funds-deposited-by-their-clients","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":["DACH (Germany, Austria, Switzerland)","Developed Markets"],"d":"2014-03-11","x":"Swiss Bank lend and invest money like any other commercial bank. They do both priviate and institutional lending. A lot…"},{"t":"Does the World Bank impose interest on the loans it provides?","u":"does-the-world-bank-impose-interest-on-the-loans-it-provides","c":"Geopolitics of Money and the International Monetary System","s":["Development Banks"],"p":[],"d":"2014-03-11","x":"As Jawwad Farid pointed out, they do. Typically, World Bank (and IMF), charge 0.5% on top of their cost of borrowing (at…"},{"t":"What is the distinction between a clearinghouse and an exchange?","u":"what-is-the-distinction-between-a-clearinghouse-and-an-exchange","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Trading Platforms","Securities Clearing"],"p":[],"d":"2014-03-11","x":"An exchange is a marketplace for trades, one that provides the match making engine and players that bring liquidity.…"},{"t":"Is Ripple fundamentally tied to U.S. dollars or to Bitcoin?","u":"is-ripple-fundamentally-tied-to-us-dollars-or-to-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Cryptocurrency Basics","Crypto Terminology"],"p":["Bitcoin"],"d":"2014-03-11","x":"Ripple is its own protocol for financial transactions on the Internet. It uses the principals borrowed from Bitcoin, but…"},{"t":"Are routing numbers and ABA numbers identical for both domestic and international banking?","u":"are-routing-numbers-and-aba-numbers-identical-for-both-domestic-and-international-banking","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Routing Numbers","Payment Routing"],"p":["United States"],"d":"2014-03-10","x":"ABA (Routing Number) is a US only routing mechanism, it is used for domestic routing of transactions that are US…"},{"t":"What steps are needed to establish a bank in the United Kingdom?","u":"what-steps-are-needed-to-establish-a-bank-in-the-united-kingdom","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["UK Licensing"],"p":["Developed Markets","EMEA"],"d":"2014-03-10","x":"You would need to contact the Financial Services Authority (FSA) in UK to obtain a Banking license (See…"},{"t":"What requirements must be met to build a payment processor similar to Stripe or Braintree?","u":"what-requirements-must-be-met-to-build-a-payment-processor-similar-to-stripe-or-braintree","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":[],"d":"2014-03-10","x":"The Legal issues can best be addressed by either your attorney who is advising you or by the companies with which you…"},{"t":"How many separate ledgers or copies of the ledger does Bitcoin actually maintain?","u":"how-many-separate-ledgers-or-copies-of-the-ledger-does-bitcoin-actually-maintain","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain Technology","Blockchain"],"p":["Bitcoin"],"d":"2014-03-10","x":"The Block count can be seen from Page on blockexplorer.com (right now at the time of this answer: 289,988 blocks (or…"},{"t":"Is “financial startup” a meaningful category, and what does it encompass?","u":"is-financial-startup-a-meaningful-category-and-what-does-it-encompass","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Industry","Fintech Startups"],"p":[],"d":"2014-03-10","x":"Yes there are. Companies like Simple.com and Moven Bank are financial start-ups. These companies are using technology to…"},{"t":"What is the most comprehensive method for processing payments online?","u":"what-is-the-most-comprehensive-method-for-processing-payments-online","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2014-03-10","x":"Not sure if you can call it a framework per se, but one (logical) way to do what you have cited is to invest in an…"},{"t":"If global confidence in the U.S. dollar collapsed, what would likely become the new world reserve currency?","u":"if-global-confidence-in-the-us-dollar-collapsed-what-would-likely-become-the-new-world-reserve-curre","c":"Geopolitics of Money and the International Monetary System","s":["Reserve Currencies","Monetary Systems"],"p":["China","Chinese Yuan Renminbi"],"d":"2014-03-10","x":"I think it would certainly not be a single currency. Too much reliance on a single country. It would most likely be a…"},{"t":"Do bank-to-bank wire transfers count as taxable income?","u":"do-bank-to-bank-wire-transfers-count-as-taxable-income","c":"Tax and Financial Reporting","s":["Taxation of Payments","Tax"],"p":[],"d":"2014-03-10","x":"No, provided the title name on both the accounts is the same and both belong to you."},{"t":"Where can I cash a MoneyGram money order if I do not have a bank account?","u":"where-can-i-cash-a-moneygram-money-order-if-i-do-not-have-a-bank-account","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Remittance Agents"],"p":[],"d":"2014-03-08","x":"All Moneygram Agents will be able to cash your Moneygram money order. Best to use the agent locator to find one and then…"},{"t":"How can a non-U.S. resident open a U.S. bank account if they have already formed a U.S. company?","u":"how-can-a-non-us-resident-open-a-us-bank-account-if-they-have-already-formed-a-us-company","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["United States"],"d":"2014-03-08","x":"Purely sitting outside the US, despite being incorporated and having an EIN in the US, it is very difficult to open an…"},{"t":"Can someone who is not a Singapore citizen or resident open a bank account in Singapore?","u":"can-someone-who-is-not-a-singapore-citizen-or-resident-open-a-bank-account-in-singapore","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Singapore"],"d":"2014-03-08","x":"Yes, you can. As a non-resident, you can open an bank account in Singapore (it can only be a personal account) and not a…"},{"t":"What is the most affordable method to transfer money from the U.S. to Indonesia or other Asian countries?","u":"what-is-the-most-affordable-method-to-transfer-money-from-the-us-to-indonesia-or-other-asian-countri","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-03-08","x":"The cheapest rate you will get is via your bank\u0026#39;s wire transfer. If you are going to move all your money in one go, then…"},{"t":"What distinguishes a Merchant Service Provider (MSP) from an Acquirer?","u":"what-distinguishes-a-merchant-service-provider-msp-from-an-acquirer","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2014-03-08","x":"In some circles, they are the same: MSP = Acquirer. In my definition, and strictly speaking an Acquirer is the Bank…"},{"t":"Which U.S. banks permit opening an account without in-person branch visits?","u":"which-us-banks-permit-opening-an-account-without-in-person-branch-visits","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Account Verification"],"p":["Americas","Developed Markets"],"d":"2014-03-08","x":"Under the new rules. None . Physical presence at a bank branch is now required."},{"t":"Where can I locate former banking C-suite executives who now work as consultants or have retired?","u":"where-can-i-locate-former-banking-c-suite-executives-who-now-work-as-consultants-or-have-retired","c":"Careers, Jobs and Working in Finance","s":["People in Finance","Employment"],"p":[],"d":"2014-03-08","x":"Your best bet, would be to lounge through the various groups on LinkedIn (product) , especially those dealing with…"},{"t":"IRS: Does FBAR reporting apply to offshore accounts if the $10,000 threshold was met only briefly within the same day, without remaining overnight?","u":"irs-does-fbar-reporting-apply-to-offshore-accounts-if-the-10000-threshold-was-met-only-briefly-withi","c":"Tax and Financial Reporting","s":["Financial Reporting","Tax"],"p":["Offshore Jurisdictions","United States"],"d":"2014-03-08","x":"Yes, if the aggregate value exceeds US$ 10,000 per year, an FBAR report has to be filed by the bank. Its irrespective if…"},{"t":"Are customers more inclined to visit a bank branch if it resembles an Apple Store or a lounge-style environment?","u":"are-customers-more-inclined-to-visit-a-bank-branch-if-it-resembles-an-apple-store-or-a-lounge-style","c":"Business Strategy, Case Studies and Lessons Learned","s":["Customer Experience in Finance","Business Insights"],"p":[],"d":"2014-03-08","x":"Short answer: No. Not really. Two arguments here: Convenience : People prefer convenience. So more and more banking…"},{"t":"Will Dubai continue its rapid growth, or is its construction boom and economy likely to slow down?","u":"will-dubai-continue-its-rapid-growth-or-is-its-construction-boom-and-economy-likely-to-slow-down","c":"Economics, Inflation and Monetary Policy","s":["Economic Trends","Macroeconomics"],"p":["GCC","Gulf Cooperation Council"],"d":"2014-03-08","x":"Dubai is the center point of so many countries. There is the entire South Asia Region, i.e. SAARC, the ASEAN region, the…"},{"t":"As a consultant in the payments industry, what should you definitely do—and what should you avoid doing?","u":"as-a-consultant-in-the-payments-industry-what-should-you-definitely-doand-what-should-you-avoid-doin","c":"Careers, Jobs and Working in Finance","s":["Careers in Payments","Jobs"],"p":[],"d":"2014-03-08","x":"A few pointers, as a Consultant... First and foremost, do not take assignments that become conflict of interest with…"},{"t":"Why might governments choose to officially recognize cryptocurrencies like Bitcoin?","u":"why-might-governments-choose-to-officially-recognize-cryptocurrencies-like-bitcoin","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulatory Policy Debates"],"p":["Bitcoin","China"],"d":"2014-03-08","x":"The above quote can perhaps best describe what Bitcoin is to the governments worldwide. Its a tangential form of…"},{"t":"What are the lowest-cost methods for international bank or money transfers?","u":"what-are-the-lowest-cost-methods-for-international-bank-or-money-transfers","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2014-03-08","x":"Depending on the countries you want to transfer the money out to, the players will vary. You may want to look out for an…"},{"t":"Does anyone here believe that Leaf is genuinely disrupting the point-of-sale (POS) payments space?","u":"does-anyone-here-believe-that-leaf-is-genuinely-disrupting-the-point-of-sale-pos-payments-space","c":"Merchant Accounts, Processors and Gateways","s":["Point of Sale (POS)","Payment Processors"],"p":[],"d":"2014-03-07","x":"Disruption might be too strong of a word to define Leaf. Innovative, yes certainly, disruptive, hardly!."},{"t":"What are effective ways to receive payments from international clients when PayPal isn’t an option?","u":"what-are-effective-ways-to-receive-payments-from-international-clients-when-paypal-isnt-an-option","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Getting Paid from Abroad","Online Payment Platforms"],"p":["Canada","United States"],"d":"2014-03-07","x":"There are a couple of options you can exercise. One is you can go to a 3rd party payment provider like 2CO (2CheckOut)…"},{"t":"Can multiple different people wire money into my bank account without it triggering suspicion?","u":"can-multiple-different-people-wire-money-into-my-bank-account-without-it-triggering-suspicion","c":"AML Programs, KYC and Compliance Operations","s":["Transaction Monitoring","Anti-Money Laundering (AML)"],"p":[],"d":"2014-03-06","x":"If it is a personal account, you would most likely be called in to explain. If it is a business account, possibility…"},{"t":"How do Coinbase and Kraken differ from each other as cryptocurrency exchanges?","u":"how-do-coinbase-and-kraken-differ-from-each-other-as-cryptocurrency-exchanges","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Bitcoin"],"d":"2014-03-05","x":"Coinbase is a retailer so to speak for Bitcoins. They allow you to accept payments in Bitcoins and convert them…"},{"t":"What are the most important things to understand about the banking industry?","u":"what-are-the-most-important-things-to-understand-about-the-banking-industry","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2014-03-05","x":"That essentially banking is the same world over. Barring a few variations and flavours for each local market, it pretty…"},{"t":"Has anyone found a fully online-only bank that caters specifically to small and medium enterprises (SMEs)?","u":"has-anyone-found-a-fully-online-only-bank-that-caters-specifically-to-small-and-medium-enterprises-s","c":"Digital Banks, Neobanks and Mobile Banking","s":["Digital Banks","App-Only Banking"],"p":["Americas","Developed Markets"],"d":"2014-03-04","x":"Other than the one (and only) branch which is their head-office, you might want to look up USAA ( USAA / Welcome to USAA…"},{"t":"Why did the bank place a special stamp in my passport when issuing traveler’s checks?","u":"why-did-the-bank-place-a-special-stamp-in-my-passport-when-issuing-travelers-checks","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Travel Money"],"p":[],"d":"2014-03-04","x":"That used to be the case, not any more. Nowadays, your passport number is written on the travelers cheques (depending on…"},{"t":"Can a non-U.S. citizen form a Delaware C-Corp and open its bank account remotely?","u":"can-a-non-us-citizen-form-a-delaware-c-corp-and-open-its-bank-account-remotely","c":"Opening Bank Accounts, Personal and Business","s":["Business Bank Accounts","Bank Account Opening"],"p":["Delaware","United States"],"d":"2014-03-04","x":"To the best of my knowledge, a Non-US Citizen cannot open a business bank account remotely. There is a requirement to…"},{"t":"Banking in Singapore: Is it possible to open a savings account for children?","u":"banking-in-singapore-is-it-possible-to-open-a-savings-account-for-children","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Account Structures"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-03-04","x":"Yes, quite a few number of banks offer this (see sample offering below): POSBkids Account - Savings Account for Children…"},{"t":"Why does a payment aggregator need dedicated teams for fraud detection, underwriting, and risk analysis?","u":"why-does-a-payment-aggregator-need-dedicated-teams-for-fraud-detection-underwriting-and-risk-analysi","c":"Merchant Accounts, Processors and Gateways","s":["Payment Service Providers (PSP)","Payment Processors"],"p":[],"d":"2014-03-04","x":"Even a payment aggregator who is providing such services is being underwritten. In providing on-wards services to…"},{"t":"What challenges or risks might Bitcoin encounter in the future?","u":"what-challenges-or-risks-might-bitcoin-encounter-in-the-future","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulatory Change"],"p":["Bitcoin"],"d":"2014-03-04","x":"Regulatory lockdown. Where, as you cited trading, buying and selling of Bitcoins with \u0026#34;traditional\u0026#34; (read: approved)…"},{"t":"Is now a favorable time to invest in gold (GLD)?","u":"is-now-a-favorable-time-to-invest-in-gold-gld","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Commodities","Securities"],"p":[],"d":"2014-03-04","x":"Yes, Gold (physical delivery) is a safe investment. However, it should not constitute as your complete investment, but a…"},{"t":"How do PSPs differ from ISOs within the payments ecosystem?","u":"how-do-psps-differ-from-isos-within-the-payments-ecosystem","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Independent Sales Organizations (ISO)"],"p":[],"d":"2014-03-03","x":"There is a really great article to this Question by Braintree (company) on their Blog on a post called Merchant Account…"},{"t":"Can a wire transfer be returned if it fails to go through?","u":"can-a-wire-transfer-be-returned-if-it-fails-to-go-through","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Wire Transfer Delays and Tracing"],"p":[],"d":"2014-03-03","x":"As Jake Holloway said, mostly yes, sometimes in can indeed take long, because the systems and flows are to allow money…"},{"t":"Why is U.S. commercial banking technology seemingly a decade behind that of other countries I’ve lived in?","u":"why-is-us-commercial-banking-technology-seemingly-a-decade-behind-that-of-other-countries-ive-lived","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":["Americas","Developed Markets"],"d":"2014-03-02","x":"The US has a very large financial footprint. What was working fine, the old-age saying, if it ain\u0026#39;t broke, don\u0026#39;t fix it!…"},{"t":"Why does Braintree require an initial deposit when you open a payments account?","u":"why-does-braintree-require-an-initial-deposit-when-you-open-a-payments-account","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2014-03-01","x":"Presumably for chargebacks. They are taking a risk on you, by partially underwriting you. If they did not have a deposit…"},{"t":"What information is encoded on the magnetic stripe of a credit card?","u":"what-information-is-encoded-on-the-magnetic-stripe-of-a-credit-card","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2014-03-01","x":"Data on the Credit Card is stored on Track1 and Track2 on the magstripe Both Track 1 and Track 2 contain enough basic…"},{"t":"Are the bitcoins from Mt. Gox effectively removed from circulation, or are they considered stolen and now owned by someone else?","u":"are-the-bitcoins-from-mt-gox-effectively-removed-from-circulation-or-are-they-considered-stolen-and","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchange Failures","Crypto Exchanges"],"p":["Bitcoin"],"d":"2014-03-01","x":"If they were traded, they are part and parcel of the money supply. They most likely belong to someone else now. The…"},{"t":"Why do certain gas stations add a surcharge for credit card payments?","u":"why-do-certain-gas-stations-add-a-surcharge-for-credit-card-payments","c":"Merchant Accounts, Processors and Gateways","s":["Surcharging","Card Payments"],"p":[],"d":"2014-02-12","x":"Gas stations make really low margins when selling gasoline. For them to dish out acquiring fees from this already low…"},{"t":"Why is there no M-Pesa-style mobile money system in Europe despite its success in some African nations?","u":"why-is-there-no-m-pesa-style-mobile-money-system-in-europe-despite-its-success-in-some-african-natio","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":["Africa","Developed Markets"],"d":"2014-02-12","x":"Europe has a very advance communications network. In M-Pesa\u0026#39;s case, especially for Kenya, necessity is the mother of all…"},{"t":"What is the main reason you choose one specific credit card over others when making a purchase?","u":"what-is-the-main-reason-you-choose-one-specific-credit-card-over-others-when-making-a-purchase","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2014-02-12","x":"I actually did a survey (preferred credit card from the wallet) on this about a year and a half back, the results were…"},{"t":"What are some of the best websites or services on the internet where you can spend Bitcoins?","u":"what-are-some-of-the-best-websites-or-services-on-the-internet-where-you-can-spend-bitcoins","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin","United States Dollar"],"d":"2014-02-12","x":"BitPay which is a leading provider of Bitcoin acceptance for your website, have a list they maintain of about 12,000…"},{"t":"Why do some venues occasionally stop accepting bank cards for a short time?","u":"why-do-some-venues-occasionally-stop-accepting-bank-cards-for-a-short-time","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Point of Sale (POS)"],"p":[],"d":"2014-02-11","x":"Sure. banks have maintenance windows and depending on which country you reside in, banks have to make an adequate…"},{"t":"Who is the largest Bitcoin broker or exchange besides Mt. Gox?","u":"who-is-the-largest-bitcoin-broker-or-exchange-besides-mt-gox","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Bitcoin"],"d":"2014-02-11","x":"Most likely Bitstamp (see https://www.bitstamp.net/) and I guess a close second would be BTC-e (see https://btc-e.com/).…"},{"t":"What are the biggest current issues with Bitcoin?","u":"what-are-the-biggest-current-issues-with-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin"],"p":["Bitcoin","United States Dollar"],"d":"2014-02-11","x":"Out of a personal survey done with people who are internet savvy and know about e-commerce, etc, this is what I noticed:…"},{"t":"How do banks settle payments internally when payment systems connect to multiple banks?","u":"how-do-banks-settle-payments-internally-when-payment-systems-connect-to-multiple-banks","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Settlement Accounts","Settlement Models"],"p":[],"d":"2014-02-11","x":"Here is a generic settlement process example as shown below. It can be applied universally all across for payments. For…"},{"t":"As data-security demands grow, will credit card processing shift more toward cloud-based solutions?","u":"as-data-security-demands-grow-will-credit-card-processing-shift-more-toward-cloud-based-solutions","c":"Banking and Payments Technology Stack","s":["Cloud Infrastructure for Finance","Financial Technology Architecture"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-02-10","x":"Yes, they slowly are moving towards cloud-based service offering. It has already started in the South Asia, South East…"},{"t":"In which countries is Bitcoin currently banned or prohibited?","u":"in-which-countries-is-bitcoin-currently-banned-or-prohibited","c":"Crypto and VASP Licensing","s":["Crypto Regulation"],"p":["Bitcoin","Restricted Jurisdictions"],"d":"2014-02-10","x":"41 Countries have had publish a note and/or a regulation against/for Bitcoin. That list can be seen here: Regulation of…"},{"t":"What does “finance” mean within the context of banking?","u":"what-does-finance-mean-within-the-context-of-banking","c":"General Finance Questions","s":["Definitions","Finance Terminology"],"p":[],"d":"2014-02-10","x":"The ability to arrange money for lending, leasing and/or commercial investment."},{"t":"Is there a global online directory of banks?","u":"is-there-a-global-online-directory-of-banks","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2014-02-10","x":"SWIFT offers a global directory of SWIFT Member Banks, but this is not available to the general user, it is only…"},{"t":"Who determines the transaction fees charged at a specific ATM?","u":"who-determines-the-transaction-fees-charged-at-a-specific-atm","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards"],"p":[],"d":"2014-02-10","x":"You have quite a few parties to blame (so-to-speak) If you are charged for an ATM owned and operated by your Bank, then…"},{"t":"What are some surprising or lesser-known facts about how banks function and operate?","u":"what-are-some-surprising-or-lesser-known-facts-about-how-banks-function-and-operate","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2014-02-10","x":"That Cash-in-Vault is money (cash) that the Bank has, but frowns upon. This is money that the bank cannot earn income…"},{"t":"How can I incorporate EFT functionality into my website?","u":"how-can-i-incorporate-eft-functionality-into-my-website","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Account-to-Account Payments"],"p":["Americas","Developed Markets"],"d":"2014-02-09","x":"Depends where you are located, but for example in the US, you can very easily use ACH to do this. Once the funds are in…"},{"t":"What creative methods can investors use to move money out of a country that prohibits outbound fund transfers?","u":"what-creative-methods-can-investors-use-to-move-money-out-of-a-country-that-prohibits-outbound-fund","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Informal Finance","Informal Value Transfer Systems (IVTS)"],"p":[],"d":"2014-02-09","x":"There are many ways of doing this. Depending on the money we are talking it can vary from country to country. In some…"},{"t":"Does PayPal operate or work for users in Cuba?","u":"does-paypal-operate-or-work-for-users-in-cuba","c":"Sanctions, Embargoes and Screening","s":["Sanctions Compliance","Sanctioned Countries"],"p":["Cuba","Latin America"],"d":"2014-02-09","x":"No . Cube is on the list of embargoed countries by the US (has been since 1962) so any trade with Cuba by an American…"},{"t":"How does an ATM end up capturing or “eating” a card?","u":"how-does-an-atm-end-up-capturing-or-eating-a-card","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards","Card Security"],"p":[],"d":"2014-02-09","x":"ATMs will eat a card when the ruleset has been flagged. It could be multiple tries for PIN (if the financial switch at…"},{"t":"At what point and in which places does a currency’s value change—at money changers, in banks, or elsewhere?","u":"at-what-point-and-in-which-places-does-a-currencys-value-changeat-money-changers-in-banks-or-elsewhe","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Exchange Rates"],"p":["Euro"],"d":"2014-02-09","x":"If you are referring to exchange rates as seen at Money Changers (or MTOs) and Banks, it is because these values are…"},{"t":"What career options exist within the banking industry?","u":"what-career-options-exist-within-the-banking-industry","c":"Careers, Jobs and Working in Finance","s":["Careers in Banking","Jobs"],"p":[],"d":"2014-02-08","x":"From my personal and professional aspect, I think you should look at a niche within the banking sector, where their are…"},{"t":"Do cryptocurrencies count as part of the M1 money supply?","u":"do-cryptocurrencies-count-as-part-of-the-m1-money-supply","c":"Economics, Inflation and Monetary Policy","s":["Money Supply","Macroeconomics"],"p":[],"d":"2014-02-07","x":"No. Typically M1 definition would imply those fiat payment instruments issued by the Central Bank. Since…"},{"t":"Banking: I need a commercial bank that can cash USD checks, pay local salaries, and wire funds abroad. Does it matter if both banks share the same global brand (e.g., Citi, HSBC), or can they differ?","u":"banking-i-need-a-commercial-bank-that-can-cash-usd-checks-pay-local-salaries-and-wire-funds-abroad-d","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":["United States Dollar"],"d":"2014-02-06","x":"This would come under the purview of Transaction Banking, almost any bank that has a good retail and business setup…"},{"t":"Do any financial institutions consider your prior credit or payment history when relocating to another country?","u":"do-any-financial-institutions-consider-your-prior-credit-or-payment-history-when-relocating-to-anoth","c":"Lending, Credit Scores and BNPL","s":["Credit Risk","Consumer Credit"],"p":[],"d":"2014-02-06","x":"Barclays Premium Account holders as managed by Barclays Wealth Management get the same preferential treatment."},{"t":"SWIFT Transfer: I send my uncle €50 weekly via PayPal, he gives cash to my son, and takes a 5% cut plus PayPal fees. It’s cheaper than Western Union—could this be illegal?","u":"swift-transfer-i-send-my-uncle-50-weekly-via-paypal-he-gives-cash-to-my-son-and-takes-a-5-cut-plus-p","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Informal Remittance Channels","Informal Finance"],"p":["Euro"],"d":"2014-02-06","x":"Quite legal on your part. You\u0026#39;re sending money via legal channels, so all AML, KYC, reporting etc. is being done on your…"},{"t":"As the person issuing the check, can I restrict how long the recipient has to deposit it?","u":"as-the-person-issuing-the-check-can-i-restrict-how-long-the-recipient-has-to-deposit-it","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":[],"d":"2014-02-06","x":"No. Depending on which country you are banking in, cheques typically have 6 month validity period from the date as…"},{"t":"Are we considered a money services business if we issue branded prepaid cards usable only within a specific shopping mall (in most states)?","u":"are-we-considered-a-money-services-business-if-we-issue-branded-prepaid-cards-usable-only-within-a-s","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","MSB Registration (US)"],"p":["Americas","Developed Markets"],"d":"2014-02-06","x":"In the US, FinCEN would treat Store Value Cards (pre-paid cards) as to be associated with MSB and requires…"},{"t":"Which payment gateways are recommended for accepting online payments from U.S. customers?","u":"which-payment-gateways-are-recommended-for-accepting-online-payments-from-us-customers","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Americas","Developed Markets"],"d":"2014-02-06","x":"Most of your Indian payment gateways providers will be able to handle US transactions without an issue. Alternatively,…"},{"t":"What is the lowest practical transaction fee a service or app can charge for payments?","u":"what-is-the-lowest-practical-transaction-fee-a-service-or-app-can-charge-for-payments","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2014-02-06","x":"Dwolla - Transactions under $10 free. Else $0.25."},{"t":"How do people link their bank account to an online financial service or app?","u":"how-do-people-link-their-bank-account-to-an-online-financial-service-or-app","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Mobile Payments"],"p":[],"d":"2014-02-06","x":"The linking a bank account to an online account in the payments field is pretty simply and is known commonly as…"},{"t":"Is there a U.S. bank or credit union that lets customers set automatic ACH limits for specific counterparties?","u":"is-there-a-us-bank-or-credit-union-that-lets-customers-set-automatic-ach-limits-for-specific-counter","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":["Americas","Developed Markets"],"d":"2014-02-06","x":"In its present format, the ACH does not allow you to do what you have cited, i.e. impose client side limits and exert…"},{"t":"Which option is better: Square or ShopKeep?","u":"which-option-is-better-square-or-shopkeep","c":"Merchant Accounts, Processors and Gateways","s":["Point of Sale (POS)","POS Terminals"],"p":[],"d":"2014-02-05","x":"Square is just a Credit Card reader/swipe mechanism, Shopkeep is a complete solution for a Point-of-Sale system, there…"},{"t":"If I’m offering SaaS to Asian customers, where should my servers be located?","u":"if-im-offering-saas-to-asian-customers-where-should-my-servers-be-located","c":"Banking and Payments Technology Stack","s":["Performance"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-02-05","x":"Singapore \u0026amp; Hong Kong as your best bets. The latencies from Asia Pacific countries is low, the data-centers are…"},{"t":"Who are considered the top payments consultants for e-commerce and m-commerce?","u":"who-are-considered-the-top-payments-consultants-for-e-commerce-and-m-commerce","c":"Payments (General)","s":["Payment Methods"],"p":[],"d":"2014-02-05","x":"Have a look at Jon Matonis - He\u0026#39;s a consultant in the field. He\u0026#39;s written a lot of thought provoking articles for Forbes…"},{"t":"Could a remittance provider like Western Union be classified as a marketplace?","u":"could-a-remittance-provider-like-western-union-be-classified-as-a-marketplace","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Western Union"],"p":[],"d":"2014-02-05","x":"I\u0026#39;m going to go out on a limb and say, No. For Escrow based services, the company is (usually) not in the business for…"},{"t":"How and where do banks store, retrieve, and update account information?","u":"how-and-where-do-banks-store-retrieve-and-update-account-information","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2014-02-05","x":"You are correct in saying that your money is stored on a couple of hard disks. However, rest assured 10,000s of man…"},{"t":"Which is better for merchants: Square or ShopKeep?","u":"which-is-better-for-merchants-square-or-shopkeep","c":"Merchant Accounts, Processors and Gateways","s":["Point of Sale (POS)","POS Terminals"],"p":[],"d":"2014-02-05","x":"Square is just a Credit Card reader/swipe mechanism, Shopkeep is a complete solution for a Point-of-Sale system, there…"},{"t":"Who are the best consultants for e-commerce and mobile commerce payments?","u":"who-are-the-best-consultants-for-e-commerce-and-mobile-commerce-payments","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":[],"d":"2014-02-05","x":"Have a look at Jon Matonis - He\u0026#39;s a consultant in the field. He\u0026#39;s written a lot of thought provoking articles for Forbes…"},{"t":"How is the cost of a credit card transaction split among the various parties involved?","u":"how-is-the-cost-of-a-credit-card-transaction-split-among-the-various-parties-involved","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2014-02-04","x":"Here is a great infographic that visually explains how the interchange / swipe fee works: Source: Credit Money -…"},{"t":"What business models or concepts are uniquely enabled by Bitcoin?","u":"what-business-models-or-concepts-are-uniquely-enabled-by-bitcoin","c":"Sanctions, Embargoes and Screening","s":["Sanctions Evasion","Sanctioned Countries"],"p":["Bitcoin"],"d":"2014-02-04","x":"What business models or concepts are uniquely enabled by Bitcoin?"},{"t":"Why is the number of mineable blocks in blockchain systems limited?","u":"why-is-the-number-of-mineable-blocks-in-blockchain-systems-limited","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Blockchain Technology"],"p":["Bitcoin"],"d":"2014-02-04","x":"There are finite number of block to mine, because the number of Bitcoins themselves are finite (limited). The number of…"},{"t":"Why do banks and services charge fees for wire transfers?","u":"why-do-banks-and-services-charge-fees-for-wire-transfers","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2014-02-04","x":"Because nothing in this world of banking \u0026amp; finance is free. Moving money costs money, because with it, comes great…"},{"t":"Since physical branches are costly to operate worldwide, what does the future of banking likely look like?","u":"since-physical-branches-are-costly-to-operate-worldwide-what-does-the-future-of-banking-likely-look","c":"Digital Banks, Neobanks and Mobile Banking","s":["Digital Banks","App-Only Banking"],"p":[],"d":"2014-02-03","x":"Branchless Banking (be it the unbanked or banked). The future is certainly that the most of the transactions you do…"},{"t":"What taxes apply to international money transfers for a UK-based company?","u":"what-taxes-apply-to-international-money-transfers-for-a-uk-based-company","c":"Tax and Financial Reporting","s":["Tax","Taxation of Payments"],"p":["Developed Markets","EMEA"],"d":"2014-02-03","x":"I\u0026#39;m not sure if a UK company has to pay (or is obliged to pay) any taxes on international money transfers (be it in or…"},{"t":"Are there international legal frameworks that thoroughly protect people against theft of their bitcoins?","u":"are-there-international-legal-frameworks-that-thoroughly-protect-people-against-theft-of-their-bitco","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2014-02-02","x":"Not yet. Whilst unauthorized breaking and entering into a server is a crime in many countries, pursuing the matter is a…"},{"t":"Is Stripe’s payment system superior to Dwolla’s for developers?","u":"is-stripes-payment-system-superior-to-dwollas-for-developers","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Payment Integration"],"p":[],"d":"2014-02-02","x":"Stripe is a really cool/good product, but the whole 2.9% + US$0.30 is a turn off to many. What makes PayPal look so bad?…"},{"t":"What are the best online resources for learning about automated server provisioning?","u":"what-are-the-best-online-resources-for-learning-about-automated-server-provisioning","c":"General Finance Questions","s":["Uncategorised"],"p":[],"d":"2014-02-02","x":"WHT (Web Hosting Talk) - See www.webhostingtalk.com right of the bat. You will have to dig into the Datacenter \u0026amp;…"},{"t":"For developers, is Stripe a better platform than Dwolla?","u":"for-developers-is-stripe-a-better-platform-than-dwolla","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Payment Integration"],"p":[],"d":"2014-02-02","x":"Stripe is a really cool/good product, but the whole 2.9% + US$0.30 is a turn off to many. What makes PayPal look so bad?…"},{"t":"What essential things should everyone understand about Bitcoin?","u":"what-essential-things-should-everyone-understand-about-bitcoin","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin","Canada"],"d":"2014-01-12","x":"There literally so many point. Everyone (who is curious about Bitcoin) knows about the limited circulation, and that its…"},{"t":"What is the reaction to JP Morgan Chase’s patented Bitcoin-like rival system?","u":"what-is-the-reaction-to-jp-morgan-chases-patented-bitcoin-like-rival-system","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Blockchain Technology"],"p":["Bitcoin","United States"],"d":"2014-01-12","x":"The technology bit is not much of a differentiator. I\u0026#39;d tend to side with Dolf Diederichsen . It will come down to…"},{"t":"How exactly are market forces reflected and calculated in an exchange’s order book?","u":"how-exactly-are-market-forces-reflected-and-calculated-in-an-exchanges-order-book","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Exchanges","Crypto Trading"],"p":["Bitcoin"],"d":"2014-01-12","x":"From the Order Book. Buyers and Sellers both post (or shout as Joseph Wang said) the price they are willing to Buy (or…"},{"t":"Digital Currency: What features of Bitcoin lead to its large price swings?","u":"digital-currency-what-features-of-bitcoin-lead-to-its-large-price-swings","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Speculation","Crypto Trading"],"p":["Bitcoin"],"d":"2014-01-12","x":"Speculative trade and reaction to anything that the media publishes regarding Bitcoins and the world of Banking \u0026amp;…"},{"t":"What global payment option (other than PayPal) can reliably pay freelancers worldwide with a minimum payout of $100?","u":"what-global-payment-option-other-than-paypal-can-reliably-pay-freelancers-worldwide-with-a-minimum-p","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Freelancer Payments","Online Payment Platforms"],"p":["Bangladesh","Kenya"],"d":"2014-01-11","x":"Short answer: There are none. Even on global mass payouts, you incur significant per transaction charge for a push of an…"},{"t":"What is a good solution for U.S. startups that need to provide direct account credit to users in Asian countries?","u":"what-is-a-good-solution-for-us-startups-that-need-to-provide-direct-account-credit-to-users-in-asian","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-01-11","x":"In order to do this, your best bet is to get in touch with the Banks in each country (you will have to research a bit)…"},{"t":"Who are the best experts for learning about Bitcoin—what it is, how it works, and why people use it—and how can we learn from them efficiently?","u":"who-are-the-best-experts-for-learning-about-bitcoinwhat-it-is-how-it-works-and-why-people-use-itand","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2014-01-11","x":"Jon Matonis writes a lot about Bitcoin . He is also on the Board Member for Bitcoin Foundation , a body that specialises…"},{"t":"Which online payment gateways allow sending money, not just receiving it?","u":"which-online-payment-gateways-allow-sending-money-not-just-receiving-it","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments"],"p":[],"d":"2014-01-10","x":"Unless I am reading your questions totally wrong, what you are trying to do, can be done with any payment gateway. What…"},{"t":"Why aren’t banks typically opened or operated inside shopping malls?","u":"why-arent-banks-typically-opened-or-operated-inside-shopping-malls","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Business Insights"],"p":[],"d":"2014-01-10","x":"There are many reasons behind this, having recently consulted on a project that was very similar the rationale was as…"},{"t":"Is it secure to allow a UAE hotel to charge my credit card for visa-processing fees?","u":"is-it-secure-to-allow-a-uae-hotel-to-charge-my-credit-card-for-visa-processing-fees","c":"Fraud and Scams","s":["Fraud Risk Management","Fraud Prevention"],"p":["EMEA","Gulf Cooperation Council"],"d":"2014-01-10","x":"Is it is safe. Jumeirah is a well-known and respected hotel/resort ground in the Middle East, you ought not to have any…"},{"t":"In what ways are the insurance industry and banking sector connected?","u":"in-what-ways-are-the-insurance-industry-and-banking-sector-connected","c":"Insurance and Risk Management","s":["Insurance Industry"],"p":[],"d":"2014-01-10","x":"Insurance, like banking is all about risk management and the premium applied for managing that risk. The field of…"},{"t":"How can you move your money when relocating to another country?","u":"how-can-you-move-your-money-when-relocating-to-another-country","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2014-01-10","x":"Transferring money out of a country can be done both via legal channels and illegal channel. I will only describe the…"},{"t":"What is the largest wire transfer ever recorded?","u":"what-is-the-largest-wire-transfer-ever-recorded","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Large International Transfers"],"p":["Zimbabwe"],"d":"2014-01-10","x":"Society for Worldwide Interbank Financial Telecommunication (SWIFT) which does majority of the world\u0026#39;s cross-border wire…"},{"t":"What is the highest amount of money a person can deposit into a bank account?","u":"what-is-the-highest-amount-of-money-a-person-can-deposit-into-a-bank-account","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2014-01-10","x":"As much money that is in circulation (this can be both physical notes/coins and other bearer/non-bearer financial…"},{"t":"Why does sending money from a U.S. bank to a European bank take so long?","u":"why-does-sending-money-from-a-us-bank-to-a-european-bank-take-so-long","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Developed Markets","EMEA"],"d":"2014-01-10","x":"You have the archaic US banking system to partially blame for this, along with the complexity of an international…"},{"t":"If someone has over $100,000 in undeclared cash stored in a safe deposit box in China, how could they move it out of the country without problems?","u":"if-someone-has-over-100000-in-undeclared-cash-stored-in-a-safe-deposit-box-in-china-how-could-they-m","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Underground Banking","Shadow Finance"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-01-10","x":"You don\u0026#39;t physically have to transfer the bills out. Barring buying any form of a paper instrument like a Bond (which is…"},{"t":"What are the best ways to transfer money from an INR account to a USD account when the account holder now lives in the U.S.?","u":"what-are-the-best-ways-to-transfer-money-from-an-inr-account-to-a-usd-account-when-the-account-holde","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["India","Indian Rupee"],"d":"2014-01-10","x":"The person who owns the account can write to the bank and ask what would be a most acceptable method for the bank.…"},{"t":"How could organizations like Facebook benefit from partnering with Ripple?","u":"how-could-organizations-like-facebook-benefit-from-partnering-with-ripple","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Blockchain Technology"],"p":[],"d":"2014-01-09","x":"For Facebook, Ripple can only serve as the underlying payment protocol and general ledger system. Implementing Ripple on…"},{"t":"Is there a tipping point for Bitcoin adoption, and what might trigger it?","u":"is-there-a-tipping-point-for-bitcoin-adoption-and-what-might-trigger-it","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2014-01-09","x":"In my opinion it woild have to be Bitcoins + Paypal. The ability to use the Paypal ecosystem and accept / trade Bitcoins…"},{"t":"How can I establish a merchant account with Bank of America for online payment processing?","u":"how-can-i-establish-a-merchant-account-with-bank-of-america-for-online-payment-processing","c":"Merchant Accounts, Processors and Gateways","s":["Merchant Accounts","Payment Processors"],"p":[],"d":"2014-01-08","x":"Well if you get a merchant services account from BoA, it comes with all the instructions on how to go about setting it…"},{"t":"What is the importance of the PayPal–Discover agreement?","u":"what-is-the-importance-of-the-paypaldiscover-agreement","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Discover"],"p":[],"d":"2014-01-08","x":"Instant access to market/merchants. No organic growth. One other benefit that PayPal can have, is a payment network to…"},{"t":"Is there an online payment model that allows multiple purchasers to contribute toward a single item for someone?","u":"is-there-an-online-payment-model-that-allows-multiple-purchasers-to-contribute-toward-a-single-item","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments"],"p":[],"d":"2014-01-08","x":"Not that I know of for traditional payment providers. Divided payments are not allowed as per the acquiring bank and the…"},{"t":"How can I structure a Letter of Credit (or similar instrument) so my bank only pays the exporter after the goods are inspected?","u":"how-can-i-structure-a-letter-of-credit-or-similar-instrument-so-my-bank-only-pays-the-exporter-after","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Letters of Credit","Cross-Border B2B Payments"],"p":[],"d":"2014-01-08","x":"You can opt for pre-shipment inspection. I don\u0026#39;t think you will find much luck with buyers and banks who will work on…"},{"t":"What is the likely future of Bitcoin? Will it become mainstream or lose momentum, and why?","u":"what-is-the-likely-future-of-bitcoin-will-it-become-mainstream-or-lose-momentum-and-why","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin"],"p":["Bitcoin","India"],"d":"2014-01-08","x":"No one knows for sure (with any degree of certainty). Having said that, most agree the future is bright. That statement…"},{"t":"What is a reliable online bank in the U.S. that also works well internationally, aside from HSBC?","u":"what-is-a-reliable-online-bank-in-the-us-that-also-works-well-internationally-aside-from-hsbc","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Online Banking","Expat Banking"],"p":["Americas","Developed Markets"],"d":"2014-01-08","x":"What is a reliable online bank in the U.S. that also works well internationally, aside from HSBC?"},{"t":"What should a foreign student prepare before opening a U.S. bank account?","u":"what-should-a-foreign-student-prepare-before-opening-a-us-bank-account","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["United States"],"d":"2014-01-08","x":"You do not need to prepare anything. Opening a bank account in the US is a very simple procedure (even if you are a…"},{"t":"Which faster payment infrastructure did U.K. banks adopt to enable instant transactions?","u":"which-faster-payment-infrastructure-did-uk-banks-adopt-to-enable-instant-transactions","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Faster Payments (UK)","Payment Infrastructure"],"p":["Developed Markets","EMEA"],"d":"2014-01-07","x":"FasterPayments happened in the UK - See: http://www.fasterpayments.org.uk/ I would like to credit Ben Brown who told me…"},{"t":"Will Pakistan always remain in its current state, or can things significantly improve?","u":"will-pakistan-always-remain-in-its-current-state-or-can-things-significantly-improve","c":"Payments (General)","s":["Payment System Modernization"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2014-01-07","x":"Nope. We are planning to improve it. Work in progress."},{"t":"What factors influence how long a Bitcoin transaction takes to be confirmed?","u":"what-factors-influence-how-long-a-bitcoin-transaction-takes-to-be-confirmed","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Blockchain Technology"],"p":["Bitcoin"],"d":"2014-01-07","x":"The ledger updates every 10 minutes. Typically vendors or transactors will wait for 5-6 ledger confirmations before…"},{"t":"Money Transfers: How does the MoneyGram network operate?","u":"money-transfers-how-does-the-moneygram-network-operate","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Legacy MTOs"],"p":[],"d":"2014-01-07","x":"Simply go to MoneyGram International website and scroll down, there is a link called Become an Agent - click on it and…"},{"t":"How can I create a points-based purchasing system for my e-commerce platform?","u":"how-can-i-create-a-points-based-purchasing-system-for-my-e-commerce-platform","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Platform Payments"],"p":[],"d":"2014-01-06","x":"The feature you are requesting is simply known as a \u0026#34;Credits based Shopping Cart\u0026#34;. Such a system mimics what Facebook,…"},{"t":"How can I cash a Wells Fargo check from the U.S. while I’m in Russia?","u":"how-can-i-cash-a-wells-fargo-check-from-the-us-while-im-in-russia","c":"Sending and Receiving Money Abroad","s":["Bank Deposit Payouts","Receiving Money from Abroad (Consumer)"],"p":["Russia","United States"],"d":"2014-01-05","x":"If you have a US Dollar account, simply deposit the cheque, it would then go for onward clearing to Wells-Fargo (which…"},{"t":"How should I invest or allocate $15,000 that I will not need for several years?","u":"how-should-i-invest-or-allocate-15000-that-i-will-not-need-for-several-years","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Securities","Stock Markets"],"p":[],"d":"2014-01-04","x":"Depends how well-versed you are with foreign (emerging markets), you can buy into mutual funds or buy the 100 Index of…"},{"t":"What types of front businesses are commonly used for money laundering?","u":"what-types-of-front-businesses-are-commonly-used-for-money-laundering","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":[],"d":"2014-01-04","x":"There isn\u0026#39;t any common business per se for money laundering. It depends what sort of laundry you are trying to do. If…"},{"t":"Can I request my bank to reverse an ACH debit from a merchant who failed to provide the service?","u":"can-i-request-my-bank-to-reverse-an-ach-debit-from-a-merchant-who-failed-to-provide-the-service","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2014-01-04","x":"My understanding is No . You can request reversal of the transaction if you dispute the authorisation. Since an ACH…"},{"t":"Why don’t most countries offer real-time bank transfer processing?","u":"why-dont-most-countries-offer-real-time-bank-transfer-processing","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Real-Time Payments","Payment Infrastructure"],"p":["Germany"],"d":"2014-01-04","x":"Most countries have IBFT (Interbank Funds Transfer) switches set up, so the settlement is almost real-time or same day.…"},{"t":"What occurs if a homeowner has the funds to repay a mortgage but refuses to pay the bank, insisting on paying only the entity from which the bank borrowed the money? I’ve heard of a legal tactic some homeowners use to avoid repayment—how does this work?","u":"what-occurs-if-a-homeowner-has-the-funds-to-repay-a-mortgage-but-refuses-to-pay-the-bank-insisting-o","c":"Lending, Credit Scores and BNPL","s":["Mortgages","Real Estate Finance"],"p":[],"d":"2014-01-04","x":"Not sure who told you this, but even int he court of law if you go in for a dispute, the cost of funds to the borrowing…"},{"t":"I operate a legitimate social private lottery and want to shift it online. How can I accept payments from other countries?","u":"i-operate-a-legitimate-social-private-lottery-and-want-to-shift-it-online-how-can-i-accept-payments","c":"High-Risk Industries","s":["Gambling Payments","High-Risk Industry Banking"],"p":["Europe"],"d":"2014-01-04","x":"Very few processors will allow you to process transactions (via Credit/Debit card) that are for Lotteries or similar…"},{"t":"Which companies rank as the biggest payment gateways worldwide?","u":"which-companies-rank-as-the-biggest-payment-gateways-worldwide","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2014-01-04","x":"Very difficult to answer, however, FDI (First Data), HSBC Merchant Services, Citibank Merchant Services are ones that…"},{"t":"Why aren’t real-time bank-transfer payments available within most countries?","u":"why-arent-real-time-bank-transfer-payments-available-within-most-countries","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Real-Time Payments","Payment Infrastructure"],"p":["Germany"],"d":"2014-01-04","x":"Most countries have IBFT (Interbank Funds Transfer) switches set up, so the settlement is almost real-time or same day.…"},{"t":"If a homeowner can pay their mortgage but refuses to pay the bank—and insists on paying only the bank’s funding source—what happens legally and in practice?","u":"if-a-homeowner-can-pay-their-mortgage-but-refuses-to-pay-the-bankand-insists-on-paying-only-the-bank","c":"Lending, Credit Scores and BNPL","s":["Mortgages","Real Estate Finance"],"p":[],"d":"2014-01-04","x":"Not sure who told you this, but even int he court of law if you go in for a dispute, the cost of funds to the borrowing…"},{"t":"I run a legal, socially-driven private lottery and want to move it online—how can I accept international payments?","u":"i-run-a-legal-socially-driven-private-lottery-and-want-to-move-it-onlinehow-can-i-accept-internation","c":"High-Risk Industries","s":["Gambling Payments","High-Risk Industry Banking"],"p":["Europe"],"d":"2014-01-04","x":"Very few processors will allow you to process transactions (via Credit/Debit card) that are for Lotteries or similar…"},{"t":"Which payment gateways are the largest globally?","u":"which-payment-gateways-are-the-largest-globally","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2014-01-04","x":"Very difficult to answer, however, FDI (First Data), HSBC Merchant Services, Citibank Merchant Services are ones that…"},{"t":"Do European banks provide real-time, instant money transfers?","u":"do-european-banks-provide-real-time-instant-money-transfers","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Developed Markets","EMEA"],"d":"2014-01-03","x":"No SEPA is not a real-time settlement. It usually takes 2 banking days for SEPA transfers to go through."},{"t":"How will RBI’s new debit and credit card regulations impact users?","u":"how-will-rbis-new-debit-and-credit-card-regulations-impact-users","c":"Credit, Debit and Prepaid Cards","s":["Card Security","Credit Cards"],"p":["India","Reserve Bank of India"],"d":"2014-01-03","x":"I don\u0026#39;t think the reaction would be as severe as being cited by the media. If you read the ruling, a lot of it makes…"},{"t":"If banks can verify routing instantly, why is a 7-day hold required for checks over $5k?","u":"if-banks-can-verify-routing-instantly-why-is-a-7-day-hold-required-for-checks-over-5k","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Checks and Cheques","Payment Clearing"],"p":[],"d":"2014-01-02","x":"This is because your bank is processing this via ACH most likely. Typically most ACH will show/post returns on the 4th…"},{"t":"Can non-U.S. citizens open a bank account before obtaining an SSN?","u":"can-non-us-citizens-open-a-bank-account-before-obtaining-an-ssn","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["United States"],"d":"2014-01-02","x":"A Non-US Citizen can indeed open a Bank Account in the US, without necessarily having a US Social Security Number. You…"},{"t":"Is the traditional Swiss banking model falling apart?","u":"is-the-traditional-swiss-banking-model-falling-apart","c":"Wealth Management, Private Banking and Family Offices","s":["Wealth Management"],"p":["DACH (Germany, Austria, Switzerland)","Offshore Financial Centers"],"d":"2014-01-02","x":"Certainly heading towards a redefinition (collapse would be too harsh a word yet). It is becoming inherently more and…"},{"t":"How can Dwolla persuade banks when banks earn more revenue from debit card transactions?","u":"how-can-dwolla-persuade-banks-when-banks-earn-more-revenue-from-debit-card-transactions","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Account-to-Account Payments"],"p":[],"d":"2014-01-02","x":"Dwolla doesn\u0026#39;t have to convince them, they are essentially plugging into the ACH - which all banks subscribe…"},{"t":"What happens if you deposit or cash a check that includes a fraction of a cent?","u":"what-happens-if-you-deposit-or-cash-a-check-that-includes-a-fraction-of-a-cent","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2014-01-02","x":"Most banks today would not accept cheques beyond the defined two decimals digits, neither do the core banking softwares…"},{"t":"For how long must U.S. banks retain a customer’s account records in case they are needed for legal matters?","u":"for-how-long-must-us-banks-retain-a-customers-account-records-in-case-they-are-needed-for-legal-matt","c":"How Banks Work","s":["Banks","Bank Records"],"p":["United States"],"d":"2014-01-02","x":"5 Years at the very minimum. This is mandated by the Bank Secrecy Act Manual - Particular reference is:…"},{"t":"What is the most logical or reasonable fee model for payment processing?","u":"what-is-the-most-logical-or-reasonable-fee-model-for-payment-processing","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":["United States"],"d":"2014-01-02","x":"The banking / financial system in play today, is an old system that is based on Interest. Lending money has always based…"},{"t":"How do I cash a cheque that is older than six months?","u":"how-do-i-cash-a-cheque-that-is-older-than-six-months","c":"Payments (General)","s":["Payment Products","Payment Basics"],"p":[],"d":"2014-01-02","x":"You cannot redeem it. The cheque as a executed financial instrumented has a shelf-life of 180 days from the date on the…"},{"t":"What kind of security or protection does a crossed cheque (check) provide?","u":"what-kind-of-security-or-protection-does-a-crossed-cheque-check-provide","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":[],"d":"2014-01-02","x":"The protection a crossed-cheque offers is that if stolen etc. it cannot be cashed at the bank, only deposited in the…"},{"t":"Is traditional Swiss banking in decline?","u":"is-traditional-swiss-banking-in-decline","c":"Wealth Management, Private Banking and Family Offices","s":["Wealth Management"],"p":["DACH (Germany, Austria, Switzerland)","Europe"],"d":"2014-01-02","x":"Certainly heading towards a redefinition (collapse would be too harsh a word yet). It is becoming inherently more and…"},{"t":"How could Dwolla persuade banks when debit card transactions are more profitable for them?","u":"how-could-dwolla-persuade-banks-when-debit-card-transactions-are-more-profitable-for-them","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Account-to-Account Payments"],"p":[],"d":"2014-01-02","x":"Dwolla doesn\u0026#39;t have to convince them, they are essentially plugging into the ACH - which all banks subscribe…"},{"t":"What happens if a check includes a fractional cent amount?","u":"what-happens-if-a-check-includes-a-fractional-cent-amount","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":[],"d":"2014-01-02","x":"Most banks today would not accept cheques beyond the defined two decimals digits, neither do the core banking softwares…"},{"t":"How long are US banks required to retain customer account history for legal purposes?","u":"how-long-are-us-banks-required-to-retain-customer-account-history-for-legal-purposes","c":"AML Programs, KYC and Compliance Operations","s":["Record Retention","Record Keeping"],"p":["Americas","Developed Markets"],"d":"2014-01-02","x":"5 Years at the very minimum. This is mandated by the Bank Secrecy Act Manual - Particular reference is:…"},{"t":"What is the most reasonable and fair fee structure for payment processing?","u":"what-is-the-most-reasonable-and-fair-fee-structure-for-payment-processing","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":["United States"],"d":"2014-01-02","x":"The banking / financial system in play today, is an old system that is based on Interest. Lending money has always based…"},{"t":"How can a cheque older than six months be redeemed?","u":"how-can-a-cheque-older-than-six-months-be-redeemed","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":[],"d":"2014-01-02","x":"You cannot redeem it. The cheque as a executed financial instrumented has a shelf-life of 180 days from the date on the…"},{"t":"What protection does a crossed cheque provide?","u":"what-protection-does-a-crossed-cheque-provide","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":[],"d":"2014-01-02","x":"The protection a crossed-cheque offers is that if stolen etc. it cannot be cashed at the bank, only deposited in the…"},{"t":"How do currency note-counting machines function?","u":"how-do-currency-note-counting-machines-function","c":"Payments (General)","s":["Cash Handling","Cash"],"p":[],"d":"2014-01-01","x":"It uses a mechanical sifter to lift the notes (with a rubber lifter) and push it forward. This lifting and pushing…"},{"t":"Are U.S. financial institutions restricted to issuing only stored-value cards?","u":"are-us-financial-institutions-restricted-to-issuing-only-stored-value-cards","c":"US Money Transmitter Licensing and MSB Registration","s":["Prepaid Access","US Licensing"],"p":["Americas","Developed Markets"],"d":"2014-01-01","x":"Yes. For Store-valued cards, you have to be licensed in order to do so. That\u0026#39;s a MSB license that is required."},{"t":"What is the easiest method for making international money transfers?","u":"what-is-the-easiest-method-for-making-international-money-transfers","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2013-12-12","x":"The most easiest and cheapest way would most likely be sending the money via your Bank to your friend\u0026#39;s Bank, via a Wire…"},{"t":"Do card networks like Mastercard, Visa, and AmEx provide anonymized transaction data via public APIs?","u":"do-card-networks-like-mastercard-visa-and-amex-provide-anonymized-transaction-data-via-public-apis","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Mastercard"],"p":[],"d":"2013-12-12","x":"No, they do not, and neither do any of the the participating (member) Banks."},{"t":"What’s an effective way to build relationships with industry analysts and the investment banking community?","u":"whats-an-effective-way-to-build-relationships-with-industry-analysts-and-the-investment-banking-comm","c":"Careers, Jobs and Working in Finance","s":["People in Finance","Careers in Banking"],"p":[],"d":"2013-12-12","x":"In addition to the great suggestions, LinkedIn is a great resource to get connected. If you have a common connection,…"},{"t":"Can I open a U.S. bank account if I am about to relocate there for work?","u":"can-i-open-a-us-bank-account-if-i-am-about-to-relocate-there-for-work","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["Americas","Developed Markets"],"d":"2013-12-12","x":"No. A physical presence at the Bank is required. You could possibly fill out all the paperwork before (not that there is…"},{"t":"What real, practical advantages does Bitcoin offer over traditional payment methods?","u":"what-real-practical-advantages-does-bitcoin-offer-over-traditional-payment-methods","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Remittances"],"p":["Bangladesh","Bitcoin"],"d":"2013-12-12","x":"There are many areas where Bitcoin excels and outperforms traditional payment methods. First and foremost, literally…"},{"t":"How can I move money instantly from one U.S. bank to another U.S. bank?","u":"how-can-i-move-money-instantly-from-one-us-bank-to-another-us-bank","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Instant Payments","Account-to-Account Payments"],"p":["Americas","Developed Markets"],"d":"2013-12-12","x":"In the US, real-time (instantaneous) settlement of funds, for account to account transfers is not available for Inter…"},{"t":"What might happen to Bitcoin if its creator’s identity were definitively revealed?","u":"what-might-happen-to-bitcoin-if-its-creators-identity-were-definitively-revealed","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulatory Enforcement"],"p":["Bitcoin","United States"],"d":"2013-12-10","x":"He will be a Hero to many, and for some, a Villain. He would be hounded for interviews, paparazzi would go gaga over…"},{"t":"How can I receive payments from PayPal users if PayPal doesn’t allow incoming transfers in my country?","u":"how-can-i-receive-payments-from-paypal-users-if-paypal-doesnt-allow-incoming-transfers-in-my-country","c":"Sending and Receiving Money Abroad","s":["PayPal","Money Transfer"],"p":[],"d":"2013-12-07","x":"Honestly, if you don\u0026#39;t have a PayPal receive in your country, chances are legally you just cannot accept that payment.…"},{"t":"Is it possible to initiate an ACH pull from a PayPal balance the same way you can pull funds from a bank account?","u":"is-it-possible-to-initiate-an-ach-pull-from-a-paypal-balance-the-same-way-you-can-pull-funds-from-a","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2013-12-06","x":"Nope. Paypal account is not a bank account but rather a Nostro account held by Paypal with their participating banks.…"},{"t":"Is it feasible to arbitrage Bitcoin prices between different exchanges given the large spreads?","u":"is-it-feasible-to-arbitrage-bitcoin-prices-between-different-exchanges-given-the-large-spreads","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Arbitrage","Crypto Exchanges"],"p":["Bitcoin"],"d":"2013-12-06","x":"For someone who tried to be clear and tried it. I got some Bitcoin into BTC-e (shipped money to BTC-e, and got charged…"},{"t":"Back when Bitcoin was cheap and easy to mine, where could I have learned about it—and where can I learn about the next big thing before it goes mainstream?","u":"back-when-bitcoin-was-cheap-and-easy-to-mine-where-could-i-have-learned-about-itand-where-can-i-lear","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Learning Resources"],"p":["Bitcoin"],"d":"2013-12-05","x":"Honestly, (Reddit) the front page of the internet - if you were to actively read it and skip the Funny Pics, etc. you…"},{"t":"Why did the Chinese restrictions on Bitcoin cause such a sharp price crash?","u":"why-did-the-chinese-restrictions-on-bitcoin-cause-such-a-sharp-price-crash","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Trading","Crypto Market Structure"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-12-05","x":"Couple of points: China accounts for nearly a 1/3rd of all Bitcoin trades, just today\u0026#39;s transaction volumes will show…"},{"t":"Are Bitcoins truly as unstable as the media portrays them?","u":"are-bitcoins-truly-as-unstable-as-the-media-portrays-them","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin","United States Dollar"],"d":"2013-12-05","x":"Think of the US Dollar newly minted for the very 1st time today. Think that there will only be 21 Million US Dollars…"},{"t":"What determines how long it takes for a Bitcoin transaction to receive confirmations?","u":"what-determines-how-long-it-takes-for-a-bitcoin-transaction-to-receive-confirmations","c":"Blockchain and Distributed Ledger Technology","s":["Blockchain","Blockchain Technology"],"p":["Bitcoin"],"d":"2013-12-05","x":"See below for explanation: Confirmation After a transaction is broadcast to the Bitcoin network, it may be included in a…"},{"t":"Is it too early to predict whether PayPal or Western Union will adopt Bitcoin, and could market liquidity and speculation close the BTC–fiat loop for them?","u":"is-it-too-early-to-predict-whether-paypal-or-western-union-will-adopt-bitcoin-and-could-market-liqui","c":"Crypto Payments, On-Ramps and Off-Ramps","s":["Crypto Payments","Crypto Payment Processors"],"p":["Bitcoin"],"d":"2013-12-05","x":"Western Union would certainly be threatened by Bitcoin\u0026#39;s near instant settlement, irrevocable transaction and a network…"},{"t":"Are banks that offer online banking services required to use two-factor authentication?","u":"are-banks-that-offer-online-banking-services-required-to-use-two-factor-authentication","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Multi-Factor Authentication (MFA)"],"p":["Pakistan"],"d":"2013-12-02","x":"This depends from country to country and regulator to regulator. In Pakistan for example, 2FA is now a requirement for…"},{"t":"Why did the U.S. Federal Reserve speak positively about Bitcoin and digital currencies when they might threaten traditional banking?","u":"why-did-the-us-federal-reserve-speak-positively-about-bitcoin-and-digital-currencies-when-they-might","c":"Regulators, Enforcement and Regulatory Change","s":["US Crypto Regulation","Federal Reserve"],"p":["Belgium","Bitcoin"],"d":"2013-12-02","x":"Because overall, the currency holds promise and is not a threat to the banking industry in any shape/form, in fact it is…"},{"t":"Besides Bitcoin, which digital currency should someone consider buying, and what’s the reasoning?","u":"besides-bitcoin-which-digital-currency-should-someone-consider-buying-and-whats-the-reasoning","c":"Bitcoin and Cryptocurrency Basics","s":["Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2013-12-02","x":"Besides Bitcoin, which digital currency should someone consider buying, and what’s the reasoning?"},{"t":"Would a payments company benefit from maintaining checking accounts at multiple banks?","u":"would-a-payments-company-benefit-from-maintaining-checking-accounts-at-multiple-banks","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Fintech Banking Relationships","Banking Access"],"p":[],"d":"2013-12-02","x":"For instant funds settlement using their own money, opening an account with each bank will do the trick, fast! That is…"},{"t":"Which traditional banking services can digital currencies like Bitcoin potentially replace?","u":"which-traditional-banking-services-can-digital-currencies-like-bitcoin-potentially-replace","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Bitcoin"],"d":"2013-12-02","x":"Cross-Border Money Transfers (aka Remittances)."},{"t":"Who actually profits from the Bitcoin ecosystem?","u":"who-actually-profits-from-the-bitcoin-ecosystem","c":"Crypto Exchanges, Trading and Markets","s":["Crypto Speculation","Crypto Trading"],"p":["Bitcoin"],"d":"2013-12-01","x":"A whole lot of people. All the early-day miners and investors have gotten rich. We are seeing stories of how people…"},{"t":"Why does banking have far stricter regulation compared to other industries?","u":"why-does-banking-have-far-stricter-regulation-compared-to-other-industries","c":"Central Banks and Bank Supervision","s":["Bank Supervision","Banking Economics"],"p":[],"d":"2013-11-12","x":"Presumably, because all of us (most if not all) work for money, and as money is the key denominator for our struggles…"},{"t":"Online Payments: If a company is exempt from MSB status, could it still need money-transmitter licenses in certain states?","u":"online-payments-if-a-company-is-exempt-from-msb-status-could-it-still-need-money-transmitter-license","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":[],"d":"2013-11-10","x":"Possible? Yes, each State has its own definition and as per that definition, the DFI may require you to register within…"},{"t":"Can a sender choose their own correspondent bank when initiating a SWIFT transfer?","u":"can-a-sender-choose-their-own-correspondent-bank-when-initiating-a-swift-transfer","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Correspondent Banking Relationships","Correspondent Tie-Ups"],"p":["Asia-Pacific (APAC)","Australia"],"d":"2013-11-06","x":"Well, the correspondent bank is a banking relationship your bank sets for you. There are many ways to bring money to…"},{"t":"Considering the shifts in the online payments sector, what technology investments should a nonprofit evaluate to benefit from them?","u":"considering-the-shifts-in-the-online-payments-sector-what-technology-investments-should-a-nonprofit","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2013-11-03","x":"I\u0026#39;m not sure if this would answer your question with respect to donor management or account, but as a Non-Profit…"},{"t":"What technology investments should nonprofits consider given changes in online payments?","u":"what-technology-investments-should-nonprofits-consider-given-changes-in-online-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2013-11-03","x":"I\u0026#39;m not sure if this would answer your question with respect to donor management or account, but as a Non-Profit…"},{"t":"Did Square ever acquire the Square.com domain?","u":"did-square-ever-acquire-the-squarecom-domain","c":"Starting and Running a Fintech or Payments Business","s":["Fintech Mergers and Acquisitions"],"p":["Japan"],"d":"2013-11-01","x":"Look more like a lease than a buy-out. The domain is redirecting to Squareup.com The WHOIS on square.com is still some…"},{"t":"Which PayPal alternatives are available for personal payments in the U.S.?","u":"which-paypal-alternatives-are-available-for-personal-payments-in-the-us","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Digital Wallets"],"p":["Americas","Developed Markets"],"d":"2013-11-01","x":"Venmo ( www.venmo.com ) and Dwolla ( www.dwolla.com ) seem to be gaining traction and they can be used for personal…"},{"t":"What’s the best payment system for international transactions?","u":"whats-the-best-payment-system-for-international-transactions","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2013-11-01","x":"Although various payment systems will process oversea card payments, one the best experience I have had in this regard…"},{"t":"What PayPal alternatives exist for personal peer-to-peer payments in the US?","u":"what-paypal-alternatives-exist-for-personal-peer-to-peer-payments-in-the-us","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Digital Wallets"],"p":["Americas","Developed Markets"],"d":"2013-11-01","x":"Venmo ( www.venmo.com ) and Dwolla ( www.dwolla.com ) seem to be gaining traction and they can be used for personal…"},{"t":"What is the most suitable payment system for handling international transactions?","u":"what-is-the-most-suitable-payment-system-for-handling-international-transactions","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2013-11-01","x":"Although various payment systems will process oversea card payments, one the best experience I have had in this regard…"},{"t":"What value does the International Payments Framework Association aim to add when SWIFT already handles cross-border payments effectively?","u":"what-value-does-the-international-payments-framework-association-aim-to-add-when-swift-already-handl","c":"Payments (General)","s":["Payment Methods","SWIFT Alternatives"],"p":[],"d":"2013-10-12","x":"IPFA is a review body, they do not compete with Society for Worldwide Interbank Financial Telecommunication (SWIFT) .…"},{"t":"Which countries still rely heavily on cash-on-delivery for e-commerce?","u":"which-countries-still-rely-heavily-on-cash-on-delivery-for-e-commerce","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Alternative Payment Methods"],"p":["Asia","Bangladesh"],"d":"2013-10-12","x":"India, Pakistan, Bangladesh, Nepal, Sri Lanka, Maldives, Afghanistan, Indonesia, Philippines (to a larger extent),…"},{"t":"Have banks ever been looted or seized during wars or periods of unrest?","u":"have-banks-ever-been-looted-or-seized-during-wars-or-periods-of-unrest","c":"History of Money, Banking and Finance","s":["Financial History","History of Banking"],"p":["Balkans","Iraq"],"d":"2013-10-11","x":"War is a force majeure event. All normal activities and norms are usually thrown out the window. If rioting and looting…"},{"t":"As an Australian living in Australia, how can I open a U.S. bank account without traveling there, or open any other international account?","u":"as-an-australian-living-in-australia-how-can-i-open-a-us-bank-account-without-traveling-there-or-ope","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Americas","Australia"],"d":"2013-10-11","x":"You cannot. The new US (KYC) rules forbid anyone from opening an account in the US until and unless you are not…"},{"t":"Fraud: How do fake check scams typically operate?","u":"fraud-how-do-fake-check-scams-typically-operate","c":"Fraud and Scams","s":["Check Fraud","Payment Fraud"],"p":[],"d":"2013-10-08","x":"It is quite difficult these days to counterfeit cheques in general, but nonetheless it is done. What scammers do mostly…"},{"t":"Why do shopkeepers in some countries accept only flawless, untorn U.S. banknotes?","u":"why-do-shopkeepers-in-some-countries-accept-only-flawless-untorn-us-banknotes","c":"Payments (General)","s":["Cash","Cash Handling"],"p":["United States Dollar"],"d":"2013-10-07","x":"Rips are understandable, but folds I have never heard of. Old, worn out notes with/without rips are avoided as the bank…"},{"t":"What risks or downsides exist when marketplaces like Etsy process payments on behalf of users?","u":"what-risks-or-downsides-exist-when-marketplaces-like-etsy-process-payments-on-behalf-of-users","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Marketplace Payments"],"p":[],"d":"2013-10-06","x":"Chargebacks: The more merchants you sign-up and the more chargebacks you have, the more hassle it is to sort them out,…"},{"t":"What is the historical origin of the dollar symbol ($)?","u":"what-is-the-historical-origin-of-the-dollar-symbol","c":"History of Money, Banking and Finance","s":["Financial History","History of Money"],"p":["United States","United States Dollar"],"d":"2013-10-06","x":"The Dollar sign first shows up in some very early American and Spanish business correspondence (around the 1770s). The…"},{"t":"What risks or downsides come with marketplace platforms (like Etsy) processing payments on behalf of sellers?","u":"what-risks-or-downsides-come-with-marketplace-platforms-like-etsy-processing-payments-on-behalf-of-s","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Platform Payments"],"p":[],"d":"2013-10-06","x":"Chargebacks: The more merchants you sign-up and the more chargebacks you have, the more hassle it is to sort them out,…"},{"t":"What is the origin of the dollar sign ($)?","u":"what-is-the-origin-of-the-dollar-sign","c":"History of Money, Banking and Finance","s":["Financial History","History of Money"],"p":["United States","United States Dollar"],"d":"2013-10-06","x":"The Dollar sign first shows up in some very early American and Spanish business correspondence (around the 1770s). The…"},{"t":"Why pick Authorize.net, Braintree, or Intuit instead of PayPal?","u":"why-pick-authorizenet-braintree-or-intuit-instead-of-paypal","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2013-10-01","x":"For starters, many chose Braintree, et. al. over PayPal simply because of customer service. The ability of being able to…"},{"t":"What precautions should you take when building your first billing and payment system?","u":"what-precautions-should-you-take-when-building-your-first-billing-and-payment-system","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2013-10-01","x":"Your framework / process-flow needs to be really well though out. One of the biggest delays on a payment software…"},{"t":"Why might a business choose Authorize.net, Braintree, or Intuit instead of PayPal?","u":"why-might-a-business-choose-authorizenet-braintree-or-intuit-instead-of-paypal","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":[],"d":"2013-10-01","x":"For starters, many chose Braintree, et. al. over PayPal simply because of customer service. The ability of being able to…"},{"t":"What precautions should be taken when building a billing and payment system for the first time?","u":"what-precautions-should-be-taken-when-building-a-billing-and-payment-system-for-the-first-time","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2013-10-01","x":"Your framework / process-flow needs to be really well though out. One of the biggest delays on a payment software…"},{"t":"What aspects of Gmail do users find most frustrating?","u":"what-aspects-of-gmail-do-users-find-most-frustrating","c":"Payments (General)","s":["TIPS"],"p":[],"d":"2013-09-11","x":"Folders The concept of not having folders. Everything we do on our computer is folder based, but not with Gmail. They…"},{"t":"Are platforms such as Airbnb and Eventbrite considered Payment Service Providers (PSPs)?","u":"are-platforms-such-as-airbnb-and-eventbrite-considered-payment-service-providers-psps","c":"Merchant Accounts, Processors and Gateways","s":["Payment Service Providers (PSP)","Payment Processors"],"p":[],"d":"2013-09-11","x":"It is my understanding that they are not. From what little I know about these companies, they presumably use a licensed…"},{"t":"What does it cost to implement a CAPTCHA solution on an e-commerce site?","u":"what-does-it-cost-to-implement-a-captcha-solution-on-an-e-commerce-site","c":"Cybersecurity, Digital Identity and Authentication","s":["Cybersecurity","Data Security"],"p":[],"d":"2013-09-11","x":"It doesn\u0026#39;t cost much at all. Its just a de facto implementation that everyone now follows just to make sure that…"},{"t":"What is the most effective way to transfer over $10,000 from the U.S. to Singapore while getting a better exchange rate?","u":"what-is-the-most-effective-way-to-transfer-over-10000-from-the-us-to-singapore-while-getting-a-bette","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Large International Transfers"],"p":["Singapore","Singapore Dollar"],"d":"2013-09-11","x":"You can transfer money from Singapore to US, via Wire Transfer, or even via Western Union/Money Gram (albeit the latter…"},{"t":"Which country makes it easiest for a foreigner to establish a bank?","u":"which-country-makes-it-easiest-for-a-foreigner-to-establish-a-bank","c":"Licensing in Other Countries","s":["Licensing Comparison by Country","Offshore Licensing Jurisdictions"],"p":["Malta"],"d":"2013-09-11","x":"Malta . Of research done for a client (apologies cannot share figures), Malta is your answer. Cheapest, Quickest,…"},{"t":"What would occur if mortgages were suddenly banned?","u":"what-would-occur-if-mortgages-were-suddenly-banned","c":"Lending, Credit Scores and BNPL","s":["Mortgages","Real Estate Finance"],"p":[],"d":"2013-09-11","x":"In addition to the answers by Denis, owning a house would be inherently very pricey."},{"t":"Online Payments: What are the main success factors in the remittance industry?","u":"online-payments-what-are-the-main-success-factors-in-the-remittance-industry","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Digital MTOs"],"p":[],"d":"2013-09-11","x":"Quite a few factors will continue success of remittances... here are some of them that are in the public domain (and in…"},{"t":"What important factors should I consider before purchasing a Wi-Fi repeater?","u":"what-important-factors-should-i-consider-before-purchasing-a-wi-fi-repeater","c":"Payments (General)","s":["TIPS"],"p":[],"d":"2013-09-09","x":"There are a couple of things you should be aware of, not all of these points may be applicable to you in your current…"},{"t":"What are some of the world’s most widely respected or admired symbols?","u":"what-are-some-of-the-worlds-most-widely-respected-or-admired-symbols","c":"Payments (General)","s":["TIPS"],"p":[],"d":"2013-09-08","x":"The Hindu Swastika: Wiki: http://en.wikipedia.org/wiki/Swa... The Peace Symbol: Wiki:…"},{"t":"Which logos are among the oldest still in existence globally?","u":"which-logos-are-among-the-oldest-still-in-existence-globally","c":"General Finance Questions","s":["General","Uncategorised"],"p":[],"d":"2013-09-08","x":"The Hindu Swastika dates back to the Indus Valley Civilization period (~ 3300BC). Source:…"},{"t":"If I borrow one kilogram of gold, what determines the legal exchange rate at which I must settle the repayment?","u":"if-i-borrow-one-kilogram-of-gold-what-determines-the-legal-exchange-rate-at-which-i-must-settle-the","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Commodities","Derivatives"],"p":[],"d":"2013-09-08","x":"With the price of Gold moving up or down (in the foreseeable year), an astute lender would quote you the money based on…"},{"t":"Do money-transmission laws apply to gift-giving businesses that distribute cash gifts?","u":"do-money-transmission-laws-apply-to-gift-giving-businesses-that-distribute-cash-gifts","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":["Americas","Developed Markets"],"d":"2013-09-08","x":"In my opinion, for the US, yes, this would come under the umbrella of Store-Value cards, with a redeemable Cash element,…"},{"t":"Which white-label providers are best for handling international, multi-currency payment processing?","u":"which-white-label-providers-are-best-for-handling-international-multi-currency-payment-processing","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2013-09-08","x":"Quite a few companies do this. Almost all F/X Brokers now offer this service. One company that recently entered into…"},{"t":"Is Square likely to expand into online payment processing?","u":"is-square-likely-to-expand-into-online-payment-processing","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2013-09-08","x":"Is Square likely to expand into online payment processing?"},{"t":"Credit Card Processing: What steps are required to become a new payment type—similar to Visa, Mastercard, Discover, or Amex—and handle routing of authorizations to issuing banks?","u":"credit-card-processing-what-steps-are-required-to-become-a-new-payment-typesimilar-to-visa-mastercar","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Card Authorization"],"p":[],"d":"2013-09-06","x":"To keep the answer simplified... To become a payment type, and assuming you have launched your own swipe card for this…"},{"t":"If a US-based company offers a web-based software application in Pakistan, what legal rights or requirements apply before entering the market?","u":"if-a-us-based-company-offers-a-web-based-software-application-in-pakistan-what-legal-rights-or-requi","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Law","Regulatory Counsel"],"p":["Asia","Indian Subcontinent"],"d":"2013-09-06","x":"No, not unless they are physically registered in Pakistan as a business entity (with SECP) and/or they are processing…"},{"t":"If someone wanted to create a new payment type like Visa/Mastercard/AmEx/Discover, what would actually be required?","u":"if-someone-wanted-to-create-a-new-payment-type-like-visamastercardamexdiscover-what-would-actually-b","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Domestic Card Schemes"],"p":[],"d":"2013-09-06","x":"To keep the answer simplified... To become a payment type, and assuming you have launched your own swipe card for this…"},{"t":"How do remittances from the Middle East to India affect the rupee’s value?","u":"how-do-remittances-from-the-middle-east-to-india-affect-the-rupees-value","c":"Economics, Inflation and Monetary Policy","s":["Currency","Macroeconomics"],"p":["Asia","India"],"d":"2013-09-05","x":"Well for starters there is seemingly more bang for the buck when a Rupee is devalued. However, having said that, the…"},{"t":"Why doesn’t the hawala system collapse, and why do participants generally not cheat?","u":"why-doesnt-the-hawala-system-collapse-and-why-do-participants-generally-not-cheat","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Hawala","Informal Remittance Channels"],"p":[],"d":"2013-09-05","x":"The traditional concept of Hawala was based on trust, and still is. Today, Hawala comes in many different forms, but the…"},{"t":"Why is there no PayPal-like peer-to-peer money-transfer system in India?","u":"why-is-there-no-paypal-like-peer-to-peer-money-transfer-system-in-india","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":["Asia","India"],"d":"2013-09-05","x":"Nothing prevents one from coming up. I\u0026#39;m sure 100s if not 1000s have pondered if it is indeed time for India to have its…"},{"t":"What are the main steps required to establish a payment processing company?","u":"what-are-the-main-steps-required-to-establish-a-payment-processing-company","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensing Strategy","Licensable Activities"],"p":[],"d":"2013-09-03","x":"John Tullis provides a very knowledgable answer. I would like to add to this by saying that in order to become a payment…"},{"t":"Online Payment Gateways and Processing: How easy or hard would it be to steal swiped data from Square or the new PayPal Here devices?","u":"online-payment-gateways-and-processing-how-easy-or-hard-would-it-be-to-steal-swiped-data-from-square","c":"Cybersecurity, Digital Identity and Authentication","s":["Cybersecurity","Data Security"],"p":[],"d":"2013-09-03","x":"Get a clone reader (Quote a few available in the market). Make a fake application. Swipe data. Store! Provide Network…"},{"t":"What are the core steps involved in becoming a payment processing company?","u":"what-are-the-core-steps-involved-in-becoming-a-payment-processing-company","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensing Strategy","Licensable Activities"],"p":[],"d":"2013-09-03","x":"John Tullis provides a very knowledgable answer. I would like to add to this by saying that in order to become a payment…"},{"t":"How difficult would it be to skim card data from Square or PayPal Here devices?","u":"how-difficult-would-it-be-to-skim-card-data-from-square-or-paypal-here-devices","c":"Cybersecurity, Digital Identity and Authentication","s":["Data Security","Cybersecurity"],"p":[],"d":"2013-09-03","x":"Get a clone reader (Quote a few available in the market). Make a fake application. Swipe data. Store! Provide Network…"},{"t":"What specific function do companies like Visa and MasterCard serve in enabling electronic fund transfers?","u":"what-specific-function-do-companies-like-visa-and-mastercard-serve-in-enabling-electronic-fund-trans","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Visa"],"p":[],"d":"2013-09-02","x":"My understanding is that VISA and Mastercard don\u0026#39;t actually do the funds transferring etc. (in the strictest of sense),…"},{"t":"What precisely occurs during a wire transfer? How does the money move from the sender’s bank account to the recipient’s? How long does each stage take? What regulatory controls, if any, govern the process?","u":"what-precisely-occurs-during-a-wire-transfer-how-does-the-money-move-from-the-senders-bank-account-t","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Pakistan","United States"],"d":"2013-09-02","x":"Wire Transfers between two banks is essentially not too complex. To understand the whole concept of wire transfer, you…"},{"t":"What’s the best way to transfer money from the U.S. to Pakistan?","u":"whats-the-best-way-to-transfer-money-from-the-us-to-pakistan","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Pakistan","Pakistani Rupee"],"d":"2013-09-02","x":"Wire transfers typically take 2-3 business days to execute and settle, and in some cases can be done in one day as well.…"},{"t":"What role do Visa and MasterCard play in electronic funds transfers?","u":"what-role-do-visa-and-mastercard-play-in-electronic-funds-transfers","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Visa"],"p":[],"d":"2013-09-02","x":"My understanding is that VISA and Mastercard don\u0026#39;t actually do the funds transferring etc. (in the strictest of sense),…"},{"t":"What exactly happens during a wire transfer and how does money move step by step between banks?","u":"what-exactly-happens-during-a-wire-transfer-and-how-does-money-move-step-by-step-between-banks","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Banking Relationships"],"p":["Florida","Pakistan"],"d":"2013-09-02","x":"Wire Transfers between two banks is essentially not too complex. To understand the whole concept of wire transfer, you…"},{"t":"What are the available ways to transfer money from the US to Pakistan?","u":"what-are-the-available-ways-to-transfer-money-from-the-us-to-pakistan","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Pakistan","Pakistani Rupee"],"d":"2013-09-02","x":"Wire transfers typically take 2-3 business days to execute and settle, and in some cases can be done in one day as well.…"},{"t":"How hard is it to disrupt the electronic payments space?","u":"how-hard-is-it-to-disrupt-the-electronic-payments-space","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Insights","Industry Strategy"],"p":["China","United States"],"d":"2013-08-12","x":"Let me answer on a global scale first. Since the possibility exists for disruption - the probability of it happening is…"},{"t":"What is one company that gave you great value while costing you very little?","u":"what-is-one-company-that-gave-you-great-value-while-costing-you-very-little","c":"General Finance Questions","s":["General","Uncategorised"],"p":[],"d":"2013-08-12","x":"Facebook For allowing me to connect seamlessly with all my friends (read: long lost friends) and family. It has allowed…"},{"t":"Will the $100M MoneyGram penalty encourage the payments industry to treat AML compliance more seriously?","u":"will-the-100m-moneygram-penalty-encourage-the-payments-industry-to-treat-aml-compliance-more-serious","c":"Regulators, Enforcement and Regulatory Change","s":["Regulatory Enforcement","Regulatory Penalties"],"p":["Americas","Developed Markets"],"d":"2013-08-11","x":"This is certainly not a one-off thing. The US is taking AML and KYC issues to a new level, which essentially means, be…"},{"t":"How does an app enable transfers between two different bank accounts?","u":"how-does-an-app-enable-transfers-between-two-different-bank-accounts","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","ACH"],"p":["Americas","Developed Markets"],"d":"2013-08-11","x":"Depends where in the world you are based. Assuming you are in the US, then the most common way is to use an ACH (ACH)…"},{"t":"How much of the internet still relies on pre-2000 legacy code, infrastructure, or hardware?","u":"how-much-of-the-internet-still-relies-on-pre-2000-legacy-code-infrastructure-or-hardware","c":"Banking and Payments Technology Stack","s":["System Integration"],"p":[],"d":"2013-08-10","x":"From a hardware/firmware perspective, the question can be answered two fold: Internet Service Providers / Telco / Data…"},{"t":"What services or APIs enable users to send each other payments (bank/ACH) on my website?","u":"what-services-or-apis-enable-users-to-send-each-other-payments-bankach-on-my-website","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Payment Integration"],"p":[],"d":"2013-08-10","x":"Though this may not be what you are looking at, you could look at Bancbox (Seehttp:// www.bancbox.com/ ). You can…"},{"t":"Is there a company that can handle credit card processing for my Africa-based startup?","u":"is-there-a-company-that-can-handle-credit-card-processing-for-my-africa-based-startup","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Card Payments"],"p":["Africa","Emerging Markets"],"d":"2013-08-10","x":"How about looking for some online payment providers in Africa itself (it would be easier to qualify there). If you must…"},{"t":"If online banking is widespread, why do checks still take a day to clear?","u":"if-online-banking-is-widespread-why-do-checks-still-take-a-day-to-clear","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Checks and Cheques","Payment Clearing"],"p":[],"d":"2013-08-10","x":"There can be very many reasons for this, some of them are: Check truncation (physical to digital) takes time to process…"},{"t":"What would happen if every bank in the world were replaced by a single institution requiring handwritten signatures and banning online banking?","u":"what-would-happen-if-every-bank-in-the-world-were-replaced-by-a-single-institution-requiring-handwri","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2013-08-10","x":"Since such a singularity is not likely to happen. No one knows for sure. Would there be a universal currency all around…"},{"t":"Online Payments: What are the biggest hurdles in getting approved for a merchant account?","u":"online-payments-what-are-the-biggest-hurdles-in-getting-approved-for-a-merchant-account","c":"Merchant Accounts, Processors and Gateways","s":["Merchant Accounts","Payment Processors"],"p":[],"d":"2013-08-08","x":"The main difficulties are in understanding your risk exposure that the bank subjects itself to, i.e. the underwriting…"},{"t":"Are there Payment Service Providers in India, and what is required to become one?","u":"are-there-payment-service-providers-in-india-and-what-is-required-to-become-one","c":"Merchant Accounts, Processors and Gateways","s":["Payment Service Providers (PSP)","Payment Processors"],"p":["Asia","India"],"d":"2013-08-08","x":"There are quite a few online processors in India: http://www.direcpay.com/ http://www.ebs.in/ https://www.zaakpay.com/…"},{"t":"Which online payment solution is suitable for collecting personal-fundraiser donations in Singapore while remaining legally compliant?","u":"which-online-payment-solution-is-suitable-for-collecting-personal-fundraiser-donations-in-singapore","c":"Alternative Finance and Crowdfunding","s":["Crowdfunding"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-08-07","x":"You might want to contact WorldPay, they are legally covered in Singapore. http://www.worldpay.com/index.ph..."},{"t":"What is considered the most complex machine humanity has ever created?","u":"what-is-considered-the-most-complex-machine-humanity-has-ever-created","c":"Payments (General)","s":["TIPS"],"p":[],"d":"2013-08-06","x":"For me, it would be the Large Hadron Collider It is the most expensive and complex scientific machine ever built. The…"},{"t":"Which technology is likely to dominate mobile payments: digital wallets, NFC, or mobile card readers like Square?","u":"which-technology-is-likely-to-dominate-mobile-payments-digital-wallets-nfc-or-mobile-card-readers-li","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":["Kenya"],"d":"2013-08-05","x":"I personally don\u0026#39;t think a particular mobile solution would win or lose, its all about traction. With the sheer number…"},{"t":"What is the best method for attracting a 10x engineer to an early-stage startup?","u":"what-is-the-best-method-for-attracting-a-10x-engineer-to-an-early-stage-startup","c":"Careers, Jobs and Working in Finance","s":["Hiring","Employment"],"p":[],"d":"2013-08-05","x":"A Quora badge (kinda like the ones you get on FourSquare), only this badge could be put in your LinkedIn or resume or on…"},{"t":"Which approach is most likely to win in mobile payments: digital wallets, NFC, or mobile card readers (like Square)?","u":"which-approach-is-most-likely-to-win-in-mobile-payments-digital-wallets-nfc-or-mobile-card-readers-l","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":["Kenya"],"d":"2013-08-05","x":"I personally don\u0026#39;t think a particular mobile solution would win or lose, its all about traction. With the sheer number…"},{"t":"What are the pathways to becoming a front-end card processor?","u":"what-are-the-pathways-to-becoming-a-front-end-card-processor","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2013-08-04","x":"To become a front-end processor one of the foremost prerequisites is to have domain knowledge about the field, which you…"},{"t":"What is a good payment gateway option for a donate-to-invest type platform?","u":"what-is-a-good-payment-gateway-option-for-a-donate-to-invest-type-platform","c":"Merchant Accounts, Processors and Gateways","s":["Payment Service Providers (PSP)","Payment Processors"],"p":[],"d":"2013-08-02","x":"The issue with your model is not so much as a payment processor who will process your payments, but your business model.…"},{"t":"Foreign Exchange: How does peerTransfer generate revenue?","u":"foreign-exchange-how-does-peertransfer-generate-revenue","c":"FX Rates, Spreads and Currency Markets","s":["Foreign Exchange (FX)","Currency Exchange"],"p":["United States"],"d":"2013-08-01","x":"Like any other business that deals with FX, they make their money on FX as well as float. Their prime business is to do…"},{"t":"Which ACH providers allow international merchants to participate?","u":"which-ach-providers-allow-international-merchants-to-participate","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2013-08-01","x":"If by your question you are asking if any ACH processor will sign on a business that is not based in the US, for…"},{"t":"What risks come with using mobile point-of-sale systems?","u":"what-risks-come-with-using-mobile-point-of-sale-systems","c":"Merchant Accounts, Processors and Gateways","s":["Point of Sale (POS)","POS Terminals"],"p":["Asia","MENA (Middle East and North Africa)"],"d":"2013-07-12","x":"As User-10406423438134497550 cited, fake swiping or skimming is the largest threat in mobile POS payments (in South…"},{"t":"Do most banks build their own core banking and CRM systems, or do they buy them?","u":"do-most-banks-build-their-own-core-banking-and-crm-systems-or-do-they-buy-them","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2013-07-12","x":"Most banks will purchase their Core Banking softwares and CRMs, and then massively customise and integrate for their…"},{"t":"How much does an ATM machine typically weigh?","u":"how-much-does-an-atm-machine-typically-weigh","c":"Payments (General)","s":["ATMs","Payment Products"],"p":[],"d":"2013-07-12","x":"Usually between 900-1200lbs (for ATMs and not just a cash dispenser)."},{"t":"I’m looking for innovative payments companies—what are they and what do they offer?","u":"im-looking-for-innovative-payments-companieswhat-are-they-and-what-do-they-offer","c":"Payments (General)","s":["Payment Industry Overview","Payment Products"],"p":[],"d":"2013-07-12","x":"You might want to start reading Online Payments Market Guide 2012 , its a good resource on the companies in the payment…"},{"t":"How do digital-goods merchants fight fraud and chargebacks?","u":"how-do-digital-goods-merchants-fight-fraud-and-chargebacks","c":"Fraud and Scams","s":["Fraud Prevention","Payment Fraud"],"p":["Bitcoin"],"d":"2013-07-12","x":"This is a toughie. It all depends on what sort of digital goods are being sold. If it is something like a SaaS service,…"},{"t":"How can I build a two-factor authentication payment gateway that complies with RBI rules?","u":"how-can-i-build-a-two-factor-authentication-payment-gateway-that-complies-with-rbi-rules","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Multi-Factor Authentication (MFA)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-07-12","x":"You associate two-factor authentication by using the mobile phone and associating that to the card. The one-time token…"},{"t":"What are the initial steps required to start a business in the United States?","u":"what-are-the-initial-steps-required-to-start-a-business-in-the-united-states","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Company Formation","Law"],"p":["Americas","Developed Markets"],"d":"2013-07-11","x":"Incorporation . LLC or Inc? Partners? Shares? Equity? Partnership agreement? etc. Then, looking at your Legal ,…"},{"t":"How much does a successful day trader typically earn?","u":"how-much-does-a-successful-day-trader-typically-earn","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Securities","Stock Markets"],"p":["British Pound Sterling","Gold"],"d":"2013-07-11","x":"As a full-time day trader for about a year and a half, trading in commodities like Sugar and metals like Gold and…"},{"t":"What is the cheapest way to process online micropayments?","u":"what-is-the-cheapest-way-to-process-online-micropayments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":[],"d":"2013-07-10","x":"Ripple is an alternative you should look at. Its a P2P payment network and would allow you to do small transactions…"},{"t":"CurrencyFair earns from fast liquidity and beating interbank rates—what does that actually imply?","u":"currencyfair-earns-from-fast-liquidity-and-beating-interbank-rateswhat-does-that-actually-imply","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Foreign Exchange (FX)"],"p":[],"d":"2013-07-10","x":"It means their marketplace have enough active participants to be able to do order-matching, and the rates are set by the…"},{"t":"How much does it cost to build your own payment gateway?","u":"how-much-does-it-cost-to-build-your-own-payment-gateway","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":[],"d":"2013-07-10","x":"Costing-wise it is difficult to put a number to it. The costs can vary from country to country (depending on where your…"},{"t":"Is it easy to build a payment gateway from scratch?","u":"is-it-easy-to-build-a-payment-gateway-from-scratch","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2013-07-10","x":"Making a payment gateway from scratch is not an easy job by any means. If you merely want to have a gateway engine (one…"},{"t":"Which country first introduced paper money?","u":"which-country-first-introduced-paper-money","c":"History of Money, Banking and Finance","s":["Origins of Paper Money","History of Money"],"p":["China"],"d":"2013-07-10","x":"The first country to print paper money was China . Paper currency was a natural progression of things to come, because…"},{"t":"Which country was the first to introduce paper money?","u":"which-country-was-the-first-to-introduce-paper-money","c":"History of Money, Banking and Finance","s":["Origins of Paper Money","History of Money"],"p":["China"],"d":"2013-07-10","x":"The first country to print paper money was China . Paper currency was a natural progression of things to come, because…"},{"t":"What cause of death scares you the most, and why?","u":"what-cause-of-death-scares-you-the-most-and-why","c":"Payments (General)","s":["TIPS"],"p":[],"d":"2013-07-09","x":"Any form of slow death! Honestly, when I have to go, please let it be quick."},{"t":"Does using dual monitors boost productivity or cause more distractions?","u":"does-using-dual-monitors-boost-productivity-or-cause-more-distractions","c":"General Finance Questions","s":["Productivity","General"],"p":[],"d":"2013-07-08","x":"Dual monitors in all honesty let you segregate work based on priority. Stuff you take more seriously would be on one…"},{"t":"What are the key responsibilities of a CEO?","u":"what-are-the-key-responsibilities-of-a-ceo","c":"Careers, Jobs and Working in Finance","s":["Jobs","Employment"],"p":[],"d":"2013-07-08","x":"An alternative definition on the role of a CEO (as explained to me in a nutshell in a management class): Walk-in to…"},{"t":"Why do businesses prefer iPads and iPhones over Android devices for retail and event-based payment processing?","u":"why-do-businesses-prefer-ipads-and-iphones-over-android-devices-for-retail-and-event-based-payment-p","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":[],"d":"2013-07-07","x":"From an outside the US perspective: Innovation on the mobile sector is predominantly attributed to the iPhone/iPad…"},{"t":"Which company or API can assist with enabling ACH deposits into mutual funds?","u":"which-company-or-api-can-assist-with-enabling-ach-deposits-into-mutual-funds","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2013-07-06","x":"To the best of my knowledge, Mutual Funds are not issued with Routing Number (ABA), and hence you cannot use ACH for…"},{"t":"Which company or API can facilitate ACH deposits into mutual funds?","u":"which-company-or-api-can-facilitate-ach-deposits-into-mutual-funds","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2013-07-06","x":"To the best of my knowledge, Mutual Funds are not issued with Routing Number (ABA), and hence you cannot use ACH for…"},{"t":"Would it be logical for Apple to buy Dwolla as a way to enter mobile payments?","u":"would-it-be-logical-for-apple-to-buy-dwolla-as-a-way-to-enter-mobile-payments","c":"Starting and Running a Fintech or Payments Business","s":["Fintech Mergers and Acquisitions","Payments Business Models"],"p":[],"d":"2013-07-05","x":"No . It would not make sense. Dwolla doesn\u0026#39;thave anything close to the kind of traction Apple can generate for its own…"},{"t":"How can someone handle online payments for high-value products?","u":"how-can-someone-handle-online-payments-for-high-value-products","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Merchant Accounts"],"p":["United States Dollar"],"d":"2013-07-05","x":"Without having any a priori information about the specific business your friend is in, a few casual observations: Very…"},{"t":"What are the best resources for understanding the global payments industry landscape?","u":"what-are-the-best-resources-for-understanding-the-global-payments-industry-landscape","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Learning Resources","Content"],"p":[],"d":"2013-07-05","x":"A good source to get started would be the Bank of International Settlements (Basel, Switzerland), See http://www.bis.org…"},{"t":"What business models and technologies support free online money transfer services for individuals, and why aren’t these services available worldwide?","u":"what-business-models-and-technologies-support-free-online-money-transfer-services-for-individuals-an","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2013-07-05","x":"Internal money transfers are just database movements, not much to it, but when you look at it from an angle of…"},{"t":"Was Facebook’s May 2012 IPO regarded as a success or a failure?","u":"was-facebooks-may-2012-ipo-regarded-as-a-success-or-a-failure","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Stock Markets","Equities"],"p":[],"d":"2013-07-05","x":"Too early to tell.... give it a few months. Judge a book by its cover.... judge a company by its first day of trade!"},{"t":"How do I send money from my U.S. bank account to another person’s bank account overseas?","u":"how-do-i-send-money-from-my-us-bank-account-to-another-persons-bank-account-overseas","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Australia","Australian Dollar"],"d":"2013-07-05","x":"Wire Transfer. Ask the beneficiary to obtain the \u0026#39;wire transfer instructions\u0026#39; from their bank. If the bank in Australia…"},{"t":"How can a startup in the U.S. accept credit card payments without a Social Security number or credit history?","u":"how-can-a-startup-in-the-us-accept-credit-card-payments-without-a-social-security-number-or-credit-h","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":["Americas","Developed Markets"],"d":"2013-07-05","x":"Search for 3rd party payment providers (3PP), they would be able to provide you with merchant processing without the…"},{"t":"Subscription Services: If an online business accepted credit cards without requiring security data, would the extra sales outweigh the potential losses?","u":"subscription-services-if-an-online-business-accepted-credit-cards-without-requiring-security-data-wo","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Online Checkout"],"p":[],"d":"2013-07-05","x":"Not really. It is highly dependent on the vertical you are in and what you are selling. The onus of fraud and…"},{"t":"What was the first currency in history to use the term “dollar”?","u":"what-was-the-first-currency-in-history-to-use-the-term-dollar","c":"History of Money, Banking and Finance","s":["History of Money","Financial History"],"p":["Central Europe","Czech Republic"],"d":"2013-07-05","x":"European, near the Czech Republic. From Thalers to Dollars The history of the dollar is a story involving many countries…"},{"t":"Would it make sense for Apple to acquire Dwolla as a way into mobile payments?","u":"would-it-make-sense-for-apple-to-acquire-dwolla-as-a-way-into-mobile-payments","c":"Starting and Running a Fintech or Payments Business","s":["Fintech Mergers and Acquisitions","Payments Business Models"],"p":[],"d":"2013-07-05","x":"No . It would not make sense. Dwolla doesn\u0026#39;thave anything close to the kind of traction Apple can generate for its own…"},{"t":"How can you process online payments for high-ticket items?","u":"how-can-you-process-online-payments-for-high-ticket-items","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Merchant Accounts"],"p":["United States Dollar"],"d":"2013-07-05","x":"Without having any a priori information about the specific business your friend is in, a few casual observations: Very…"},{"t":"What are the best sources to learn how the international payments industry works?","u":"what-are-the-best-sources-to-learn-how-the-international-payments-industry-works","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Learning Resources","Guides"],"p":[],"d":"2013-07-05","x":"A good source to get started would be the Bank of International Settlements (Basel, Switzerland), See http://www.bis.org…"},{"t":"How can I transfer money from my US bank account to someone else’s bank account in another country?","u":"how-can-i-transfer-money-from-my-us-bank-account-to-someone-elses-bank-account-in-another-country","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Australia","Australian Dollar"],"d":"2013-07-05","x":"Wire Transfer. Ask the beneficiary to obtain the \u0026#39;wire transfer instructions\u0026#39; from their bank. If the bank in Australia…"},{"t":"How can a startup accept credit cards in the US without an SSN or credit history?","u":"how-can-a-startup-accept-credit-cards-in-the-us-without-an-ssn-or-credit-history","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":["Americas","Developed Markets"],"d":"2013-07-05","x":"Search for 3rd party payment providers (3PP), they would be able to provide you with merchant processing without the…"},{"t":"If an online business accepted credit cards without collecting security information, would increased sales outweigh the added fraud losses?","u":"if-an-online-business-accepted-credit-cards-without-collecting-security-information-would-increased","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Online Checkout"],"p":[],"d":"2013-07-05","x":"Not really. It is highly dependent on the vertical you are in and what you are selling. The onus of fraud and…"},{"t":"Why doesn’t AdSense support EFT payments in many countries?","u":"why-doesnt-adsense-support-eft-payments-in-many-countries","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":[],"d":"2013-07-04","x":"For Google to do EFT in each country, they would need to have a Nostro account arrangement in each country. They would…"},{"t":"Has anyone used or reviewed the remittnet.cu.cc money-transfer site?","u":"has-anyone-used-or-reviewed-the-remittnetcucc-money-transfer-site","c":"Fraud and Scams","s":["Scam Awareness","Fraud Risk Management"],"p":[],"d":"2013-07-03","x":"When in doubt, don\u0026#39;t! We keep a pretty well-researched database of all the MTOs, Money Service Businesses worldwide,…"},{"t":"Which payment gateway would you suggest? I am looking for the easiest payment-acceptance option.","u":"which-payment-gateway-would-you-suggest-i-am-looking-for-the-easiest-payment-acceptance-option","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2013-07-03","x":"Very difficult to answer, just straight-off. First it depends which part of the world you are in. Secondly, what type of…"},{"t":"Which payment gateway offers the simplest setup for accepting payments?","u":"which-payment-gateway-offers-the-simplest-setup-for-accepting-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["United States"],"d":"2013-07-03","x":"Very difficult to answer, just straight-off. First it depends which part of the world you are in. Secondly, what type of…"},{"t":"What direction is the Indian rupee likely to take from here?","u":"what-direction-is-the-indian-rupee-likely-to-take-from-here","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Exchange Rates"],"p":["India","Indian Rupee"],"d":"2013-07-02","x":"Hard to say, but most of what I am reading/hearing is that it will probably stabilise at the Rs. 63/64 range. Some are…"},{"t":"How can web apps prevent fraudsters from abusing ACH to steal from compromised bank accounts?","u":"how-can-web-apps-prevent-fraudsters-from-abusing-ach-to-steal-from-compromised-bank-accounts","c":"Cybersecurity, Digital Identity and Authentication","s":["Cybersecurity","Authentication"],"p":[],"d":"2013-07-02","x":"Two Factor Authentication using the mobile phone. The phone is the same phone that is registered with the genuine…"},{"t":"How does PayPal verify customer accounts, including DOB, name, address, and SSN?","u":"how-does-paypal-verify-customer-accounts-including-dob-name-address-and-ssn","c":"AML Programs, KYC and Compliance Operations","s":["Identity Verification (IDV)","Customer Onboarding"],"p":[],"d":"2013-07-02","x":"Pretty simple: DOB via SSN They will do a small value deposit into your back account (using your credit card). You will…"},{"t":"Which U.S. banks offer free incoming international wires and have their own SWIFT code?","u":"which-us-banks-offer-free-incoming-international-wires-and-have-their-own-swift-code","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Americas","Developed Markets"],"d":"2013-07-02","x":"So lets clear a couple of things: Most US Banks (barring some small Community) banks, have their own SWIFT code. Think…"},{"t":"What’s an inexpensive way to place funds in escrow for an online purchase?","u":"whats-an-inexpensive-way-to-place-funds-in-escrow-for-an-online-purchase","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Platform Payments"],"p":["United States Dollar"],"d":"2013-07-02","x":"Your bank will put a hold on your check only if you tell it so, however, if the cheque was made as a payment beforehand,…"},{"t":"Which payment service is best for $0.99 website transactions?","u":"which-payment-service-is-best-for-099-website-transactions","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["United States","United States Dollar"],"d":"2013-07-02","x":"Try to see if Dwolla would work for you? (See www.Dwolla.com ). Transactions under US$ 10 are free. Since you are…"},{"t":"Are there US banks that offer free incoming international wires and maintain their own SWIFT codes?","u":"are-there-us-banks-that-offer-free-incoming-international-wires-and-maintain-their-own-swift-codes","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Americas","Developed Markets"],"d":"2013-07-02","x":"So lets clear a couple of things: Most US Banks (barring some small Community) banks, have their own SWIFT code. Think…"},{"t":"What is an inexpensive way to place funds into escrow for an online transaction?","u":"what-is-an-inexpensive-way-to-place-funds-into-escrow-for-an-online-transaction","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Platform Payments"],"p":["United States Dollar"],"d":"2013-07-02","x":"Your bank will put a hold on your check only if you tell it so, however, if the cheque was made as a payment beforehand,…"},{"t":"Which payment service is best for charging small amounts like $0.99 per transaction?","u":"which-payment-service-is-best-for-charging-small-amounts-like-099-per-transaction","c":"Merchant Accounts, Processors and Gateways","s":["Payment Service Providers (PSP)","Payment Processors"],"p":["United States","United States Dollar"],"d":"2013-07-02","x":"Try to see if Dwolla would work for you? (See www.Dwolla.com ). Transactions under US$ 10 are free. Since you are…"},{"t":"What benefits come with working as a payment consultant?","u":"what-benefits-come-with-working-as-a-payment-consultant","c":"Careers, Jobs and Working in Finance","s":["Careers in Payments","Jobs"],"p":[],"d":"2013-07-01","x":"Its very liberating to say the least. Its not easy being a payments consultant. There is tremendous amount of learning…"},{"t":"What are the laws governing hundi transactions?","u":"what-are-the-laws-governing-hundi-transactions","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Informal Value Transfer Systems (IVTS)","Informal Remittance Channels"],"p":[],"d":"2013-07-01","x":"Hundi or Hawala is essentially undocumented money transfer. What may be illegal in a given country, may be legal in…"},{"t":"Why is the RBI unable to stop the rupee from depreciating against the dollar and other currencies?","u":"why-is-the-rbi-unable-to-stop-the-rupee-from-depreciating-against-the-dollar-and-other-currencies","c":"Capital Controls, Currency Crises and Black-Market Rates","s":["Currency Devaluation","Currency Controls"],"p":["India","Indian Rupee"],"d":"2013-07-01","x":"RBI most likely does not want to control the devaluation, because, It is... Much needed (considering the Oil subsidies)…"},{"t":"Foreign Exchange: When the rupee is falling, is it preferable to remit U.S. dollars or euros to India?","u":"foreign-exchange-when-the-rupee-is-falling-is-it-preferable-to-remit-us-dollars-or-euros-to-india","c":"FX Rates, Spreads and Currency Markets","s":["Foreign Exchange (FX)","Currency Exchange"],"p":["Euro","India"],"d":"2013-07-01","x":"Your best bet is to remit family maintenance money back only, and keep most of your money, in US/Europe. With an every…"},{"t":"How significantly will smartphones disrupt the electronic payment industry?","u":"how-significantly-will-smartphones-disrupt-the-electronic-payment-industry","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Insights","Industry Strategy"],"p":[],"d":"2013-06-12","x":"The short answer is: Who knows? Most likely it will be extremely difficult to disrupt the VISA / Mastercard ecosystem.…"},{"t":"Could electronic checking cause credit cards to lose market share?","u":"could-electronic-checking-cause-credit-cards-to-lose-market-share","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Visa"],"p":["Americas","Developed Markets"],"d":"2013-06-12","x":"I don\u0026#39;t think so. The credit card / debit card industry is huge. Its impact on the market with respect to its core…"},{"t":"What does the future hold for mobile payment technology?","u":"what-does-the-future-hold-for-mobile-payment-technology","c":"Emerging Markets and Financial Inclusion","s":["Emerging Market Economies","Financial Inclusion"],"p":["Asia","Emerging Markets"],"d":"2013-06-12","x":"Very Bright . The mobile phone market penetration numbers cannot be matched by any other communication or computing…"},{"t":"How can someone generate significant income working online?","u":"how-can-someone-generate-significant-income-working-online","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Earning Money Online","Income Streams"],"p":[],"d":"2013-06-12","x":"Build Value. Whatever you may do online, be it running a blog, running a forum, selling software, providing services,…"},{"t":"Which online card-processing options (besides PayPal) work for companies not registered in the U.S. or Europe?","u":"which-online-card-processing-options-besides-paypal-work-for-companies-not-registered-in-the-us-or-e","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":[],"d":"2013-06-12","x":"You might want to look into www.2checkout.com (2CO). There are so many 3rd party payment processors. You can be based…"},{"t":"What alternatives to PayPal exist for website card processing by companies outside the US and Europe?","u":"what-alternatives-to-paypal-exist-for-website-card-processing-by-companies-outside-the-us-and-europe","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":[],"d":"2013-06-12","x":"You might want to look into www.2checkout.com (2CO). There are so many 3rd party payment processors. You can be based…"},{"t":"Does offering your account-to-account price for free actually work in practice?","u":"does-offering-your-account-to-account-price-for-free-actually-work-in-practice","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":[],"d":"2013-06-11","x":"Not sure about relevancy as to where I stand with A2A, but I did make it free for a week, and it was the worst mistake…"},{"t":"Can wire transfers be reversed in cases of fraud, and what recourse does a defrauded customer have?","u":"can-wire-transfers-be-reversed-in-cases-of-fraud-and-what-recourse-does-a-defrauded-customer-have","c":"Fraud and Scams","s":["Payment Fraud","Wire Fraud"],"p":[],"d":"2013-06-11","x":"Usually No. There are exceptions when a wire transfer can be reversed, in the event of a fraud or erroneous wire…"},{"t":"What online payment solutions work best for a U.S. startup with low volume and small transactions?","u":"what-online-payment-solutions-work-best-for-a-us-startup-with-low-volume-and-small-transactions","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Webhooks and Integrations"],"p":["Americas","Developed Markets"],"d":"2013-06-11","x":"You can do this with something called the Instant Payment Notification (which is free, you just have to turn it on). See…"},{"t":"If donors send donations via PayPal, can their email addresses be automatically captured into a nonprofit’s database?","u":"if-donors-send-donations-via-paypal-can-their-email-addresses-be-automatically-captured-into-a-nonpr","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Webhooks and Integrations"],"p":[],"d":"2013-06-11","x":"You can do this with something called the Instant Payment Notification (which is free, you just have to turn it on). See…"},{"t":"How can someone pay rent using a credit card?","u":"how-can-someone-pay-rent-using-a-credit-card","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2013-06-10","x":"No. With the rent market being very competitive as it is, I doubt the owner would be willing to part with 2.5-3.5% of…"},{"t":"What payment methods are teenagers most comfortable using for web services or e-commerce?","u":"what-payment-methods-are-teenagers-most-comfortable-using-for-web-services-or-e-commerce","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":[],"d":"2013-06-10","x":"Mobile Credit, i.e. money loaded on to an eWallet on the phone. Teenagers usually do not qualify for pre-paid cards or…"},{"t":"Do banks share customer information with law-enforcement agencies such as the FBI or CIA?","u":"do-banks-share-customer-information-with-law-enforcement-agencies-such-as-the-fbi-or-cia","c":"How Banks Work","s":["Banks","Bank Records"],"p":[],"d":"2013-06-10","x":"Yes, routinely, but only under a subpoena. LEA (Law Enforcement Agencies) would need to supply a court approved subpoena…"},{"t":"What happens if I mistype a recipient’s bank account number when transferring money online?","u":"what-happens-if-i-mistype-a-recipients-bank-account-number-when-transferring-money-online","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Wire Transfers"],"p":[],"d":"2013-06-10","x":"It depends where in the world you are doing this. The transaction most likely would eventually be rejected. It might be…"},{"t":"Why are banks continuing to open new physical branches?","u":"why-are-banks-continuing-to-open-new-physical-branches","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2013-06-08","x":"Banks do not unilaterally just expand branches. It is (in every bank) a calculated investment/decision. Before a branch…"},{"t":"Why are banks opening more physical branches in the digital age?","u":"why-are-banks-opening-more-physical-branches-in-the-digital-age","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Market Entry Strategy"],"p":[],"d":"2013-06-08","x":"Banks do not unilaterally just expand branches. It is (in every bank) a calculated investment/decision. Before a branch…"},{"t":"How can someone break into the Money Service Business—especially for business payments between developed and developing nations?","u":"how-can-someone-break-into-the-money-service-businessespecially-for-business-payments-between-develo","c":"Money Transfer Business and MTOs","s":["Starting a Remittance Business","Money Transfer Operators (MTO)"],"p":["Bangladesh","Developed Markets"],"d":"2013-06-07","x":"To start a Money Transfer Business, needless to say you need to have the domain knowledge. It may seem trivial, but…"},{"t":"Economic Policy: Why might a country choose its own domestic card network instead of relying on Maestro/Mastercard or Visa?","u":"economic-policy-why-might-a-country-choose-its-own-domestic-card-network-instead-of-relying-on-maest","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Domestic Payment Schemes","Payment Infrastructure"],"p":[],"d":"2013-06-06","x":"Most countries are now supporting or leaning towards the idea of a localized payment system, one that is free from…"},{"t":"How difficult is it to enter the African money-transfer market?","u":"how-difficult-is-it-to-enter-the-african-money-transfer-market","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Starting a Remittance Business"],"p":["Africa","EMEA"],"d":"2013-06-06","x":"Africa can best be summed up by a quote from Winston Churchill: It is a riddle, wrapped in a mystery, inside an enigma;…"},{"t":"Is there any service that allows truly free international transfers, and if not, why not?","u":"is-there-any-service-that-allows-truly-free-international-transfers-and-if-not-why-not","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2013-06-06","x":"No there isn\u0026#39;t Just like moving anything in the real world costs money (think fuel, people\u0026#39;s time, etc.) moving money in…"},{"t":"What would be required to become a Payment Service Provider for the full Middle East and North Africa region?","u":"what-would-be-required-to-become-a-payment-service-provider-for-the-full-middle-east-and-north-afric","c":"Licensing in Other Countries","s":["Licensing Comparison by Country"],"p":["Africa","MENA (Middle East and North Africa)"],"d":"2013-06-06","x":"This depends on the country you choose within MEA region as your base of operation. Essentially your issue would be to…"},{"t":"Why would a country build its own card payment provider instead of using Visa/Mastercard/Maestro?","u":"why-would-a-country-build-its-own-card-payment-provider-instead-of-using-visamastercardmaestro","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Domestic Payment Schemes","Payment Infrastructure"],"p":[],"d":"2013-06-06","x":"Most countries are now supporting or leaning towards the idea of a localized payment system, one that is free from…"},{"t":"What are the main issues with the U.S. Money Service Business model?","u":"what-are-the-main-issues-with-the-us-money-service-business-model","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":["Americas","Developed Markets"],"d":"2013-06-04","x":"The core problem with the US Money Service Business (MSB) is the licensing aspect. Currently, you need to get MSB and MT…"},{"t":"What is the process for becoming a credit card processor?","u":"what-is-the-process-for-becoming-a-credit-card-processor","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2013-06-03","x":"Becoming a payment (credit card) processor is essentially to become MSP/ISO for a bank, i.e. become a reseller or sorts…"},{"t":"What steps are required to become a credit card processor?","u":"what-steps-are-required-to-become-a-credit-card-processor","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Card Payments"],"p":[],"d":"2013-06-03","x":"Becoming a payment (credit card) processor is essentially to become MSP/ISO for a bank, i.e. become a reseller or sorts…"},{"t":"What is the best travel card for an Indian student visiting the U.S. for a three-month externship?","u":"what-is-the-best-travel-card-for-an-indian-student-visiting-the-us-for-a-three-month-externship","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards","Expense Cards"],"p":["India","Indian Subcontinent"],"d":"2013-06-02","x":"Any VISA/Mastercard Debit card ought to work well for you. Banks predominantly will give you a better forex rate than…"},{"t":"Where can I find an Address Verification System (AVS) service that only verifies addresses and does not process credit cards?","u":"where-can-i-find-an-address-verification-system-avs-service-that-only-verifies-addresses-and-does-no","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Digital Identity"],"p":["European Union","Illinois"],"d":"2013-06-02","x":"AVS is a muddy domain. Only certain countries and processors can actually do a full AVS. For example if you were to try…"},{"t":"What are the ways to register a U.S. company and open a business bank account without traveling there?","u":"what-are-the-ways-to-register-a-us-company-and-open-a-business-bank-account-without-traveling-there","c":"Opening Bank Accounts, Personal and Business","s":["Business Bank Accounts","US Bank Accounts for Foreigners"],"p":["Americas","India"],"d":"2013-05-12","x":"If your ultimate goal is to be able to accept credit cards from US customers, using a US based payment processor, you…"},{"t":"How do credit-card reward point programs work economically for banks?","u":"how-do-credit-card-reward-point-programs-work-economically-for-banks","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Rewards Programs"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-05-12","x":"To answer: Yes, you can buy that item absolutely free if you have the points. In South Asia, the reason for such points…"},{"t":"How do check-cashing services confirm there’s money behind a check?","u":"how-do-check-cashing-services-confirm-theres-money-behind-a-check","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":[],"d":"2013-05-09","x":"Most will not process personal checks. They usually process payroll checks and as with business/payroll checks, they can…"},{"t":"What licenses must Indian e-commerce companies like Flipkart and Shimply hold?","u":"what-licenses-must-indian-e-commerce-companies-like-flipkart-and-shimply-hold","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Law","Regulatory Counsel"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-05-09","x":"There is no special licensing requirement per se to sell online. The same rules and taxation are applicable for online…"},{"t":"Which banks worldwide support Online Banking ePayments (OBeP)?","u":"which-banks-worldwide-support-online-banking-epayments-obep","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Account-to-Account Payments"],"p":["United States"],"d":"2013-05-09","x":"What you are asking for can be referred to in many different ways. Giro for some. EBPP (Electronic Bill Presentment \u0026amp;…"},{"t":"How do check-cashing services verify whether a check has sufficient funds?","u":"how-do-check-cashing-services-verify-whether-a-check-has-sufficient-funds","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":[],"d":"2013-05-09","x":"Most will not process personal checks. They usually process payroll checks and as with business/payroll checks, they can…"},{"t":"What licenses are required to sell goods online in India?","u":"what-licenses-are-required-to-sell-goods-online-in-india","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Law","Regulatory Counsel"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-05-09","x":"There is no special licensing requirement per se to sell online. The same rules and taxation are applicable for online…"},{"t":"Which banks globally support Online Banking ePayments or direct account debit?","u":"which-banks-globally-support-online-banking-epayments-or-direct-account-debit","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Payment Infrastructure"],"p":["United States"],"d":"2013-05-09","x":"What you are asking for can be referred to in many different ways. Giro for some. EBPP (Electronic Bill Presentment \u0026amp;…"},{"t":"What knowledge would be required to illegally siphon money from a bank?","u":"what-knowledge-would-be-required-to-illegally-siphon-money-from-a-bank","c":"Money Laundering and Financial Crime","s":["Financial Crime","Financial Crime Enforcement"],"p":[],"d":"2013-05-08","x":"So let me answer this... First and foremost, you would most likely be discovered and caught (post crime). You would need…"},{"t":"Online Payments: What is the typical chargeback rate for U.S. merchants?","u":"online-payments-what-is-the-typical-chargeback-rate-for-us-merchants","c":"Credit, Debit and Prepaid Cards","s":["Chargebacks","Card Disputes"],"p":["Americas","Developed Markets"],"d":"2013-05-07","x":"I\u0026#39;m not sure if card associations publish the kind of statistics you are seeking. Brian Roemmele would be a good bet to…"},{"t":"Is acquiring a defunct company better than starting a new one from scratch?","u":"is-acquiring-a-defunct-company-better-than-starting-a-new-one-from-scratch","c":"Starting and Running a Fintech or Payments Business","s":["Buying a Licensed Entity","Deal Structuring"],"p":["EMEA","Europe"],"d":"2013-05-07","x":"My guess is you\u0026#39;re looking at a UK based company (since you cited the words chartered accountant ). Buying shell…"},{"t":"What creative strategies can a fashion e-commerce site use to acquire customers?","u":"what-creative-strategies-can-a-fashion-e-commerce-site-use-to-acquire-customers","c":"Business Strategy, Case Studies and Lessons Learned","s":["Go-to-Market","Business Insights"],"p":[],"d":"2013-05-07","x":"Add a human-social angle to it (but this must be genuine). You can support many not-for-profit organizations, or for…"},{"t":"How can I pitch my startup idea engagingly to keep people interested?","u":"how-can-i-pitch-my-startup-idea-engagingly-to-keep-people-interested","c":"Starting and Running a Fintech or Payments Business","s":["Fundraising Strategy","Venture Capital"],"p":[],"d":"2013-05-07","x":"Guy Kawasaki had this rule for Presentations - 10-20-30 and I will address that in reverse (applicable for a Powerpoint…"},{"t":"Why do major payment processors all charge roughly the same fee (2.9% + $0.30)?","u":"why-do-major-payment-processors-all-charge-roughly-the-same-fee-29-030","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":["Americas","Developed Markets"],"d":"2013-05-05","x":"Follow the leader. Set precedence by example: i.e. PayPal. With the US being an extremely price sensitive market,…"},{"t":"Are clearinghouses required to register with FinCEN?","u":"are-clearinghouses-required-to-register-with-fincen","c":"US Money Transmitter Licensing and MSB Registration","s":["FinCEN Registration","MSB Registration (US)"],"p":[],"d":"2013-05-05","x":"For Equities (as a clearing house) no, for Debt clearinghouse (yes) and even more so for a foreign market (double yes)."},{"t":"Do FinCEN regulations apply internationally?","u":"do-fincen-regulations-apply-internationally","c":"US Money Transmitter Licensing and MSB Registration","s":["FinCEN Registration","Money Services Business (MSB)"],"p":["United States"],"d":"2013-05-05","x":"In a limited capacity, it does. For example if you are in the MSB business (outside the US) and are working with a US…"},{"t":"Online Payments: How can I create a Dwolla-style payment service in another country?","u":"online-payments-how-can-i-create-a-dwolla-style-payment-service-in-another-country","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":[],"d":"2013-05-05","x":"The first place to start is with your country\u0026#39;s Financial Regulator. Research, read-up and inquire, what are the rules…"},{"t":"Do any U.S. banks allow foreign citizens to open savings or checking accounts remotely from abroad?","u":"do-any-us-banks-allow-foreign-citizens-to-open-savings-or-checking-accounts-remotely-from-abroad","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["United States"],"d":"2013-05-04","x":"No. Not possible any longer. The new KYC rules require that the person opening a bank account in the US (be it a…"},{"t":"How risky is online banking, and what measures can reduce those risks?","u":"how-risky-is-online-banking-and-what-measures-can-reduce-those-risks","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Cybersecurity"],"p":[],"d":"2013-05-04","x":"Its risky for sure in the absence of an external 2FA (Two Factor Authentication). With an external 2FA attached to your…"},{"t":"What requirements must be met to establish a new bank?","u":"what-requirements-must-be-met-to-establish-a-new-bank","c":"Central Banks and Bank Supervision","s":["New Banking Licenses","Bank Charters"],"p":[],"d":"2013-05-04","x":"It varies from country to country, but the process remains the same. You go to your central bank and apply for a banking…"},{"t":"What is the most serious consequence of signing every credit card receipt with a rocketship drawing instead of an actual signature?","u":"what-is-the-most-serious-consequence-of-signing-every-credit-card-receipt-with-a-rocketship-drawing","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Card Disputes"],"p":[],"d":"2013-05-04","x":"No repercussion to you, the negative affect (if any) is to the Merchant. If you dispute the legal signature on the…"},{"t":"Why are many French banks closed on Mondays, and has this negatively impacted France’s business responsiveness or entrepreneurial development?","u":"why-are-many-french-banks-closed-on-mondays-and-has-this-negatively-impacted-frances-business-respon","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":["Developed Markets","EMEA"],"d":"2013-05-04","x":"Those banks that are open on Saturday, usually are closed on Monday. The French are very particular about the number of…"},{"t":"How does a bank determine when to seal a safe deposit box after a customer passes away?","u":"how-does-a-bank-determine-when-to-seal-a-safe-deposit-box-after-a-customer-passes-away","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":["United States"],"d":"2013-05-04","x":"Depends where you are in the world. In the US, when a death certificate is issued, the death is reported to Social…"},{"t":"Seeking an attorney who can assist our client (a Sri Lankan bank) with registering as a money transmitter in New York and eventually other states. Any recommendations?","u":"seeking-an-attorney-who-can-assist-our-client-a-sri-lankan-bank-with-registering-as-a-money-transmit","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","MSB Registration (US)"],"p":["Americas","New York"],"d":"2013-05-04","x":"Two names I can suggest (please do your own due diligence): Perkins Coie ( http://www.perkinscoie.com/ ) Morrison…"},{"t":"Can a U.S. bank operating in just one state provide money transfer services to residents of other states?","u":"can-a-us-bank-operating-in-just-one-state-provide-money-transfer-services-to-residents-of-other-stat","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Transmitter Licenses (MTL)"],"p":["Florida","Texas"],"d":"2013-05-04","x":"It depends. Lets say (for example) the Bank is licensed as an MSB in Florida, and it would like to offer Money Transfer…"},{"t":"What’s the worst-case consequence of signing credit card receipts with a drawing (like a rocketship) instead of a signature?","u":"whats-the-worst-case-consequence-of-signing-credit-card-receipts-with-a-drawing-like-a-rocketship-in","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Card Security"],"p":[],"d":"2013-05-04","x":"No repercussion to you, the negative affect (if any) is to the Merchant. If you dispute the legal signature on the…"},{"t":"Why are French banks often closed on Mondays, and has that negatively affected entrepreneurship or business responsiveness in France?","u":"why-are-french-banks-often-closed-on-mondays-and-has-that-negatively-affected-entrepreneurship-or-bu","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":["Developed Markets","EMEA"],"d":"2013-05-04","x":"Those banks that are open on Saturday, usually are closed on Monday. The French are very particular about the number of…"},{"t":"How do banks know when to seal a safe deposit box after someone dies?","u":"how-do-banks-know-when-to-seal-a-safe-deposit-box-after-someone-dies","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":["United States"],"d":"2013-05-04","x":"Depends where you are in the world. In the US, when a death certificate is issued, the death is reported to Social…"},{"t":"Can anyone recommend a lawyer to help a Sri Lankan bank register as a money transmitter in New York (and later other US states)?","u":"can-anyone-recommend-a-lawyer-to-help-a-sri-lankan-bank-register-as-a-money-transmitter-in-new-york","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["Americas","New York"],"d":"2013-05-04","x":"Two names I can suggest (please do your own due diligence): Perkins Coie ( http://www.perkinscoie.com/ ) Morrison…"},{"t":"Can a US bank that operates in only one state offer money transfer services to residents of other states?","u":"can-a-us-bank-that-operates-in-only-one-state-offer-money-transfer-services-to-residents-of-other-st","c":"US Money Transmitter Licensing and MSB Registration","s":["US Licensing","Money Services Business (MSB)"],"p":["Florida","Restricted Jurisdictions"],"d":"2013-05-04","x":"It depends. Lets say (for example) the Bank is licensed as an MSB in Florida, and it would like to offer Money Transfer…"},{"t":"What alternative currencies, similar to Bitcoin, have been most successful?","u":"what-alternative-currencies-similar-to-bitcoin-have-been-most-successful","c":"Bitcoin and Cryptocurrency Basics","s":["Bitcoin","Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2013-05-03","x":"There is hardly any alternative to Bitcoin (digital/crypto currencies . Here is a list of all the digital currencies out…"},{"t":"What alternative payment methods are most used in international B2B transactions?","u":"what-alternative-payment-methods-are-most-used-in-international-b2b-transactions","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Cross-Border B2B Payments","Third-Party Payments in Trade"],"p":["China"],"d":"2013-05-02","x":"There aren\u0026#39;t any actually. Each region in some way, shape or form has their own payment system. But a payment system…"},{"t":"Why don’t banks rely on fingerprints for customer identification instead of signatures or ID cards?","u":"why-dont-banks-rely-on-fingerprints-for-customer-identification-instead-of-signatures-or-id-cards","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Biometrics"],"p":[],"d":"2013-05-02","x":"Whilst this is an idea that would perhaps eventually succeed, at present, this requires a lot of technology integration…"},{"t":"Is there a WordPress plugin to stream Quora activity to a blog?","u":"is-there-a-wordpress-plugin-to-stream-quora-activity-to-a-blog","c":"Payments (General)","s":["TIPS"],"p":[],"d":"2013-05-02","x":"What about the \u0026#34;Press This\u0026#34; button, which you can find under \u0026#34;Tools\u0026#34; (once you log in). That would allow you to be on…"},{"t":"Does Xoom assume fraud risk for credit-card-based transfers, or do credit-card companies bear that risk—and is this why card transfers cost more?","u":"does-xoom-assume-fraud-risk-for-credit-card-based-transfers-or-do-credit-card-companies-bear-that-ri","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2013-05-01","x":"Xoom will do the regular fraud checks on the credit card when a transaction is taking place (AVS, IP match, velocity…"},{"t":"How precisely can a person’s location be determined from blog comments?","u":"how-precisely-can-a-persons-location-be-determined-from-blog-comments","c":"Cybersecurity, Digital Identity and Authentication","s":["Cybersecurity","Digital Identity"],"p":[],"d":"2013-04-12","x":"At best, your IP Address is the most a person can know about you. If you plan to use a proxy server or any other service…"},{"t":"Is an internet-exclusive currency practical or useful?","u":"is-an-internet-exclusive-currency-practical-or-useful","c":"Stablecoins and CBDCs","s":["Digital Dollar"],"p":[],"d":"2013-04-12","x":"It wouldn\u0026#39;t really. The only \u0026#34;unification\u0026#34; that there would be is that it would be one currency that would be traded on…"},{"t":"Do banking transaction references include profanity filters?","u":"do-banking-transaction-references-include-profanity-filters","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2013-04-12","x":"No they don\u0026#39;t. I have seen CTL systems and Core Banking Systems, there is no such filtering mechanism placed on the…"},{"t":"Why are wages distributed in periodic cycles like biweekly rather than continuously in real time?","u":"why-are-wages-distributed-in-periodic-cycles-like-biweekly-rather-than-continuously-in-real-time","c":"Payments (General)","s":["Payment Basics","Payment Products"],"p":[],"d":"2013-04-12","x":"Well, its a compromise really. Here are some points worth considering: Minute-by-Minute (or real-time) salary deposits…"},{"t":"Why did HSBC avoid indictment for laundering money linked to drug and terrorist organizations?","u":"why-did-hsbc-avoid-indictment-for-laundering-money-linked-to-drug-and-terrorist-organizations","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":["MENA (Middle East and North Africa)","Middle East"],"d":"2013-04-12","x":"The HSBC case has been misunderstood by many. The short version is that whatever the US LEAs might charge HSBC with,…"},{"t":"Which POS system is best suited for a small single-register liquor store?","u":"which-pos-system-is-best-suited-for-a-small-single-register-liquor-store","c":"Merchant Accounts, Processors and Gateways","s":["Point of Sale (POS)","POS Terminals"],"p":[],"d":"2013-04-12","x":"You might want to look at Zing Checkout (See iPad, PC, and Mac Point of Sale ). On the features page, you will see they…"},{"t":"Must payment processors confirm an organization’s 501(c)(3) nonprofit status?","u":"must-payment-processors-confirm-an-organizations-501c3-nonprofit-status","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2013-04-11","x":"If you\u0026#39;re offering a specialized discount and/or promotion that requires the non-profit status to be verified, then you…"},{"t":"How can a non-financial startup achieve PCI compliance?","u":"how-can-a-non-financial-startup-achieve-pci-compliance","c":"Cybersecurity, Digital Identity and Authentication","s":["Data Security","Cybersecurity"],"p":[],"d":"2013-04-11","x":"PCI compliance is strictly from a Payments point of view, so if that is something you are not doing, then you really…"},{"t":"If I run a Canadian business selling digital products on a U.S. platform, am I responsible for collecting sales tax from Canadian customers?","u":"if-i-run-a-canadian-business-selling-digital-products-on-a-us-platform-am-i-responsible-for-collecti","c":"Tax and Financial Reporting","s":["Tax","Sales Tax on Payments"],"p":["Americas","Canada"],"d":"2013-04-11","x":"To answer... First, if you\u0026#39;re a Canadian registered business and you sell to fellow Canadians, then Yes, you are…"},{"t":"Is it possible to send remittances using prepaid debit cards?","u":"is-it-possible-to-send-remittances-using-prepaid-debit-cards","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2013-04-11","x":"Yes, very much so. Many remittance companies now ship the pre-paid debit card to the beneficiary, and the remitter loads…"},{"t":"When transferring money between banks, what is technically being exchanged behind the scenes?","u":"when-transferring-money-between-banks-what-is-technically-being-exchanged-behind-the-scenes","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Accounts"],"p":[],"d":"2013-04-10","x":"When wire transfers are made, essentially banks (correspondent and settlement banks) are literally adjusting their…"},{"t":"What are some highly recommended paid digital subscription products?","u":"what-are-some-highly-recommended-paid-digital-subscription-products","c":"E-Commerce, Marketplace and Platform Payments","s":["Recurring Payments","Subscription Billing"],"p":[],"d":"2013-04-10","x":"Dropbox (product) Its a storage subscription for me, and I could honestly not live without it."},{"t":"How does international remittance operate step-by-step, such as sending money from the U.S. to Europe?","u":"how-does-international-remittance-operate-step-by-step-such-as-sending-money-from-the-us-to-europe","c":"Payment Corridors and Remittance Economics","s":["Remittance Corridors","Remittance Economics"],"p":["Bangladesh","Europe"],"d":"2013-04-10","x":"It depends on what sort of arrangement the remitting (remitter) agent has with the beneficiary agent or bank. The tie-up…"},{"t":"What is the most accurate method for measuring a solar panel’s efficiency?","u":"what-is-the-most-accurate-method-for-measuring-a-solar-panels-efficiency","c":"General Finance Questions","s":["Uncategorised"],"p":[],"d":"2013-04-09","x":"The best way is to have a variable Wattage bulb (that has capacity in excess of your single array) and then use a Watt…"},{"t":"Where can you access data on aggregated credit card transactions?","u":"where-can-you-access-data-on-aggregated-credit-card-transactions","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Card Issuing"],"p":[],"d":"2013-04-09","x":"I doubt such statistics are provided for in the public or even paid-for domain. You may be able to find such information…"},{"t":"Where can you find the best rates for converting foreign currencies to USD?","u":"where-can-you-find-the-best-rates-for-converting-foreign-currencies-to-usd","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Exchange Rates"],"p":[],"d":"2013-04-09","x":"The closer you go to any institution or business that changes money for tourists / travellers, the worse off you will be…"},{"t":"What’s the process to cash a check issued in a foreign currency?","u":"whats-the-process-to-cash-a-check-issued-in-a-foreign-currency","c":"Sending and Receiving Money Abroad","s":["Receiving Money from Abroad (Consumer)","Bank Deposit Payouts"],"p":["Latvia","Peru"],"d":"2013-04-09","x":"This cheque would need to go to clearing (which can take anywhere from 2 to 7 days) and only then can it be cashed. The…"},{"t":"How does the Federal Reserve decide bank reserve requirements in practice?","u":"how-does-the-federal-reserve-decide-bank-reserve-requirements-in-practice","c":"Central Banks and Bank Supervision","s":["Central Bank Policy","Central Banks"],"p":["United States"],"d":"2013-04-09","x":"The reserve requirement is determined by the U.S. Federal Reserve based on the total liability based on the deposit in…"},{"t":"Who are the primary shareholders of ICICI Bank?","u":"who-are-the-primary-shareholders-of-icici-bank","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Equities","Securities"],"p":[],"d":"2013-04-09","x":"Here is their shareholder\u0026#39;s breakdown (albeit not in the detail you as asking for). http://www.icicibank.com/aboutus..."},{"t":"Is a VAT number required on e-commerce invoices globally?","u":"is-a-vat-number-required-on-e-commerce-invoices-globally","c":"Tax and Financial Reporting","s":["Tax","International Tax"],"p":["European Union","Singapore"],"d":"2013-04-09","x":"For transactions outside of EU, imposition of VAT \u0026amp;/or requiring VAT number is not required . Even if one is provided to…"},{"t":"How profitable are international wire transfers for banks?","u":"how-profitable-are-international-wire-transfers-for-banks","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Large International Transfers"],"p":[],"d":"2013-04-09","x":"Hardly any on the wire transfer fees, as that barely covers the cost of the network they use to send the wire across.…"},{"t":"What defines a transnational company?","u":"what-defines-a-transnational-company","c":"General Finance Questions","s":["Definitions","General"],"p":[],"d":"2013-04-09","x":"Another world for international. Going across borders into multiple territories. Nestle, Coca-Cola, IBM, Intel,…"},{"t":"Where can aggregated statistics on global credit card payments be accessed?","u":"where-can-aggregated-statistics-on-global-credit-card-payments-be-accessed","c":"Payments (General)","s":["Payment Methods","Payment Industry Overview"],"p":[],"d":"2013-04-09","x":"I doubt such statistics are provided for in the public or even paid-for domain. You may be able to find such information…"},{"t":"Where can the best exchange rates for converting foreign currency to USD be found?","u":"where-can-the-best-exchange-rates-for-converting-foreign-currency-to-usd-be-found","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Exchange Rates"],"p":[],"d":"2013-04-09","x":"The closer you go to any institution or business that changes money for tourists / travellers, the worse off you will be…"},{"t":"How can a check issued in a foreign currency be cashed?","u":"how-can-a-check-issued-in-a-foreign-currency-be-cashed","c":"Sending and Receiving Money Abroad","s":["Receiving Money from Abroad (Consumer)","Inward Remittances"],"p":["Latvia","Peru"],"d":"2013-04-09","x":"This cheque would need to go to clearing (which can take anywhere from 2 to 7 days) and only then can it be cashed. The…"},{"t":"How does the US Federal Reserve determine reserve requirements in practice?","u":"how-does-the-us-federal-reserve-determine-reserve-requirements-in-practice","c":"Central Banks and Bank Supervision","s":["Central Banks","Central Bank Policy"],"p":["United States"],"d":"2013-04-09","x":"The reserve requirement is determined by the U.S. Federal Reserve based on the total liability based on the deposit in…"},{"t":"Who are the major shareholders of ICICI Bank?","u":"who-are-the-major-shareholders-of-icici-bank","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Equities","Securities"],"p":[],"d":"2013-04-09","x":"Here is their shareholder\u0026#39;s breakdown (albeit not in the detail you as asking for). http://www.icicibank.com/aboutus..."},{"t":"Is a VAT number required on e-commerce invoices in every country?","u":"is-a-vat-number-required-on-e-commerce-invoices-in-every-country","c":"Tax and Financial Reporting","s":["Tax","International Tax"],"p":["European Union","Singapore"],"d":"2013-04-09","x":"For transactions outside of EU, imposition of VAT \u0026amp;/or requiring VAT number is not required . Even if one is provided to…"},{"t":"How much profit do banks typically earn from international wire transfers?","u":"how-much-profit-do-banks-typically-earn-from-international-wire-transfers","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2013-04-09","x":"Hardly any on the wire transfer fees, as that barely covers the cost of the network they use to send the wire across.…"},{"t":"Why is there resistance to online payments among Indian consumers?","u":"why-is-there-resistance-to-online-payments-among-indian-consumers","c":"Emerging Markets and Financial Inclusion","s":["Emerging Market Economies"],"p":["Asia","Emerging Markets"],"d":"2013-04-07","x":"I would agree with Upasana Taku - The Indian \u0026#39;e\u0026#39; payments industry is still nascent. Though many innovative solutions…"},{"t":"Why does PayPal struggle with Indian regulations while 2Checkout does not?","u":"why-does-paypal-struggle-with-indian-regulations-while-2checkout-does-not","c":"Licensing in Other Countries","s":["India Payment Licensing (RBI)","Licensing Comparison by Country"],"p":["Asia","India"],"d":"2013-04-07","x":"Indian laws are very strict when payments \u0026#39;outside\u0026#39; of India have to be made in foreign currencies (eg: US Dollars). 2CO…"},{"t":"Which payment gateways are best for selling digital content in Europe and South America?","u":"which-payment-gateways-are-best-for-selling-digital-content-in-europe-and-south-america","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Americas","Europe"],"d":"2013-04-07","x":"I would recommend that you look at www.plimus.com , they specialize in the digital goods \u0026amp; services payments."},{"t":"What are realistic ways to make money online today?","u":"what-are-realistic-ways-to-make-money-online-today","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Earning Money Online","Income Streams"],"p":[],"d":"2013-04-07","x":"Making money online is the question that everyone is asking themselves in some form or another. Everyday. People do make…"},{"t":"Which payment gateways support merchants based in Southeast Asia?","u":"which-payment-gateways-support-merchants-based-in-southeast-asia","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-04-07","x":"www.2checkout.com accepts merchants from all over the world. Having dealt with them, if you have a legit business, and…"},{"t":"How popular is PayPal as a payment method in Southeast Asia?","u":"how-popular-is-paypal-as-a-payment-method-in-southeast-asia","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-04-07","x":"If you can read Chinese, you might also want to look at www.AliPay.com - it is quite up and coming payment system in Far…"},{"t":"Are ATM fees driven by actual technical costs or mainly used as profit centers by banks?","u":"are-atm-fees-driven-by-actual-technical-costs-or-mainly-used-as-profit-centers-by-banks","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2013-04-07","x":"Outside the US, many banks work with 3rd party to install and deploy ATMs. Some work on a financed model where partial…"},{"t":"Can a non-US citizen living abroad use a credit card issued by a US bank?","u":"can-a-non-us-citizen-living-abroad-use-a-credit-card-issued-by-a-us-bank","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":["United States"],"d":"2013-04-07","x":"You can get \u0026#39;secured\u0026#39; credit cards (even for non-Americans). You might also want to look at www.iKobo.com and get their…"},{"t":"Which processors allow online cash-advance transactions?","u":"which-processors-allow-online-cash-advance-transactions","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2013-04-07","x":"By online I mean, the ability for a person to charge his/her card online (on a website) and not on a physical terminal.…"},{"t":"What are the reasons behind low adoption of online payments among Indian users?","u":"what-are-the-reasons-behind-low-adoption-of-online-payments-among-indian-users","c":"Emerging Markets and Financial Inclusion","s":["Emerging Market Economies"],"p":["Asia","Emerging Markets"],"d":"2013-04-07","x":"I would agree with Upasana Taku - The Indian \u0026#39;e\u0026#39; payments industry is still nascent. Though many innovative solutions…"},{"t":"Why does PayPal face legal and regulatory hurdles in India compared to 2Checkout?","u":"why-does-paypal-face-legal-and-regulatory-hurdles-in-india-compared-to-2checkout","c":"Licensing in Other Countries","s":["India Payment Licensing (RBI)","Licensing Comparison by Country"],"p":["Asia","India"],"d":"2013-04-07","x":"Indian laws are very strict when payments \u0026#39;outside\u0026#39; of India have to be made in foreign currencies (eg: US Dollars). 2CO…"},{"t":"What payment gateway works best for selling digital content in Europe and South America?","u":"what-payment-gateway-works-best-for-selling-digital-content-in-europe-and-south-america","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Americas","EMEA"],"d":"2013-04-07","x":"I would recommend that you look at www.plimus.com , they specialize in the digital goods \u0026amp; services payments."},{"t":"Do hotels typically charge guests for internet access?","u":"do-hotels-typically-charge-guests-for-internet-access","c":"Payments (General)","s":["Payment Basics"],"p":[],"d":"2013-04-07","x":"Most hotels now charge for Wifi. Some still offer free wifi, but most of the hotels I have come across will charge for…"},{"t":"What are practical ways to earn money online?","u":"what-are-practical-ways-to-earn-money-online","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Earning Money Online","Income Streams"],"p":[],"d":"2013-04-07","x":"Making money online is the question that everyone is asking themselves in some form or another. Everyday. People do make…"},{"t":"What payment gateways support merchants operating in Southeast Asia?","u":"what-payment-gateways-support-merchants-operating-in-southeast-asia","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-04-07","x":"www.2checkout.com accepts merchants from all over the world. Having dealt with them, if you have a legit business, and…"},{"t":"How popular is PayPal for online payments and services in Southeast Asia?","u":"how-popular-is-paypal-for-online-payments-and-services-in-southeast-asia","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-04-07","x":"If you can read Chinese, you might also want to look at www.AliPay.com - it is quite up and coming payment system in Far…"},{"t":"Are ATM fees driven by real technical costs or mainly bank profit?","u":"are-atm-fees-driven-by-real-technical-costs-or-mainly-bank-profit","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2013-04-07","x":"Outside the US, many banks work with 3rd party to install and deploy ATMs. Some work on a financed model where partial…"},{"t":"Can non-US residents get and use a US bank-issued credit card while living abroad?","u":"can-non-us-residents-get-and-use-a-us-bank-issued-credit-card-while-living-abroad","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":["United States"],"d":"2013-04-07","x":"You can get \u0026#39;secured\u0026#39; credit cards (even for non-Americans). You might also want to look at www.iKobo.com and get their…"},{"t":"Which online payment processors allow cash-advance transactions?","u":"which-online-payment-processors-allow-cash-advance-transactions","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2013-04-07","x":"By online I mean, the ability for a person to charge his/her card online (on a website) and not on a physical terminal.…"},{"t":"What is the most cost-effective way to send a wire transfer from the U.S. to Europe?","u":"what-is-the-most-cost-effective-way-to-send-a-wire-transfer-from-the-us-to-europe","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Developed Markets","EMEA"],"d":"2013-04-04","x":"Your best bet would be to look at a Currency Broker who has a system that is automated enough to do batch payments. If…"},{"t":"Money Transfers: How much commission does a Western Union or MoneyGram agent earn per transaction?","u":"money-transfers-how-much-commission-does-a-western-union-or-moneygram-agent-earn-per-transaction","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","MTO Economics"],"p":[],"d":"2013-04-04","x":"It varies from country to country. Usually on the fees collected (and if there is any FX gain), the agent\u0026#39;s take is…"},{"t":"What qualities or features would you prefer in a bank?","u":"what-qualities-or-features-would-you-prefer-in-a-bank","c":"Digital Banks, Neobanks and Mobile Banking","s":["Digital Banks"],"p":[],"d":"2013-04-04","x":"Here are some of the things I would like the banks I bank with to offer: 2FA (Two Factor Authentication - via Mobile) to…"},{"t":"Are current anti–money laundering rules helping or harming the U.S. financial system?","u":"are-current-antimoney-laundering-rules-helping-or-harming-the-us-financial-system","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Policies and Procedures"],"p":["Americas","Developed Markets"],"d":"2013-04-04","x":"Marie S. and User-9918985937555143421 have answered well, I would just like to add certain points on what they have…"},{"t":"Is it safe to give someone your bank wire details?","u":"is-it-safe-to-give-someone-your-bank-wire-details","c":"Fraud and Scams","s":["Payment Fraud","Wire Fraud"],"p":["North America","United States"],"d":"2013-04-03","x":"Bank Wire Fraud does happen, however more stringent controls are now in place in various Core Banking softwares to…"},{"t":"What are best practices for secure user authentication in online banking?","u":"what-are-best-practices-for-secure-user-authentication-in-online-banking","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Multi-Factor Authentication (MFA)"],"p":[],"d":"2013-04-03","x":"Worldwide trend is now to use two factor authentication using the mobile phone. The mobile phone is registered and a…"},{"t":"How does PayPal Here stack up against Square?","u":"how-does-paypal-here-stack-up-against-square","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Card Payments"],"p":[],"d":"2013-04-03","x":"Short answer: Yes. I think it is inevitable. Square has made it very easy for others to understand what the whole mobile…"},{"t":"Why do banks maintain such a large number of physical branches?","u":"why-do-banks-maintain-such-a-large-number-of-physical-branches","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2013-04-03","x":"Bank\u0026#39;s bottom line is to solicit funds (deposits) and to reuse these deposits as loans and other commercial instruments…"},{"t":"Does a personal loan function similarly to an overdraft, or does it involve regular cash repayments?","u":"does-a-personal-loan-function-similarly-to-an-overdraft-or-does-it-involve-regular-cash-repayments","c":"Lending, Credit Scores and BNPL","s":["Consumer Credit","Consumer Lending"],"p":[],"d":"2013-04-03","x":"Personal Loan depends on how it is structured. Usually it is a time-bound loan with regular payments (of Principal…"},{"t":"What particular IT control standards are required by financial regulators in Asia?","u":"what-particular-it-control-standards-are-required-by-financial-regulators-in-asia","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulators"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-04-03","x":"Most central banks / financial regulators don\u0026#39;t have a specific document for them to follow with regards to the IT…"},{"t":"Online Payment Gateways and Processing: Can someone explain the likely reasons behind Nokia Money shutting down in India?","u":"online-payment-gateways-and-processing-can-someone-explain-the-likely-reasons-behind-nokia-money-shu","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Business Insights"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-04-03","x":"Nokia\u0026#39;s roadmap for revamping under the new CEO makes it as such, that the company will focus only on Mobile phone and…"},{"t":"What would be the estimated cost of creating in-house payment processing and escrow operations?","u":"what-would-be-the-estimated-cost-of-creating-in-house-payment-processing-and-escrow-operations","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Operations"],"p":[],"d":"2013-04-03","x":"Your costs would depend on what acquiring rate you would get from the bank. Here is an answer that would help you in…"},{"t":"How does PayPal Here compare with Square for in-person payments?","u":"how-does-paypal-here-compare-with-square-for-in-person-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Card Payments"],"p":[],"d":"2013-04-03","x":"Short answer: Yes. I think it is inevitable. Square has made it very easy for others to understand what the whole mobile…"},{"t":"Why do banks continue to maintain so many physical branches?","u":"why-do-banks-continue-to-maintain-so-many-physical-branches","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2013-04-03","x":"Bank\u0026#39;s bottom line is to solicit funds (deposits) and to reuse these deposits as loans and other commercial instruments…"},{"t":"Does a personal loan function like an overdraft or require structured repayments?","u":"does-a-personal-loan-function-like-an-overdraft-or-require-structured-repayments","c":"Lending, Credit Scores and BNPL","s":["Consumer Lending","Consumer Credit"],"p":[],"d":"2013-04-03","x":"Personal Loan depends on how it is structured. Usually it is a time-bound loan with regular payments (of Principal…"},{"t":"What IT control requirements are commonly imposed by Asian financial regulators?","u":"what-it-control-requirements-are-commonly-imposed-by-asian-financial-regulators","c":"Regulators, Enforcement and Regulatory Change","s":["Regulation","Regulators"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-04-03","x":"Most central banks / financial regulators don\u0026#39;t have a specific document for them to follow with regards to the IT…"},{"t":"Why did Nokia Money shut down in India?","u":"why-did-nokia-money-shut-down-in-india","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Business Failures"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-04-03","x":"Nokia\u0026#39;s roadmap for revamping under the new CEO makes it as such, that the company will focus only on Mobile phone and…"},{"t":"What would it cost to build an internal payment processing and escrow system?","u":"what-would-it-cost-to-build-an-internal-payment-processing-and-escrow-system","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":[],"d":"2013-04-03","x":"Your costs would depend on what acquiring rate you would get from the bank. Here is an answer that would help you in…"},{"t":"Do any online credit-card gateways pass transaction fees directly to the customer instead of the merchant?","u":"do-any-online-credit-card-gateways-pass-transaction-fees-directly-to-the-customer-instead-of-the-mer","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Gateways"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-03-11","x":"Not in the traditional sense. You can charge the end buyer the fees for CC processing on top of the price of the…"},{"t":"Which courses are most effective for learning how to earn money online?","u":"which-courses-are-most-effective-for-learning-how-to-earn-money-online","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Earning Money Online","Income Streams"],"p":[],"d":"2013-03-11","x":"Let me give you the bad news first, there is no easy way to make money. Now that we have gotten that out of the way,…"},{"t":"Why does Visa not maintain an official presence on Twitter?","u":"why-does-visa-not-maintain-an-official-presence-on-twitter","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":[],"d":"2013-03-11","x":"Here are the list of Twitter Accounts operated by VISA @Visa - Visa (Visa) on Twitter @VisaNews - VisaNews (VisaNews) on…"},{"t":"American Express: How widespread is traveler’s check fraud?","u":"american-express-how-widespread-is-travelers-check-fraud","c":"Fraud and Scams","s":["Fraud Prevention","Payment Fraud"],"p":[],"d":"2013-03-11","x":"Nowadays, those institutions that will accept Travellers Cheques will call and verify from the issuing authority as to…"},{"t":"What is an efficient method for sending or receiving over $100,000 online in a single transfer?","u":"what-is-an-efficient-method-for-sending-or-receiving-over-100000-online-in-a-single-transfer","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Wire Transfers","Payment Infrastructure"],"p":[],"d":"2013-03-11","x":"A wire transfer would be your best bet. Safe. Fixed price (regardless of how much amount you transfer) and its secure.…"},{"t":"Money Transfers: Does RIA Financial have different pricing for small shops versus large partners, and how is their fee structure organized?","u":"money-transfers-does-ria-financial-have-different-pricing-for-small-shops-versus-large-partners-and","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","MTO Economics"],"p":[],"d":"2013-03-11","x":"Yes, RIA will offering preferential pricing, which translates to better sharing on money remittances executed with…"},{"t":"What are the biggest international ATM networks, and what are the financial implications of joining them?","u":"what-are-the-biggest-international-atm-networks-and-what-are-the-financial-implications-of-joining-t","c":"Payment Operations, Pricing and Fees","s":["Payment Operations","Payment Fees"],"p":[],"d":"2013-03-11","x":"Plus (interbank network) is the largest Interbank network , followed closely by Cirrus (interbank network) . The cost of…"},{"t":"Besides capital, what requirements must be met to acquire a regional bank?","u":"besides-capital-what-requirements-must-be-met-to-acquire-a-regional-bank","c":"Central Banks and Bank Supervision","s":["Bank Supervision","Bank Charters"],"p":["United States"],"d":"2013-03-11","x":"Assuming you\u0026#39;re in the US, Regional Federal Reserve approval is required. Even if you are buying an existing community…"},{"t":"Do any U.S. banks or credit unions allow customers to hold accounts in foreign currencies?","u":"do-any-us-banks-or-credit-unions-allow-customers-to-hold-accounts-in-foreign-currencies","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Developed Markets","North America"],"d":"2013-03-10","x":"As a UK citizen, no UK bank can deny you the right to open a checking account based on the fact that you don\u0026#39;t live or…"},{"t":"What’s the difference between a wire transfer and a telegraphic transfer?","u":"whats-the-difference-between-a-wire-transfer-and-a-telegraphic-transfer","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers"],"p":[],"d":"2013-03-10","x":"Same thing. Wire Transfer is just the new name for T/T. There is no inherent difference. You can call up your bank\u0026#39;s…"},{"t":"Can Stripe settle payouts to international bank accounts?","u":"can-stripe-settle-payouts-to-international-bank-accounts","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":["Euro","United States Dollar"],"d":"2013-03-10","x":"Yes they do. Can I charge non-US customers? What currencies can my customers use to pay? Yes. If you accept payments…"},{"t":"What’s required to run an SMS subscription service in Pakistan?","u":"whats-required-to-run-an-sms-subscription-service-in-pakistan","c":"Licensing in Other Countries","s":["Pakistan Licensing (SBP)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-03-10","x":"You would need a short-code and need to be licensed by PTA (if you will be conducting business over SMS). You best bet…"},{"t":"What is the difference between a wire transfer and a telegraphic transfer?","u":"what-is-the-difference-between-a-wire-transfer-and-a-telegraphic-transfer","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers"],"p":[],"d":"2013-03-10","x":"Same thing. Wire Transfer is just the new name for T/T. There is no inherent difference. You can call up your bank\u0026#39;s…"},{"t":"Can Stripe settle funds directly into international bank accounts?","u":"can-stripe-settle-funds-directly-into-international-bank-accounts","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":["Euro","United States Dollar"],"d":"2013-03-10","x":"Yes they do. Can I charge non-US customers? What currencies can my customers use to pay? Yes. If you accept payments…"},{"t":"Why does India’s RBI strictly regulate incoming overseas payments?","u":"why-does-indias-rbi-strictly-regulate-incoming-overseas-payments","c":"Licensing in Other Countries","s":["India Payment Licensing (RBI)"],"p":["Asia","India"],"d":"2013-03-09","x":"The goal for RBI to regulate in coming payments is to ensure that it comes via the proper remittance channels and gets…"},{"t":"Which foreign banks operate branches in Charlotte, North Carolina?","u":"which-foreign-banks-operate-branches-in-charlotte-north-carolina","c":"How Banks Work","s":["Banks","International Banking"],"p":["North Carolina"],"d":"2013-03-09","x":"Deutsche Bank, HSBC and Barclays all have branches in Charlotte, NC."},{"t":"Which offshore or international bank is considered safest for protecting funds?","u":"which-offshore-or-international-bank-is-considered-safest-for-protecting-funds","c":"Opening Bank Accounts, Personal and Business","s":["Offshore Banking","Offshore Bank Accounts"],"p":["Hong Kong","Luxembourg"],"d":"2013-03-09","x":"Depends where you are originating from. Even Americans are today learning that siphoning money off (from your tax…"},{"t":"What are Commerzbank’s fees for incoming international bank transfers?","u":"what-are-commerzbanks-fees-for-incoming-international-bank-transfers","c":"Sending and Receiving Money Abroad","s":["Receiving Money from Abroad (Consumer)","Inward Remittances"],"p":["Euro"],"d":"2013-03-09","x":"Commerzbank does not charge for receiving funds from most large banks with whom it does have a relationship with. Most…"},{"t":"What’s the cheapest way to send money from the U.S. to Russia?","u":"whats-the-cheapest-way-to-send-money-from-the-us-to-russia","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["CIS (Commonwealth of Independent States)","CIS Countries"],"d":"2013-03-09","x":"If you do not want to get hit on the exchange rates, a bank wire transfer would be the most safest and economical method…"},{"t":"Why does the Reserve Bank of India strictly regulate overseas incoming payments?","u":"why-does-the-reserve-bank-of-india-strictly-regulate-overseas-incoming-payments","c":"Central Banks and Bank Supervision","s":["Central Bank Policy","Central Banks"],"p":["Illinois","India"],"d":"2013-03-09","x":"The goal for RBI to regulate in coming payments is to ensure that it comes via the proper remittance channels and gets…"},{"t":"Are there foreign banks that operate branches in Charlotte, North Carolina?","u":"are-there-foreign-banks-that-operate-branches-in-charlotte-north-carolina","c":"How Banks Work","s":["Banks","International Banking"],"p":["North Carolina"],"d":"2013-03-09","x":"Deutsche Bank, HSBC and Barclays all have branches in Charlotte, NC."},{"t":"Which offshore or international banks are considered safest for holding funds?","u":"which-offshore-or-international-banks-are-considered-safest-for-holding-funds","c":"Opening Bank Accounts, Personal and Business","s":["Offshore Banking","Offshore Bank Accounts"],"p":["Hong Kong","Luxembourg"],"d":"2013-03-09","x":"Depends where you are originating from. Even Americans are today learning that siphoning money off (from your tax…"},{"t":"What fees does Commerzbank charge for receiving international wire transfers?","u":"what-fees-does-commerzbank-charge-for-receiving-international-wire-transfers","c":"Sending and Receiving Money Abroad","s":["Receiving Money from Abroad (Consumer)","Money Transfer"],"p":["Euro"],"d":"2013-03-09","x":"Commerzbank does not charge for receiving funds from most large banks with whom it does have a relationship with. Most…"},{"t":"What is the cheapest way to transfer money from the United States to Russia?","u":"what-is-the-cheapest-way-to-transfer-money-from-the-united-states-to-russia","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["CIS Countries","Russia"],"d":"2013-03-09","x":"If you do not want to get hit on the exchange rates, a bank wire transfer would be the most safest and economical method…"},{"t":"Is it possible to open multiple accounts within one bank?","u":"is-it-possible-to-open-multiple-accounts-within-one-bank","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Account Structures"],"p":[],"d":"2013-03-08","x":"Yes. The core banking systems nowadays allow you to have multiple bank accounts, with the same name, address, DOB and…"},{"t":"What are the necessary requirements to establish a bank?","u":"what-are-the-necessary-requirements-to-establish-a-bank","c":"Central Banks and Bank Supervision","s":["New Banking Licenses","Bank Charters"],"p":[],"d":"2013-03-08","x":"Depends which country you are considering, but the general requirements \u0026amp; prerequisites are usually published by the…"},{"t":"Are banks required to disclose fraud-related losses publicly, such as in call reports?","u":"are-banks-required-to-disclose-fraud-related-losses-publicly-such-as-in-call-reports","c":"Tax and Financial Reporting","s":["Financial Reporting","Financial Management"],"p":[],"d":"2013-03-07","x":"No, at least not that I have seen. They would bundle this under some expense account, or tie it up with NPL…"},{"t":"What is required to build a PayPal-like payment service that enables online payments and money transfers through the Internet or branded credit/debit cards?","u":"what-is-required-to-build-a-paypal-like-payment-service-that-enables-online-payments-and-money-trans","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":["United States"],"d":"2013-03-06","x":"Answer to your question in a very condensed manner... Depending on which country you want to operate such a service in,…"},{"t":"Which Pakistani bank is most advanced digitally and strongest in social media performance?","u":"which-pakistani-bank-is-most-advanced-digitally-and-strongest-in-social-media-performance","c":"Business Strategy, Case Studies and Lessons Learned","s":["Competitive Analysis","Industry Insights"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-03-06","x":"Honestly, none of the banks. They somehow just don\u0026#39;t get social media truly. If you look at all the banks that are…"},{"t":"Can a bank run occur digitally without physical withdrawals?","u":"can-a-bank-run-occur-digitally-without-physical-withdrawals","c":"Central Banks and Bank Supervision","s":["Banking Economics","Bank Runs"],"p":[],"d":"2013-03-06","x":"Well Simple (company) is doing just that, running a virtual online bank. Thought technically they are not a bank (to the…"},{"t":"How would you explain PayPal to an 18-year-old with no prior experience in online payments?","u":"how-would-you-explain-paypal-to-an-18-year-old-with-no-prior-experience-in-online-payments","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Peer-to-Peer Payments"],"p":[],"d":"2013-03-06","x":"You\u0026#39;d be surprised how knowledgable 18 year olds today are. Any how to answer your question, nothing would explain…"},{"t":"What does it take to build a PayPal-like payment service that enables online payments and money transfers (and possibly branded cards)?","u":"what-does-it-take-to-build-a-paypal-like-payment-service-that-enables-online-payments-and-money-tran","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":["United States"],"d":"2013-03-06","x":"Answer to your question in a very condensed manner... Depending on which country you want to operate such a service in,…"},{"t":"How can I generate income without traditional employment?","u":"how-can-i-generate-income-without-traditional-employment","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Earning Money Online","Income Streams"],"p":[],"d":"2013-03-05","x":"Professional Begging (or Internet Begging) also known as Online Panhandling. Example site: Free Cyber Begging And Online…"},{"t":"How does someone begin trading stocks?","u":"how-does-someone-begin-trading-stocks","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Stock Markets","Equities"],"p":[],"d":"2013-03-05","x":"By understanding them first. Anything less and you might as well do online betting. There are literally 1000s of…"},{"t":"Which bank is ideal for managing accounts in multiple currencies?","u":"which-bank-is-ideal-for-managing-accounts-in-multiple-currencies","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Expat Banking","Financial Literacy"],"p":[],"d":"2013-03-05","x":"HSBC (company) Deutsche Bank Barclays Bank Royal Bank of Scotland"},{"t":"Which U.S. banks provide euro-denominated bank accounts?","u":"which-us-banks-provide-euro-denominated-bank-accounts","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening"],"p":["Americas","Developed Markets"],"d":"2013-03-05","x":"Deutsche Bank is another example. They will do multiple currencies and can do Euro and British Pound Sterling accounts…"},{"t":"Can additional deposits be made into an existing certificate of deposit (CD)?","u":"can-additional-deposits-be-made-into-an-existing-certificate-of-deposit-cd","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Saving"],"p":[],"d":"2013-03-05","x":"Yes, depending on how your CD is structured. If you have a monthly, then adding is no issue. At the start of every…"},{"t":"Online Payments: What is the most effective way for a startup to accept international bank transfers?","u":"online-payments-what-is-the-most-effective-way-for-a-startup-to-accept-international-bank-transfers","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2013-03-05","x":"You can work with companies like TheCurrencyCloud or Xendpay, they can do invoice processing for a lot many countries."},{"t":"How might the Visa–JPMorgan partnership affect the payments industry?","u":"how-might-the-visajpmorgan-partnership-affect-the-payments-industry","c":"Business Strategy, Case Studies and Lessons Learned","s":["Partnerships","Industry Strategy"],"p":[],"d":"2013-03-04","x":"Too early to tell how the payment space would be affected by this marriage. At the very earliest what we would probably…"},{"t":"How does a credit/debit card transaction actually function behind the scenes?","u":"how-does-a-creditdebit-card-transaction-actually-function-behind-the-scenes","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Debit Cards"],"p":[],"d":"2013-03-04","x":"From a visual and slightly brief point of view, here is how an online card transaction works."},{"t":"Which topics would be most engaging in an m-payment workshop for developing countries?","u":"which-topics-would-be-most-engaging-in-an-m-payment-workshop-for-developing-countries","c":"Emerging Markets and Financial Inclusion","s":["Emerging Market Economies"],"p":[],"d":"2013-03-01","x":"I would echo what Dave Birch has cited. I have attended many such conferences and workshops. All seem to focus too much…"},{"t":"Would banks invest in new payment rails if it allowed them to dominate digital payments like they dominate card networks?","u":"would-banks-invest-in-new-payment-rails-if-it-allowed-them-to-dominate-digital-payments-like-they-do","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Domestic Payment Schemes"],"p":["Asia","Emerging Markets"],"d":"2013-03-01","x":"From an outside the US perspective, the answer is Yes. Many banks \u0026amp; start-ups in emerging and developing countries are…"},{"t":"How does banking transaction software interface with ACH networks?","u":"how-does-banking-transaction-software-interface-with-ach-networks","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2013-02-12","x":"Dont know how to present the software layer out to you, but most of what I have seen is ACH is defined as a delivery…"},{"t":"Why are many institutions reluctant to partner with Bitcoin-related businesses?","u":"why-are-many-institutions-reluctant-to-partner-with-bitcoin-related-businesses","c":"Sponsor Banks, FBO Accounts and Banking Access for Fintechs and MSBs","s":["Crypto Banking Relationships","Fintech Banking Relationships"],"p":["Bitcoin","Developed Markets"],"d":"2013-02-12","x":"Many businesses honestly have no inkling of what Bitcoin is, let alone use it / accept it. For those in the know there…"},{"t":"How does the payments ecosystem function, and what is the end-to-end workflow from a merchant’s transaction to the acquirer?","u":"how-does-the-payments-ecosystem-function-and-what-is-the-end-to-end-workflow-from-a-merchants-transa","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Card Payments"],"p":[],"d":"2013-02-12","x":"This is a pretty wide open question. Will try to answer as much as I can. I\u0026#39;ve included more visual versus text, as…"},{"t":"What’s required to build a card-present payments system from scratch, and are there open-source options?","u":"whats-required-to-build-a-card-present-payments-system-from-scratch-and-are-there-open-source-option","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2013-02-12","x":"If you will be swiping cards, chances are the hardware device you will use, will come with its own SDK allowing to read…"},{"t":"Do Visa and Mastercard run private processing networks, and why not use the public internet instead?","u":"do-visa-and-mastercard-run-private-processing-networks-and-why-not-use-the-public-internet-instead","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Visa"],"p":[],"d":"2013-02-12","x":"VISA and Mastercard both do own their network, and in most case lease network access points to securely tunnel via their…"},{"t":"What does it actually cost a bank to process a check?","u":"what-does-it-actually-cost-a-bank-to-process-a-check","c":"Payment Operations, Pricing and Fees","s":["Payment Operations","Payment Pricing"],"p":[],"d":"2013-02-12","x":"Literally a few cents. Its the cost of ACH (highly negotiated rates based on volumes. Wouldn\u0026#39;t be surprised if they…"},{"t":"Why are card processing fees charged to the merchant rather than the cardholder?","u":"why-are-card-processing-fees-charged-to-the-merchant-rather-than-the-cardholder","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2013-02-12","x":"Because its easier that way. The more payment acceptance vehicles you have, the more complex pricing will be for the end…"},{"t":"What is required to build a card-present payment system from scratch, and is open-source software available?","u":"what-is-required-to-build-a-card-present-payment-system-from-scratch-and-is-open-source-software-ava","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2013-02-12","x":"If you will be swiping cards, chances are the hardware device you will use, will come with its own SDK allowing to read…"},{"t":"Do Visa and MasterCard operate private payment networks, and why don’t they rely solely on the public internet?","u":"do-visa-and-mastercard-operate-private-payment-networks-and-why-dont-they-rely-solely-on-the-public","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Visa"],"p":[],"d":"2013-02-12","x":"VISA and Mastercard both do own their network, and in most case lease network access points to securely tunnel via their…"},{"t":"What is the real cost incurred by a bank when processing a check?","u":"what-is-the-real-cost-incurred-by-a-bank-when-processing-a-check","c":"Payment Operations, Pricing and Fees","s":["Payment Operations","Payment Pricing"],"p":[],"d":"2013-02-12","x":"Literally a few cents. Its the cost of ACH (highly negotiated rates based on volumes. Wouldn\u0026#39;t be surprised if they…"},{"t":"Why are credit card processing fees charged to merchants instead of cardholders?","u":"why-are-credit-card-processing-fees-charged-to-merchants-instead-of-cardholders","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2013-02-12","x":"Because its easier that way. The more payment acceptance vehicles you have, the more complex pricing will be for the end…"},{"t":"Does a bank safe deposit box function as a Faraday cage?","u":"does-a-bank-safe-deposit-box-function-as-a-faraday-cage","c":"General Finance Questions","s":["Definitions"],"p":[],"d":"2013-02-11","x":"The interior is usually a conductor, so no, not really. It wouldn\u0026#39;t serve the exact purpose of a Faraday cage, because…"},{"t":"For an e-commerce business, what is the best method to offer users a secondary payment processor?","u":"for-an-e-commerce-business-what-is-the-best-method-to-offer-users-a-secondary-payment-processor","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Online Checkout"],"p":[],"d":"2013-02-11","x":"As is done with many websites, use a single page and let the user choose his/her payment method. Most website suffice by…"},{"t":"Which types of remittance services do you personally use?","u":"which-types-of-remittance-services-do-you-personally-use","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2013-02-10","x":"You probably would not get much information on Quora regarding the different channels of remittances used by users here,…"},{"t":"Why do card networks charge merchants a percentage of each transaction?","u":"why-do-card-networks-charge-merchants-a-percentage-of-each-transaction","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2013-02-10","x":"Siddharth Narayanan has very valid points, I\u0026#39;ll give you a simpler answer: Its an interest based banking…"},{"t":"Why do credit card networks charge merchants a percentage-based transaction fee?","u":"why-do-credit-card-networks-charge-merchants-a-percentage-based-transaction-fee","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2013-02-10","x":"Siddharth Narayanan has very valid points, I\u0026#39;ll give you a simpler answer: Its an interest based banking…"},{"t":"What technology enables platforms to take a commission while users sell products within a social network?","u":"what-technology-enables-platforms-to-take-a-commission-while-users-sell-products-within-a-social-net","c":"E-Commerce, Marketplace and Platform Payments","s":["Platform Payments","E-Commerce Payments"],"p":[],"d":"2013-02-09","x":"Your best bet would be to work with a payment processor who would allow you to set your referral commission (or…"},{"t":"How can I launch a legally compliant online business?","u":"how-can-i-launch-a-legally-compliant-online-business","c":"Starting and Running a Fintech or Payments Business","s":["Operations"],"p":[],"d":"2013-02-08","x":"Have a look at this answer I wrote quite a while back. How do I start an online business?"},{"t":"What advantages does an American Express corporate card offer in India?","u":"what-advantages-does-an-american-express-corporate-card-offer-in-india","c":"Credit, Debit and Prepaid Cards","s":["Corporate Cards","Credit Cards"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-02-08","x":"It depends. From a very close bud who has one, he is always complaining at the number of establishments where the card…"},{"t":"How can I find statistics on the number of bank accounts by country?","u":"how-can-i-find-statistics-on-the-number-of-bank-accounts-by-country","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2013-02-08","x":"It would be very hard to get data on the number of bank accounts. Almost all the central banks in the world, take…"},{"t":"Are there banking products specifically designed for children aged 7–14?","u":"are-there-banking-products-specifically-designed-for-children-aged-714","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Saving"],"p":["Asia-Pacific (APAC)","New Zealand"],"d":"2013-02-08","x":"Outside of US, many banks offer this in Europe, South Asia, ANZ, etc. (examples below): Bank AL Habib (Pakistan):…"},{"t":"Which bank has the widest global branch or ATM presence?","u":"which-bank-has-the-widest-global-branch-or-atm-presence","c":"General Finance Questions","s":["Company Comparisons","General Finance Questions"],"p":[],"d":"2013-02-08","x":"HSBC - with over 7,500 branches/offices world over. See http://en.wikipedia.org/wiki/HSBC"},{"t":"Do Pakistani banks maintain internal credit scores for customers?","u":"do-pakistani-banks-maintain-internal-credit-scores-for-customers","c":"Lending, Credit Scores and BNPL","s":["Credit Scoring","Credit Bureaus"],"p":["Asia","Indian Subcontinent"],"d":"2013-02-08","x":"That would be the job of the CIB (Credit Information Bureau) at SBP, and all member financial institutions report into…"},{"t":"If you could only pick one social network, which would it be and why?","u":"if-you-could-only-pick-one-social-network-which-would-it-be-and-why","c":"General Finance Questions","s":["General","Company Comparisons"],"p":[],"d":"2013-02-08","x":"Facebook: The people that matter to me, in my life, are all on Facebook. Not all of them are on Linked In, or Twitter…"},{"t":"What perks come with holding an American Express corporate card in India?","u":"what-perks-come-with-holding-an-american-express-corporate-card-in-india","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Corporate Cards"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-02-08","x":"It depends. From a very close bud who has one, he is always complaining at the number of establishments where the card…"},{"t":"What inspired you to begin managing your personal finances?","u":"what-inspired-you-to-begin-managing-your-personal-finances","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Budgeting"],"p":[],"d":"2013-02-08","x":"What inspired you to begin managing your personal finances?"},{"t":"Where can I find statistics on the number of bank accounts by country?","u":"where-can-i-find-statistics-on-the-number-of-bank-accounts-by-country","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2013-02-08","x":"It would be very hard to get data on the number of bank accounts. Almost all the central banks in the world, take…"},{"t":"Do banks offer special programs or accounts for kids aged 7–14?","u":"do-banks-offer-special-programs-or-accounts-for-kids-aged-714","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Saving"],"p":["Asia-Pacific (APAC)","New Zealand"],"d":"2013-02-08","x":"Outside of US, many banks offer this in Europe, South Asia, ANZ, etc. (examples below): Bank AL Habib (Pakistan):…"},{"t":"Which bank operates the largest branch network globally?","u":"which-bank-operates-the-largest-branch-network-globally","c":"General Finance Questions","s":["Company Comparisons","General Finance Questions"],"p":[],"d":"2013-02-08","x":"HSBC - with over 7,500 branches/offices world over. See http://en.wikipedia.org/wiki/HSBC"},{"t":"Do Pakistani banks track and maintain customer credit scores?","u":"do-pakistani-banks-track-and-maintain-customer-credit-scores","c":"Lending, Credit Scores and BNPL","s":["Credit Bureaus","Credit Scoring"],"p":["Pakistan","State Bank of Pakistan"],"d":"2013-02-08","x":"That would be the job of the CIB (Credit Information Bureau) at SBP, and all member financial institutions report into…"},{"t":"Which service is best for sending money to my husband in Africa?","u":"which-service-is-best-for-sending-money-to-my-husband-in-africa","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Africa","EMEA"],"d":"2013-02-07","x":"Money Transfers to Africa are quite expensive due to the dearth of players and those who are in the game, charge quite…"},{"t":"What are the key security risks of using PHP or other scripting languages for financial web apps compared to Java?","u":"what-are-the-key-security-risks-of-using-php-or-other-scripting-languages-for-financial-web-apps-com","c":"Cybersecurity, Digital Identity and Authentication","s":["Cybersecurity","Data Security"],"p":[],"d":"2013-02-07","x":"Here is a cross-question that I answered on Quora and cite various PHP Security related links, specifically on how to…"},{"t":"Can someone open a U.S. bank account without owning a U.S. business?","u":"can-someone-open-a-us-bank-account-without-owning-a-us-business","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["United States"],"d":"2013-02-06","x":"Absolutely. You can setup a US Bank Account (Personal Checking Account) without having a company in the US. Just walk…"},{"t":"Why do banks impose fees for placing a stop payment on a check?","u":"why-do-banks-impose-fees-for-placing-a-stop-payment-on-a-check","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2013-02-06","x":"Its additional administrative work. Banks are licensed to charge you for this, as per their SOC (Schedule of Charges)."},{"t":"Do savings accounts come with routing numbers?","u":"do-savings-accounts-come-with-routing-numbers","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2013-02-06","x":"Yes, they do. It would be shown on your Savings check book (lower left corner). Please do note, Routing numbers are…"},{"t":"Is it feasible to open a temporary bank account in Munich for six weeks to transfer funds from my home country?","u":"is-it-feasible-to-open-a-temporary-bank-account-in-munich-for-six-weeks-to-transfer-funds-from-my-ho","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Germany"],"d":"2013-02-06","x":"Yes, it is possible to open a short-term account. There isn\u0026#39;t a definition per se for a short-term account, the bank…"},{"t":"Why do banks charge fees for stop-payment requests on checks?","u":"why-do-banks-charge-fees-for-stop-payment-requests-on-checks","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2013-02-06","x":"Its additional administrative work. Banks are licensed to charge you for this, as per their SOC (Schedule of Charges)."},{"t":"Do savings accounts have routing numbers?","u":"do-savings-accounts-have-routing-numbers","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2013-02-06","x":"Yes, they do. It would be shown on your Savings check book (lower left corner). Please do note, Routing numbers are…"},{"t":"Can I open a bank account in Germany for only six weeks (e.g., in Munich) to transfer money from my home country?","u":"can-i-open-a-bank-account-in-germany-for-only-six-weeks-eg-in-munich-to-transfer-money-from-my-home","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Central Europe","DACH (Germany, Austria, Switzerland)"],"d":"2013-02-06","x":"Yes, it is possible to open a short-term account. There isn\u0026#39;t a definition per se for a short-term account, the bank…"},{"t":"Why do processors exist — why don't Visa and Mastercard directly handle all transactions themselves?","u":"why-do-processors-exist-why-dont-visa-and-mastercard-directly-handle-all-transactions-themselves","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Visa"],"p":[],"d":"2013-02-05","x":"Its not VISA or Mastercard\u0026#39;s business to go directly to the end-user or client. Think of the large card companies as…"},{"t":"Why do credit card companies perform poorly in the online banking arena?","u":"why-do-credit-card-companies-perform-poorly-in-the-online-banking-arena","c":"Banking and Payments Technology Stack","s":["Performance","System Integration"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-02-03","x":"Speaking from a view point of outside the US, most banks in South Asia, South East Asia, etc. do offer a very quick…"},{"t":"What is international banking, and why is it necessary?","u":"what-is-international-banking-and-why-is-it-necessary","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Trade Payment Compliance"],"p":[],"d":"2013-02-03","x":"International Banking: We need this to be able to better work (read: bank) in other countries. Each country has its own…"},{"t":"What is Paymate and how does its money transfer service work?","u":"what-is-paymate-and-how-does-its-money-transfer-service-work","c":"Licensing in Other Countries","s":["Licensing Comparison by Country"],"p":["Asia-Pacific (APAC)","Australia"],"d":"2013-02-02","x":"Two questions here: Paymate provides its services in Australia with the legal cover as cited on their main page: The…"},{"t":"Why should we trust that small U.S. businesses can generate sufficient employment?","u":"why-should-we-trust-that-small-us-businesses-can-generate-sufficient-employment","c":"Economics, Inflation and Monetary Policy","s":["Macroeconomics","Economic Trends"],"p":["Americas","Developed Markets"],"d":"2013-02-02","x":"I\u0026#39;ll give you half-and-answer. There are a lot of empirical models that suggest how Small Businesses in the US can be a…"},{"t":"Will physical cash still be widely used twenty years from now?","u":"will-physical-cash-still-be-widely-used-twenty-years-from-now","c":"Payments (General)","s":["Cash","Payment Methods"],"p":[],"d":"2013-02-01","x":"Most likely, but not to the tune and volume we might do currently. Most of the world would most likely be trading with…"},{"t":"Money Transfers: How does Western Union offer a zero-fee transfer option?","u":"money-transfers-how-does-western-union-offer-a-zero-fee-transfer-option","c":"Money Transfer Business and MTOs","s":["Western Union","Money Transfer Operators (MTO)"],"p":[],"d":"2013-02-01","x":"The Zero Fee Option is more commonly referred to as the Free-Send model, in which the Sender (Remitter) does not incur…"},{"t":"Can U.S. bank account numbers include alphabetic characters?","u":"can-us-bank-account-numbers-include-alphabetic-characters","c":"How Banks Work","s":["Banks","Bank Account Validation"],"p":["Americas","Developed Markets"],"d":"2013-02-01","x":"For the US, it is digits only. A change in ASC X9 is required, which is the financial services standard development…"},{"t":"Do you believe a gallon of gasoline could drop to $1 again within your lifetime?","u":"do-you-believe-a-gallon-of-gasoline-could-drop-to-1-again-within-your-lifetime","c":"Economics, Inflation and Monetary Policy","s":["Economic Trends","Macroeconomics"],"p":[],"d":"2013-01-11","x":"Not really. I\u0026#39;ve resigned to the fact that Oil will no longer be in the $40-$60 range. The current pricing has made…"},{"t":"What might the USD-to-Zamunda Pound exchange rate have been in 1988 and what could it be today?","u":"what-might-the-usd-to-zamunda-pound-exchange-rate-have-been-in-1988-and-what-could-it-be-today","c":"FX Rates, Spreads and Currency Markets","s":["Exchange Rates","Currency Exchange"],"p":["United States","United States Dollar"],"d":"2013-01-11","x":"In the movie unfortunately no reference to an exchange rate was ever given. So your guess is as good as mine. Assuming…"},{"t":"How long does an international wire transfer from the U.S. to HDFC Bank in India usually take?","u":"how-long-does-an-international-wire-transfer-from-the-us-to-hdfc-bank-in-india-usually-take","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["India","United States"],"d":"2013-01-11","x":"If all information is correct, Maximum 3-Days (I\u0026#39;d be very surprised if the actual number is more than 2 days) for the…"},{"t":"Can someone legally turn $200 into $1000 within 30 days?","u":"can-someone-legally-turn-200-into-1000-within-30-days","c":"High-Risk Industries","s":["Gambling Payments","High-Risk Verticals"],"p":[],"d":"2013-01-11","x":"Yes, Online Poker. Online poker will make this happen for you in one day even. Just depends on how good you are at it.…"},{"t":"My friend needs to open a current account for employment — which UAE bank should he choose?","u":"my-friend-needs-to-open-a-current-account-for-employment-which-uae-bank-should-he-choose","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening"],"p":["EMEA","Gulf Cooperation Council"],"d":"2013-01-10","x":"Emirates NBD bank is a great bank to work with: See http://www.emiratesnbd.com/en/ . Albeit, you can work with pretty…"},{"t":"What does it cost a bank to produce and issue a debit card?","u":"what-does-it-cost-a-bank-to-produce-and-issue-a-debit-card","c":"Card Networks and Card Issuing","s":["Card Issuing","Issuer Processing"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2013-01-10","x":"This depends in which part of the world you are in, and the market competition. Typical Debit card outlay to a bank in…"},{"t":"Why are physical checks free to process while ACH transfers incur fees?","u":"why-are-physical-checks-free-to-process-while-ach-transfers-incur-fees","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2013-01-10","x":"Great Question... Answering in reverse. ACH payments are cleared by one of the two ACH networks: FedACH or EPN. Both…"},{"t":"How can I set up a PayPal business account?","u":"how-can-i-set-up-a-paypal-business-account","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2013-01-10","x":"Pretty easy... go to Send Money, Pay Online or Set Up a Merchant Account Click on Sign up... And Sign-up for a Business…"},{"t":"Can someone open a U.S. PayPal account using an Israeli credit card?","u":"can-someone-open-a-us-paypal-account-using-an-israeli-credit-card","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets"],"p":["Developed Markets","Israel"],"d":"2013-01-10","x":"No. Your signup on a US credit card will have an AVS (Address Verification System) check on the billing address of the…"},{"t":"If an FDIC-insured bank run occurs, when would I receive my insured funds?","u":"if-an-fdic-insured-bank-run-occurs-when-would-i-receive-my-insured-funds","c":"Central Banks and Bank Supervision","s":["Deposit Insurance","Bank Failures"],"p":[],"d":"2013-01-10","x":"As per the FDIC guidelines: as soon as possible , but usually within two days from the day the bank fails. When can I…"},{"t":"Payment Processing: What is the most effective method for paying vendors overseas?","u":"payment-processing-what-is-the-most-effective-method-for-paying-vendors-overseas","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2013-01-09","x":"SWIFT Wire Transfer. Safest and Cheapest method."},{"t":"Online Payments: Which African countries have populations with no or very limited access to debit and credit cards?","u":"online-payments-which-african-countries-have-populations-with-no-or-very-limited-access-to-debit-and","c":"Emerging Markets and Financial Inclusion","s":["Financial Inclusion","Underbanked"],"p":["Africa","EMEA"],"d":"2013-01-09","x":"Was researching this question myself. Turns out, there isn\u0026#39;t a collective source for consolidated numbers for Africa.…"},{"t":"How does the World Bank provide loans to countries? Do they create currency, or use another mechanism?","u":"how-does-the-world-bank-provide-loans-to-countries-do-they-create-currency-or-use-another-mechanism","c":"Geopolitics of Money and the International Monetary System","s":["Development Banks","Sovereign Debt"],"p":[],"d":"2013-01-09","x":"Yes, it is a currency credit to the Central Bank of the country, via World Bank\u0026#39;s designated banks. They don\u0026#39;t issue…"},{"t":"How much remittance revenue is sent to Africa annually?","u":"how-much-remittance-revenue-is-sent-to-africa-annually","c":"Payment Corridors and Remittance Economics","s":["Remittance Data","Remittance Economics"],"p":["Africa","Global South"],"d":"2013-01-09","x":"World Bank\u0026#39;s Remittances \u0026amp; Migration Site has this: http://econ.worldbank.org/WBSITE... Click on the Inflows (to obtain…"},{"t":"What else can banks do beyond financing to support growing businesses?","u":"what-else-can-banks-do-beyond-financing-to-support-growing-businesses","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2013-01-09","x":"Albeit very few banks actually do this (community banks being the exception), banks can help you network. Community…"},{"t":"Why should small business owners understand their financial statements?","u":"why-should-small-business-owners-understand-their-financial-statements","c":"General Finance Questions","s":["General Finance Questions","General"],"p":[],"d":"2013-01-09","x":"Yes! Understanding your financial statement is akin to being able to navigate when you have a boat. Understanding your…"},{"t":"Beyond lending, how else can banks support growing businesses?","u":"beyond-lending-how-else-can-banks-support-growing-businesses","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2013-01-09","x":"Albeit very few banks actually do this (community banks being the exception), banks can help you network. Community…"},{"t":"Why is it important for small business owners to understand and read financial statements?","u":"why-is-it-important-for-small-business-owners-to-understand-and-read-financial-statements","c":"General Finance Questions","s":["General Finance Questions","General"],"p":[],"d":"2013-01-09","x":"Yes! Understanding your financial statement is akin to being able to navigate when you have a boat. Understanding your…"},{"t":"Which payment gateway is most suitable for global transactions?","u":"which-payment-gateway-is-most-suitable-for-global-transactions","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["United States Dollar"],"d":"2013-01-08","x":"Bank of America Merchant Account. Hands down! One of the best service out there for international use. The caveat being,…"},{"t":"What are effective methods or tools for processing online payments originating from Nigeria?","u":"what-are-effective-methods-or-tools-for-processing-online-payments-originating-from-nigeria","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":["Africa","Emerging Markets"],"d":"2013-01-08","x":"Treat the transaction as a cash-advance, which would be settled immediately and is non-reversible. This is for merchants…"},{"t":"Why do international money transfers require time to complete?","u":"why-do-international-money-transfers-require-time-to-complete","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2013-01-08","x":"There are too many factors, but here are some of them: Settlement between exchange company and receiving bank. This can…"},{"t":"What is the least expensive method to transfer funds from Turkey to the U.S.?","u":"what-is-the-least-expensive-method-to-transfer-funds-from-turkey-to-the-us","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Emerging Markets","Turkey"],"d":"2013-01-08","x":"Direct - Bank to Bank TT (Telegraphic Transfer), i.e. SWIFT Wire Transfer."},{"t":"What effective strategies exist for marketing products to banking professionals?","u":"what-effective-strategies-exist-for-marketing-products-to-banking-professionals","c":"Business Strategy, Case Studies and Lessons Learned","s":["Go-to-Market","Industry Strategy"],"p":[],"d":"2013-01-08","x":"Depending upon your product and the geographic area you are operating in, you have many options. If the product is…"},{"t":"What are good alternatives to a traditional safe deposit box?","u":"what-are-good-alternatives-to-a-traditional-safe-deposit-box","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy"],"p":[],"d":"2013-01-08","x":"Multiple Safety Deposit Boxes or Home Safe."},{"t":"Is it safe to provide debit-card information to a web sales representative in chat?","u":"is-it-safe-to-provide-debit-card-information-to-a-web-sales-representative-in-chat","c":"Fraud and Scams","s":["Payment Fraud","Fraud Prevention"],"p":[],"d":"2013-01-08","x":"Short Answer: No Unless the website has cleared cited online chat as a mechanism for accepting credit card information -…"},{"t":"What is the Hawala system, and what happened in the Hawala scandal?","u":"what-is-the-hawala-system-and-what-happened-in-the-hawala-scandal","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Hawala","Informal Remittance Channels"],"p":[],"d":"2013-01-08","x":"First of all - at present, there does not exist a baseline (globally accepted) understanding, as to what an informal…"},{"t":"Which e-commerce platforms let customers buy credits for future purchases?","u":"which-e-commerce-platforms-let-customers-buy-credits-for-future-purchases","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Platform Payments"],"p":[],"d":"2013-01-07","x":"Add a few more to the list: - Domain Registrars (Eg: Enom) - Design Theme Websites (Eg: Envato) - Virtual Worlds (Eg:…"},{"t":"Where is the best option for non-U.S. residents to open a U.S. merchant account?","u":"where-is-the-best-option-for-non-us-residents-to-open-a-us-merchant-account","c":"Merchant Accounts, Processors and Gateways","s":["Merchant Accounts","Payment Processors"],"p":[],"d":"2013-01-03","x":"You might not be able to open a proper US Merchant Account if you are not a US based business with an EIN and some form…"},{"t":"What distinguishes a money transmitter license from an escrow license?","u":"what-distinguishes-a-money-transmitter-license-from-an-escrow-license","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":[],"d":"2013-01-03","x":"Escrow licensing and DFI licensing are inherently different. DFI is required when you will be routing money from Party A…"},{"t":"How can commercial companies handle Check21 transactions on their own?","u":"how-can-commercial-companies-handle-check21-transactions-on-their-own","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Checks and Cheques","Payment Infrastructure"],"p":[],"d":"2013-01-03","x":"Unless you are an ACH processor yourself, you would have to go through a 3rd party to have these processed for you. If…"},{"t":"What is the difference between a money transmitter license and an escrow license?","u":"what-is-the-difference-between-a-money-transmitter-license-and-an-escrow-license","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensable Activities","License Type Comparisons (MSB vs EMI vs Bank)"],"p":[],"d":"2013-01-03","x":"Escrow licensing and DFI licensing are inherently different. DFI is required when you will be routing money from Party A…"},{"t":"How can for-profit companies directly process Check21 transactions?","u":"how-can-for-profit-companies-directly-process-check21-transactions","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Checks and Cheques"],"p":[],"d":"2013-01-03","x":"Unless you are an ACH processor yourself, you would have to go through a 3rd party to have these processed for you. If…"},{"t":"How long does an international wire take to reach a Standard Chartered PKR account?","u":"how-long-does-an-international-wire-take-to-reach-a-standard-chartered-pkr-account","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Pakistan","Pakistani Rupee"],"d":"2013-01-02","x":"Wires coming to PK (for Standard Chartered Bank) come so via their regional clearing bank, which is Standard Chartered…"},{"t":"How long does an international wire transfer take to reach a Standard Chartered PKR account?","u":"how-long-does-an-international-wire-transfer-take-to-reach-a-standard-chartered-pkr-account","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Pakistan","Pakistani Rupee"],"d":"2013-01-02","x":"Wires coming to PK (for Standard Chartered Bank) come so via their regional clearing bank, which is Standard Chartered…"},{"t":"How many bank branches are there globally?","u":"how-many-bank-branches-are-there-globally","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2013-01-01","x":"Hard to give a total count, but each central bank of each country, does publish this data in their annual reports…"},{"t":"If account balances aren’t tied to physical cash, what prevents digital manipulation?","u":"if-account-balances-arent-tied-to-physical-cash-what-prevents-digital-manipulation","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2013-01-01","x":"The following prevents it... Internal Audit and processes External Audits Daily Reporting to Central Bank for money…"},{"t":"Is it standard to incur fees when transferring money from personal to business accounts within the same bank?","u":"is-it-standard-to-incur-fees-when-transferring-money-from-personal-to-business-accounts-within-the-s","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments"],"p":[],"d":"2013-01-01","x":"No, that is not common. Intra-bank funds transfer is usually free of any Fees. Which side is the fees being applied?…"},{"t":"Should Indian companies accept online payments with a 1–2% fee instead of receiving cheques?","u":"should-indian-companies-accept-online-payments-with-a-12-fee-instead-of-receiving-cheques","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":["Asia","India"],"d":"2013-01-01","x":"The answer is most likely going to be No . Unless you are offering an instantaneous settlement of payments (especially…"},{"t":"Can you get a temporary virtual card number without owning an actual credit card?","u":"can-you-get-a-temporary-virtual-card-number-without-owning-an-actual-credit-card","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards","Credit Cards"],"p":["United States"],"d":"2013-01-01","x":"Prepaid Virtual Debit Cards are a common offering. Check in your country if they are available. Also, you might want to…"},{"t":"How do providers like PayPal and Square verify and process credit card transactions?","u":"how-do-providers-like-paypal-and-square-verify-and-process-credit-card-transactions","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2012-12-12","x":"There is no central system per se. Depending on who your acquiring bank is, you pass (parse) the transaction information…"},{"t":"Why did personal digital certificates fail to gain widespread adoption?","u":"why-did-personal-digital-certificates-fail-to-gain-widespread-adoption","c":"Cybersecurity, Digital Identity and Authentication","s":["Digital Identity","Cybersecurity"],"p":[],"d":"2012-12-12","x":"Here are some points to consider: Too complicated for an average user to understand (average users have a hard enough…"},{"t":"If two NFC cards are in my wallet, what prevents both from being charged when I tap for payment?","u":"if-two-nfc-cards-are-in-my-wallet-what-prevents-both-from-being-charged-when-i-tap-for-payment","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Mobile Payments"],"p":[],"d":"2012-12-12","x":"Very interesting question. I can answer it from a project on which I am working on where these very specific questions…"},{"t":"What’s a low-cost way for an independent contractor to collect payments online quickly?","u":"whats-a-low-cost-way-for-an-independent-contractor-to-collect-payments-online-quickly","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Freelancer Payments"],"p":["United States"],"d":"2012-12-12","x":"To answer your question in reverse: Square would be US concentric and you would need the physical swipe of the card. If…"},{"t":"What is a low-cost way for an independent contractor to quickly collect payments online?","u":"what-is-a-low-cost-way-for-an-independent-contractor-to-quickly-collect-payments-online","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Freelancer Payments"],"p":["United States"],"d":"2012-12-12","x":"To answer your question in reverse: Square would be US concentric and you would need the physical swipe of the card. If…"},{"t":"Can you purchase a cashier’s check or money order using a credit card?","u":"can-you-purchase-a-cashiers-check-or-money-order-using-a-credit-card","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2012-12-11","x":"Most banks won\u0026#39;t do this, because you have the option of doing a chargeback on the transaction. However, you can pay…"},{"t":"What requirements must a company meet to legally call itself a bank in the UK?","u":"what-requirements-must-a-company-meet-to-legally-call-itself-a-bank-in-the-uk","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["UK Licensing"],"p":["Developed Markets","EMEA"],"d":"2012-12-11","x":"In the UK, you would need to be regulated by the Financial Services Authority. FSA\u0026#39;s Official website can be accessed…"},{"t":"Can a Simple-style virtual bank be built in the United Kingdom?","u":"can-a-simple-style-virtual-bank-be-built-in-the-united-kingdom","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["UK Licensing"],"p":["Developed Markets","EMEA"],"d":"2012-12-11","x":"Regarding FSA \u0026amp; HM Revenue \u0026amp; Customs regulations - the answer is yes. If you are the principal, agent or sub-agent, you…"},{"t":"What are some inspiring success stories about SaaS customer support?","u":"what-are-some-inspiring-success-stories-about-saas-customer-support","c":"Business Strategy, Case Studies and Lessons Learned","s":["Success Stories"],"p":["Asia","China"],"d":"2012-12-11","x":"I think this would be very difficult to answer with any reasonable degree of accuracy. Forget the world, getting such…"},{"t":"Approximately how many payment transactions occur globally each day?","u":"approximately-how-many-payment-transactions-occur-globally-each-day","c":"Payments (General)","s":["Payment Industry Overview","Payment Basics"],"p":[],"d":"2012-12-11","x":"I think this would be very difficult to answer with any reasonable degree of accuracy. Forget the world, getting such…"},{"t":"What are your views on cloud-based digital wallets for proximity payments?","u":"what-are-your-views-on-cloud-based-digital-wallets-for-proximity-payments","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Mobile Payments"],"p":[],"d":"2012-12-10","x":"Not sure if you are asking for a readymade working solution or are looking for a deployable solution. For the latter,…"},{"t":"Which payment gateways work for a self-hosted online store in India?","u":"which-payment-gateways-work-for-a-self-hosted-online-store-in-india","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","India"],"d":"2012-12-10","x":"Please see the following answer for some of the providers: What is the best low-cost merchant account solution for…"},{"t":"What payment gateway options exist for self-hosted e-commerce stores in India?","u":"what-payment-gateway-options-exist-for-self-hosted-e-commerce-stores-in-india","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","India"],"d":"2012-12-10","x":"Please see the following answer for some of the providers: What is the best low-cost merchant account solution for…"},{"t":"What are the core components required to build a peer-to-peer payment system?","u":"what-are-the-core-components-required-to-build-a-peer-to-peer-payment-system","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Transmitter Licenses (MTL)"],"p":[],"d":"2012-12-08","x":"Though the question is very deep, here is a brief answer: On a legal level, this would constitute as a money transmitter…"},{"t":"How does Bank of America determine exchange rates for incoming wire transfers?","u":"how-does-bank-of-america-determine-exchange-rates-for-incoming-wire-transfers","c":"FX Rates, Spreads and Currency Markets","s":["Exchange Rates","Foreign Exchange (FX)"],"p":[],"d":"2012-12-08","x":"BoA\u0026#39;s Treasury Department sets the rate for various currencies, etc. everyday. These are interbank rates, TT…"},{"t":"Which bank does Apple use to process iTunes and App Store payments?","u":"which-bank-does-apple-use-to-process-itunes-and-app-store-payments","c":"E-Commerce, Marketplace and Platform Payments","s":["Platform Payments","E-Commerce Payments"],"p":[],"d":"2012-12-08","x":"I would guess Bank of America - as that is the bank they allow the wire transfers to come in - if you don\u0026#39;t have a…"},{"t":"What are the steps to build a peer-to-peer payments platform?","u":"what-are-the-steps-to-build-a-peer-to-peer-payments-platform","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":[],"d":"2012-12-08","x":"Though the question is very deep, here is a brief answer: On a legal level, this would constitute as a money transmitter…"},{"t":"How does Bank of America determine exchange rates for incoming wires?","u":"how-does-bank-of-america-determine-exchange-rates-for-incoming-wires","c":"FX Rates, Spreads and Currency Markets","s":["Exchange Rates","Foreign Exchange (FX)"],"p":[],"d":"2012-12-08","x":"BoA\u0026#39;s Treasury Department sets the rate for various currencies, etc. everyday. These are interbank rates, TT…"},{"t":"Which bank handles Apple’s iTunes and App Store payment processing?","u":"which-bank-handles-apples-itunes-and-app-store-payment-processing","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Platform Payments"],"p":[],"d":"2012-12-08","x":"I would guess Bank of America - as that is the bank they allow the wire transfers to come in - if you don\u0026#39;t have a…"},{"t":"Is it advisable to use a credit card check to pay down a credit line balance?","u":"is-it-advisable-to-use-a-credit-card-check-to-pay-down-a-credit-line-balance","c":"Lending, Credit Scores and BNPL","s":["Consumer Credit","Debt Management"],"p":[],"d":"2012-12-07","x":"Use whatever is necessary to reduce your interest rate as well as the debt you have. Be very careful of such…"},{"t":"Which payment systems are best suited for selling software online?","u":"which-payment-systems-are-best-suited-for-selling-software-online","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Online Checkout"],"p":[],"d":"2012-12-07","x":"www.Plimus.com (they handle digital delivery goods), www.swreg.org (Digital River company), www.2checkout.com , PayPal…"},{"t":"Are there third-party billing platforms where I can collect payments, take a cut, and forward the rest to merchants?","u":"are-there-third-party-billing-platforms-where-i-can-collect-payments-take-a-cut-and-forward-the-rest","c":"E-Commerce, Marketplace and Platform Payments","s":["Platform Payments","E-Commerce Payments"],"p":[],"d":"2012-12-07","x":"Various companies on the Internet will handle payments/receivables for you. You can Google for them (payroll services,…"},{"t":"Should mobile payment systems be free for merchants to use?","u":"should-mobile-payment-systems-be-free-for-merchants-to-use","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2012-12-07","x":"Money has to be made by someone in the system. If the transaction does turn up free for the merchant, then the company…"},{"t":"What payment systems work best for selling software online?","u":"what-payment-systems-work-best-for-selling-software-online","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2012-12-07","x":"www.Plimus.com (they handle digital delivery goods), www.swreg.org (Digital River company), www.2checkout.com , PayPal…"},{"t":"What third-party billing services allow acting as an intermediary—collecting customer payments, taking a cut, and paying merchants?","u":"what-third-party-billing-services-allow-acting-as-an-intermediarycollecting-customer-payments-taking","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2012-12-07","x":"Various companies on the Internet will handle payments/receivables for you. You can Google for them (payroll services,…"},{"t":"Should mobile payment platforms charge merchants or remain free to use?","u":"should-mobile-payment-platforms-charge-merchants-or-remain-free-to-use","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2012-12-07","x":"Money has to be made by someone in the system. If the transaction does turn up free for the merchant, then the company…"},{"t":"Which online service is most cost-effective for registering multiple S/C-corporations in the U.S. and obtaining EINs?","u":"which-online-service-is-most-cost-effective-for-registering-multiple-sc-corporations-in-the-us-and-o","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Company Formation","Legal Entity Formation by Jurisdiction"],"p":["Americas","Delaware"],"d":"2012-12-07","x":"Please also be aware that if you self-file, you would need to find a Registered Agent for the state you are filing in.…"},{"t":"What is the minimum data required to authorize a credit card transaction?","u":"what-is-the-minimum-data-required-to-authorize-a-credit-card-transaction","c":"Card Networks and Card Issuing","s":["Card Authorization"],"p":[],"d":"2012-12-06","x":"Yes, it is still possible to obtain an authorization without the name. This is what is done when your mag stripe does…"},{"t":"Which U.S.-based independent payment gateways are considered the best?","u":"which-us-based-independent-payment-gateways-are-considered-the-best","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Americas","Developed Markets"],"d":"2012-12-06","x":"Off the bat, a name that comes to mind is Braintree (company) - they are not owned by any large corporation (to the best…"},{"t":"Which major bank offers the simplest and easiest account opening process?","u":"which-major-bank-offers-the-simplest-and-easiest-account-opening-process","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Account Verification"],"p":[],"d":"2012-12-06","x":"Most of the KYC checks are electronic and the data is sourced from companies like GB Group (See: GB Group. Age \u0026amp;…"},{"t":"Are there recommended books or research papers on money laundering?","u":"are-there-recommended-books-or-research-papers-on-money-laundering","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":[],"d":"2012-12-05","x":"Reference Guide to Anti-Money Laundering and Combatting the Financing of Terrorism : See…"},{"t":"What does it cost to manufacture a U.S. penny?","u":"what-does-it-cost-to-manufacture-a-us-penny","c":"General Finance Questions","s":["General Finance Questions"],"p":["United States","United States Dollar"],"d":"2012-12-05","x":"Answer: 2.41 Cents. Source: The United States Mint · Coins \u0026amp; Medals"},{"t":"Can Visa gift cards be used to pay for online services?","u":"can-visa-gift-cards-be-used-to-pay-for-online-services","c":"Credit, Debit and Prepaid Cards","s":["Gift Cards","Prepaid Cards"],"p":[],"d":"2012-12-05","x":"Yes. Since I am also familiar with Rackspace, I know you can use it there also. Essentially a VISA Gift Card will be…"},{"t":"How can payment processing be handled in the background?","u":"how-can-payment-processing-be-handled-in-the-background","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Payment APIs"],"p":[],"d":"2012-12-05","x":"You need to work processors that have an API. An API would be able to parse the information you have collected for…"},{"t":"What is the total amount of physical currency currently in existence?","u":"what-is-the-total-amount-of-physical-currency-currently-in-existence","c":"Economics, Inflation and Monetary Policy","s":["Currency","Fiat Currency"],"p":["United States Dollar"],"d":"2012-12-05","x":"Answer: 1.11 Trillion US Dollars in physical circulation. Source: How much U.S. currency is in circulation?"},{"t":"What qualities do online merchants prioritize when choosing a payment processor?","u":"what-qualities-do-online-merchants-prioritize-when-choosing-a-payment-processor","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2012-12-03","x":"Having sold/introduced 100s of merchant to payment processors, here is what we have found usually that holds true (in…"},{"t":"Are there studies analyzing the link between digital-to-traditional transaction ratios and retail banks’ operating costs?","u":"are-there-studies-analyzing-the-link-between-digital-to-traditional-transaction-ratios-and-retail-ba","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2012-12-03","x":"There might be such statistics that would most likely be published either by the Financial Regulator as some form of a…"},{"t":"Banking: Do banks move physical cash to settle online transfers, and if not, how is it handled?","u":"banking-do-banks-move-physical-cash-to-settle-online-transfers-and-if-not-how-is-it-handled","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-12-03","x":"First of all, almost universally, all money transfers (including cross-border remittances) are pretty much…"},{"t":"How are international sales of online services taxed?","u":"how-are-international-sales-of-online-services-taxed","c":"Tax and Financial Reporting","s":["Tax","International Tax"],"p":["Mexico","Restricted Jurisdictions"],"d":"2012-12-03","x":"They are taxed voluntarily, i.e. if these services are supposed to be taxed by the Government that it is up to the…"},{"t":"Which U.S. bank is best for opening a personal account without a Social Security Number?","u":"which-us-bank-is-best-for-opening-a-personal-account-without-a-social-security-number","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["United States"],"d":"2012-12-03","x":"FinCEN rules do NOT allow you to open a US Bank (Regular Checking or Savings Account) without a valid US VISA/Passport…"},{"t":"Is PayPal’s value proposition still meaningful today?","u":"is-paypals-value-proposition-still-meaningful-today","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Insights","Competitive Analysis"],"p":[],"d":"2012-12-02","x":"IMHO, the PayPal Eco-System . That is the value proposition of PayPal that is still so very strong. Sure there are…"},{"t":"What are some creative ideas to make consumer banking more appealing or modern?","u":"what-are-some-creative-ideas-to-make-consumer-banking-more-appealing-or-modern","c":"Digital Banks, Neobanks and Mobile Banking","s":["Digital Banks"],"p":[],"d":"2012-12-01","x":"Banking via Skype / WebEx - I have always wondered why they don\u0026#39;t train banking relationship associates to do remote…"},{"t":"What are effective strategies for negotiating with banks?","u":"what-are-effective-strategies-for-negotiating-with-banks","c":"General Finance Questions","s":["General Finance Questions"],"p":[],"d":"2012-12-01","x":"The best way to negotiate with a bank is to take a banker (or ex-banker along). To be able to negotiate (for whatever…"},{"t":"Why do banks require more time to process refunds than they do purchases?","u":"why-do-banks-require-more-time-to-process-refunds-than-they-do-purchases","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2012-12-01","x":"Two reasons primarily. The prime reason is administrative compliance. For a reversal to occur a lot of signature and/or…"},{"t":"What is an appropriate response when someone says “money doesn’t buy happiness”?","u":"what-is-an-appropriate-response-when-someone-says-money-doesnt-buy-happiness","c":"Payments (General)","s":["Cash"],"p":[],"d":"2012-12-01","x":"Say the following: \u0026#34; Tis okay, but money can buy ice-cream, lot of it. And ice-cream = happiness \u0026#34;"},{"t":"How can someone launch a Stripe- or Braintree-style payment processor in sub-Saharan Africa?","u":"how-can-someone-launch-a-stripe-or-braintree-style-payment-processor-in-sub-saharan-africa","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":["Africa","Emerging Markets"],"d":"2012-12-01","x":"The question is honestly a very broad and open one cannot possibly answer in its entirety, however, will provide you…"},{"t":"What are the optimistic and pessimistic scenarios for Facebook Payments?","u":"what-are-the-optimistic-and-pessimistic-scenarios-for-facebook-payments","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Strategy","Business Insights"],"p":["Emerging Markets"],"d":"2012-11-12","x":"The summary of it would be... Bullish: They get it right and emerge as a paradigm shift player in the world of global…"},{"t":"What does the term “wireless” signify in “wireless funds transfer”?","u":"what-does-the-term-wireless-signify-in-wireless-funds-transfer","c":"Hawala, Informal Value Transfer and Shadow Finance","s":["Informal Value Transfer Systems (IVTS)"],"p":["Asia","Indian Subcontinent"],"d":"2012-11-12","x":"This term is used a lot in South Asia, Middle East, etc. (though now everything is \u0026#34;wire\u0026#34; based). Wireless funds…"},{"t":"Can bank CDs be transferred to another person, or must they be redeemed first?","u":"can-bank-cds-be-transferred-to-another-person-or-must-they-be-redeemed-first","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Saving"],"p":[],"d":"2012-11-12","x":"Certificate of Deposits can only be moved in the same bank, and that too for ownership / estate handling purposes. Any…"},{"t":"What is the first thing that comes to mind when someone says they are an investment banker?","u":"what-is-the-first-thing-that-comes-to-mind-when-someone-says-they-are-an-investment-banker","c":"Careers, Jobs and Working in Finance","s":["People in Finance","Careers in Banking"],"p":[],"d":"2012-11-12","x":"What is the first thing that comes to mind when someone says they are an investment banker?"},{"t":"What’s the cheapest way to get foreign currency for a trip outside the U.S.?","u":"whats-the-cheapest-way-to-get-foreign-currency-for-a-trip-outside-the-us","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Foreign Exchange (FX)"],"p":["India","Philippines"],"d":"2012-11-12","x":"Honestly, if you can \u0026#39;avoid\u0026#39; buying the currency state-side then do so, because the rate on US soil would always be…"},{"t":"What is the cheapest way to obtain foreign currency for travel outside the US?","u":"what-is-the-cheapest-way-to-obtain-foreign-currency-for-travel-outside-the-us","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Foreign Exchange (FX)"],"p":["India","Philippines"],"d":"2012-11-12","x":"Honestly, if you can \u0026#39;avoid\u0026#39; buying the currency state-side then do so, because the rate on US soil would always be…"},{"t":"Can a U.S. bank decline to process an international wire transfer?","u":"can-a-us-bank-decline-to-process-an-international-wire-transfer","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Restricted Jurisdictions","Sanctioned Jurisdictions"],"d":"2012-11-11","x":"Interesting questions, so here is what might/might-not be possible. You bank could refuse to send a wire if...…"},{"t":"How quickly do check-scanning OCR machines process documents?","u":"how-quickly-do-check-scanning-ocr-machines-process-documents","c":"Banking and Payments Technology Stack","s":["Performance"],"p":[],"d":"2012-11-11","x":"This can vary on the hardware, anywhere from 60 check images per minute, to the high-end ones that now do 180-200 checks…"},{"t":"How can a company start selling SaaS products internationally?","u":"how-can-a-company-start-selling-saas-products-internationally","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":[],"d":"2012-11-11","x":"The law is pretty simple. If you are aggregating payments for further distribution, you need to have a money transmitter…"},{"t":"What SaaS products are best for online security and fraud prevention?","u":"what-saas-products-are-best-for-online-security-and-fraud-prevention","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":["British Pound Sterling","Euro"],"d":"2012-11-11","x":"The only viable method I can think of: if your country supports an interbank funds transfer via the ATM switch.…"},{"t":"Does Airbnb require specific licenses to provide escrow services between transacting parties?","u":"does-airbnb-require-specific-licenses-to-provide-escrow-services-between-transacting-parties","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":[],"d":"2012-11-11","x":"The law is pretty simple. If you are aggregating payments for further distribution, you need to have a money transmitter…"},{"t":"How can I accept online payments directly from bank accounts in a developing country without major card networks?","u":"how-can-i-accept-online-payments-directly-from-bank-accounts-in-a-developing-country-without-major-c","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Account-to-Account Payments"],"p":[],"d":"2012-11-11","x":"The only viable method I can think of: if your country supports an interbank funds transfer via the ATM switch.…"},{"t":"How much cash is generally sitting inside ATMs at any given time?","u":"how-much-cash-is-generally-sitting-inside-atms-at-any-given-time","c":"How Banks Work","s":["Banks","Retail Banking"],"p":["United States","United States Dollar"],"d":"2012-11-09","x":"Money in ATMs comes under the purview of Transaction Banking (Cash), typically under the Retail Banking Division. So,…"},{"t":"How does Xoom transfer funds from a U.S. credit card to a Mexican bank account?","u":"how-does-xoom-transfer-funds-from-a-us-credit-card-to-a-mexican-bank-account","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Americas","Latin America (LatAm)"],"d":"2012-11-09","x":"Xoom will process your card (i.e. take money from your card), do an overseas transfer (usually batched processed, via…"},{"t":"Why does Xoom restrict or ban accounts spending over $3,000 per month?","u":"why-does-xoom-restrict-or-ban-accounts-spending-over-3000-per-month","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2012-11-09","x":"Xoom\u0026#39;s TOS does not cite banning an account where transactional amounts exceed US$ 3,000/month. Being an MSB, they would…"},{"t":"How can you process online payments directly into a partner’s account?","u":"how-can-you-process-online-payments-directly-into-a-partners-account","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Split Payments"],"p":[],"d":"2012-11-09","x":"Off-the-shelve shopping carts will not have the ability to do dual processing on the backend (which is what it seems you…"},{"t":"How does Xoom process a transfer from the US to a foreign bank account such as one in Mexico?","u":"how-does-xoom-process-a-transfer-from-the-us-to-a-foreign-bank-account-such-as-one-in-mexico","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Americas","Latin America"],"d":"2012-11-09","x":"Xoom will process your card (i.e. take money from your card), do an overseas transfer (usually batched processed, via…"},{"t":"Why does Xoom restrict or close accounts that exceed certain monthly transfer limits?","u":"why-does-xoom-restrict-or-close-accounts-that-exceed-certain-monthly-transfer-limits","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2012-11-09","x":"Xoom\u0026#39;s TOS does not cite banning an account where transactional amounts exceed US$ 3,000/month. Being an MSB, they would…"},{"t":"What solutions allow online payments to be routed directly into a partner’s account?","u":"what-solutions-allow-online-payments-to-be-routed-directly-into-a-partners-account","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Split Payments"],"p":[],"d":"2012-11-09","x":"Off-the-shelve shopping carts will not have the ability to do dual processing on the backend (which is what it seems you…"},{"t":"Which currency note has the highest value in the world?","u":"which-currency-note-has-the-highest-value-in-the-world","c":"General Finance Questions","s":["General Finance Questions"],"p":["Kuwait","Kuwaiti Dinar"],"d":"2012-11-08","x":"As a legal tender printed note, its hard to beat the US 100 note. It is the most valuable currency note (as far as I am…"},{"t":"Which currency note currently holds the highest value?","u":"which-currency-note-currently-holds-the-highest-value","c":"General Finance Questions","s":["General Finance Questions"],"p":["Kuwait","Kuwaiti Dinar"],"d":"2012-11-08","x":"As a legal tender printed note, its hard to beat the US 100 note. It is the most valuable currency note (as far as I am…"},{"t":"Is it better to sell computers on eBay or create your own e-commerce site?","u":"is-it-better-to-sell-computers-on-ebay-or-create-your-own-e-commerce-site","c":"E-Commerce, Marketplace and Platform Payments","s":["Marketplace Payments"],"p":["Asia","Emerging Markets"],"d":"2012-11-08","x":"In regional markets like South Asia, Far East, Middle East, your traditional e-commerce success stories (Ebay, Etsy,…"},{"t":"What’s the best way to ship business products efficiently and cost-effectively?","u":"whats-the-best-way-to-ship-business-products-efficiently-and-cost-effectively","c":"General Finance Questions","s":["Company Comparisons"],"p":["Americas","North America"],"d":"2012-11-08","x":"If you\u0026#39;re in the US, dropping in to your local USPS is a great idea. Why? First of all, they have a lot of information…"},{"t":"Can someone study cryptography without a strong math or science background?","u":"can-someone-study-cryptography-without-a-strong-math-or-science-background","c":"Cybersecurity, Digital Identity and Authentication","s":["Cryptography","Encryption"],"p":[],"d":"2012-11-08","x":"Short answer: No. You will need to understand probability, matrices, large-number theory, differential equations…"},{"t":"What conflicts of interest commonly arise between foreign-exchange companies and their clients?","u":"what-conflicts-of-interest-commonly-arise-between-foreign-exchange-companies-and-their-clients","c":"FX Rates, Spreads and Currency Markets","s":["Foreign Exchange (FX)","FX Markets"],"p":[],"d":"2012-11-07","x":"I\u0026#39;ve been on both sides of the coin, a Forex and Commodities trader and ran a Forex Company as well, so I can answer…"},{"t":"Are there legal risks involved in holding money in a PayPal account on behalf of an unrelated third party?","u":"are-there-legal-risks-involved-in-holding-money-in-a-paypal-account-on-behalf-of-an-unrelated-third","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":[],"d":"2012-11-06","x":"This would constitute as you acting as a Money Transmitter and yes, this is against PayPal AUP rules (actually requires…"},{"t":"Will foreign direct investment in eCommerce be permitted in the near future?","u":"will-foreign-direct-investment-in-ecommerce-be-permitted-in-the-near-future","c":"E-Commerce, Marketplace and Platform Payments","s":["Cross-Border E-Commerce"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-11-06","x":"It was a head scratching moment, when India allowed Brick-and-Mortar FDI (Foreign Direct Investment for 51%) and yet…"},{"t":"How are business-to-business payments typically carried out between partners?","u":"how-are-business-to-business-payments-typically-carried-out-between-partners","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Supplier Payments","Cross-Border B2B Payments"],"p":[],"d":"2012-11-06","x":"For small amounts, wire transfers, and even smaller amounts, Western Union. For anything of a sizable risk and amount,…"},{"t":"What essential financial tips should everyone be aware of?","u":"what-essential-financial-tips-should-everyone-be-aware-of","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Saving"],"p":[],"d":"2012-11-06","x":"Just about sums it up... Doesn\u0026#39;t come easy. Retention is difficult. Loses value if its just sitting there. Goes away…"},{"t":"How can I obtain a $400 refund from PayPal for an item that never arrived?","u":"how-can-i-obtain-a-400-refund-from-paypal-for-an-item-that-never-arrived","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets"],"p":["United States Dollar"],"d":"2012-11-05","x":"The amount should not be an issue in question. If you are able to show that no such shipment was made, or you never…"},{"t":"Do wire transfers always incur a fee?","u":"do-wire-transfers-always-incur-a-fee","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Operations"],"p":[],"d":"2012-11-04","x":"Yes. Though not directly or obvious to the sender (Remitter) or the receiver (Beneficiary). In the Remittance world this…"},{"t":"When PayPal verifies a bank account using ACH deposits and withdrawals, can they also view the account’s balance?","u":"when-paypal-verifies-a-bank-account-using-ach-deposits-and-withdrawals-can-they-also-view-the-accoun","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2012-11-03","x":"No. By law that is not allowed. The only information they will know is if the amount they are submitting for a debit…"},{"t":"How long does it typically take for a payment processor or aggregator to settle funds into my account?","u":"how-long-does-it-typically-take-for-a-payment-processor-or-aggregator-to-settle-funds-into-my-accoun","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2012-11-02","x":"Depending on the payment processor, this can be any where from as little as 3 days to 15 days. Most direct acquirers…"},{"t":"Why do some businesses still use old-fashioned carbon-copy credit card imprinters instead of modern processing methods?","u":"why-do-some-businesses-still-use-old-fashioned-carbon-copy-credit-card-imprinters-instead-of-modern","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":["Asia","EMEA"],"d":"2012-11-02","x":"Not sure about the US, but in many parts of Asia and Europe, most acquiring banks now no longer accept the physical…"},{"t":"Why is American Express the only card issuer that prints the CSC code on the front?","u":"why-is-american-express-the-only-card-issuer-that-prints-the-csc-code-on-the-front","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Card Security"],"p":[],"d":"2012-11-02","x":"VISA \u0026amp; Mastercard had put the number at the back, because if anyone glanced at your card from the front (or took a…"},{"t":"Is it normal for bank drafts to be held for a full week?","u":"is-it-normal-for-bank-drafts-to-be-held-for-a-full-week","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2012-11-01","x":"The whole issue with Bank Drafts is that they are bearer specific ready-money instruments, yet the banks (many banks)…"},{"t":"Online Bill Pay: Are payee-to-payee transfers permitted, and if so, why aren’t they available?","u":"online-bill-pay-are-payee-to-payee-transfers-permitted-and-if-so-why-arent-they-available","c":"Banking and Payments Technology Stack","s":["System Integration","Financial Technology Architecture"],"p":["Americas","United States"],"d":"2012-11-01","x":"Its a programming / systems integration nightmare for a feature that very few people might require. Mint.com is able to…"},{"t":"What features does Standard Chartered’s Saadiq Visa credit card offer?","u":"what-features-does-standard-chartereds-saadiq-visa-credit-card-offer","c":"Islamic, Jewish and Faith-Based Finance","s":["Islamic Finance","Sharia Compliance"],"p":["Indian Rupee","Pakistani Rupee"],"d":"2012-10-12","x":"The fixed fee is structured on your limit. Typically if you have been allocated say Rs. 100,000, your fees could be…"},{"t":"What features are offered by Standard Chartered’s Saadiq Visa Credit Card?","u":"what-features-are-offered-by-standard-chartereds-saadiq-visa-credit-card","c":"Islamic, Jewish and Faith-Based Finance","s":["Islamic Finance","Sharia Compliance"],"p":["Indian Rupee","Pakistani Rupee"],"d":"2012-10-12","x":"The fixed fee is structured on your limit. Typically if you have been allocated say Rs. 100,000, your fees could be…"},{"t":"How do central banks account for or replace lost or destroyed currency?","u":"how-do-central-banks-account-for-or-replace-lost-or-destroyed-currency","c":"Central Banks and Bank Supervision","s":["Central Banks","Banking Economics"],"p":[],"d":"2012-10-11","x":"The Central Bank does not estimate this. The money has already been lent to Banks, and banks in turn have already given…"},{"t":"How many times is it possible to fold a dollar bill?","u":"how-many-times-is-it-possible-to-fold-a-dollar-bill","c":"Payments (General)","s":["Cash","Cash Handling"],"p":["United States Dollar"],"d":"2012-10-11","x":"About 4,000 times before it will tear (if that is what you are asking). Source: http://www.fleur-de-coin.com/coi..."},{"t":"Is it better to incorporate locally or operate as a U.S.-registered business abroad?","u":"is-it-better-to-incorporate-locally-or-operate-as-a-us-registered-business-abroad","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["India","Philippines"],"d":"2012-10-11","x":"There isn\u0026#39;t one specific mobile app for money transfer. It would all depend on the following: Remitter country…"},{"t":"Which banks are best suited for companies running international e-commerce stores?","u":"which-banks-are-best-suited-for-companies-running-international-e-commerce-stores","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Facilitators (PayFac)"],"p":[],"d":"2012-10-11","x":"Building an online cash equivalent, may seem interesting and easy whilst standing in front of a whiteboard with a…"},{"t":"Is there an API for moving funds between a customer’s checking and savings accounts?","u":"is-there-an-api-for-moving-funds-between-a-customers-checking-and-savings-accounts","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Banking APIs","Payment APIs"],"p":["Africa","Global South"],"d":"2012-10-11","x":"You can look at Daopay ( www.daopay.com ) they cover Zimbabwe."},{"t":"Which mobile apps are considered the best for sending money internationally?","u":"which-mobile-apps-are-considered-the-best-for-sending-money-internationally","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["India","Philippines"],"d":"2012-10-11","x":"There isn\u0026#39;t one specific mobile app for money transfer. It would all depend on the following: Remitter country…"},{"t":"Why isn’t a Dwolla-style bank transfer system available in the UK?","u":"why-isnt-a-dwolla-style-bank-transfer-system-available-in-the-uk","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Account-to-Account Payments"],"p":["Developed Markets","EMEA"],"d":"2012-10-11","x":"Building an online cash equivalent, may seem interesting and easy whilst standing in front of a whiteboard with a…"},{"t":"What mobile payment systems work best for e-commerce in countries with low card usage?","u":"what-mobile-payment-systems-work-best-for-e-commerce-in-countries-with-low-card-usage","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":["Africa","Emerging Markets"],"d":"2012-10-11","x":"You can look at Daopay ( www.daopay.com ) they cover Zimbabwe."},{"t":"How would you approach creating an online payment processing company that operates internationally?","u":"how-would-you-approach-creating-an-online-payment-processing-company-that-operates-internationally","c":"Starting and Running a Fintech or Payments Business","s":["Starting a Fintech or Payments Company","Entrepreneurship in Finance"],"p":[],"d":"2012-10-10","x":"First of all it would depend which geographic region you are operating out of? Certain countries/geographic-regions…"},{"t":"I’ve become interested in global economics—what should I read to deepen my understanding?","u":"ive-become-interested-in-global-economicswhat-should-i-read-to-deepen-my-understanding","c":"Economics, Inflation and Monetary Policy","s":["Macroeconomics","Economic Trends"],"p":[],"d":"2012-10-10","x":"Knowing more about world economics is knowing (i.e. reading) more in detail both on a marco and micro level on different…"},{"t":"What could be a strong USP for a new US-to-India online money transfer service?","u":"what-could-be-a-strong-usp-for-a-new-us-to-india-online-money-transfer-service","c":"Money Transfer Business and MTOs","s":["Starting a Remittance Business","Digital MTOs"],"p":["Asia","India"],"d":"2012-10-09","x":"Couple of areas you can look into: Lesser time frame to transfer to money Ability to do a direct deposit into the…"},{"t":"Which are the largest privately held companies globally?","u":"which-are-the-largest-privately-held-companies-globally","c":"General Finance Questions","s":["General","Company Comparisons"],"p":["United States Dollar"],"d":"2012-10-09","x":"You can see a list here: http://en.wikipedia.org/wiki/Lis... The largest private company in the world seems to be Vitol…"},{"t":"Has the U.S. government ever acquired private companies?","u":"has-the-us-government-ever-acquired-private-companies","c":"General Finance Questions","s":["General","General Finance Questions"],"p":["United States"],"d":"2012-10-09","x":"To the very best of my knowledge, the US Government cannot engage in that practice. The federal RFP process is made…"},{"t":"What are the steps to launch a commercial bank?","u":"what-are-the-steps-to-launch-a-commercial-bank","c":"Central Banks and Bank Supervision","s":["New Banking Licenses","Bank Charters"],"p":["United States"],"d":"2012-10-09","x":"U.S. Federal Reserve has a section devoted on their website specifically for this purpose.…"},{"t":"What are the basic steps involved in starting a commercial bank?","u":"what-are-the-basic-steps-involved-in-starting-a-commercial-bank","c":"Central Banks and Bank Supervision","s":["Bank Charters","New Banking Licenses"],"p":["United States"],"d":"2012-10-09","x":"U.S. Federal Reserve has a section devoted on their website specifically for this purpose.…"},{"t":"What are the top resources for learning about India’s online and mobile payments industry?","u":"what-are-the-top-resources-for-learning-about-indias-online-and-mobile-payments-industry","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Learning Resources","Content"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-10-08","x":"Honestly, Quora is a great resource. Another great resource to learn about the various payment systems, etc. is the…"},{"t":"What is the most cost-effective way to make recurring international transfers of large amounts?","u":"what-is-the-most-cost-effective-way-to-make-recurring-international-transfers-of-large-amounts","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Large International Transfers"],"p":[],"d":"2012-10-08","x":"Wire Transfer would be your best option. If your Customer can bank with an American Bank overseas (I am assuming you are…"},{"t":"How can you add an email signature that’s professional but not pretentious?","u":"how-can-you-add-an-email-signature-thats-professional-but-not-pretentious","c":"General Finance Questions","s":["General"],"p":[],"d":"2012-10-08","x":"I have recently started adding only the following: Full Name Designation | Company Name URL The URL contains all my…"},{"t":"What’s the most affordable way to send large recurring international transfers?","u":"whats-the-most-affordable-way-to-send-large-recurring-international-transfers","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Outward Remittances"],"p":[],"d":"2012-10-08","x":"Wire Transfer would be your best option. If your Customer can bank with an American Bank overseas (I am assuming you are…"},{"t":"Are there tax implications when transferring funds internationally using card payments between offices?","u":"are-there-tax-implications-when-transferring-funds-internationally-using-card-payments-between-offic","c":"Tax and Financial Reporting","s":["Taxation of Payments","Tax"],"p":[],"d":"2012-10-07","x":"If you are running the transaction via your Merchant Account, come tax season, how would you classify the transaction?…"},{"t":"Are there tax implications when transferring money internationally via credit or debit card?","u":"are-there-tax-implications-when-transferring-money-internationally-via-credit-or-debit-card","c":"Tax and Financial Reporting","s":["Taxation of Payments","Tax"],"p":[],"d":"2012-10-07","x":"If you are running the transaction via your Merchant Account, come tax season, how would you classify the transaction?…"},{"t":"What are examples of well-known non-monetary forms of currency?","u":"what-are-examples-of-well-known-non-monetary-forms-of-currency","c":"Bitcoin and Cryptocurrency Basics","s":["Cryptocurrency Basics"],"p":["Bitcoin"],"d":"2012-10-04","x":"Lots, all you need to do is Google \u0026#34;Bitcoin\u0026#34; :) Additionally, there were some great articles written in Wired (IIRC) on…"},{"t":"Which U.S. laws forbid producing or circulating counterfeit foreign currency?","u":"which-us-laws-forbid-producing-or-circulating-counterfeit-foreign-currency","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Law","Financial Services Law"],"p":["United States"],"d":"2012-10-04","x":"For counterfeiting anything that is US currency based, there is a very specific law for this. Manufacturing counterfeit…"},{"t":"Is sending money from the United States to Iran legally permitted?","u":"is-sending-money-from-the-united-states-to-iran-legally-permitted","c":"Sanctions, Embargoes and Screening","s":["Sanctions","Sanctions Compliance"],"p":["Iran","Restricted Jurisdictions"],"d":"2012-10-04","x":"Its mostly illegal, some exceptions are allowed. This page provides comprehensive details as to what is illegal or not,…"},{"t":"What expenses does a bank incur when processing wire transfers?","u":"what-expenses-does-a-bank-incur-when-processing-wire-transfers","c":"Payment Operations, Pricing and Fees","s":["Payment Operations","Payment Pricing"],"p":[],"d":"2012-10-04","x":"The cost for a Wire Transfer depends where in the world the wire transfer is being done. Is it being initiated on a…"},{"t":"What steps are required to build a new payment gateway?","u":"what-steps-are-required-to-build-a-new-payment-gateway","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2012-10-04","x":"The legal process depends where in the world you are starting your payment gateway from. In certain countries, payment…"},{"t":"Money Transfers: Which startups offer remittance services from the US/UK to India?","u":"money-transfers-which-startups-offer-remittance-services-from-the-usuk-to-india","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Remittance Agents"],"p":["India","Indian Subcontinent"],"d":"2012-10-02","x":"Remittance setups into India are regulated by the Reserve Bank of India (RBI). In traditional remittance setups, money…"},{"t":"When a reimbursement form asks for my bank’s address, which one should I provide if I use Bank of America?","u":"when-a-reimbursement-form-asks-for-my-banks-address-which-one-should-i-provide-if-i-use-bank-of-amer","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2012-09-12","x":"You typically always use the address of the actual branch in which your account is located/opened."},{"t":"How difficult is it to start an ATM business in an emerging market with limited ATM availability, and what risks should be anticipated?","u":"how-difficult-is-it-to-start-an-atm-business-in-an-emerging-market-with-limited-atm-availability-and","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance","Starting a Fintech or Payments Company"],"p":[],"d":"2012-09-12","x":"In no particular order, here are some issues you need to be aware of: Landed cost of an ATM Machine (think Import…"},{"t":"How much time does Wells Fargo require to move funds between two different accounts?","u":"how-much-time-does-wells-fargo-require-to-move-funds-between-two-different-accounts","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Payment Clearing"],"p":[],"d":"2012-09-12","x":"Two separate accounts within Wells-Fargo - instantaneous. Two separate account with Wells-Fargo being one bank and the…"},{"t":"Can a non-Indian citizen invest in a fixed deposit at an Indian bank?","u":"can-a-non-indian-citizen-invest-in-a-fixed-deposit-at-an-indian-bank","c":"Opening Bank Accounts, Personal and Business","s":["Opening Accounts as a Non-Resident"],"p":["India","Indian Rupee"],"d":"2012-09-12","x":"Yes they can (See http://www.rbi.org.in/scripts/FA... ) However, the FI on USD is very low worldwide, not just India. If…"},{"t":"Why does the RBI enforce strict rules that restrict Indians from making specific types of PayPal payments?","u":"why-does-the-rbi-enforce-strict-rules-that-restrict-indians-from-making-specific-types-of-paypal-pay","c":"Sending and Receiving Money Abroad","s":["Outward Remittances","Sending Money Abroad (Consumer)"],"p":["Bhutan","FEMA"],"d":"2012-09-12","x":"There are many reasons for this, for which PayPal would have to make drastic changes. Only licensed FIs in India are…"},{"t":"What are the best practices for notifying a merchant that a payment has been completed?","u":"what-are-the-best-practices-for-notifying-a-merchant-that-a-payment-has-been-completed","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2012-09-12","x":"Email. A digitally signed email (think: non-repudiation). Also maintain a set of transaction logs internally, again…"},{"t":"What’s the best way to learn the mobile payments landscape?","u":"whats-the-best-way-to-learn-the-mobile-payments-landscape","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Learning Resources","Training"],"p":[],"d":"2012-09-12","x":"I\u0026#39;ve always felt the best learning you can get is via product demos. Research for companies in the mobile payment space…"},{"t":"What is the best way to learn and stay updated about the mobile payments ecosystem?","u":"what-is-the-best-way-to-learn-and-stay-updated-about-the-mobile-payments-ecosystem","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Learning Resources","Training"],"p":[],"d":"2012-09-12","x":"I\u0026#39;ve always felt the best learning you can get is via product demos. Research for companies in the mobile payment space…"},{"t":"What is a merchant aggregator or payments aggregator?","u":"what-is-a-merchant-aggregator-or-payments-aggregator","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2012-09-11","x":"What you are describing (if I read it correctly) is the ability to have the money collected on your merchant account to…"},{"t":"What new or growing niches are appearing in the credit card processing sector?","u":"what-new-or-growing-niches-are-appearing-in-the-credit-card-processing-sector","c":"Card Networks and Card Issuing","s":["Cross-Border Card Transactions","Card Schemes and Networks"],"p":[],"d":"2012-09-11","x":"Using the Mastercard / VISA network for making cross-border payments (instantaneously) using the concept of one-time…"},{"t":"Can I send money from the U.S. to Russia using PayPal or a similar service?","u":"can-i-send-money-from-the-us-to-russia-using-paypal-or-a-similar-service","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["CIS Countries","Developed Markets"],"d":"2012-09-10","x":"Of course you can. If opting for PayPal, then needless to say, the receiving party also needs PayPal. If opting for…"},{"t":"What are good options for a U.S. startup with low volume and ticket size to accept online payments?","u":"what-are-good-options-for-a-us-startup-with-low-volume-and-ticket-size-to-accept-online-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Americas","Developed Markets"],"d":"2012-09-10","x":"PayPal is the most preferred. You can also look at Braintree Payments (see: http://www.braintreepayments.com/ ). There…"},{"t":"What are notable success stories of SaaS customer support?","u":"what-are-notable-success-stories-of-saas-customer-support","c":"Business Strategy, Case Studies and Lessons Learned","s":["Success Stories","Case Studies"],"p":[],"d":"2012-09-10","x":"Hands down 37signals.com is perhaps the best success story that comes to mind first."},{"t":"How can I start selling SaaS products outside the U.S.?","u":"how-can-i-start-selling-saas-products-outside-the-us","c":"Business Strategy, Case Studies and Lessons Learned","s":["Market Entry Strategy","Go-to-Market"],"p":[],"d":"2012-09-10","x":"Your best bet is to start Google Adsense advertising in these countries to gain attraction and attention. In addition to…"},{"t":"What are the top SaaS products for security?","u":"what-are-the-top-saas-products-for-security","c":"Cybersecurity, Digital Identity and Authentication","s":["Cybersecurity","Data Security"],"p":[],"d":"2012-09-10","x":"Some Cloud Security companies that are SaaS based: Web Application Firewalls \u0026amp; protection: Cloudflare (…"},{"t":"Is it better to operate abroad as a local entity or as a U.S.-registered company?","u":"is-it-better-to-operate-abroad-as-a-local-entity-or-as-a-us-registered-company","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Legal Entity Formation by Jurisdiction","Company Formation"],"p":[],"d":"2012-09-10","x":"Very subjective question. The answer would be, it depends on the country in question. Each country has its own…"},{"t":"Which banks are well-suited for international e-commerce businesses?","u":"which-banks-are-well-suited-for-international-e-commerce-businesses","c":"Merchant Accounts, Processors and Gateways","s":["Acquiring Banks"],"p":[],"d":"2012-09-10","x":"I find it really odd that Citibank or HSBC would require you to be in a certain geographical region to operate with them…"},{"t":"Is it possible to send money from the US to Russia using PayPal or similar services?","u":"is-it-possible-to-send-money-from-the-us-to-russia-using-paypal-or-similar-services","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Restricted Jurisdictions","Russia"],"d":"2012-09-10","x":"Of course you can. If opting for PayPal, then needless to say, the receiving party also needs PayPal. If opting for…"},{"t":"What payment solutions work best for low-volume, low-value startups in the United States?","u":"what-payment-solutions-work-best-for-low-volume-low-value-startups-in-the-united-states","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Americas","Developed Markets"],"d":"2012-09-10","x":"PayPal is the most preferred. You can also look at Braintree Payments (see: http://www.braintreepayments.com/ ). There…"},{"t":"Which payment processors support outbound money transfers?","u":"which-payment-processors-support-outbound-money-transfers","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Card Payments"],"p":[],"d":"2012-09-09","x":"To the best of my knowledge, only the issuing bank can credit (or load) a card up, without the card having been charged.…"},{"t":"Which payment processors support outbound or mass payouts?","u":"which-payment-processors-support-outbound-or-mass-payouts","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Card Payments"],"p":[],"d":"2012-09-09","x":"To the best of my knowledge, only the issuing bank can credit (or load) a card up, without the card having been charged.…"},{"t":"What is the smoothest and least expensive way to issue ACH payments for an online marketplace?","u":"what-is-the-smoothest-and-least-expensive-way-to-issue-ach-payments-for-an-online-marketplace","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Marketplace Payments"],"p":[],"d":"2012-09-08","x":"Well any provider that is going to provide you with a platform to conduct ACH payments, will require that the Sender is…"},{"t":"What are the cheapest available methods for international money transfers?","u":"what-are-the-cheapest-available-methods-for-international-money-transfers","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2012-09-08","x":"Western Union / Moneygram would be the cheapest for sub $300 transactions. You will lose about 2%-4% on the transfer…"},{"t":"How many MoneyGram agents operate in the US, Mexico, and worldwide?","u":"how-many-moneygram-agents-operate-in-the-us-mexico-and-worldwide","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Remittance Agents"],"p":["Americas","Mexico"],"d":"2012-09-08","x":"They have 232,000 agents worldwide (in 191 countries). However, they do not give a breakdown of their agents anywhere."},{"t":"What does the regulatory landscape look like for mobile payments?","u":"what-does-the-regulatory-landscape-look-like-for-mobile-payments","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensable Activities","Licensing Strategy"],"p":[],"d":"2012-09-08","x":"It would certainly help to know which country you are interested in. In most cases/countries you would need a banking…"},{"t":"How large is the global international money transfer market?","u":"how-large-is-the-global-international-money-transfer-market","c":"Money Transfer Business and MTOs","s":["MTO Economics","Money Transfer Operators (MTO)"],"p":[],"d":"2012-09-08","x":"The remittance market with utilizes money transfer as the vehicle for sending money is US$ 325 Billion for the year 2010…"},{"t":"What are the lowest-cost methods for transferring money internationally?","u":"what-are-the-lowest-cost-methods-for-transferring-money-internationally","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2012-09-08","x":"Western Union / Moneygram would be the cheapest for sub $300 transactions. You will lose about 2%-4% on the transfer…"},{"t":"How many agents does MoneyGram operate in the U.S., Mexico, and worldwide?","u":"how-many-agents-does-moneygram-operate-in-the-us-mexico-and-worldwide","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Remittance Agents"],"p":["Americas","Mexico"],"d":"2012-09-08","x":"They have 232,000 agents worldwide (in 191 countries). However, they do not give a breakdown of their agents anywhere."},{"t":"What regulations govern mobile payment systems?","u":"what-regulations-govern-mobile-payment-systems","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensable Activities","Licensing Documentation"],"p":[],"d":"2012-09-08","x":"It would certainly help to know which country you are interested in. In most cases/countries you would need a banking…"},{"t":"What’s the size of the global money transfer market?","u":"whats-the-size-of-the-global-money-transfer-market","c":"Money Transfer Business and MTOs","s":["MTO Economics","Money Transfer Operators (MTO)"],"p":[],"d":"2012-09-08","x":"The remittance market with utilizes money transfer as the vehicle for sending money is US$ 325 Billion for the year 2010…"},{"t":"If you had $1M for a business (no storefront allowed), what would you launch?","u":"if-you-had-1m-for-a-business-no-storefront-allowed-what-would-you-launch","c":"Business Strategy, Case Studies and Lessons Learned","s":["Startup Advice","Business Models"],"p":["United States Dollar"],"d":"2012-09-08","x":"Plastic Medical Device Manufacturing. Uses low labor, simple to license, produce, assemble and export."},{"t":"What would need to change for retail banks to begin processing electronic transactions on weekends and public holidays?","u":"what-would-need-to-change-for-retail-banks-to-begin-processing-electronic-transactions-on-weekends-a","c":"Central Banks and Bank Supervision","s":["Central Bank Policy","Central Banks"],"p":[],"d":"2012-09-07","x":"Federal Reserve Policy . The Fed banking system in your area is what regulates them and only they can instill upon banks…"},{"t":"As an Indian tech-support startup, how can we integrate directly with payment gateways without relying on third-party processors?","u":"as-an-indian-tech-support-startup-how-can-we-integrate-directly-with-payment-gateways-without-relyin","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-09-07","x":"Have you looked at 2Checkout.com , 2CO for short (See www.2checkout.com )? They work with 1000s of Indian companies and…"},{"t":"What is the smoothest method for switching banks when you have numerous automatic payments tied to your old account?","u":"what-is-the-smoothest-method-for-switching-banks-when-you-have-numerous-automatic-payments-tied-to-y","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Consumer Payment Problems","Online Banking"],"p":[],"d":"2012-09-07","x":"If you have setup external payments to hit your account, there is no easy way to change that. You will have to manually…"},{"t":"Do any online store builders or ecommerce platforms offer multi-currency credit card processing?","u":"do-any-online-store-builders-or-ecommerce-platforms-offer-multi-currency-credit-card-processing","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Platform Payments"],"p":[],"d":"2012-09-07","x":"You might want to look at BigCommerce (See http://v2.bigcommerce.com/ ). They have multi-currency support in their…"},{"t":"What are the most effective methods to start and finalize an offline transaction through online channels?","u":"what-are-the-most-effective-methods-to-start-and-finalize-an-offline-transaction-through-online-chan","c":"Payments (General)","s":["Payment Products","Payment Basics"],"p":[],"d":"2012-09-07","x":"You might want to look at Freshbooks or Xero - they both are Invoice management softwares, you can record your…"},{"t":"What’s the most effective way to find and attract new clients?","u":"whats-the-most-effective-way-to-find-and-attract-new-clients","c":"Business Strategy, Case Studies and Lessons Learned","s":["Go-to-Market","Business Insights"],"p":[],"d":"2012-09-07","x":"It would help if you can tell us the business youre in."},{"t":"What challenges might PayPal encounter if it increased its monthly sending limit to $50,000?","u":"what-challenges-might-paypal-encounter-if-it-increased-its-monthly-sending-limit-to-50000","c":"AML Programs, KYC and Compliance Operations","s":["AML Policies and Procedures","Transaction Monitoring"],"p":[],"d":"2012-09-06","x":"PayPal can surely increase the spending limit, the issue that come to mind now in this day and age are predominantly (a)…"},{"t":"Why are bank transfers and credit card payments not processed during weekends?","u":"why-are-bank-transfers-and-credit-card-payments-not-processed-during-weekends","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Clearing","Payment Infrastructure"],"p":[],"d":"2012-09-04","x":"Each bank operates and settles transfers as per their own schedule. You should be able to ask your bank how settlements…"},{"t":"What features define the ideal electronic payment service?","u":"what-features-define-the-ideal-electronic-payment-service","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":[],"d":"2012-09-03","x":"Bradley Wilkes pretty much covers it. Two important aspects I would like to add to the list are: Compliant , the system…"},{"t":"Which U.S. retail bank offers the strongest international banking support?","u":"which-us-retail-bank-offers-the-strongest-international-banking-support","c":"How Banks Work","s":["Banks","International Banking"],"p":[],"d":"2012-09-02","x":"Citibank would perhaps be your best bank. They understand \u0026#34;International\u0026#34; part of banking better than anyone else, even…"},{"t":"Is it wise to keep spare foreign currency to resell later to people traveling to that country?","u":"is-it-wise-to-keep-spare-foreign-currency-to-resell-later-to-people-traveling-to-that-country","c":"FX Rates, Spreads and Currency Markets","s":["Currency Exchange","Foreign Exchange (FX)"],"p":["British Pound Sterling"],"d":"2012-09-02","x":"Sure, it is never a bad idea. The only problem is how do you find people who are travelling to the country, whose…"},{"t":"Is it lawful to send money to someone via PayPal for the purpose of them passing the cash to another person?","u":"is-it-lawful-to-send-money-to-someone-via-paypal-for-the-purpose-of-them-passing-the-cash-to-another","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Financial Services Law","Law"],"p":[],"d":"2012-09-01","x":"As long as the transaction does not violate PayPal\u0026#39;s AUP (See https://cms.paypal.com/us/cgi-bi... ) \u0026amp;/or PayPal - User…"},{"t":"I’m relocating from India to San Francisco—what type of bank account should I open to enable smooth money transfers?","u":"im-relocating-from-india-to-san-franciscowhat-type-of-bank-account-should-i-open-to-enable-smooth-mo","c":"Opening Bank Accounts, Personal and Business","s":["US Bank Accounts for Foreigners","Bank Account Opening"],"p":["Developed Markets","India"],"d":"2012-09-01","x":"Any decent size bank is good enough to move money into, if coming from India. Bank of America and Wells-Fargo are two…"},{"t":"What is the production cost of a typical credit card terminal?","u":"what-is-the-production-cost-of-a-typical-credit-card-terminal","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","POS Terminals"],"p":["Asia","China"],"d":"2012-09-01","x":"Based on a consultancy I was involved with, for procurement of 250,000 terminals, the OEM cost from China for something…"},{"t":"Is it possible to open a U.S. checking account without physically traveling to the United States?","u":"is-it-possible-to-open-a-us-checking-account-without-physically-traveling-to-the-united-states","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Opening Accounts as a Non-Resident"],"p":["Americas","Developed Markets"],"d":"2012-09-01","x":"Short Answer: No Long Answer: Today, with all the KYC and BSA regulations, you cannot open a bank account int he US, be…"},{"t":"Do AML regulations genuinely help curb white-collar crime?","u":"do-aml-regulations-genuinely-help-curb-white-collar-crime","c":"Money Laundering and Financial Crime","s":["Financial Crime","Financial Crime Enforcement"],"p":[],"d":"2012-08-12","x":"Money Laundering is a sub-set of white-collar crime. Its one of the many facets. But yes, any anti-crime curbing effort…"},{"t":"Do policymakers account for the increasing shift toward digital payments when deciding how much physical currency to print?","u":"do-policymakers-account-for-the-increasing-shift-toward-digital-payments-when-deciding-how-much-phys","c":"Economics, Inflation and Monetary Policy","s":["Currency","Monetary Policy"],"p":[],"d":"2012-08-11","x":"Yes. They are very well cognizant of this fact. In fact only 3% of the money is actually in the form of Currency Bills.…"},{"t":"I have excess money and am unsure how to use it—what are some ways I could spend it?","u":"i-have-excess-money-and-am-unsure-how-to-use-itwhat-are-some-ways-i-could-spend-it","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy"],"p":[],"d":"2012-08-11","x":"Donate to local and national/international charities ...and if you really want to see your money at work. Buy…"},{"t":"What consequences might arise from Standard Chartered’s alleged involvement in Iranian money-laundering schemes?","u":"what-consequences-might-arise-from-standard-chartereds-alleged-involvement-in-iranian-money-launderi","c":"Regulators, Enforcement and Regulatory Change","s":["Regulatory Enforcement","Regulatory Penalties"],"p":["Asia","Iran"],"d":"2012-08-11","x":"For SCB: Worst-case Scenario: Suspension of its Banking License. Hefty Fine. Possible freezing of its assets (though…"},{"t":"Should the public direct moral criticism toward banks such as Standard Chartered or HSBC?","u":"should-the-public-direct-moral-criticism-toward-banks-such-as-standard-chartered-or-hsbc","c":"Geopolitics of Money and the International Monetary System","s":["Geopolitics of Money","Sanctions Policy"],"p":["Iran","Middle East"],"d":"2012-08-11","x":"The answer is indeed both simple and complex. Its simple from the viewpoint that if you are indeed doing money…"},{"t":"ACH: Is it possible to withdraw funds from a bank account using only the routing and account number, provided you have the customer’s authorization?","u":"ach-is-it-possible-to-withdraw-funds-from-a-bank-account-using-only-the-routing-and-account-number-p","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2012-08-11","x":"From an ACH (ACH) point of view, just Bank Account and Routing number does not suffice. You would need the Name (as it…"},{"t":"Where can I locate the bank-by-mail addresses for major U.S. banks without having to call each institution?","u":"where-can-i-locate-the-bank-by-mail-addresses-for-major-us-banks-without-having-to-call-each-institu","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Payment Routing"],"p":["Americas","Developed Markets"],"d":"2012-08-10","x":"ACH processors usually have such a list. There are about 9,000 or so (give or take) bank branches in the US, covering…"},{"t":"Is there an API to move funds between a customer’s checking and savings accounts?","u":"is-there-an-api-to-move-funds-between-a-customers-checking-and-savings-accounts","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Banking APIs","Payment APIs"],"p":["Asia","Developed Markets"],"d":"2012-08-10","x":"Banks usually do not provide any API for security reasons. Almost all the major US/European and Asian banks do not…"},{"t":"How can non-U.S. businesses use Authorize.net?","u":"how-can-non-us-businesses-use-authorizenet","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Restricted Jurisdictions"],"d":"2012-08-10","x":"Non-US businesses usually do not qualify for an Authorize.net account. If someone is selling one to you, they are…"},{"t":"Is there an API that allows transfers between a customer’s checking and savings accounts?","u":"is-there-an-api-that-allows-transfers-between-a-customers-checking-and-savings-accounts","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Banking APIs","Payment APIs"],"p":["Asia","Developed Markets"],"d":"2012-08-10","x":"Banks usually do not provide any API for security reasons. Almost all the major US/European and Asian banks do not…"},{"t":"How do non-US businesses typically integrate and use Authorize.net?","u":"how-do-non-us-businesses-typically-integrate-and-use-authorizenet","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2012-08-10","x":"Non-US businesses usually do not qualify for an Authorize.net account. If someone is selling one to you, they are…"},{"t":"How does American Express FX International Payments compare to options like Xoom?","u":"how-does-american-express-fx-international-payments-compare-to-options-like-xoom","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2012-08-09","x":"Xoom is slightly more expensive than American Express. Amex\u0026#39;s international exchange rates would be better than Xoom,…"},{"t":"How does American Express FX International Payments compare to services like Xoom?","u":"how-does-american-express-fx-international-payments-compare-to-services-like-xoom","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2012-08-09","x":"Xoom is slightly more expensive than American Express. Amex\u0026#39;s international exchange rates would be better than Xoom,…"},{"t":"What are the typical salary levels across different regions of the world?","u":"what-are-the-typical-salary-levels-across-different-regions-of-the-world","c":"Careers, Jobs and Working in Finance","s":["Employment","Jobs"],"p":[],"d":"2012-08-08","x":"Have a look at the Key Indicators of the Labour Market Database http://kilm.ilo.org/kilmnet/ More information can be…"},{"t":"Why has Google decided not to operate as a commercial bank?","u":"why-has-google-decided-not-to-operate-as-a-commercial-bank","c":"Fintech, BaaS and Embedded Finance","s":["Fintech Business Models","Fintech Industry"],"p":["Americas","Developed Markets"],"d":"2012-08-08","x":"Presumably because with the fractional reserve banking system being used in the US, the ability to create money hinges…"},{"t":"What is the central-bank-assigned Bank Code called in India, and where can I locate it?","u":"what-is-the-central-bank-assigned-bank-code-called-in-india-and-where-can-i-locate-it","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Routing","Payment Infrastructure"],"p":["Asia","India"],"d":"2012-08-08","x":"If you are referring to the SWIFT Codes for Indian Banks, you can find the list here:…"},{"t":"What qualifications are needed to operate as an acquiring bank that processes credit and debit card transactions?","u":"what-qualifications-are-needed-to-operate-as-an-acquiring-bank-that-processes-credit-and-debit-card","c":"Card Networks and Card Issuing","s":["Card Schemes and Networks","Visa"],"p":[],"d":"2012-08-08","x":"Mastercard and VISA both have their separate long list of compliance and regulatory documents to become an acquirer.…"},{"t":"For a freelance marketplace similar to Elance/O-Desk, what is an affordable alternative to a traditional escrow service?","u":"for-a-freelance-marketplace-similar-to-elanceo-desk-what-is-an-affordable-alternative-to-a-tradition","c":"E-Commerce, Marketplace and Platform Payments","s":["Marketplace Payments","Platform Payments"],"p":[],"d":"2012-08-08","x":"I would have to agree with Yogesh Dhingra - Credits can make all the difference, especially if they are encashable as…"},{"t":"I have $250K in a low-interest savings account—what’s the best investment approach while keeping $25K liquid?","u":"i-have-250k-in-a-low-interest-savings-accountwhats-the-best-investment-approach-while-keeping-25k-li","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Personal Investing","Financial Literacy"],"p":[],"d":"2012-07-11","x":"Its a buyers market. Invest in Property. Rent it out. Forget about it for a couple of years and your investment will…"},{"t":"What is the most efficient method to convert EUR from Ireland into USD in the United States?","u":"what-is-the-most-efficient-method-to-convert-eur-from-ireland-into-usd-in-the-united-states","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Euro","Europe"],"d":"2012-07-09","x":"SWIFT Wire Transfer would be the safest and most convenient bet. The rates offered by banks for Wire transfer from Euros…"},{"t":"Money Transfers: What share of the U.S. domestic market do Western Union and MoneyGram hold?","u":"money-transfers-what-share-of-the-us-domestic-market-do-western-union-and-moneygram-hold","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Western Union"],"p":["Americas","Developed Markets"],"d":"2012-07-09","x":"That information is not published. I have looked for this information and even asked them both. They don\u0026#39;t publish this…"},{"t":"What details must you provide to send an ACH money transfer?","u":"what-details-must-you-provide-to-send-an-ach-money-transfer","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2012-07-09","x":"Beneficiary Name, Name of Bank/Address, Account Number, ABA Number (Sort Code), Amount."},{"t":"Can BACS payments between UK banks be reversed after showing in the recipient’s account?","u":"can-bacs-payments-between-uk-banks-be-reversed-after-showing-in-the-recipients-account","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Bacs","UK Payment Schemes"],"p":["Developed Markets","EMEA"],"d":"2012-07-09","x":"Yes, its true. The UK Bacs payment system and its governing law (as approved by FSA) is such, that there isn\u0026#39;t a…"},{"t":"What changes are expected in international money transfers over the next five years?","u":"what-changes-are-expected-in-international-money-transfers-over-the-next-five-years","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2012-07-09","x":"This is an excellent question and there are many companies who believe they are shaping this answer (predominantly,…"},{"t":"Which Canadian companies are known for providing quality web hosting services?","u":"which-canadian-companies-are-known-for-providing-quality-web-hosting-services","c":"General Finance Questions","s":["Company Comparisons"],"p":["Americas","Canada"],"d":"2012-07-09","x":"iWeb - I believe they are Montreal based. See www.iweb.ca - Rock solid company, and if you can speak French, voila!"},{"t":"What beneficiary details are required to send money using the ACH system?","u":"what-beneficiary-details-are-required-to-send-money-using-the-ach-system","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2012-07-09","x":"Beneficiary Name, Name of Bank/Address, Account Number, ABA Number (Sort Code), Amount."},{"t":"Can a BACS payment between UK bank accounts be reversed after it appears in the recipient’s account?","u":"can-a-bacs-payment-between-uk-bank-accounts-be-reversed-after-it-appears-in-the-recipients-account","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Bacs","UK Payment Schemes"],"p":["Developed Markets","EMEA"],"d":"2012-07-09","x":"Yes, its true. The UK Bacs payment system and its governing law (as approved by FSA) is such, that there isn\u0026#39;t a…"},{"t":"How are international money transfers expected to evolve over the next five years?","u":"how-are-international-money-transfers-expected-to-evolve-over-the-next-five-years","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2012-07-09","x":"This is an excellent question and there are many companies who believe they are shaping this answer (predominantly,…"},{"t":"Is Bloomberg a well-known and influential company?","u":"is-bloomberg-a-well-known-and-influential-company","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Stock Markets","Securities"],"p":[],"d":"2012-07-09","x":"In one word: Yes! In the world of finance, especially financial markets, Bloomberg and ThomsonReuters are two brands…"},{"t":"Where can reliable data on global money flows be accessed?","u":"where-can-reliable-data-on-global-money-flows-be-accessed","c":"Economics, Inflation and Monetary Policy","s":["Macroeconomics","Economic Indicators"],"p":[],"d":"2012-07-09","x":"I doubt you would be able to find such information. Banks in each country settle with their central bank, and the…"},{"t":"What is the simplest way to accept payments for a side project?","u":"what-is-the-simplest-way-to-accept-payments-for-a-side-project","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Earning Money Online"],"p":[],"d":"2012-07-09","x":"PayPal Buy Now Buttons - (See more information: https://www.paypal.com/pdn-item ). You can even send the link to the…"},{"t":"What are the most affordable merchant account options available in India?","u":"what-are-the-most-affordable-merchant-account-options-available-in-india","c":"Merchant Accounts, Processors and Gateways","s":["Merchant Accounts","Payment Processors"],"p":["Asia","India"],"d":"2012-07-09","x":"A couple of options, your best route is to opt for an Indian based processor: CashWala ( www.cashwala.com ) IndiaPay (…"},{"t":"Where can you find reliable data on global money flows?","u":"where-can-you-find-reliable-data-on-global-money-flows","c":"Economics, Inflation and Monetary Policy","s":["Macroeconomics","Money Supply"],"p":[],"d":"2012-07-09","x":"I doubt you would be able to find such information. Banks in each country settle with their central bank, and the…"},{"t":"What’s the easiest way to accept payments for a personal side project?","u":"whats-the-easiest-way-to-accept-payments-for-a-personal-side-project","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Earning Money Online"],"p":[],"d":"2012-07-09","x":"PayPal Buy Now Buttons - (See more information: https://www.paypal.com/pdn-item ). You can even send the link to the…"},{"t":"What’s the best affordable merchant account option in India?","u":"whats-the-best-affordable-merchant-account-option-in-india","c":"Merchant Accounts, Processors and Gateways","s":["Merchant Accounts","Payment Processors"],"p":["Asia","India"],"d":"2012-07-09","x":"A couple of options, your best route is to opt for an Indian based processor: CashWala ( www.cashwala.com ) IndiaPay (…"},{"t":"If you use PayPal’s or Dwolla’s API to build an app linking payer and payee, do you require a Money Transmitter License, or are you covered by their licensing?","u":"if-you-use-paypals-or-dwollas-api-to-build-an-app-linking-payer-and-payee-do-you-require-a-money-tra","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensable Activities","Licensing Strategy"],"p":[],"d":"2012-07-08","x":"Agree with Peter Berg \u0026#39;s answer: Maybe. One thing for sure, you will need to register with FinCEN. To avoid the Money…"},{"t":"How can payments be accepted via SMS in Mexico?","u":"how-can-payments-be-accepted-via-sms-in-mexico","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":["Americas","Latin America"],"d":"2012-07-08","x":"You might want to check out Daopay, they seems to be in this niche. See http://www.daopay.com/"},{"t":"How can merchants in Mexico accept customer payments through SMS?","u":"how-can-merchants-in-mexico-accept-customer-payments-through-sms","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Americas","Latin America"],"d":"2012-07-08","x":"You might want to check out Daopay, they seems to be in this niche. See http://www.daopay.com/"},{"t":"What is the fastest legitimate way to earn one dollar online?","u":"what-is-the-fastest-legitimate-way-to-earn-one-dollar-online","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Earning Money Online","Income Streams"],"p":[],"d":"2012-07-07","x":"You really ought to look at the 30-Day Challenge (which is now called The Challenge). Their goal was to make a novice…"},{"t":"How can someone with no experience begin saving and investing from the ground up?","u":"how-can-someone-with-no-experience-begin-saving-and-investing-from-the-ground-up","c":"Personal and Consumer Finance, Budgeting and Saving","s":["Financial Literacy","Personal Investing"],"p":[],"d":"2012-07-07","x":"My advice to you would be first of all to learn about finance. We all self-assume we know everything about finance, but…"},{"t":"What’s the quickest and easiest way to earn a dollar online?","u":"whats-the-quickest-and-easiest-way-to-earn-a-dollar-online","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Earning Money Online","Income Streams"],"p":["United States Dollar"],"d":"2012-07-07","x":"You really ought to look at the 30-Day Challenge (which is now called The Challenge). Their goal was to make a novice…"},{"t":"Is there a simpler method for a Pakistani startup to accept PayPal and credit card payments?","u":"is-there-a-simpler-method-for-a-pakistani-startup-to-accept-paypal-and-credit-card-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":["Asia","Indian Subcontinent"],"d":"2012-07-04","x":"Paypal - No. Credit card payments. Yes. You can find literally 100s of 3rd party payment processors who would work with…"},{"t":"What fees are involved with ACH transfers, if any?","u":"what-fees-are-involved-with-ach-transfers-if-any","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2012-06-12","x":"For every cheque cleared, there will be a fees, varies from 35 cents to 60 cents (depending on your volume, etc.). Your…"},{"t":"How do you build a mobile banking app—what specs and bank documentation are needed, and can it be done with Ruby on Rails?","u":"how-do-you-build-a-mobile-banking-appwhat-specs-and-bank-documentation-are-needed-and-can-it-be-done","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2012-06-12","x":"Well for starters, you need to know encryption ans secure communication on app development. That would be one of the…"},{"t":"What fees are typically associated with ACH transactions?","u":"what-fees-are-typically-associated-with-ach-transactions","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2012-06-12","x":"For every cheque cleared, there will be a fees, varies from 35 cents to 60 cents (depending on your volume, etc.). Your…"},{"t":"How do you technically build a mobile banking app and what documentation is required from banks? Can it be built using Ruby on Rails?","u":"how-do-you-technically-build-a-mobile-banking-app-and-what-documentation-is-required-from-banks-can","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture","System Integration"],"p":[],"d":"2012-06-12","x":"Well for starters, you need to know encryption ans secure communication on app development. That would be one of the…"},{"t":"What is the purpose of writing “for deposit only” on a check when depositing it?","u":"what-is-the-purpose-of-writing-for-deposit-only-on-a-check-when-depositing-it","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2012-06-11","x":"In addition to the excellent answer by Gus Fuldner cheques everywhere around the world (usually) have Payee Name . This…"},{"t":"Is there a payment gateway that supports both Indian and international transactions? We currently use DirecPay, but it rejects cards with non-Indian billing addresses, forcing us to direct international customers to PayPal.","u":"is-there-a-payment-gateway-that-supports-both-indian-and-international-transactions-we-currently-use","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","India"],"d":"2012-06-11","x":"Quite a few payment providers in India . Here is a very small list - What is the best low-cost merchant account solution…"},{"t":"How can non-U.S. companies set up and use Authorize.net?","u":"how-can-non-us-companies-set-up-and-use-authorizenet","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["China","India"],"d":"2012-06-11","x":"The future of payments is a multi-facet solution and will remain so. There is no one clear winner. How it shapes out, is…"},{"t":"Will solutions like Square continue to play a role in the future of payments?","u":"will-solutions-like-square-continue-to-play-a-role-in-the-future-of-payments","c":"Payments (General)","s":["Payment Methods","Payment Industry Overview"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-06-11","x":"The future of payments is a multi-facet solution and will remain so. There is no one clear winner. How it shapes out, is…"},{"t":"Is there a payment gateway that can accept both Indian and international payments (including non-Indian billing addresses)?","u":"is-there-a-payment-gateway-that-can-accept-both-indian-and-international-payments-including-non-indi","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","India"],"d":"2012-06-11","x":"Quite a few payment providers in India . Here is a very small list - What is the best low-cost merchant account solution…"},{"t":"Near Field Communication (NFC): How does Poken generate revenue?","u":"near-field-communication-nfc-how-does-poken-generate-revenue","c":"Starting and Running a Fintech or Payments Business","s":["Payments Business Models"],"p":[],"d":"2012-06-09","x":"From the looks of it, it seems hardware + app access would be the main areas of income. The hardware part for sure.…"},{"t":"Online Payment Gateways and Processing: How does Venmo facilitate peer-to-peer transfers with no transaction fee?","u":"online-payment-gateways-and-processing-how-does-venmo-facilitate-peer-to-peer-transfers-with-no-tran","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":[],"d":"2012-06-09","x":"Two ways of looking at this answer... Speculative... If say the fees negotiated is 10 cents per transfer for…"},{"t":"What is a reliable payment processing solution for a small online store?","u":"what-is-a-reliable-payment-processing-solution-for-a-small-online-store","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-06-09","x":"Since they will be out of India, your best bet is to seek payment processors who are based in India itself. Granted they…"},{"t":"How does Poken make money using NFC?","u":"how-does-poken-make-money-using-nfc","c":"Starting and Running a Fintech or Payments Business","s":["Payments Business Models"],"p":[],"d":"2012-06-09","x":"From the looks of it, it seems hardware + app access would be the main areas of income. The hardware part for sure.…"},{"t":"How can Venmo offer peer-to-peer transactions without charging fees?","u":"how-can-venmo-offer-peer-to-peer-transactions-without-charging-fees","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Settlement Models"],"p":[],"d":"2012-06-09","x":"Two ways of looking at this answer... Speculative... If say the fees negotiated is 10 cents per transfer for…"},{"t":"How can someone get started in the bail bonds business?","u":"how-can-someone-get-started-in-the-bail-bonds-business","c":"Insurance and Risk Management","s":["Bonding","Surety"],"p":["Illinois","Kentucky"],"d":"2012-06-09","x":"Bail Bondmans is a licensed industry. Each state has its own criteria and it is usually governed by the Department of…"},{"t":"How many private U.S. companies exist, and what percent have 50 or fewer employees?","u":"how-many-private-us-companies-exist-and-what-percent-have-50-or-fewer-employees","c":"General Finance Questions","s":["General","General Finance Questions"],"p":["Americas","Developed Markets"],"d":"2012-06-09","x":"I\u0026#39;m not sure if that data is complied (it just might be). But as a reference, a rock-solid source for labor based…"},{"t":"What’s the best way to set up payment processing for a small e-commerce store?","u":"whats-the-best-way-to-set-up-payment-processing-for-a-small-e-commerce-store","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-06-09","x":"Since they will be out of India, your best bet is to seek payment processors who are based in India itself. Granted they…"},{"t":"How should small business owners use 15 minutes a day to market on social media?","u":"how-should-small-business-owners-use-15-minutes-a-day-to-market-on-social-media","c":"Business Strategy, Case Studies and Lessons Learned","s":["Go-to-Market","Advisory Services"],"p":[],"d":"2012-06-09","x":"I\u0026#39;d rather you spend those precious 15 minutes in talking to a company everyday to whom you might want to outsource your…"},{"t":"Why do stores require signatures on credit card receipts and swipe machines?","u":"why-do-stores-require-signatures-on-credit-card-receipts-and-swipe-machines","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Card Security"],"p":[],"d":"2012-06-09","x":"Audit purpose. Used to be that merchants were required two things of a credit card transaction: The actual swipe of the…"},{"t":"Which Canadian payment processors best support foreign currencies?","u":"which-canadian-payment-processors-best-support-foreign-currencies","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Americas","Canada"],"d":"2012-06-08","x":"Have a look at Beanstream - http://www.beanstream.com/"},{"t":"What is the maximum amount of cash banks typically allow for deposits?","u":"what-is-the-maximum-amount-of-cash-banks-typically-allow-for-deposits","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2012-06-08","x":"Legally speaking, you can deposit whatever amount you wish, however, it will definitely be flagged (i.e. reported) and…"},{"t":"Which Canadian payment processors handle foreign currencies most effectively?","u":"which-canadian-payment-processors-handle-foreign-currencies-most-effectively","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Americas","Canada"],"d":"2012-06-08","x":"Have a look at Beanstream - http://www.beanstream.com/"},{"t":"What major challenges do new Etsy sellers encounter?","u":"what-major-challenges-do-new-etsy-sellers-encounter","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments"],"p":[],"d":"2012-06-08","x":"Having helped three friends, here are their challenges: 1. Fragility of the goods (high percentage of goods were damaged…"},{"t":"Can an Italian shop resell goods bought from foreign websites?","u":"can-an-italian-shop-resell-goods-bought-from-foreign-websites","c":"E-Commerce, Marketplace and Platform Payments","s":["Cross-Border E-Commerce"],"p":["EMEA","Europe"],"d":"2012-06-08","x":"Why not? Nothing stops you from doing it. It all depends on the product you wish you market and if there is a demand for…"},{"t":"What’s the maximum amount of cash you can deposit at a bank?","u":"whats-the-maximum-amount-of-cash-you-can-deposit-at-a-bank","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2012-06-08","x":"Legally speaking, you can deposit whatever amount you wish, however, it will definitely be flagged (i.e. reported) and…"},{"t":"What is the fastest and most effective way for a nonprofit to accept credit cards online for memberships?","u":"what-is-the-fastest-and-most-effective-way-for-a-nonprofit-to-accept-credit-cards-online-for-members","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2012-06-07","x":"Especially for non-profits, the best merchant I can recommend is Click N Pledge. They would need your non-profit status…"},{"t":"What is the best method to send money directly to a relative’s overseas bank account?","u":"what-is-the-best-method-to-send-money-directly-to-a-relatives-overseas-bank-account","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Large International Transfers"],"p":[],"d":"2012-06-07","x":"Any other system, other than a wire transfer can possibly have two issues: 1. The transfer fee would be a percentage of…"},{"t":"Can debit cards be used to make mortgage payments in the United States?","u":"can-debit-cards-be-used-to-make-mortgage-payments-in-the-united-states","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards"],"p":["Americas","Developed Markets"],"d":"2012-06-07","x":"A debit card will deduct the amount from your bank account, so you must be having the balance in your account. Why not…"},{"t":"What happens if a check is written for a negative amount and someone tries to cash it?","u":"what-happens-if-a-check-is-written-for-a-negative-amount-and-someone-tries-to-cash-it","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2012-06-07","x":"It will not be cashed and returned. All checks that are required for cashing must have the CAR / LAR as positive values.…"},{"t":"How can someone set up an overseas merchant account without traveling abroad?","u":"how-can-someone-set-up-an-overseas-merchant-account-without-traveling-abroad","c":"Merchant Accounts, Processors and Gateways","s":["Merchant Accounts","Payment Processors"],"p":[],"d":"2012-06-07","x":"You can try Plimus.com if your goods are digital in nature. Another alternative is www.2checkout.com (very reliable…"},{"t":"Is there a PayPal-equivalent payment service in South Korea?","u":"is-there-a-paypal-equivalent-payment-service-in-south-korea","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-06-07","x":"In Korea, Alipay.com is used and for B2B transactions KOPS ( http://kops.buykorea.org/index.jsp ) is widely used in…"},{"t":"Which online payment merchants in the UAE are highly recommended besides PayPal?","u":"which-online-payment-merchants-in-the-uae-are-highly-recommended-besides-paypal","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":["EMEA","Gulf Cooperation Council"],"d":"2012-06-07","x":"The two payment systems for online credit card acceptance that I know of people using in Dubai personally are…"},{"t":"What’s the best solution for a nonprofit group to accept credit card payments for memberships online?","u":"whats-the-best-solution-for-a-nonprofit-group-to-accept-credit-card-payments-for-memberships-online","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2012-06-07","x":"Especially for non-profits, the best merchant I can recommend is Click N Pledge. They would need your non-profit status…"},{"t":"What’s the most efficient way to transfer money to a relative’s bank account abroad?","u":"whats-the-most-efficient-way-to-transfer-money-to-a-relatives-bank-account-abroad","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","Large International Transfers"],"p":[],"d":"2012-06-07","x":"Any other system, other than a wire transfer can possibly have two issues: 1. The transfer fee would be a percentage of…"},{"t":"Is it possible to pay a U.S. mortgage using a debit card?","u":"is-it-possible-to-pay-a-us-mortgage-using-a-debit-card","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards"],"p":["Americas","Developed Markets"],"d":"2012-06-07","x":"A debit card will deduct the amount from your bank account, so you must be having the balance in your account. Why not…"},{"t":"What happens if you write a check for negative one dollar and someone tries to cash it?","u":"what-happens-if-you-write-a-check-for-negative-one-dollar-and-someone-tries-to-cash-it","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2012-06-07","x":"It will not be cashed and returned. All checks that are required for cashing must have the CAR / LAR as positive values.…"},{"t":"How can someone set up an overseas merchant account remotely?","u":"how-can-someone-set-up-an-overseas-merchant-account-remotely","c":"Merchant Accounts, Processors and Gateways","s":["Merchant Accounts","Payment Processors"],"p":[],"d":"2012-06-07","x":"You can try Plimus.com if your goods are digital in nature. Another alternative is www.2checkout.com (very reliable…"},{"t":"Which payment platforms in Korea work as alternatives to PayPal?","u":"which-payment-platforms-in-korea-work-as-alternatives-to-paypal","c":"E-Commerce, Marketplace and Platform Payments","s":["Alternative Payment Methods","E-Commerce Payments"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-06-07","x":"In Korea, Alipay.com is used and for B2B transactions KOPS ( http://kops.buykorea.org/index.jsp ) is widely used in…"},{"t":"What reliable online payment providers exist in the UAE besides PayPal?","u":"what-reliable-online-payment-providers-exist-in-the-uae-besides-paypal","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Asia","EMEA"],"d":"2012-06-07","x":"The two payment systems for online credit card acceptance that I know of people using in Dubai personally are…"},{"t":"What router is best suited for a small internet startup?","u":"what-router-is-best-suited-for-a-small-internet-startup","c":"Banking and Payments Technology Stack","s":["System Integration"],"p":[],"d":"2012-06-04","x":"If you\u0026#39;re well versed and comfortable with Linux, etc. you should seriously give Vyatta a look ( www.vyatta.com ). They…"},{"t":"Why are the first four digits of credit card numbers typically printed twice?","u":"why-are-the-first-four-digits-of-credit-card-numbers-typically-printed-twice","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2012-06-04","x":"I am going to guess here (so I could very well be wrong here). I assume, the the first 4 digits (which identify the…"},{"t":"Why are the first four digits of credit card numbers often printed twice?","u":"why-are-the-first-four-digits-of-credit-card-numbers-often-printed-twice","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2012-06-04","x":"I am going to guess here (so I could very well be wrong here). I assume, the the first 4 digits (which identify the…"},{"t":"FinCEN: Where in the MSB definition is the exemption for infrequent activity located?","u":"fincen-where-in-the-msb-definition-is-the-exemption-for-infrequent-activity-located","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","FinCEN Registration"],"p":[],"d":"2012-06-01","x":"The FinCEN documentation on who is an MSB is here: http://www.fincen.gov/financial_... - The exceptions are clearly…"},{"t":"Money Transfers: Is Dwolla usable for cross-border transactions?","u":"money-transfers-is-dwolla-usable-for-cross-border-transactions","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["United States"],"d":"2012-06-01","x":"As of now (1st June/2012), I believe the answer is No. It can only be used with the US, tied to a US Bank Account."},{"t":"We formed a startup in Delaware; as foreigners living outside the U.S., how can we open a bank account?","u":"we-formed-a-startup-in-delaware-as-foreigners-living-outside-the-us-how-can-we-open-a-bank-account","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["Delaware","United States"],"d":"2012-06-01","x":"In short, you cannot. New banking rules require a physical presence in at the banks for an account to be opened,…"},{"t":"What is the most crucial thing startup founders should do before beginning execution of their idea?","u":"what-is-the-most-crucial-thing-startup-founders-should-do-before-beginning-execution-of-their-idea","c":"Starting and Running a Fintech or Payments Business","s":["Operations"],"p":[],"d":"2012-06-01","x":"Hands down, to build a team that can deliver!"},{"t":"Where exactly in FinCEN’s MSB definition is the “infrequent use” exception defined?","u":"where-exactly-in-fincens-msb-definition-is-the-infrequent-use-exception-defined","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","MSB Registration (US)"],"p":[],"d":"2012-06-01","x":"The FinCEN documentation on who is an MSB is here: http://www.fincen.gov/financial_... - The exceptions are clearly…"},{"t":"Can Dwolla be used for cross-border transactions?","u":"can-dwolla-be-used-for-cross-border-transactions","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["United States"],"d":"2012-06-01","x":"As of now (1st June/2012), I believe the answer is No. It can only be used with the US, tied to a US Bank Account."},{"t":"If we formed a Delaware company as foreigners living outside the US, how can we open a US bank account?","u":"if-we-formed-a-delaware-company-as-foreigners-living-outside-the-us-how-can-we-open-a-us-bank-accoun","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["Delaware","United States"],"d":"2012-06-01","x":"In short, you cannot. New banking rules require a physical presence in at the banks for an account to be opened,…"},{"t":"What’s the single most important thing startup founders should do before executing their idea?","u":"whats-the-single-most-important-thing-startup-founders-should-do-before-executing-their-idea","c":"Starting and Running a Fintech or Payments Business","s":["Operations"],"p":[],"d":"2012-06-01","x":"Hands down, to build a team that can deliver!"},{"t":"Where can developers connect with an active PayPal user and API community?","u":"where-can-developers-connect-with-an-active-paypal-user-and-api-community","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration"],"p":["India"],"d":"2012-05-12","x":"The most widely circulated fraud practices are those associated with phishing. To enable an ACH transaction, criminals,…"},{"t":"Are traveler’s cheques still a viable payment or credit tool today?","u":"are-travelers-cheques-still-a-viable-payment-or-credit-tool-today","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards"],"p":[],"d":"2012-05-12","x":"Try www.xoom.com and www.ikobo.com - both offer a pre-paid Visa/Mastercard."},{"t":"What types of fraud risks are associated with ACH transfers and wire transfers?","u":"what-types-of-fraud-risks-are-associated-with-ach-transfers-and-wire-transfers","c":"Fraud and Scams","s":["Payment Fraud","ACH Fraud"],"p":["China","India"],"d":"2012-05-12","x":"The most widely circulated fraud practices are those associated with phishing. To enable an ACH transaction, criminals,…"},{"t":"How can someone obtain a US-issued credit card to use services like iTunes Match while living abroad?","u":"how-can-someone-obtain-a-us-issued-credit-card-to-use-services-like-itunes-match-while-living-abroad","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Prepaid Cards"],"p":["United States"],"d":"2012-05-12","x":"Try www.xoom.com and www.ikobo.com - both offer a pre-paid Visa/Mastercard."},{"t":"How are mobile payments likely to evolve over the next few years?","u":"how-are-mobile-payments-likely-to-evolve-over-the-next-few-years","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":["Kenya","Pakistan"],"d":"2012-05-10","x":"Interesting question, an answer to which almost every payment company associated with the mobile space is trying to…"},{"t":"Is there an online solution for electronic letters of credit (LCs)?","u":"is-there-an-online-solution-for-electronic-letters-of-credit-lcs","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Letters of Credit","Trade Documents"],"p":[],"d":"2012-05-10","x":"I\u0026#39;m not sure it if you are referring to a very specific service, but HSBC, Deutsche Bank and Citibank all offer…"},{"t":"How are mobile payments expected to change over the next several years?","u":"how-are-mobile-payments-expected-to-change-over-the-next-several-years","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":["Kenya","Pakistan"],"d":"2012-05-10","x":"Interesting question, an answer to which almost every payment company associated with the mobile space is trying to…"},{"t":"Are there digital or online systems for issuing electronic letters of credit?","u":"are-there-digital-or-online-systems-for-issuing-electronic-letters-of-credit","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Letters of Credit","Trade Documents"],"p":[],"d":"2012-05-10","x":"I\u0026#39;m not sure it if you are referring to a very specific service, but HSBC, Deutsche Bank and Citibank all offer…"},{"t":"Money Transfers: Has Obopay been bought by AlertPay?","u":"money-transfers-has-obopay-been-bought-by-alertpay","c":"Starting and Running a Fintech or Payments Business","s":["Fintech Mergers and Acquisitions","Sales for Fintech"],"p":[],"d":"2012-05-07","x":"No. Obopay has not been acquired by AlertPay. However, AlertPay has had a change of name though: See:…"},{"t":"Payments, Cryptography, Digital Currency, Funds Transfers: Is the SWIFT messaging network still relevant in today’s hyper-connected, technology-driven world?","u":"payments-cryptography-digital-currency-funds-transfers-is-the-swift-messaging-network-still-relevant","c":"International Wire Transfers and Large Transfers","s":["SWIFT Transfers","International Wire Transfers"],"p":[],"d":"2012-05-07","x":"Very much so. Even though the system was developed in 1973, they are very much up to date with the latest technologies…"},{"t":"Has Obopay been acquired by AlertPay?","u":"has-obopay-been-acquired-by-alertpay","c":"Starting and Running a Fintech or Payments Business","s":["Fintech Mergers and Acquisitions"],"p":[],"d":"2012-05-07","x":"No. Obopay has not been acquired by AlertPay. However, AlertPay has had a change of name though: See:…"},{"t":"Is the SWIFT messaging network still relevant in today’s hyper-connected, tech-enabled world?","u":"is-the-swift-messaging-network-still-relevant-in-todays-hyper-connected-tech-enabled-world","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2012-05-07","x":"Very much so. Even though the system was developed in 1973, they are very much up to date with the latest technologies…"},{"t":"What does a US business need to accept non-US credit cards, technically and administratively?","u":"what-does-a-us-business-need-to-accept-non-us-credit-cards-technically-and-administratively","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Merchant Accounts"],"p":["United States"],"d":"2012-05-07","x":"Nothing actually. The whole premise of accepting cards is the network they belong to. If I see a VISA/Mastercard sign on…"},{"t":"How does credit card processing work, and what role do companies like Authorize.net play?","u":"how-does-credit-card-processing-work-and-what-role-do-companies-like-authorizenet-play","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2012-05-07","x":"They essentially, use their economies of scale, to process transactions for you. Companies like Authorize.net et. al.…"},{"t":"What technical and administrative steps must a U.S. business take to accept foreign credit cards?","u":"what-technical-and-administrative-steps-must-a-us-business-take-to-accept-foreign-credit-cards","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Merchant Accounts"],"p":["United States"],"d":"2012-05-07","x":"Nothing actually. The whole premise of accepting cards is the network they belong to. If I see a VISA/Mastercard sign on…"},{"t":"How does credit card processing function, and what services do companies like Authorize.net provide?","u":"how-does-credit-card-processing-function-and-what-services-do-companies-like-authorizenet-provide","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2012-05-07","x":"They essentially, use their economies of scale, to process transactions for you. Companies like Authorize.net et. al.…"},{"t":"What is the procedure for opening a bank account in the United States?","u":"what-is-the-procedure-for-opening-a-bank-account-in-the-united-states","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["Americas","Developed Markets"],"d":"2012-05-01","x":"Just visit a bank branch in person and open it. Those days are gone when you could open a bank account without…"},{"t":"How can a small U.S. high-tech firm open a business banking account at a European bank?","u":"how-can-a-small-us-high-tech-firm-open-a-business-banking-account-at-a-european-bank","c":"Opening Bank Accounts, Personal and Business","s":["Business Bank Accounts","Bank Account Opening"],"p":["Developed Markets","EMEA"],"d":"2012-05-01","x":"In essence you cannot. Most EU Banks are following the stricter guidelines being implemented to mitigate money…"},{"t":"How can someone open a UK business bank account without physically being in the country, but with a registered Ltd company?","u":"how-can-someone-open-a-uk-business-bank-account-without-physically-being-in-the-country-but-with-a-r","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Business Bank Accounts"],"p":["Developed Markets","EMEA"],"d":"2012-05-01","x":"UK\u0026#39;s Financial Services Authority (FSA) - Requires that other than corporate, certain trust and specialized trading…"},{"t":"What is the most economical method to transfer money from the U.S. to India?","u":"what-is-the-most-economical-method-to-transfer-money-from-the-us-to-india","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["India","Indian Rupee"],"d":"2012-05-01","x":"Your best bet is to do a wire transfer int your Indian account. The fees (including mid-bank deduction fees, if any)…"},{"t":"Is there any directory or listing of routing numbers for prepaid debit card-issuing banks that support direct deposit?","u":"is-there-any-directory-or-listing-of-routing-numbers-for-prepaid-debit-card-issuing-banks-that-suppo","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards","Prepaid Cards"],"p":[],"d":"2012-05-01","x":"You can block the transaction by the Issue number (which are the first 6 digits of the credit/debit card). These 6…"},{"t":"What are the steps to open a bank account in the United States?","u":"what-are-the-steps-to-open-a-bank-account-in-the-united-states","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["Americas","Developed Markets"],"d":"2012-05-01","x":"Just visit a bank branch in person and open it. Those days are gone when you could open a bank account without…"},{"t":"How can a small US-based tech company open a business account with a European bank?","u":"how-can-a-small-us-based-tech-company-open-a-business-account-with-a-european-bank","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Business Bank Accounts"],"p":["Developed Markets","EMEA"],"d":"2012-05-01","x":"In essence you cannot. Most EU Banks are following the stricter guidelines being implemented to mitigate money…"},{"t":"How can someone open a UK business bank account without being physically present (for a registered Ltd)?","u":"how-can-someone-open-a-uk-business-bank-account-without-being-physically-present-for-a-registered-lt","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Business Bank Accounts"],"p":["Developed Markets","EMEA"],"d":"2012-05-01","x":"UK\u0026#39;s Financial Services Authority (FSA) - Requires that other than corporate, certain trust and specialized trading…"},{"t":"What’s the cheapest way to send money from the US to India?","u":"whats-the-cheapest-way-to-send-money-from-the-us-to-india","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["India","Indian Rupee"],"d":"2012-05-01","x":"Your best bet is to do a wire transfer int your Indian account. The fees (including mid-bank deduction fees, if any)…"},{"t":"Is there a database or directory of routing numbers for prepaid debit cards that support direct deposit?","u":"is-there-a-database-or-directory-of-routing-numbers-for-prepaid-debit-cards-that-support-direct-depo","c":"Credit, Debit and Prepaid Cards","s":["Debit Cards","Prepaid Cards"],"p":[],"d":"2012-05-01","x":"You can block the transaction by the Issue number (which are the first 6 digits of the credit/debit card). These 6…"},{"t":"What are cost-effective, reliable ways to receive online payments in Pakistan?","u":"what-are-cost-effective-reliable-ways-to-receive-online-payments-in-pakistan","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Getting Paid from Abroad"],"p":["Asia","Indian Subcontinent"],"d":"2012-04-10","x":"Having followed the payments space in Pakistan for over 15+ years, I can comment on your answer. On Paypal acceptance.…"},{"t":"What are reliable and affordable ways to receive online payments in Pakistan?","u":"what-are-reliable-and-affordable-ways-to-receive-online-payments-in-pakistan","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Getting Paid from Abroad"],"p":["Asia","Indian Subcontinent"],"d":"2012-04-10","x":"Having followed the payments space in Pakistan for over 15+ years, I can comment on your answer. On Paypal acceptance.…"},{"t":"Which companies handle online card processing in Scandinavian countries?","u":"which-companies-handle-online-card-processing-in-scandinavian-countries","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":["Developed Markets","EMEA"],"d":"2012-04-09","x":"Which companies handle online card processing in Scandinavian countries?"},{"t":"Does the primary recipient in PayPal chained payments qualify as a money services business?","u":"does-the-primary-recipient-in-paypal-chained-payments-qualify-as-a-money-services-business","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":[],"d":"2012-04-09","x":"Praveen Alavilli \u0026#39;s answer is spot on. They would only be considered a Money Service Business if they are transiting the…"},{"t":"Do white-labeled online payment providers in receiving countries also handle regulatory compliance in sending countries?","u":"do-white-labeled-online-payment-providers-in-receiving-countries-also-handle-regulatory-compliance-i","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensing Documentation","License Due Diligence"],"p":["Benin","Reserve Bank of India"],"d":"2012-04-09","x":"Mixed answer. They can\u0026#39;t take care of it per se, but if the white-label provider is the license holder (most cases) then…"},{"t":"Which providers handle online card transactions in Scandinavian markets?","u":"which-providers-handle-online-card-transactions-in-scandinavian-markets","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":["Developed Markets","EMEA"],"d":"2012-04-09","x":"Which providers handle online card transactions in Scandinavian markets?"},{"t":"Does the main receiver in PayPal chained payments count as a money services business?","u":"does-the-main-receiver-in-paypal-chained-payments-count-as-a-money-services-business","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":[],"d":"2012-04-09","x":"Praveen Alavilli \u0026#39;s answer is spot on. They would only be considered a Money Service Business if they are transiting the…"},{"t":"Do white-label payment providers in receiving countries also manage regulatory compliance in sending countries?","u":"do-white-label-payment-providers-in-receiving-countries-also-manage-regulatory-compliance-in-sending","c":"Licensing Strategy, Sponsorship and Agent Models","s":["License Due Diligence","Licensing Documentation"],"p":["Benin","Reserve Bank of India"],"d":"2012-04-09","x":"Mixed answer. They can\u0026#39;t take care of it per se, but if the white-label provider is the license holder (most cases) then…"},{"t":"Where can businesses innovate or stand out in mobile commerce?","u":"where-can-businesses-innovate-or-stand-out-in-mobile-commerce","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Remittance-as-a-Service (RaaS)"],"p":[],"d":"2012-04-09","x":"Though I am not an expert in the mobile commerce field (learning it as much as I can), one thing that is hot in the…"},{"t":"Would a lending or borrowing platform be classified as a money transmitter?","u":"would-a-lending-or-borrowing-platform-be-classified-as-a-money-transmitter","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":[],"d":"2012-04-08","x":"From the looks of it (Point #1 \u0026amp; #2), it seems that is just referral fees / commission, so no money transmitter issue…"},{"t":"How do corporations transfer billions of dollars between each other?","u":"how-do-corporations-transfer-billions-of-dollars-between-each-other","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Corporate Treasury","Cash Management"],"p":[],"d":"2012-04-08","x":"Typically for large transactions as such, a bank credit note is issued."},{"t":"Would a site enabling peer-to-peer lending/borrowing count as a money transmitter legally?","u":"would-a-site-enabling-peer-to-peer-lendingborrowing-count-as-a-money-transmitter-legally","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business (MSB)"],"p":[],"d":"2012-04-08","x":"From the looks of it (Point #1 \u0026amp; #2), it seems that is just referral fees / commission, so no money transmitter issue…"},{"t":"What’s the best Twitter strategy for responding to angry customers?","u":"whats-the-best-twitter-strategy-for-responding-to-angry-customers","c":"Consumer Protection, Customer Rights and Customer Service","s":["Customer Service Problems","Complaints and Disputes"],"p":[],"d":"2012-04-08","x":"The first and foremost thing is - that the person is angry. You need to have them cool down. Reach out to them in every…"},{"t":"How do corporations move billions of dollars safely between companies?","u":"how-do-corporations-move-billions-of-dollars-safely-between-companies","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Corporate Treasury","Cash Management"],"p":[],"d":"2012-04-08","x":"Typically for large transactions as such, a bank credit note is issued."},{"t":"Why hasn’t Dwolla been incorporated into invoicing software or applications?","u":"why-hasnt-dwolla-been-incorporated-into-invoicing-software-or-applications","c":"Banking and Payments Technology Stack","s":["System Integration"],"p":[],"d":"2012-04-03","x":"Hard to say, though it would be a great thing if they did. Many people in the field still feel Dwolla is still very…"},{"t":"Why doesn’t Dwolla integrate directly with invoicing tools or accounting apps?","u":"why-doesnt-dwolla-integrate-directly-with-invoicing-tools-or-accounting-apps","c":"Banking and Payments Technology Stack","s":["System Integration"],"p":[],"d":"2012-04-03","x":"Hard to say, though it would be a great thing if they did. Many people in the field still feel Dwolla is still very…"},{"t":"My question is, what legal rights do I have when presenting my cashier’s check to US Bank for cashing?","u":"my-question-is-what-legal-rights-do-i-have-when-presenting-my-cashiers-check-to-us-bank-for-cashing","c":"Consumer Protection, Customer Rights and Customer Service","s":["Consumer Rights"],"p":["United States"],"d":"2012-04-02","x":"A cashier\u0026#39;s check is not a bearer financial instrument. It is made out to a specific name. When one is made out to you,…"},{"t":"What is the most effective method to accept credit card payments over the phone?","u":"what-is-the-most-effective-method-to-accept-credit-card-payments-over-the-phone","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2012-04-02","x":"Card.io (PayPal has licensed this technology from them as well). If your smart phone has a camera, this will do very…"},{"t":"What is the most effective way to accept credit card payments over the phone?","u":"what-is-the-most-effective-way-to-accept-credit-card-payments-over-the-phone","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2012-04-02","x":"Card.io (PayPal has licensed this technology from them as well). If your smart phone has a camera, this will do very…"},{"t":"What legal rights do I have if US Bank cashes my cashier’s check when I present it?","u":"what-legal-rights-do-i-have-if-us-bank-cashes-my-cashiers-check-when-i-present-it","c":"Consumer Protection, Customer Rights and Customer Service","s":["Consumer Rights","Consumer Protection"],"p":["United States"],"d":"2012-04-02","x":"A cashier\u0026#39;s check is not a bearer financial instrument. It is made out to a specific name. When one is made out to you,…"},{"t":"Does any payment processor offer services without charging a fee for chargebacks?","u":"does-any-payment-processor-offer-services-without-charging-a-fee-for-chargebacks","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2012-03-10","x":"As a standard, the rack rates that you get from your payment processor will always have some $ denominated chargeback…"},{"t":"How does someone go about launching a payment gateway?","u":"how-does-someone-go-about-launching-a-payment-gateway","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Card Payments"],"p":["Americas","Developed Markets"],"d":"2012-03-10","x":"Assuming you want to get started in the US. To start a payment gateway, you would need to be an MSP / ISO of a bank.…"},{"t":"Where can I locate import–export rules and customs regulations for different countries?","u":"where-can-i-locate-importexport-rules-and-customs-regulations-for-different-countries","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Customs"],"p":[],"d":"2012-03-10","x":"Lets start with Exports (i.e. you will be importing). Almost every country has an export promotion bureau or equivalent,…"},{"t":"What happens if a cashier’s check is lost or destroyed before deposit?","u":"what-happens-if-a-cashiers-check-is-lost-or-destroyed-before-deposit","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2012-03-10","x":"Its just a guaranteed cheque. If it is lost, you simply go to the issuing bank and ask for the lost one to be cancelled…"},{"t":"What costs do banks incur when a deposited check bounces?","u":"what-costs-do-banks-incur-when-a-deposited-check-bounces","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2012-03-10","x":"A few pennies really. Almost all the cheque processing is automated. It is nothing more than scanning/processing of…"},{"t":"Are there any payment processors that do not charge chargeback fees?","u":"are-there-any-payment-processors-that-do-not-charge-chargeback-fees","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Card Processing Pricing"],"p":[],"d":"2012-03-10","x":"As a standard, the rack rates that you get from your payment processor will always have some $ denominated chargeback…"},{"t":"What are the steps involved in starting a payment gateway business?","u":"what-are-the-steps-involved-in-starting-a-payment-gateway-business","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Card Payments"],"p":["Americas","Developed Markets"],"d":"2012-03-10","x":"Assuming you want to get started in the US. To start a payment gateway, you would need to be an MSP / ISO of a bank.…"},{"t":"What happens if a cashier’s check is lost or destroyed before being deposited?","u":"what-happens-if-a-cashiers-check-is-lost-or-destroyed-before-being-deposited","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2012-03-10","x":"Its just a guaranteed cheque. If it is lost, you simply go to the issuing bank and ask for the lost one to be cancelled…"},{"t":"What costs do banks incur when handling a deposited check that bounces?","u":"what-costs-do-banks-incur-when-handling-a-deposited-check-that-bounces","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2012-03-10","x":"A few pennies really. Almost all the cheque processing is automated. It is nothing more than scanning/processing of…"},{"t":"How much do younger generations still rely on cash for payments?","u":"how-much-do-younger-generations-still-rely-on-cash-for-payments","c":"Payments (General)","s":["Payment Methods","Cash"],"p":[],"d":"2012-03-09","x":"Cash is still King! It would be very hard to give you statistics on this off-hand, but the newer (younger generation) is…"},{"t":"How much do younger generations rely on cash compared to digital payments?","u":"how-much-do-younger-generations-rely-on-cash-compared-to-digital-payments","c":"Payments (General)","s":["Payment Methods","Cash"],"p":[],"d":"2012-03-09","x":"Cash is still King! It would be very hard to give you statistics on this off-hand, but the newer (younger generation) is…"},{"t":"As an Australian resident with a Delaware LLC, which US bank should I use and how do I open an account?","u":"as-an-australian-resident-with-a-delaware-llc-which-us-bank-should-i-use-and-how-do-i-open-an-accoun","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["Australia","Delaware"],"d":"2012-03-07","x":"I am not sure you can open a US Bank Account sitting from Australia (any longer now). Even if you have a US bank…"},{"t":"As an Australian with a Delaware LLC, what’s the best U.S. bank for a business account and how do I open one?","u":"as-an-australian-with-a-delaware-llc-whats-the-best-us-bank-for-a-business-account-and-how-do-i-open","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","Business Bank Accounts"],"p":["Americas","Australia"],"d":"2012-03-07","x":"I am not sure you can open a US Bank Account sitting from Australia (any longer now). Even if you have a US bank…"},{"t":"How do banks and similar institutions manage recurring tasks or automated processes?","u":"how-do-banks-and-similar-institutions-manage-recurring-tasks-or-automated-processes","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2012-03-06","x":"Banks have their Core Banking Software. Such softwares are meant to do a wide variety of tasks, including scheduled and…"},{"t":"What exactly occurs when money is sent through Western Union compared to a service like XOOM? How do they differ?","u":"what-exactly-occurs-when-money-is-sent-through-western-union-compared-to-a-service-like-xoom-how-do","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Western Union"],"p":["Asia","Philippines"],"d":"2012-03-06","x":"Okay, lets break down the steps and the players involved in the money transfer business from the graphic below: From the…"},{"t":"How do banks and companies manage recurring financial and operational tasks?","u":"how-do-banks-and-companies-manage-recurring-financial-and-operational-tasks","c":"Banking and Payments Technology Stack","s":["Financial Technology Architecture"],"p":[],"d":"2012-03-06","x":"Banks have their Core Banking Software. Such softwares are meant to do a wide variety of tasks, including scheduled and…"},{"t":"What is the difference between sending money via Western Union and services like Xoom?","u":"what-is-the-difference-between-sending-money-via-western-union-and-services-like-xoom","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Western Union"],"p":["Philippines","United States"],"d":"2012-03-06","x":"Okay, lets break down the steps and the players involved in the money transfer business from the graphic below: From the…"},{"t":"Why is it not possible to electronically transfer funds between banks in the U.S.?","u":"why-is-it-not-possible-to-electronically-transfer-funds-between-banks-in-the-us","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Wire Transfers"],"p":["Americas","Developed Markets"],"d":"2012-03-03","x":"You can, Inter-Bank Funds Transfer is available with all banks (almost), you just need to let them know that you wish to…"},{"t":"Why isn’t it possible to instantly transfer funds online between US bank accounts?","u":"why-isnt-it-possible-to-instantly-transfer-funds-online-between-us-bank-accounts","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Account-to-Account Payments","Payment Infrastructure"],"p":["Americas","Developed Markets"],"d":"2012-03-03","x":"You can, Inter-Bank Funds Transfer is available with all banks (almost), you just need to let them know that you wish to…"},{"t":"In Second Life, why isn’t there a prepaid debit card available for spending Linden Dollars?","u":"in-second-life-why-isnt-there-a-prepaid-debit-card-available-for-spending-linden-dollars","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards","Debit Cards"],"p":[],"d":"2012-03-02","x":"Because Linden Dollars is not a universally accepted or traded currency as far as financial institutions are concerned.…"},{"t":"What is the simplest method of laundering money?","u":"what-is-the-simplest-method-of-laundering-money","c":"Money Laundering and Financial Crime","s":["Financial Crime","Money Laundering"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-03-02","x":"To make it white (legalize it) you can take the cash and fly to various countries, like Thailand, Malaysia, Indonesia,…"},{"t":"Is money laundering harmful?","u":"is-money-laundering-harmful","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":[],"d":"2012-03-02","x":"A banker once jokingly said to me: \u0026#34; Money laundering is bad only if you get caught, otherwise, its banking! \u0026#34;"},{"t":"Why doesn’t Second Life offer a prepaid debit card for Linden Dollars?","u":"why-doesnt-second-life-offer-a-prepaid-debit-card-for-linden-dollars","c":"Credit, Debit and Prepaid Cards","s":["Prepaid Cards","Debit Cards"],"p":[],"d":"2012-03-02","x":"Because Linden Dollars is not a universally accepted or traded currency as far as financial institutions are concerned.…"},{"t":"What is considered the easiest method of laundering money?","u":"what-is-considered-the-easiest-method-of-laundering-money","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-03-02","x":"To make it white (legalize it) you can take the cash and fly to various countries, like Thailand, Malaysia, Indonesia,…"},{"t":"Is money laundering inherently harmful, and why?","u":"is-money-laundering-inherently-harmful-and-why","c":"Money Laundering and Financial Crime","s":["Money Laundering","Financial Crime"],"p":[],"d":"2012-03-02","x":"A banker once jokingly said to me: \u0026#34; Money laundering is bad only if you get caught, otherwise, its banking! \u0026#34;"},{"t":"Would modern AML and KYC regulations have prevented asset transfers during historical crises?","u":"would-modern-aml-and-kyc-regulations-have-prevented-asset-transfers-during-historical-crises","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","Know Your Customer (KYC)"],"p":["Europe","Germany"],"d":"2012-03-02","x":"First of all, I would like to say, this is a great question. Today, if we were to juxtapose the sad situation Jews in…"},{"t":"Do I need to give my developer details about my credit card processor/acquirer, or is providing the payment gateway information sufficient to set everything up?","u":"do-i-need-to-give-my-developer-details-about-my-credit-card-processoracquirer-or-is-providing-the-pa","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Payment APIs"],"p":[],"d":"2012-03-01","x":"Typically your developer would be given information on how to connect to the gateway and parse information back and…"},{"t":"Does a developer need access to acquirer details or just the payment gateway to set up payments?","u":"does-a-developer-need-access-to-acquirer-details-or-just-the-payment-gateway-to-set-up-payments","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Payment APIs"],"p":[],"d":"2012-03-01","x":"Typically your developer would be given information on how to connect to the gateway and parse information back and…"},{"t":"Beyond Google Checkout, which platforms let merchants issue and redeem coupon codes at checkout?","u":"beyond-google-checkout-which-platforms-let-merchants-issue-and-redeem-coupon-codes-at-checkout","c":"E-Commerce, Marketplace and Platform Payments","s":["Online Checkout","E-Commerce Payments"],"p":[],"d":"2012-02-12","x":"Not sure about payment gateways, but if you\u0026#39;re using a decent shopping cart system, it will offer the functionality you…"},{"t":"What’s the best way to send mass payouts?","u":"whats-the-best-way-to-send-mass-payouts","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Batch Payments","Payment Infrastructure"],"p":["Americas","Developed Markets"],"d":"2012-02-12","x":"If the payout accounts are US based, almost any decent ACH processor that does payout (direct deposits) will allow you…"},{"t":"Which countries let businesses issue invoices in foreign currencies locally?","u":"which-countries-let-businesses-issue-invoices-in-foreign-currencies-locally","c":"Payments (General)","s":["Payment Products"],"p":[],"d":"2012-02-12","x":"Subtle differences: Venmo is free to use right now, whilst Dwolla is $ 0.25 per transaction for transaction $ 10.00 or…"},{"t":"Are there payment platforms that support coupons and discount codes during checkout besides Google Checkout?","u":"are-there-payment-platforms-that-support-coupons-and-discount-codes-during-checkout-besides-google-c","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Online Checkout"],"p":[],"d":"2012-02-12","x":"Not sure about payment gateways, but if you\u0026#39;re using a decent shopping cart system, it will offer the functionality you…"},{"t":"What is the most efficient way to send mass or bulk payments?","u":"what-is-the-most-efficient-way-to-send-mass-or-bulk-payments","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Batch Payments","Payment Infrastructure"],"p":["Americas","North America"],"d":"2012-02-12","x":"If the payout accounts are US based, almost any decent ACH processor that does payout (direct deposits) will allow you…"},{"t":"Can anyone share real-world experiences using Dwolla for online payments?","u":"can-anyone-share-real-world-experiences-using-dwolla-for-online-payments","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":[],"d":"2012-02-12","x":"Subtle differences: Venmo is free to use right now, whilst Dwolla is $ 0.25 per transaction for transaction $ 10.00 or…"},{"t":"Why did major Israeli banks restrict access from overseas connections?","u":"why-did-major-israeli-banks-restrict-access-from-overseas-connections","c":"Cybersecurity, Digital Identity and Authentication","s":["Cybersecurity","Data Security"],"p":["Developed Markets","Israel"],"d":"2012-02-11","x":"The issue is not of Banks and Financial institutions not having DDoS gear (most of them don\u0026#39;t). They will have adequate…"},{"t":"How is the mobile payments industry expected to develop over the next few years?","u":"how-is-the-mobile-payments-industry-expected-to-develop-over-the-next-few-years","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets"],"p":["Europe","United Kingdom"],"d":"2012-02-11","x":"Nothing is wrong with it. It is a well regulated, legally compliant payment system based out of UK. Moneybookers (now…"},{"t":"Why did major Israeli banks restrict or close access to overseas connections?","u":"why-did-major-israeli-banks-restrict-or-close-access-to-overseas-connections","c":"Cybersecurity, Digital Identity and Authentication","s":["Cybersecurity","Data Security"],"p":["Israel","Middle East"],"d":"2012-02-11","x":"The issue is not of Banks and Financial institutions not having DDoS gear (most of them don\u0026#39;t). They will have adequate…"},{"t":"What are the most critical challenges faced by small businesses today?","u":"what-are-the-most-critical-challenges-faced-by-small-businesses-today","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Insights","Business Lessons"],"p":[],"d":"2012-02-11","x":"There just so many problems that plague small businesses, there is no one simple corner to start off with, however, (in…"},{"t":"Why has Skrill, formerly Moneybookers, lost popularity over time?","u":"why-has-skrill-formerly-moneybookers-lost-popularity-over-time","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets","Stored Value"],"p":["Europe","United Kingdom"],"d":"2012-02-11","x":"Nothing is wrong with it. It is a well regulated, legally compliant payment system based out of UK. Moneybookers (now…"},{"t":"What’s the most effective way to send money online?","u":"whats-the-most-effective-way-to-send-money-online","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2012-02-10","x":"It depends what two payment points you are referring to? (i.e. sending/receiving geographic areas). There are myriad of…"},{"t":"Which web hosting companies are considered the best globally?","u":"which-web-hosting-companies-are-considered-the-best-globally","c":"General Finance Questions","s":["Company Comparisons","Product Reviews"],"p":[],"d":"2012-02-10","x":"In no particular order: Host Gator ( www.hostgator.com ) 1 \u0026amp; 1 ( www.1and1.com ) Liquid Web (their shared hosting plans…"},{"t":"What is the most efficient way to send money over the internet?","u":"what-is-the-most-efficient-way-to-send-money-over-the-internet","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2012-02-10","x":"It depends what two payment points you are referring to? (i.e. sending/receiving geographic areas). There are myriad of…"},{"t":"Why has NFC struggled to become a mainstream mobile payment technology?","u":"why-has-nfc-struggled-to-become-a-mainstream-mobile-payment-technology","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Mobile Payments","Mobile Money"],"p":["Kenya","North America"],"d":"2012-02-10","x":"We had (are still having) an extremely difficult time in adapting the simplest mobile payment system which was text…"},{"t":"Why hasn’t a significantly cheaper alternative to payment processing emerged?","u":"why-hasnt-a-significantly-cheaper-alternative-to-payment-processing-emerged","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Insights","Competitive Analysis"],"p":["China","Kenya"],"d":"2012-02-09","x":"There are very many payment systems being developed and being rolled-out in the world today. The main issue is of…"},{"t":"What’s the best method to send money from Croatia to the U.S.?","u":"whats-the-best-method-to-send-money-from-croatia-to-the-us","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Croatia","EMEA"],"d":"2012-02-09","x":"So a couple of things to be aware of: Sending any form of walk-in money transfer service, you will not be allowed to…"},{"t":"What’s the best way to receive money online?","u":"whats-the-best-way-to-receive-money-online","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":[],"d":"2012-02-09","x":"Venmo / Dwolla? (See www.venmo.com and www.dwolla.com ). Both are easy to use and person-to-person payments made…"},{"t":"Is Authorize.net obligated to hand over user data on request?","u":"is-authorizenet-obligated-to-hand-over-user-data-on-request","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Data Protection in Finance","Law"],"p":[],"d":"2012-02-09","x":"My answer would be No. Although this is just a heuristic answer and I cannot back this up. Authorize.net being the…"},{"t":"What is NetPayment, and how does it differ from ACH?","u":"what-is-netpayment-and-how-does-it-differ-from-ach","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Account-to-Account Payments"],"p":[],"d":"2012-02-09","x":"Netpayment is the logical progression to the decades old ACH system. It essentially follows the framework (in a crude…"},{"t":"Why hasn’t a significantly cheaper alternative to payment processing emerged yet?","u":"why-hasnt-a-significantly-cheaper-alternative-to-payment-processing-emerged-yet","c":"Business Strategy, Case Studies and Lessons Learned","s":["Industry Insights","Competitive Analysis"],"p":["China","Kenya"],"d":"2012-02-09","x":"There are very many payment systems being developed and being rolled-out in the world today. The main issue is of…"},{"t":"What is the best method for sending money from Croatia to the United States?","u":"what-is-the-best-method-for-sending-money-from-croatia-to-the-united-states","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Croatia","United States"],"d":"2012-02-09","x":"So a couple of things to be aware of: Sending any form of walk-in money transfer service, you will not be allowed to…"},{"t":"What is the most reliable way to receive money online?","u":"what-is-the-most-reliable-way-to-receive-money-online","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Digital Wallets"],"p":[],"d":"2012-02-09","x":"Venmo / Dwolla? (See www.venmo.com and www.dwolla.com ). Both are easy to use and person-to-person payments made…"},{"t":"Is Authorize.net legally required to share user data upon request?","u":"is-authorizenet-legally-required-to-share-user-data-upon-request","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Data Protection in Finance","Law"],"p":[],"d":"2012-02-09","x":"My answer would be No. Although this is just a heuristic answer and I cannot back this up. Authorize.net being the…"},{"t":"Why do banks generally offer higher interest rates to personal customers than to business accounts?","u":"why-do-banks-generally-offer-higher-interest-rates-to-personal-customers-than-to-business-accounts","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2012-02-09","x":"Actually, a business customer is more economical to deal with on a floor cost basis, than a non-business customer. The…"},{"t":"What is the typical settlement period for ACH transactions?","u":"what-is-the-typical-settlement-period-for-ach-transactions","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2012-02-09","x":"Will answer my own question. Turns out the answer is 48-hours to actually process. Settlement in 72 hours. Day 1: Debit…"},{"t":"How can a website accept payments from users in South Asian countries like Bangladesh or Pakistan?","u":"how-can-a-website-accept-payments-from-users-in-south-asian-countries-like-bangladesh-or-pakistan","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Tie-Ups"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-02-09","x":"Your only option is to tie up locally (via opening a Nostro account) with any of the banks here. By opening of a nostro…"},{"t":"What happens to a bank account if the account holder dies and no one is aware of the account?","u":"what-happens-to-a-bank-account-if-the-account-holder-dies-and-no-one-is-aware-of-the-account","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2012-02-09","x":"As you cited, it will vary from country to country. Generally, a notice is served into the local newspaper, a kind of a…"},{"t":"Why do banks offer higher interest rates to individuals than to businesses?","u":"why-do-banks-offer-higher-interest-rates-to-individuals-than-to-businesses","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2012-02-09","x":"Actually, a business customer is more economical to deal with on a floor cost basis, than a non-business customer. The…"},{"t":"How long do ACH transactions take to fully settle?","u":"how-long-do-ach-transactions-take-to-fully-settle","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2012-02-09","x":"Will answer my own question. Turns out the answer is 48-hours to actually process. Settlement in 72 hours. Day 1: Debit…"},{"t":"How can a website accept payments from South Asian countries like Bangladesh and Pakistan?","u":"how-can-a-website-accept-payments-from-south-asian-countries-like-bangladesh-and-pakistan","c":"Correspondent Banking, Nostro and Vostro, and Settlement","s":["Money Plumbing (How Money Moves)","Correspondent Tie-Ups"],"p":["Asia","Bangladesh"],"d":"2012-02-09","x":"Your only option is to tie up locally (via opening a Nostro account) with any of the banks here. By opening of a nostro…"},{"t":"What happens to a bank account if the owner dies and no one is aware of it?","u":"what-happens-to-a-bank-account-if-the-owner-dies-and-no-one-is-aware-of-it","c":"How Banks Work","s":["Banks","Dormant Accounts"],"p":[],"d":"2012-02-09","x":"As you cited, it will vary from country to country. Generally, a notice is served into the local newspaper, a kind of a…"},{"t":"How many banks should a country have relative to its population size?","u":"how-many-banks-should-a-country-have-relative-to-its-population-size","c":"Central Banks and Bank Supervision","s":["Banking Economics","Central Bank Policy"],"p":[],"d":"2012-02-08","x":"The number of Banks any given country economy can have is not determined by any preset formula (especially with respect…"},{"t":"Can Dwolla be used as a payment method on e-commerce sites that don’t use its listed carts?","u":"can-dwolla-be-used-as-a-payment-method-on-e-commerce-sites-that-dont-use-its-listed-carts","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Payment APIs"],"p":[],"d":"2012-02-08","x":"If you are not using the shopping cart per se (that Dwolla has a plug-in for), you can always use the API to connect and…"},{"t":"How many banks does a country typically need relative to its population size?","u":"how-many-banks-does-a-country-typically-need-relative-to-its-population-size","c":"Central Banks and Bank Supervision","s":["Banking Economics","Central Bank Policy"],"p":[],"d":"2012-02-08","x":"The number of Banks any given country economy can have is not determined by any preset formula (especially with respect…"},{"t":"Can Dwolla be integrated as a payment option on eCommerce websites?","u":"can-dwolla-be-integrated-as-a-payment-option-on-ecommerce-websites","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Payment APIs"],"p":[],"d":"2012-02-08","x":"If you are not using the shopping cart per se (that Dwolla has a plug-in for), you can always use the API to connect and…"},{"t":"Does Kickstarter hold a money-transmitter license?","u":"does-kickstarter-hold-a-money-transmitter-license","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":[],"d":"2012-02-04","x":"They use Amazon Payments to process their transactions, so I guess they are piggy-backing on that premise (money…"},{"t":"Which UK bank offers free international transfers to a U.S. bank (e.g., ING Direct)?","u":"which-uk-bank-offers-free-international-transfers-to-a-us-bank-eg-ing-direct","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Developed Markets","North America"],"d":"2012-02-04","x":"I am not sure you would be able to find a transaction free international transfer (if you do, then most likely, the…"},{"t":"Which payment gateways work well for small online merchants?","u":"which-payment-gateways-work-well-for-small-online-merchants","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2012-02-04","x":"Braintree Payments is what comes to mind immediately (See www.braintreepayments.com ). Their pricing is substantially…"},{"t":"How does PayPal differ from Dwolla?","u":"how-does-paypal-differ-from-dwolla","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments"],"p":["United States"],"d":"2012-02-04","x":"PayPal - Person to to person (and business to business) payment system. Predominantly payments are transacted over…"},{"t":"What are the key differences between Venmo and Dwolla?","u":"what-are-the-key-differences-between-venmo-and-dwolla","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":[],"d":"2012-02-04","x":"The short answer would be: Venmo : Free, linked to credit card, P2P payment system via the mobile, direct deposit into…"},{"t":"Does Kickstarter require a money transmitter license to operate?","u":"does-kickstarter-require-a-money-transmitter-license-to-operate","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":[],"d":"2012-02-04","x":"They use Amazon Payments to process their transactions, so I guess they are piggy-backing on that premise (money…"},{"t":"Which UK banks offer free or low-cost international transfers to US banks?","u":"which-uk-banks-offer-free-or-low-cost-international-transfers-to-us-banks","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Developed Markets","North America"],"d":"2012-02-04","x":"I am not sure you would be able to find a transaction free international transfer (if you do, then most likely, the…"},{"t":"Which payment gateways are best suited for small online merchants?","u":"which-payment-gateways-are-best-suited-for-small-online-merchants","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2012-02-04","x":"Braintree Payments is what comes to mind immediately (See www.braintreepayments.com ). Their pricing is substantially…"},{"t":"How does PayPal differ from Dwolla in terms of functionality and use cases?","u":"how-does-paypal-differ-from-dwolla-in-terms-of-functionality-and-use-cases","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments"],"p":["Developed Markets","United States"],"d":"2012-02-04","x":"PayPal - Person to to person (and business to business) payment system. Predominantly payments are transacted over…"},{"t":"What are the key differences between Venmo and Dwolla as payment platforms?","u":"what-are-the-key-differences-between-venmo-and-dwolla-as-payment-platforms","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments","Mobile Payments"],"p":[],"d":"2012-02-04","x":"The short answer would be: Venmo : Free, linked to credit card, P2P payment system via the mobile, direct deposit into…"},{"t":"If a cloud services provider goes bankrupt, how can customers retrieve their stored data?","u":"if-a-cloud-services-provider-goes-bankrupt-how-can-customers-retrieve-their-stored-data","c":"Law, Contracts, Terms of Service and Legal Structures","s":["Bankruptcy and Insolvency","Asset Recovery"],"p":[],"d":"2012-01-12","x":"It all depends on the terms of insolvency. Most companies will provide you ample of opportunity to take your…"},{"t":"Which Indian laws and regulations address e-commerce fraud?","u":"which-indian-laws-and-regulations-address-e-commerce-fraud","c":"Fraud and Scams","s":["Fraud Prevention","Consumer Fraud"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-01-10","x":"Section 420 of the Indian Penal Code is always applicable . There is no legislation and/or law anywhere in the world…"},{"t":"What’s the difference between authorization fees and commission fees in a payment gateway?","u":"whats-the-difference-between-authorization-fees-and-commission-fees-in-a-payment-gateway","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2012-01-10","x":"The commission as you put it - is the equivalent of swipe-fees that merchants have to pay to the bank. This is usually a…"},{"t":"What is the difference between commission fees and authorization fees in payment gateways?","u":"what-is-the-difference-between-commission-fees-and-authorization-fees-in-payment-gateways","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Pricing"],"p":[],"d":"2012-01-10","x":"The commission as you put it - is the equivalent of swipe-fees that merchants have to pay to the bank. This is usually a…"},{"t":"What are the requirements for a non-citizen to open a bank account in the United States?","u":"what-are-the-requirements-for-a-non-citizen-to-open-a-bank-account-in-the-united-states","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["Americas","Developed Markets"],"d":"2012-01-09","x":"For regular checking/savings account, a Tax Number is not required for opening an account. Most US chartered banks…"},{"t":"Why did Airbnb choose Braintree instead of PayPal for its payment system?","u":"why-did-airbnb-choose-braintree-instead-of-paypal-for-its-payment-system","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":[],"d":"2012-01-09","x":"PayPal is not offered everywhere in the world for payments. Not to mention how notorious PayPal is in reversals.…"},{"t":"What are the best non-government or non-state options for transferring money abroad?","u":"what-are-the-best-non-government-or-non-state-options-for-transferring-money-abroad","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2012-01-09","x":"Depends... Money Transfer using a Money exchange company Xoom ( www.xoom.com ) Bank Wire Transfer Send across a Pre-paid…"},{"t":"What options does an Indian startup have to use Authorize.net with a US bank and merchant account?","u":"what-options-does-an-indian-startup-have-to-use-authorizenet-with-a-us-bank-and-merchant-account","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","India"],"d":"2012-01-09","x":"Very few processors first of all work internationally, and even fewer will work on variably billing. Even if they did…"},{"t":"Which payment processors support merchants or companies based in Asia?","u":"which-payment-processors-support-merchants-or-companies-based-in-asia","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-01-09","x":"Having worked with 2Checkout (See www.2checkout.com ) I can personally say, they will work with Asian companies…"},{"t":"How can a business accept ACH or eCheck payments at the lowest possible cost?","u":"how-can-a-business-accept-ach-or-echeck-payments-at-the-lowest-possible-cost","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2012-01-09","x":"Typical cost per transaction charged by most companies hovers between 45 cents to 60 cents per cheque. Most companies…"},{"t":"Which banks or service providers offer low-cost ACH payments for small businesses?","u":"which-banks-or-service-providers-offer-low-cost-ach-payments-for-small-businesses","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2012-01-09","x":"ACH payments are usually handled for something like (average) 45 cents. Can\u0026#39;t get much lower than that. With your…"},{"t":"Which payment processors are suitable for adult or pornographic content businesses?","u":"which-payment-processors-are-suitable-for-adult-or-pornographic-content-businesses","c":"High-Risk Industries","s":["Adult Industry Payments","High-Risk Verticals"],"p":[],"d":"2012-01-09","x":"Some high-risk (adult) merchant processors: AMS Visa ( www.amsvisa.com ) eMerchant Pay ( www.emerchantpay.com ) Simple…"},{"t":"What do non-citizens need to open a U.S. bank account?","u":"what-do-non-citizens-need-to-open-a-us-bank-account","c":"Opening Bank Accounts, Personal and Business","s":["Bank Account Opening","US Bank Accounts for Foreigners"],"p":["Americas","Developed Markets"],"d":"2012-01-09","x":"For regular checking/savings account, a Tax Number is not required for opening an account. Most US chartered banks…"},{"t":"Why did Airbnb choose Braintree over PayPal for processing payments?","u":"why-did-airbnb-choose-braintree-over-paypal-for-processing-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":[],"d":"2012-01-09","x":"PayPal is not offered everywhere in the world for payments. Not to mention how notorious PayPal is in reversals.…"},{"t":"What’s the best non-state method to transfer money internationally?","u":"whats-the-best-non-state-method-to-transfer-money-internationally","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2012-01-09","x":"Depends... Money Transfer using a Money exchange company Xoom ( www.xoom.com ) Bank Wire Transfer Send across a Pre-paid…"},{"t":"How can an Indian startup use Authorize.net with a U.S. bank and merchant account?","u":"how-can-an-indian-startup-use-authorizenet-with-a-us-bank-and-merchant-account","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","India"],"d":"2012-01-09","x":"Very few processors first of all work internationally, and even fewer will work on variably billing. Even if they did…"},{"t":"What payment processors work well for Asian merchants?","u":"what-payment-processors-work-well-for-asian-merchants","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-01-09","x":"Having worked with 2Checkout (See www.2checkout.com ) I can personally say, they will work with Asian companies…"},{"t":"How can businesses accept ACH or eCheck payments with minimal fees?","u":"how-can-businesses-accept-ach-or-echeck-payments-with-minimal-fees","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2012-01-09","x":"Typical cost per transaction charged by most companies hovers between 45 cents to 60 cents per cheque. Most companies…"},{"t":"What banks or services offer affordable ACH payment options for small businesses?","u":"what-banks-or-services-offer-affordable-ach-payment-options-for-small-businesses","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2012-01-09","x":"ACH payments are usually handled for something like (average) 45 cents. Can\u0026#39;t get much lower than that. With your…"},{"t":"Which payment processors accept adult industry transactions?","u":"which-payment-processors-accept-adult-industry-transactions","c":"High-Risk Industries","s":["Adult Industry Payments","High-Risk Verticals"],"p":[],"d":"2012-01-09","x":"Some high-risk (adult) merchant processors: AMS Visa ( www.amsvisa.com ) eMerchant Pay ( www.emerchantpay.com ) Simple…"},{"t":"How can you revoke a vendor’s ACH access to your checking account?","u":"how-can-you-revoke-a-vendors-ach-access-to-your-checking-account","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2012-01-08","x":"You can do one of two things: Put a stop payment claim with your bank (for one-time payments) Request your bank to…"},{"t":"How can a business revoke a vendor’s ACH debit authorization from its bank account?","u":"how-can-a-business-revoke-a-vendors-ach-debit-authorization-from-its-bank-account","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2012-01-08","x":"You can do one of two things: Put a stop payment claim with your bank (for one-time payments) Request your bank to…"},{"t":"Which companies provide money order processing services?","u":"which-companies-provide-money-order-processing-services","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Remittance Agents"],"p":[],"d":"2012-01-08","x":"There are 100s of companies if not 1000s. Each operating in their own niche / country / region / currency. The…"},{"t":"How can I transfer $1,500 from the US to Australia with minimal fees?","u":"how-can-i-transfer-1500-from-the-us-to-australia-with-minimal-fees","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Australia","Australian Dollar"],"d":"2012-01-08","x":"Use the same bank on both sides of the pond (if possible) - HSBC, Bank of America, Citibank, etc. In such cases the…"},{"t":"Which US bank offers the cheapest international wire transfers?","u":"which-us-bank-offers-the-cheapest-international-wire-transfers","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["United States"],"d":"2012-01-08","x":"Please be aware, that there are two additional charges you may have to pay for: 1. If the bank you are currently dealing…"},{"t":"Is there a way to monitor and trace where money flows after it leaves an account?","u":"is-there-a-way-to-monitor-and-trace-where-money-flows-after-it-leaves-an-account","c":"Economics, Inflation and Monetary Policy","s":["Commercial Bank Money","Currency"],"p":[],"d":"2012-01-08","x":"Money supply is very accurately measured by various Money Supply heads (M0, M1, M2, M3, etc.), which also includes the…"},{"t":"Why do banks only make limited transaction history available online?","u":"why-do-banks-only-make-limited-transaction-history-available-online","c":"How Banks Work","s":["Banks","Bank Records"],"p":[],"d":"2012-01-08","x":"I think this has to do with Economics, and Probability. Economics: The more data they keep, the more resources it takes…"},{"t":"What other technologies can replace QR codes for payments or marketing?","u":"what-other-technologies-can-replace-qr-codes-for-payments-or-marketing","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":[],"d":"2012-01-08","x":"Quite a few alternatives: Bokode Aztec Code Data Matrix CueCat Microsoft Tag PDF417 (stacked barcode) Semacode ShotCode…"},{"t":"Which companies provide money order processing?","u":"which-companies-provide-money-order-processing","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","Remittance Agents"],"p":[],"d":"2012-01-08","x":"There are 100s of companies if not 1000s. Each operating in their own niche / country / region / currency. The…"},{"t":"How can I send $1,500 from the U.S. to Australia while minimizing fees?","u":"how-can-i-send-1500-from-the-us-to-australia-while-minimizing-fees","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Australia","Developed Markets"],"d":"2012-01-08","x":"Use the same bank on both sides of the pond (if possible) - HSBC, Bank of America, Citibank, etc. In such cases the…"},{"t":"Which U.S. bank offers the lowest-cost international wire transfers?","u":"which-us-bank-offers-the-lowest-cost-international-wire-transfers","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2012-01-08","x":"Please be aware, that there are two additional charges you may have to pay for: 1. If the bank you are currently dealing…"},{"t":"Is it possible to track and analyze where money flows?","u":"is-it-possible-to-track-and-analyze-where-money-flows","c":"Economics, Inflation and Monetary Policy","s":["Commercial Bank Money","Currency"],"p":[],"d":"2012-01-08","x":"Money supply is very accurately measured by various Money Supply heads (M0, M1, M2, M3, etc.), which also includes the…"},{"t":"Why do banks restrict the amount of transaction history available online?","u":"why-do-banks-restrict-the-amount-of-transaction-history-available-online","c":"How Banks Work","s":["Banks","Retail Banking"],"p":[],"d":"2012-01-08","x":"I think this has to do with Economics, and Probability. Economics: The more data they keep, the more resources it takes…"},{"t":"Which acquiring bank works best with QuickPay for international transactions?","u":"which-acquiring-bank-works-best-with-quickpay-for-international-transactions","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2012-01-07","x":"If you are looking at non-tangible good, digital delivery, Plimus is a good option to check out. Alternatively, I would…"},{"t":"What legal requirements are mandatory for a UK-based international money transfer startup?","u":"what-legal-requirements-are-mandatory-for-a-uk-based-international-money-transfer-startup","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["UK Licensing","Payment Institutions (PI)"],"p":["Developed Markets","EMEA"],"d":"2012-01-07","x":"Must have legals are a Compliance Officer in your organisation. The FSA (Financial Services Authority) has now ceased to…"},{"t":"How does Square process card payments without requiring merchants to have traditional merchant accounts?","u":"how-does-square-process-card-payments-without-requiring-merchants-to-have-traditional-merchant-accou","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2012-01-07","x":"Absolutely Yes. I am surprised people have answered no. A whole industry existis that allows people like you…"},{"t":"Is there a PayPal-like service focused specifically on invoicing?","u":"is-there-a-paypal-like-service-focused-specifically-on-invoicing","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Online Payment Platforms","Freelancer Payments"],"p":[],"d":"2012-01-07","x":"You can use an application like www.Freshbooks.com that can easily handle invoicing for you. The free version is…"},{"t":"Which acquiring bank or partner works best with QuickPay for international payments?","u":"which-acquiring-bank-or-partner-works-best-with-quickpay-for-international-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2012-01-07","x":"If you are looking at non-tangible good, digital delivery, Plimus is a good option to check out. Alternatively, I would…"},{"t":"What legal requirements are essential for a UK-based international money transfer startup?","u":"what-legal-requirements-are-essential-for-a-uk-based-international-money-transfer-startup","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["UK Licensing","Payment Institutions (PI)"],"p":["Developed Markets","EMEA"],"d":"2012-01-07","x":"Must have legals are a Compliance Officer in your organisation. The FSA (Financial Services Authority) has now ceased to…"},{"t":"What’s the fastest service for sending remittances to India?","u":"whats-the-fastest-service-for-sending-remittances-to-india","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2012-01-07","x":"The one that comes to mind immediately is Remit2India - see their website: http://www.timesofmoney.com/"},{"t":"How does Square enable credit card payments without requiring a traditional merchant account?","u":"how-does-square-enable-credit-card-payments-without-requiring-a-traditional-merchant-account","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2012-01-07","x":"Absolutely Yes. I am surprised people have answered no. A whole industry existis that allows people like you…"},{"t":"What are the standard procedures to reverse or dispute an ACH transaction?","u":"what-are-the-standard-procedures-to-reverse-or-dispute-an-ach-transaction","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2012-01-06","x":"With the financial institution we use to reverse the transaction, we have to file a ACH reversal request that needs to…"},{"t":"What steps are required to reverse or dispute an ACH transaction?","u":"what-steps-are-required-to-reverse-or-dispute-an-ach-transaction","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Payment Infrastructure"],"p":[],"d":"2012-01-06","x":"With the financial institution we use to reverse the transaction, we have to file a ACH reversal request that needs to…"},{"t":"What online billing options suit Indian service providers with domestic and international clients?","u":"what-online-billing-options-suit-indian-service-providers-with-domestic-and-international-clients","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","India"],"d":"2012-01-04","x":"ccAvenue (see www.ccavenue.com immediately comes to mind. They are one of the largest payment gateways that operate both…"},{"t":"Is there demand for an online incubator for early-stage startups?","u":"is-there-demand-for-an-online-incubator-for-early-stage-startups","c":"Starting and Running a Fintech or Payments Business","s":["Operations"],"p":[],"d":"2012-01-04","x":"I personally feel online incubation has its limitations. Incubation really requires that the start-up is properly guided…"},{"t":"How saturated is the money-transfer startup market, and how capital-intensive is it to build?","u":"how-saturated-is-the-money-transfer-startup-market-and-how-capital-intensive-is-it-to-build","c":"Money Transfer Business and MTOs","s":["Starting a Remittance Business","Money Transfer Operators (MTO)"],"p":[],"d":"2012-01-04","x":"The market is saturated / not-saturated depends which two geographic regions you are working in (From/To countries).…"},{"t":"Which payment gateways work internationally without requiring a registered company?","u":"which-payment-gateways-work-internationally-without-requiring-a-registered-company","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":[],"d":"2012-01-04","x":"You might want to check out 2CO (See www.2Checkout.com ). They operate all over the world, and you don\u0026#39;t necessarily…"},{"t":"Are there billing or invoicing solutions in India that work for both domestic and international clients?","u":"are-there-billing-or-invoicing-solutions-in-india-that-work-for-both-domestic-and-international-clie","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":["Asia","India"],"d":"2012-01-04","x":"ccAvenue (see www.ccavenue.com immediately comes to mind. They are one of the largest payment gateways that operate both…"},{"t":"How competitive is the money transfer startup market, and how capital-intensive is it to enter?","u":"how-competitive-is-the-money-transfer-startup-market-and-how-capital-intensive-is-it-to-enter","c":"Money Transfer Business and MTOs","s":["Starting a Remittance Business","Money Transfer Operators (MTO)"],"p":[],"d":"2012-01-04","x":"The market is saturated / not-saturated depends which two geographic regions you are working in (From/To countries).…"},{"t":"Are there international payment systems that don’t require a registered company?","u":"are-there-international-payment-systems-that-dont-require-a-registered-company","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":[],"d":"2012-01-04","x":"You might want to check out 2CO (See www.2Checkout.com ). They operate all over the world, and you don\u0026#39;t necessarily…"},{"t":"Does PayPal comply with USA PATRIOT Act requirements?","u":"does-paypal-comply-with-usa-patriot-act-requirements","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Policies and Procedures"],"p":["Americas","North America"],"d":"2012-01-03","x":"PayPal does comply with the PATRIOT Act. Non-verified accounts have a cap on them as far as transaction frequency and…"},{"t":"Does Xoom provide an API for integration?","u":"does-xoom-provide-an-api-for-integration","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Payment Integration"],"p":[],"d":"2012-01-03","x":"As of 7th Jan 2014. No. They do not offer any developer tools / APIs for integration."},{"t":"Is PayPal compliant with the USA PATRIOT Act?","u":"is-paypal-compliant-with-the-usa-patriot-act","c":"AML Programs, KYC and Compliance Operations","s":["Anti-Money Laundering (AML)","AML Policies and Procedures"],"p":["Americas","North America"],"d":"2012-01-03","x":"PayPal does comply with the PATRIOT Act. Non-verified accounts have a cap on them as far as transaction frequency and…"},{"t":"Does Xoom provide an API for integrating money transfer functionality?","u":"does-xoom-provide-an-api-for-integrating-money-transfer-functionality","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Payment Integration"],"p":[],"d":"2012-01-03","x":"As of 7th Jan 2014. No. They do not offer any developer tools / APIs for integration."},{"t":"How do online advertising networks manage and distribute payments to publishers?","u":"how-do-online-advertising-networks-manage-and-distribute-payments-to-publishers","c":"E-Commerce, Marketplace and Platform Payments","s":["Disbursements","Mass Payouts"],"p":[],"d":"2012-01-03","x":"Most of them provide options, either via PayPal, Bank Wire Transfer or Western Union. All three options as listed above…"},{"t":"Why are domestic MoneyGram transfers often more expensive than international ones?","u":"why-are-domestic-moneygram-transfers-often-more-expensive-than-international-ones","c":"Payment Operations, Pricing and Fees","s":["Payment Fees"],"p":[],"d":"2011-12-12","x":"In short: Federal guidelines for cloud computing providers, enabling them to meet a certain set of requirements, which…"},{"t":"How can you pay someone on your site if you only have their credit card number?","u":"how-can-you-pay-someone-on-your-site-if-you-only-have-their-credit-card-number","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Payment APIs"],"p":[],"d":"2011-12-12","x":"This would depend on whom you opt for as your ACH processor. They would most likely provide you with their API for…"},{"t":"Which nation introduced paper money first in history?","u":"which-nation-introduced-paper-money-first-in-history","c":"History of Money, Banking and Finance","s":["History of Payment Systems","Economic History"],"p":[],"d":"2011-12-12","x":"In the US, you have 90 days to file for a charge back on any direct debit. Whether the charge was done via a physical…"},{"t":"How do wire transfers and telegraphic transfers differ?","u":"how-do-wire-transfers-and-telegraphic-transfers-differ","c":"International Wire Transfers and Large Transfers","s":["Large International Transfers"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-12-12","x":"To answer your question - the differences are subtle, but more or less the same. When you use a Visa / Mastercard…"},{"t":"What is FedRAMP and why is it important?","u":"what-is-fedramp-and-why-is-it-important","c":"Cybersecurity, Digital Identity and Authentication","s":["Cybersecurity","Data Security"],"p":[],"d":"2011-12-12","x":"In short: Federal guidelines for cloud computing providers, enabling them to meet a certain set of requirements, which…"},{"t":"Which ACH API is best suited for pulling funds from a customer’s bank account?","u":"which-ach-api-is-best-suited-for-pulling-funds-from-a-customers-bank-account","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment APIs","Payment Integration"],"p":[],"d":"2011-12-12","x":"This would depend on whom you opt for as your ACH processor. They would most likely provide you with their API for…"},{"t":"Is there an equivalent of a credit card chargeback for PayPal payments made via direct bank debit?","u":"is-there-an-equivalent-of-a-credit-card-chargeback-for-paypal-payments-made-via-direct-bank-debit","c":"Consumer Protection, Customer Rights and Customer Service","s":["Refunds and Reversals","Complaints and Disputes"],"p":["Americas","Developed Markets"],"d":"2011-12-12","x":"In the US, you have 90 days to file for a charge back on any direct debit. Whether the charge was done via a physical…"},{"t":"How do online payment systems in India differ from those used in the United States?","u":"how-do-online-payment-systems-in-india-differ-from-those-used-in-the-united-states","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Payment Routing"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-12-12","x":"To answer your question - the differences are subtle, but more or less the same. When you use a Visa / Mastercard…"},{"t":"Does Stripe allow payouts to bank accounts outside the U.S.?","u":"does-stripe-allow-payouts-to-bank-accounts-outside-the-us","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2011-12-11","x":"Typical online transaction time varies on the card / network used (out of State/Country transaction can take a little…"},{"t":"What is the average processing time for a credit card transaction?","u":"what-is-the-average-processing-time-for-a-credit-card-transaction","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Processors"],"p":[],"d":"2011-12-11","x":"Typical online transaction time varies on the card / network used (out of State/Country transaction can take a little…"},{"t":"What’s the top payment gateway for merchants in the Netherlands?","u":"whats-the-top-payment-gateway-for-merchants-in-the-netherlands","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Developed Markets","EMEA"],"d":"2011-12-08","x":"You might want to look up Verotel ( www.verotel.com ). They are one of the oldest processors physically based out of…"},{"t":"What improvements could make PayPal better for users and businesses?","u":"what-improvements-could-make-paypal-better-for-users-and-businesses","c":"Consumer Protection, Customer Rights and Customer Service","s":["Customer Service Problems"],"p":[],"d":"2011-12-08","x":"Customer Service: By providing 1-800 number for customers to call and be able to get a person to speak to, to resolve…"},{"t":"What refund options exist for users canceling processed virtual currency purchases?","u":"what-refund-options-exist-for-users-canceling-processed-virtual-currency-purchases","c":"Consumer Protection, Customer Rights and Customer Service","s":["Refunds and Reversals","Consumer Protection"],"p":["United States Dollar"],"d":"2011-12-08","x":"If the ecosystem in which you have purchased the virtual currency, does not provide you with a mechanism for reverting…"},{"t":"Are users who buy virtual currency on one platform likely to spend on others?","u":"are-users-who-buy-virtual-currency-on-one-platform-likely-to-spend-on-others","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":[],"d":"2011-12-08","x":"Yes, people do. But the caveat to the statement is that they are interacting with that platform long enough to justify…"},{"t":"What’s required to operate an SMS subscription service in Pakistan?","u":"whats-required-to-operate-an-sms-subscription-service-in-pakistan","c":"Licensing in Other Countries","s":["Licensing Comparison by Country"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-12-07","x":"The mobile market inherently is outpacing the fixed computer / laptop market. If for example you were to ask how many…"},{"t":"Why do credit card issuers take a percentage from merchants on each transaction?","u":"why-do-credit-card-issuers-take-a-percentage-from-merchants-on-each-transaction","c":"Payment Operations, Pricing and Fees","s":["Payment Operations"],"p":[],"d":"2011-12-07","x":"Having been through what you are writing, here was my approach. Rather than struggling with code, etc. I spent good 3…"},{"t":"How quickly would I receive my insured money if an FDIC-insured bank fails?","u":"how-quickly-would-i-receive-my-insured-money-if-an-fdic-insured-bank-fails","c":"Central Banks and Bank Supervision","s":["Banking Economics"],"p":[],"d":"2011-12-07","x":"Short version: The donation campaign was completed in a couple of hours, Paypal was alerted (presumably via internal…"},{"t":"What actually happened in the dispute between PayPal and Regretsy?","u":"what-actually-happened-in-the-dispute-between-paypal-and-regretsy","c":"Consumer Protection, Customer Rights and Customer Service","s":["Complaints and Disputes","Frozen Accounts and Holds"],"p":[],"d":"2011-12-07","x":"Short version: The donation campaign was completed in a couple of hours, Paypal was alerted (presumably via internal…"},{"t":"Which payment gateways are suitable for a self-hosted e-commerce store in India?","u":"which-payment-gateways-are-suitable-for-a-self-hosted-e-commerce-store-in-india","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-12-04","x":"If you sell digital books, etc. look at payment processors who specialize at digital goods sales and delivery, the one…"},{"t":"Is it possible to send money to Russia from the U.S. using PayPal or similar services?","u":"is-it-possible-to-send-money-to-russia-from-the-us-using-paypal-or-similar-services","c":"Sending and Receiving Money Abroad","s":["Money Transfer"],"p":["Restricted Jurisdictions","Russia"],"d":"2011-12-04","x":"Here is my answer to this question, from a world view and not just concentric to a specific geographic area: The glut…"},{"t":"How do I choose and obtain the right merchant account for my business?","u":"how-do-i-choose-and-obtain-the-right-merchant-account-for-my-business","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2011-12-04","x":"If you sell digital books, etc. look at payment processors who specialize at digital goods sales and delivery, the one…"},{"t":"Are there digital platforms offering electronic Letters of Credit (LC)?","u":"are-there-digital-platforms-offering-electronic-letters-of-credit-lc","c":"Trade Finance, Letters of Credit and B2B Payments","s":["Import Payments"],"p":[],"d":"2011-11-11","x":"Pre-paid Debit Cards or Pre-paid Credit Cards. That would be the only other option I can think of to fund where charge…"},{"t":"Are there alternatives to credit cards for accessing card-based payment services?","u":"are-there-alternatives-to-credit-cards-for-accessing-card-based-payment-services","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards","Prepaid Cards"],"p":[],"d":"2011-11-11","x":"Pre-paid Debit Cards or Pre-paid Credit Cards. That would be the only other option I can think of to fund where charge…"},{"t":"Which reliable and low-cost methods can businesses in Pakistan use to get paid online?","u":"which-reliable-and-low-cost-methods-can-businesses-in-pakistan-use-to-get-paid-online","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-11-10","x":"Emerging markets like India cannot be ignored (with respect to market size). Economic regions such as South Asia \u0026amp; South…"},{"t":"What’s the process if a cashier’s check is lost or destroyed before deposit?","u":"whats-the-process-if-a-cashiers-check-is-lost-or-destroyed-before-deposit","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","US Licensing"],"p":[],"d":"2011-11-10","x":"Short answer: Yes they would be classified under a money transmitter category Yes they require a license No, they don\u0026#39;t…"},{"t":"What costs do banks face when dealing with a bounced check?","u":"what-costs-do-banks-face-when-dealing-with-a-bounced-check","c":"How Banks Work","s":["Banks","Commercial Banking"],"p":[],"d":"2011-11-10","x":"Peter Goldfinch for anything to do with mobile payments. He used to work for GFG Group ( www.gfg-group.com ), but now…"},{"t":"Which institutions act as primary dealers for the US Federal Reserve?","u":"which-institutions-act-as-primary-dealers-for-the-us-federal-reserve","c":"Central Banks and Bank Supervision","s":["Central Banks","Banking Economics"],"p":["United States"],"d":"2011-11-10","x":"U.S. Federal Reserve publishes this list on the FR (NY) website: http://www.ny.frb.org/markets/pr..."},{"t":"Can Chinese Square-like card readers be used in India and what approvals are required?","u":"can-chinese-square-like-card-readers-be-used-in-india-and-what-approvals-are-required","c":"Licensing in Other Countries","s":["India Payment Licensing (RBI)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-11-10","x":"Emerging markets like India cannot be ignored (with respect to market size). Economic regions such as South Asia \u0026amp; South…"},{"t":"Is Airbnb legally classified as a money transmitter?","u":"is-airbnb-legally-classified-as-a-money-transmitter","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":[],"d":"2011-11-10","x":"Short answer: Yes they would be classified under a money transmitter category Yes they require a license No, they don\u0026#39;t…"},{"t":"Who are the leading experts or thought leaders in modern payment systems?","u":"who-are-the-leading-experts-or-thought-leaders-in-modern-payment-systems","c":"Payments (General)","s":["Payment Methods","Payment System Modernization"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-11-10","x":"Peter Goldfinch for anything to do with mobile payments. He used to work for GFG Group ( www.gfg-group.com ), but now…"},{"t":"What’s the most secure and affordable way to transfer money online?","u":"whats-the-most-secure-and-affordable-way-to-transfer-money-online","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Peer-to-Peer Payments"],"p":[],"d":"2011-11-09","x":"For online P2P payments, the predecessor of PayPal was a company called X.com - and they truly initiated the first…"},{"t":"Was PayPal the first online payment company?","u":"was-paypal-the-first-online-payment-company","c":"History of Money, Banking and Finance","s":["History of Payment Systems","Financial History"],"p":[],"d":"2011-11-09","x":"For online P2P payments, the predecessor of PayPal was a company called X.com - and they truly initiated the first…"},{"t":"Why is Facebook allowed to operate as a money transmitter in some states without a license?","u":"why-is-facebook-allowed-to-operate-as-a-money-transmitter-in-some-states-without-a-license","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":["United States Dollar"],"d":"2011-11-09","x":"Question is, if Facebook Payments, Inc. is actually doing money transmission business? My understanding is the current…"},{"t":"Which Indian laws regulate e-commerce fraud and online scams?","u":"which-indian-laws-regulate-e-commerce-fraud-and-online-scams","c":"Merchant Accounts, Processors and Gateways","s":["Merchant Accounts","Payment Processors"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-11-08","x":"Not necessarily. Quick money transfers how? The money regardless would be settled into your business account (be it you…"},{"t":"Is it better to obtain a merchant account directly from a bank?","u":"is-it-better-to-obtain-a-merchant-account-directly-from-a-bank","c":"Merchant Accounts, Processors and Gateways","s":["Merchant Accounts","Payment Processors"],"p":[],"d":"2011-11-08","x":"Not necessarily. Quick money transfers how? The money regardless would be settled into your business account (be it you…"},{"t":"What percentage of U.S. customers opt in to telemarketing, email, or postal marketing?","u":"what-percentage-of-us-customers-opt-in-to-telemarketing-email-or-postal-marketing","c":"General Finance Questions","s":["Uncategorised"],"p":["Americas","Developed Markets"],"d":"2011-11-08","x":"Can answer from opt-in emails point-of-view (having managed many high-traffic blogs), the number is like 1-in-1000 to…"},{"t":"What’s the best method to add a Q\u0026A section to an e-commerce site?","u":"whats-the-best-method-to-add-a-qampa-section-to-an-e-commerce-site","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments"],"p":[],"d":"2011-11-08","x":"Use some kind of a registration / login process, OpenID, Twitter/FB connect for users to have before they can post…"},{"t":"When does it make sense for a small company to start paying for dedicated office space?","u":"when-does-it-make-sense-for-a-small-company-to-start-paying-for-dedicated-office-space","c":"Starting and Running a Fintech or Payments Business","s":["Operations"],"p":[],"d":"2011-11-07","x":"I\u0026#39;d like to give you a an answer to this, but it can be best summed up by a TED talk Jason Fried (CEO of 37 Signals)…"},{"t":"What advice would you give to someone ready to launch a business with a name and idea in place?","u":"what-advice-would-you-give-to-someone-ready-to-launch-a-business-with-a-name-and-idea-in-place","c":"Business Strategy, Case Studies and Lessons Learned","s":["Startup Advice","Business Lessons"],"p":[],"d":"2011-11-07","x":"So many thoughts and answers come to mind on a simple yet all-encompassing Question like this. We all will have our own…"},{"t":"How do commission fees differ from authorization fees in payment gateways?","u":"how-do-commission-fees-differ-from-authorization-fees-in-payment-gateways","c":"Payment Operations, Pricing and Fees","s":["Payment Fees","Payment Operations"],"p":[],"d":"2011-11-07","x":"Unless Clover.com is a d/b/a/ their name is not in the list: http://www.dfi.ca.gov/directory/..."},{"t":"Does Clover hold a money transmitter license in California?","u":"does-clover-hold-a-money-transmitter-license-in-california","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":["California","United States"],"d":"2011-11-07","x":"Unless Clover.com is a d/b/a/ their name is not in the list: http://www.dfi.ca.gov/directory/..."},{"t":"What safe online services besides PayPal, Xoom, and banks can send money internationally straight to bank accounts?","u":"what-safe-online-services-besides-paypal-xoom-and-banks-can-send-money-internationally-straight-to-b","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2011-11-07","x":"An online wire transfer from your bank is still the safest and most economical way of transferring money from one place…"},{"t":"How should you approach competitors if your startup’s growth stalls?","u":"how-should-you-approach-competitors-if-your-startups-growth-stalls","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance"],"p":[],"d":"2011-11-07","x":"There is a saying in Poker, \u0026#34;there is no shame in putting your hand down\u0026#34;. Many pundits would give you 1000s of lines of…"},{"t":"What payment/e-commerce platform lets me run a social network store where users upload products and I take a commission?","u":"what-paymente-commerce-platform-lets-me-run-a-social-network-store-where-users-upload-products-and-i","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Platform Payments"],"p":[],"d":"2011-11-05","x":"Luup goes into each country that they operate and work with both the mobile company and the local banks. Their…"},{"t":"Where can developers find an active PayPal community?","u":"where-can-developers-find-an-active-paypal-community","c":"Developer Tools, APIs, Sandboxes and Open Source","s":["Payment Integration","Payment APIs"],"p":[],"d":"2011-11-05","x":"Your best bet is: http://paypaldev.org/ Another side option: https://www.x.com/developers/pay..."},{"t":"Are travelers’ cheques still a practical option today?","u":"are-travelers-cheques-still-a-practical-option-today","c":"Payments (General)","s":["Traveler's Checks","Payment Methods"],"p":[],"d":"2011-11-03","x":"Fewer and few places are now accepting travelers cheques than ever before. Besides the time it now takes to en-cash them…"},{"t":"Which countries allow invoicing in a currency other than the local legal tender?","u":"which-countries-allow-invoicing-in-a-currency-other-than-the-local-legal-tender","c":"Payments (General)","s":["Payment Basics","Payment Products"],"p":["India","Swiss Franc"],"d":"2011-11-03","x":"You can write an invoice in almost every currency in your local country, provided there is an exchange rate you can…"},{"t":"Why are MoneyGram domestic transfers often pricier than international transfers?","u":"why-are-moneygram-domestic-transfers-often-pricier-than-international-transfers","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","MTO Economics"],"p":[],"d":"2011-11-03","x":"Up front, I will admit, I do not know exactly why this occurs, but I could fathom a guess. In traditional overseas…"},{"t":"In which countries can invoices be issued in a foreign currency for local transactions?","u":"in-which-countries-can-invoices-be-issued-in-a-foreign-currency-for-local-transactions","c":"Payments (General)","s":["Payment Basics","Payment Products"],"p":["India","Swiss Franc"],"d":"2011-11-03","x":"You can write an invoice in almost every currency in your local country, provided there is an exchange rate you can…"},{"t":"Why does MoneyGram often charge more for domestic US transfers than for international ones?","u":"why-does-moneygram-often-charge-more-for-domestic-us-transfers-than-for-international-ones","c":"Money Transfer Business and MTOs","s":["Money Transfer Operators (MTO)","MTO Economics"],"p":["Americas","Developed Markets"],"d":"2011-11-03","x":"Up front, I will admit, I do not know exactly why this occurs, but I could fathom a guess. In traditional overseas…"},{"t":"What’s the best way to pay a site user if all I have is their credit card number?","u":"whats-the-best-way-to-pay-a-site-user-if-all-i-have-is-their-credit-card-number","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2011-11-01","x":"To the best of my knowledge, you cannot credit a person\u0026#39;s credit card with money, if it was not charged in the first…"},{"t":"How can money be sent to a user if only their credit card number is known?","u":"how-can-money-be-sent-to-a-user-if-only-their-credit-card-number-is-known","c":"Credit, Debit and Prepaid Cards","s":["Credit Cards"],"p":[],"d":"2011-11-01","x":"To the best of my knowledge, you cannot credit a person\u0026#39;s credit card with money, if it was not charged in the first…"},{"t":"For a social network where I own the store and users list products while I take a cut, what platforms support that model?","u":"for-a-social-network-where-i-own-the-store-and-users-list-products-while-i-take-a-cut-what-platforms","c":"E-Commerce, Marketplace and Platform Payments","s":["Marketplace Payments","E-Commerce Payments"],"p":[],"d":"2011-10-12","x":"It seems you are looking at two things here: An app for users to upload their (digital) products, so essentially you\u0026#39;re…"},{"t":"What’s the simplest way to add paid memberships to a consumer website?","u":"whats-the-simplest-way-to-add-paid-memberships-to-a-consumer-website","c":"E-Commerce, Marketplace and Platform Payments","s":["Subscription Billing","Recurring Payments"],"p":[],"d":"2011-10-12","x":"There are many such sites (the term you are looking for is membership sites ): SubHub ( www.subhub.com ) MemberGate (…"},{"t":"What platforms allow a marketplace model where users upload products and the platform takes a commission?","u":"what-platforms-allow-a-marketplace-model-where-users-upload-products-and-the-platform-takes-a-commis","c":"E-Commerce, Marketplace and Platform Payments","s":["Marketplace Payments","E-Commerce Payments"],"p":[],"d":"2011-10-12","x":"It seems you are looking at two things here: An app for users to upload their (digital) products, so essentially you\u0026#39;re…"},{"t":"What is the best online payment solution for internationally focused startups?","u":"what-is-the-best-online-payment-solution-for-internationally-focused-startups","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-10-11","x":"Not having any a priori information on on how international you are and what exactly you will be selling (goods or…"},{"t":"What’s the simplest way to add a paid membership fee to a consumer website?","u":"whats-the-simplest-way-to-add-a-paid-membership-fee-to-a-consumer-website","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":["Americas","Canada"],"d":"2011-10-10","x":"Unless it is not offered in your geographic area, you would be hard pressed to find a legal alternative of using your…"},{"t":"What’s the best online payment solution for startups selling internationally?","u":"whats-the-best-online-payment-solution-for-startups-selling-internationally","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2011-10-10","x":"The two service providers I would recommend are: ACHq - www.achq.com National ACH - www.nationalach.com Both would be…"},{"t":"How can a Canadian company legally use US-based payment processors?","u":"how-can-a-canadian-company-legally-use-us-based-payment-processors","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Americas","Canada"],"d":"2011-10-10","x":"Unless it is not offered in your geographic area, you would be hard pressed to find a legal alternative of using your…"},{"t":"Which ACH providers are considered the most reliable for online payments?","u":"which-ach-providers-are-considered-the-most-reliable-for-online-payments","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["ACH","Account-to-Account Payments"],"p":[],"d":"2011-10-10","x":"The two service providers I would recommend are: ACHq - www.achq.com National ACH - www.nationalach.com Both would be…"},{"t":"How can a Canadian business work with U.S.-based payment processors?","u":"how-can-a-canadian-business-work-with-us-based-payment-processors","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors"],"p":["Americas","Canada"],"d":"2011-10-08","x":"Loyalty checkout with NFC is slated to be a big hit. Aneace Haddad, a veteran of the payment system industry, is doing…"},{"t":"If NFC payments fail to gain traction, what other uses will NFC have on smartphones?","u":"if-nfc-payments-fail-to-gain-traction-what-other-uses-will-nfc-have-on-smartphones","c":"Payments (General)","s":["Payment Methods","Payment Products"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-10-08","x":"Loyalty checkout with NFC is slated to be a big hit. Aneace Haddad, a veteran of the payment system industry, is doing…"},{"t":"Should online stores offer more payment options to customers?","u":"should-online-stores-offer-more-payment-options-to-customers","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Alternative Payment Methods"],"p":[],"d":"2011-10-08","x":"I think User-10406423438134497550 hits the nail on its head. It all depends on the demographics from where your…"},{"t":"Which TED Talks give the most value to entrepreneurs?","u":"which-ted-talks-give-the-most-value-to-entrepreneurs","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Insights","Business Lessons"],"p":[],"d":"2011-10-07","x":"Jason Fried, CEO of 37Signals on \u0026#34;Why Work Doesn\u0026#39;t Happen at Work\u0026#34; --- it is a really informative talk.…"},{"t":"What’s the most affordable way to send money from the UK to Mauritius?","u":"whats-the-most-affordable-way-to-send-money-from-the-uk-to-mauritius","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["British Pound Sterling","EMEA"],"d":"2011-10-07","x":"The cheapest method would be a Bank Wire Transfer. Bank Wire Transfers are based on a fixed price, and is converted at…"},{"t":"What’s the best way to get an online business off the ground?","u":"whats-the-best-way-to-get-an-online-business-off-the-ground","c":"Starting and Running a Fintech or Payments Business","s":["Operations"],"p":[],"d":"2011-10-07","x":"Every time I sit in front of my computer, I am itching to start something new. An idea. Implement it. Sell it. I see the…"},{"t":"If NFC payments don’t catch on soon, what will NFC most likely be used for on smartphones?","u":"if-nfc-payments-dont-catch-on-soon-what-will-nfc-most-likely-be-used-for-on-smartphones","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)"],"p":[],"d":"2011-10-07","x":"First of all, no method is fool-proof . What KYC aim to achieve is predominantly a physical name matching to the person…"},{"t":"What KYC checks does PayPal perform in the US and other regions?","u":"what-kyc-checks-does-paypal-perform-in-the-us-and-other-regions","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","Customer Due Diligence (CDD)"],"p":["United States"],"d":"2011-10-07","x":"First of all, no method is fool-proof . What KYC aim to achieve is predominantly a physical name matching to the person…"},{"t":"What unmet needs in India’s mobile banking and payments space could startups address?","u":"what-unmet-needs-in-indias-mobile-banking-and-payments-space-could-startups-address","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Interoperability","Payment Infrastructure"],"p":["Asia","India"],"d":"2011-10-06","x":"The mobile payment space in India is regulated by RBI and naturally governed by the big telcos. To offer any sort of…"},{"t":"How can you accept multi-currency online payments into one merchant account?","u":"how-can-you-accept-multi-currency-online-payments-into-one-merchant-account","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Merchant Accounts"],"p":[],"d":"2011-10-06","x":"Many online card processing companies offer global payments. The one that instantly comes to mind is Braintree (company)…"},{"t":"What gaps exist in India’s mobile banking and payments ecosystem for startups to address?","u":"what-gaps-exist-in-indias-mobile-banking-and-payments-ecosystem-for-startups-to-address","c":"Domestic Payment Rails, National Switches and Clearing Systems","s":["Payment Infrastructure","Payment Interoperability"],"p":["Asia","India"],"d":"2011-10-06","x":"The mobile payment space in India is regulated by RBI and naturally governed by the big telcos. To offer any sort of…"},{"t":"How can a business accept payments in multiple currencies into a single merchant account?","u":"how-can-a-business-accept-payments-in-multiple-currencies-into-a-single-merchant-account","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2011-10-06","x":"Many online card processing companies offer global payments. The one that instantly comes to mind is Braintree (company)…"},{"t":"What marketing investment offers the highest ROI for small businesses?","u":"what-marketing-investment-offers-the-highest-roi-for-small-businesses","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Insights","Business Lessons"],"p":[],"d":"2011-10-05","x":"Get the budget and money approved for some small swag, get into a cab or fly out if you have to and visit your existing…"},{"t":"What are the core principles behind a strong and stable banking system?","u":"what-are-the-core-principles-behind-a-strong-and-stable-banking-system","c":"Central Banks and Bank Supervision","s":["Banking Economics","Bank Capital"],"p":[],"d":"2011-10-05","x":"I am sure the banking experts will provide a much better answer, but IMHO its: Controlled Lending/Borrowing (exposure…"},{"t":"What are the core principles of a stable and sound banking system?","u":"what-are-the-core-principles-of-a-stable-and-sound-banking-system","c":"Central Banks and Bank Supervision","s":["Banking Economics","Reserve Adequacy"],"p":[],"d":"2011-10-05","x":"I am sure the banking experts will provide a much better answer, but IMHO its: Controlled Lending/Borrowing (exposure…"},{"t":"Are U.S. bank stocks falling due to Occupy Wall Street or Eurozone concerns?","u":"are-us-bank-stocks-falling-due-to-occupy-wall-street-or-eurozone-concerns","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Equities","Securities"],"p":["Developed Markets","Euro"],"d":"2011-10-04","x":"I seriously doubt American Banks stock will fall due to Occupy Wall Street protests. They are down, due to the exposure…"},{"t":"What’s the top online payment system for global transactions?","u":"whats-the-top-online-payment-system-for-global-transactions","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["China"],"d":"2011-10-04","x":"Even PayPal wouldn\u0026#39;t suffice for the requirement that would allow users for various countries (read: international) pay…"},{"t":"How does PayPal comply with or work around KYC rules under the USA PATRIOT Act?","u":"how-does-paypal-comply-with-or-work-around-kyc-rules-under-the-usa-patriot-act","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","Anti-Money Laundering (AML)"],"p":["Americas","Developed Markets"],"d":"2011-10-04","x":"PayPal uses a pre-screened method, which implies that the financial instruments you use to open a PayPal account are…"},{"t":"What KYC checks does Xoom perform on senders and receivers in the U.S. and abroad?","u":"what-kyc-checks-does-xoom-perform-on-senders-and-receivers-in-the-us-and-abroad","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","Anti-Money Laundering (AML)"],"p":["United States"],"d":"2011-10-04","x":"For Xoom any money being sent, has already been KYC screened as you have to use a Credit Card or Bank Account to fund…"},{"t":"What does the banking consolidation graphic represent or explain?","u":"what-does-the-banking-consolidation-graphic-represent-or-explain","c":"General Finance Questions","s":["Finance Terminology","General Finance Questions"],"p":[],"d":"2011-10-04","x":"Its a graphical representation (over time) showing how the various banks were merged into one another (i.e.…"},{"t":"Are US bank stocks affected more by Eurozone concerns or domestic protest movements?","u":"are-us-bank-stocks-affected-more-by-eurozone-concerns-or-domestic-protest-movements","c":"Capital Markets: Stocks, Bonds and Derivatives","s":["Equities","Securities"],"p":["Developed Markets","Euro"],"d":"2011-10-04","x":"I seriously doubt American Banks stock will fall due to Occupy Wall Street protests. They are down, due to the exposure…"},{"t":"What is considered the best international online payment system today?","u":"what-is-considered-the-best-international-online-payment-system-today","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["China"],"d":"2011-10-04","x":"Even PayPal wouldn\u0026#39;t suffice for the requirement that would allow users for various countries (read: international) pay…"},{"t":"How does PayPal comply with or work around KYC requirements under US law?","u":"how-does-paypal-comply-with-or-work-around-kyc-requirements-under-us-law","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","Anti-Money Laundering (AML)"],"p":["Americas","Developed Markets"],"d":"2011-10-04","x":"PayPal uses a pre-screened method, which implies that the financial instruments you use to open a PayPal account are…"},{"t":"What KYC checks does Xoom perform on senders and recipients across different countries?","u":"what-kyc-checks-does-xoom-perform-on-senders-and-recipients-across-different-countries","c":"AML Programs, KYC and Compliance Operations","s":["Know Your Customer (KYC)","Anti-Money Laundering (AML)"],"p":[],"d":"2011-10-04","x":"For Xoom any money being sent, has already been KYC screened as you have to use a Credit Card or Bank Account to fund…"},{"t":"What are the biggest IT hurdles for small businesses today?","u":"what-are-the-biggest-it-hurdles-for-small-businesses-today","c":"General Finance Questions","s":["General","Uncategorised"],"p":["United States Dollar"],"d":"2011-10-02","x":"....or in simple words: Don\u0026#39;t setup an email server on premises. Just get email from Gmail (US$ 40/user per year) and…"},{"t":"Can you open a merchant account without having a credit score?","u":"can-you-open-a-merchant-account-without-having-a-credit-score","c":"Merchant Accounts, Processors and Gateways","s":["Merchant Accounts","Payment Processors"],"p":[],"d":"2011-10-01","x":"You may not qualify for a merchant account per se, due to lack of credit information, however, there are many 3rd party…"},{"t":"How can someone obtain a merchant account without a credit history?","u":"how-can-someone-obtain-a-merchant-account-without-a-credit-history","c":"Merchant Accounts, Processors and Gateways","s":["Merchant Accounts","Payment Processors"],"p":[],"d":"2011-10-01","x":"You may not qualify for a merchant account per se, due to lack of credit information, however, there are many 3rd party…"},{"t":"How can credit card debt be transferred or assigned to another person?","u":"how-can-credit-card-debt-be-transferred-or-assigned-to-another-person","c":"Lending, Credit Scores and BNPL","s":["Consumer Credit","Consumer Lending"],"p":[],"d":"2011-09-12","x":"The only way to take debt off your card, is to refinance it. Take another credit elsewhere (which is lower in…"},{"t":"What are the lowest-cost options for international bank or money transfers?","u":"what-are-the-lowest-cost-options-for-international-bank-or-money-transfers","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2011-09-12","x":"For small value payment, when they transit overseas, the cost of remitting funds becomes a significant portion of the…"},{"t":"What are some leading money transfer and e-commerce solutions used by international businesses?","u":"what-are-some-leading-money-transfer-and-e-commerce-solutions-used-by-international-businesses","c":"Sending and Receiving Money Abroad","s":["Money Transfer"],"p":[],"d":"2011-09-12","x":"Xoom - probably one of the fastest rising stars in the Money Transfer business (and adding more payment products for…"},{"t":"Would users be interested if Simple enabled low-cost global electronic payments in multiple currencies?","u":"would-users-be-interested-if-simple-enabled-low-cost-global-electronic-payments-in-multiple-currenci","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2011-09-12","x":"A lot of people would be interested in this, provided: BankSimple has a money transmitter license for all States (44 at…"},{"t":"Is it possible to transfer your credit card debt to another person?","u":"is-it-possible-to-transfer-your-credit-card-debt-to-another-person","c":"Lending, Credit Scores and BNPL","s":["Consumer Credit","Consumer Lending"],"p":[],"d":"2011-09-12","x":"The only way to take debt off your card, is to refinance it. Take another credit elsewhere (which is lower in…"},{"t":"What are top money transfer and e-commerce solutions for global businesses?","u":"what-are-top-money-transfer-and-e-commerce-solutions-for-global-businesses","c":"Sending and Receiving Money Abroad","s":["Money Transfer"],"p":[],"d":"2011-09-12","x":"Xoom - probably one of the fastest rising stars in the Money Transfer business (and adding more payment products for…"},{"t":"Would users value a service like BankSimple to pay nearly any global account with good rates and support?","u":"would-users-value-a-service-like-banksimple-to-pay-nearly-any-global-account-with-good-rates-and-sup","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2011-09-12","x":"A lot of people would be interested in this, provided: BankSimple has a money transmitter license for all States (44 at…"},{"t":"Could a sharing-economy startup like Getaround succeed in Pakistan?","u":"could-a-sharing-economy-startup-like-getaround-succeed-in-pakistan","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Insights","Business Models"],"p":["Asia","Emerging Markets"],"d":"2011-09-10","x":"Mostly No. Because the taxi cabs, rickshaws would do the job for you very well. Trust is a huge issue in such a model.…"},{"t":"Could a peer-to-peer car sharing model like Getaround succeed in Pakistan?","u":"could-a-peer-to-peer-car-sharing-model-like-getaround-succeed-in-pakistan","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Models","Business Insights"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-09-10","x":"Mostly No. Because the taxi cabs, rickshaws would do the job for you very well. Trust is a huge issue in such a model.…"},{"t":"How strong is the e-commerce growth potential in Bangladesh?","u":"how-strong-is-the-e-commerce-growth-potential-in-bangladesh","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments"],"p":["Bangladesh"],"d":"2011-09-08","x":"The potential for e-commerce exists in virtually every economy. However, when it comes to Bangladesh, it is a…"},{"t":"Can PayPal transfer funds from a U.S. account to a foreign bank account you open abroad?","u":"can-paypal-transfer-funds-from-a-us-account-to-a-foreign-bank-account-you-open-abroad","c":"Sending and Receiving Money Abroad","s":["PayPal","Money Transfer"],"p":["India","Restricted Jurisdictions"],"d":"2011-09-08","x":"As long as the country you operate in does impose a restriction via the central bank, you ought not to have any problem.…"},{"t":"Which banks provide free international wire transfer services?","u":"which-banks-provide-free-international-wire-transfer-services","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2011-09-08","x":"Almost none, since SWIFT fees has to be paid and in many cases, a fee charged by the correspondent bank (if not…"},{"t":"Which bank is best for receiving international wire transfers?","u":"which-bank-is-best-for-receiving-international-wire-transfers","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2011-09-08","x":"Chase, Bank of America, Citibank, HSBC, RBS, ABN-AMRO (La Salle Bank), Deutsche Bank, etc. are all good bets. Another…"},{"t":"Is Western Union legally classified as a bank, and how do they avoid that designation?","u":"is-western-union-legally-classified-as-a-bank-and-how-do-they-avoid-that-designation","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","Money Services Business License"],"p":[],"d":"2011-09-08","x":"Western Union is a Money Transfer Business (or Money Service Bureau). They have obtained licenses in almost every…"},{"t":"What details are stored on a hotel key card’s magnetic stripe?","u":"what-details-are-stored-on-a-hotel-key-cards-magnetic-stripe","c":"Cybersecurity, Digital Identity and Authentication","s":["Authentication","Data Security"],"p":[],"d":"2011-09-07","x":"Guest names / Card Numbers of Guest details are almost never included. Traditionally, those locks that are NOT centrally…"},{"t":"Which online marketplaces are good for selling recycled fashion designer pieces?","u":"which-online-marketplaces-are-good-for-selling-recycled-fashion-designer-pieces","c":"E-Commerce, Marketplace and Platform Payments","s":["Marketplace Payments"],"p":[],"d":"2011-09-07","x":"If the fashion designer is famous, Ebay would be your best bet. They gets 1000s of queries per day based on the…"},{"t":"How can I launch a curated online shop or resell different brands?","u":"how-can-i-launch-a-curated-online-shop-or-resell-different-brands","c":"E-Commerce, Marketplace and Platform Payments","s":["Cross-Border E-Commerce"],"p":[],"d":"2011-09-07","x":"Companies like Moleskine et. al. prefer to deal with distributors. You might want to check up if they have a distributor…"},{"t":"Which US city is the best base for an international e-commerce business?","u":"which-us-city-is-the-best-base-for-an-international-e-commerce-business","c":"Starting and Running a Fintech or Payments Business","s":["Operations"],"p":["China","Texas"],"d":"2011-09-07","x":"Your office could be anywhere. If you are going to be dealing with China a lot via communication (email, phone, fax), it…"},{"t":"Why hasn’t Nepal built a reliable online credit and debit card payment system yet?","u":"why-hasnt-nepal-built-a-reliable-online-credit-and-debit-card-payment-system-yet","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Gateways"],"p":["Asia","Emerging Markets"],"d":"2011-09-07","x":"First of all, it is great to see people from emerging countries tackling problems like these. To answer your question -…"},{"t":"Who offers ready-made loyalty program solutions?","u":"who-offers-ready-made-loyalty-program-solutions","c":"Payments (General)","s":["Payment Products"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-09-07","x":"You might want to give Taggo a go. Taggo is short of Tap-and-Go, however, I am not sure which geographic area you are…"},{"t":"What is the best fully online service for sending money from the UK to India?","u":"what-is-the-best-fully-online-service-for-sending-money-from-the-uk-to-india","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","India"],"d":"2011-09-07","x":"The most widely used/successful money transfer service to India (online) would be www.Remit2India.com (note the URL will…"},{"t":"What’s the best fully online service to send money from the UK to India?","u":"whats-the-best-fully-online-service-to-send-money-from-the-uk-to-india","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["Asia","India"],"d":"2011-09-07","x":"The most widely used/successful money transfer service to India (online) would be www.Remit2India.com (note the URL will…"},{"t":"What’s the outlook for e-commerce in the fast-moving consumer goods sector?","u":"whats-the-outlook-for-e-commerce-in-the-fast-moving-consumer-goods-sector","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments"],"p":[],"d":"2011-09-07","x":"FMCGs main sales area remains distributors/retail and will remain so for many years to come. I cannot think of a…"},{"t":"Which US banks support international transfers through online banking?","u":"which-us-banks-support-international-transfers-through-online-banking","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2011-09-05","x":"Bank of America (company) and Citibank both provide this. Yes, its offered to anywhere a Society for Worldwide Interbank…"},{"t":"What impact does New York’s money transmitter licensing have on companies without a physical presence there?","u":"what-impact-does-new-yorks-money-transmitter-licensing-have-on-companies-without-a-physical-presence","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","State-by-State MTL Requirements"],"p":["New York","Restricted Jurisdictions"],"d":"2011-09-05","x":"Many money transmitters are oblivious about the money transmitting licensing requirements. However, being ignorant about…"},{"t":"Should American entrepreneurs consider finding co-founders in India?","u":"should-american-entrepreneurs-consider-finding-co-founders-in-india","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-09-05","x":"You might want to check out TiE (The Indus Entrepreneurs) - http://www.tie.org/ . It provides a great way to network in…"},{"t":"Which U.S. banks let customers send international transfers via online banking?","u":"which-us-banks-let-customers-send-international-transfers-via-online-banking","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2011-09-05","x":"Bank of America (company) and Citibank both provide this. Yes, its offered to anywhere a Society for Worldwide Interbank…"},{"t":"What are some of the most impressive LEGO creations ever made?","u":"what-are-some-of-the-most-impressive-lego-creations-ever-made","c":"Payments (General)","s":["TIPS"],"p":[],"d":"2011-09-05","x":"Lego Imperial Destroyer More details and pics on this Lego build: http://kazza.id.au/10030/"},{"t":"How does New York’s licensing rule affect money transmitters without in-state offices?","u":"how-does-new-yorks-licensing-rule-affect-money-transmitters-without-in-state-offices","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Transmitter Licenses (MTL)","Money Services Business License"],"p":["New York"],"d":"2011-09-05","x":"Many money transmitters are oblivious about the money transmitting licensing requirements. However, being ignorant about…"},{"t":"How do small businesses track and manage their financial performance?","u":"how-do-small-businesses-track-and-manage-their-financial-performance","c":"General Finance Questions","s":["General Finance Questions","General"],"p":[],"d":"2011-09-04","x":"Small businesses are usually terrible at gauging their financial performance on the whole. Very few businesses have a…"},{"t":"How can businesses accept wire transfers reliably without losing money to fees?","u":"how-can-businesses-accept-wire-transfers-reliably-without-losing-money-to-fees","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Idaho","Maldives"],"d":"2011-09-04","x":"The fees you get hit by wiring all is dependent on three things: Amount being wired. If you are wiring a small amount,…"},{"t":"How do small businesses track and manage their finances effectively?","u":"how-do-small-businesses-track-and-manage-their-finances-effectively","c":"General Finance Questions","s":["General Finance Questions","General"],"p":[],"d":"2011-09-04","x":"Small businesses are usually terrible at gauging their financial performance on the whole. Very few businesses have a…"},{"t":"What’s the total number of small businesses in the U.S.?","u":"whats-the-total-number-of-small-businesses-in-the-us","c":"General Finance Questions","s":["General"],"p":["United States"],"d":"2011-09-04","x":"The US Census Bureau has an answer to that question in the form of payroll: http://www.census.gov/econ/small..."},{"t":"How can someone start a home-based baking business?","u":"how-can-someone-start-a-home-based-baking-business","c":"Freelancers, Side Hustles and Getting Paid Online","s":["Side Hustles"],"p":[],"d":"2011-09-04","x":"Two Quora (product) answers that I wrote, which will help you: How do I start an online business? How do I go about…"},{"t":"What key challenges do small independent Main Street retailers face?","u":"what-key-challenges-do-small-independent-main-street-retailers-face","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Insights","Business Lessons"],"p":[],"d":"2011-09-04","x":"Traffic. Your typical mom \u0026amp; pop store could be about anything, but if they are not seeing visitors, this means less…"},{"t":"What’s an easy web tool to handle appointment scheduling?","u":"whats-an-easy-web-tool-to-handle-appointment-scheduling","c":"General Finance Questions","s":["Productivity"],"p":[],"d":"2011-09-04","x":"Try the following: 30 Boxes ( http://www.30boxes.com/ ) HipCal ( http://www.hipcal.com/ )"},{"t":"How can businesses accept wire transfers securely and minimize fees?","u":"how-can-businesses-accept-wire-transfers-securely-and-minimize-fees","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":["Idaho","Maldives"],"d":"2011-09-04","x":"The fees you get hit by wiring all is dependent on three things: Amount being wired. If you are wiring a small amount,…"},{"t":"Can U.S. law firms legally provide services to Iranian private clients or companies?","u":"can-us-law-firms-legally-provide-services-to-iranian-private-clients-or-companies","c":"Sanctions, Embargoes and Screening","s":["Sanctions","OFAC Sanctions"],"p":["Iran","Middle East"],"d":"2011-09-01","x":"US Citizens, Businesses both are forbidden to conduct business with Iran and/or Iranian citizen. This is incumbent upon…"},{"t":"Which payment gateway is considered best for merchants in the Netherlands?","u":"which-payment-gateway-is-considered-best-for-merchants-in-the-netherlands","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["Developed Markets","EMEA"],"d":"2011-08-12","x":"You might want to look up Verotel ( www.verotel.com ). They are one of the oldest processors physically based out of…"},{"t":"In what ways could PayPal improve its product or services?","u":"in-what-ways-could-paypal-improve-its-product-or-services","c":"Consumer Protection, Customer Rights and Customer Service","s":["Customer Service Problems"],"p":[],"d":"2011-08-12","x":"Customer Service: By providing 1-800 number for customers to call and be able to get a person to speak to, to resolve…"},{"t":"What refund options exist for users who want to cancel virtual currency purchases after processing?","u":"what-refund-options-exist-for-users-who-want-to-cancel-virtual-currency-purchases-after-processing","c":"Consumer Protection, Customer Rights and Customer Service","s":["Refunds and Reversals","Consumer Protection"],"p":["United States Dollar"],"d":"2011-08-12","x":"If the ecosystem in which you have purchased the virtual currency, does not provide you with a mechanism for reverting…"},{"t":"Are users who spend virtual currency on one platform likely to spend on others as well?","u":"are-users-who-spend-virtual-currency-on-one-platform-likely-to-spend-on-others-as-well","c":"Payments (General)","s":["Payment Products"],"p":[],"d":"2011-08-12","x":"Yes, people do. But the caveat to the statement is that they are interacting with that platform long enough to justify…"},{"t":"Why has PayPal not launched services in Bangladesh?","u":"why-has-paypal-not-launched-services-in-bangladesh","c":"Licensing in Other Countries","s":["Licensing Comparison by Country"],"p":["Bangladesh","Emerging Market Licensing"],"d":"2011-08-09","x":"If I had to second guess, I would say the policies implemented by Bangladesh Bank (the Central bank of Bangladesh) are…"},{"t":"Can PayPal be used to move money from a US account to a foreign bank account?","u":"can-paypal-be-used-to-move-money-from-a-us-account-to-a-foreign-bank-account","c":"Sending and Receiving Money Abroad","s":["PayPal","Money Transfer"],"p":["India","Restricted Jurisdictions"],"d":"2011-08-09","x":"As long as the country you operate in does impose a restriction via the central bank, you ought not to have any problem.…"},{"t":"Are there any banks that offer free international wire transfers?","u":"are-there-any-banks-that-offer-free-international-wire-transfers","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2011-08-09","x":"Almost none, since SWIFT fees has to be paid and in many cases, a fee charged by the correspondent bank (if not…"},{"t":"Which banks are best for receiving international wire transfers?","u":"which-banks-are-best-for-receiving-international-wire-transfers","c":"International Wire Transfers and Large Transfers","s":["International Wire Transfers","SWIFT Transfers"],"p":[],"d":"2011-08-09","x":"Chase, Bank of America, Citibank, HSBC, RBS, ABN-AMRO (La Salle Bank), Deutsche Bank, etc. are all good bets. Another…"},{"t":"Is Western Union a bank, and if not, how does it avoid being classified as one?","u":"is-western-union-a-bank-and-if-not-how-does-it-avoid-being-classified-as-one","c":"Money Transfer Business and MTOs","s":["Western Union","Money Transfer Operators (MTO)"],"p":[],"d":"2011-08-09","x":"Western Union is a Money Transfer Business (or Money Service Bureau). They have obtained licenses in almost every…"},{"t":"How promising is the e-commerce market in Sri Lanka?","u":"how-promising-is-the-e-commerce-market-in-sri-lanka","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Marketplace Payments"],"p":["Sri Lanka"],"d":"2011-08-08","x":"Sri Lanka\u0026#39;s tourism industry can bode well with implementing e-commerce. So far, most tourist bookings, etc. are still…"},{"t":"What companies or products complement the mobile payments and NFC industry in Asia today?","u":"what-companies-or-products-complement-the-mobile-payments-and-nfc-industry-in-asia-today","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-08-07","x":"I am not sure if you have heard of Taggo - which uses NFC for businesses wishing to setup an almost instant loyalty…"},{"t":"Is escrow.com a trustworthy platform for secure transactions?","u":"is-escrowcom-a-trustworthy-platform-for-secure-transactions","c":"Fraud and Scams","s":["Fraud Risk Management","Fraud Prevention"],"p":[],"d":"2011-08-07","x":"Very legit website. As Mircea said - looks can be deceiving. Like almost everyone else, I have used the website in the…"},{"t":"Is SWREG.org a practical alternative to PayPal for online payments?","u":"is-swregorg-a-practical-alternative-to-paypal-for-online-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2011-08-07","x":"Short answer: No. SWREG is more focused to users who are in the domain of selling digital goods, and even in that, very…"},{"t":"Can a non-UK startup open a PayPal UK business account using a shared office address like TechHub?","u":"can-a-non-uk-startup-open-a-paypal-uk-business-account-using-a-shared-office-address-like-techhub","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["EMEA","Restricted Jurisdictions"],"d":"2011-08-07","x":"Yes, it can be done, the two areas where PayPal can get you at is if you are willingly by-passing or fooling their…"},{"t":"Which payment gateway works best for a Dubai-based small business selling worldwide?","u":"which-payment-gateway-works-best-for-a-dubai-based-small-business-selling-worldwide","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["EMEA","Gulf Cooperation Council"],"d":"2011-08-07","x":"Your best option is 2Checkout.com - They will easily handle this, provided what you sell/promote is not listed in their…"},{"t":"What’s involved in creating and running a payment bureau?","u":"whats-involved-in-creating-and-running-a-payment-bureau","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["UK Licensing","Payment Institutions (PI)"],"p":["EMEA","Europe"],"d":"2011-08-07","x":"Yes, to run a legal money/payment bureau in the UK requires you to be licensed. Since, you have not specifically…"},{"t":"Do international money transfer startups need both money transmitter licenses and MSB registration?","u":"do-international-money-transfer-startups-need-both-money-transmitter-licenses-and-msb-registration","c":"US Money Transmitter Licensing and MSB Registration","s":["US Licensing","Money Services Business (MSB)"],"p":[],"d":"2011-08-07","x":"Alternatively, you can become a reseller for a company that already has all the legal requirements fulfilled. If your…"},{"t":"What are the most common mistakes startups make when entering the international remittance market?","u":"what-are-the-most-common-mistakes-startups-make-when-entering-the-international-remittance-market","c":"Money Transfer Business and MTOs","s":["Starting a Remittance Business","Money Transfer Operators (MTO)"],"p":[],"d":"2011-08-07","x":"I am going to assume the \u0026#39;micro-transfer\u0026#39; is not a typo and that is what you are aiming for. In my (brief) payments…"},{"t":"Is there a true global alternative to PayPal for international payments?","u":"is-there-a-true-global-alternative-to-paypal-for-international-payments","c":"Sending and Receiving Money Abroad","s":["PayPal","Money Transfer"],"p":["Bangladesh","China"],"d":"2011-08-07","x":"Yes and No. Mostly No. One would believe no one comes even remotely close to the number of users (registered: 232…"},{"t":"For a new ecommerce startup, is it better to work directly with a bank or use a gateway like Authorize.net?","u":"for-a-new-ecommerce-startup-is-it-better-to-work-directly-with-a-bank-or-use-a-gateway-like-authoriz","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":[],"d":"2011-08-07","x":"Try working with Wells Fargo, or Bank of America, you will get much better rates, than Authorize.net for sure."},{"t":"How does Airizu manage payments within China?","u":"how-does-airizu-manage-payments-within-china","c":"E-Commerce, Marketplace and Platform Payments","s":["E-Commerce Payments","Platform Payments"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-08-06","x":"Airizu uses Tenpay ( www.tenpay.com ), Paypal ( www.paypal.com ) and online bank transfer."},{"t":"Does Xoom actually use official bank exchange rates for transfers?","u":"does-xoom-actually-use-official-bank-exchange-rates-for-transfers","c":"FX Rates, Spreads and Currency Markets","s":["Exchange Rates","Foreign Exchange (FX)"],"p":[],"d":"2011-08-06","x":"No. Xoom does not use the Interbank/official rate. They price themselves up to 2.0% lower than the official rate."},{"t":"What are the lowest-cost options for sending money internationally?","u":"what-are-the-lowest-cost-options-for-sending-money-internationally","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2011-08-06","x":"www.ikobo.com - better than Xoom, operates in almost all the countries. Easy, good support, slightly costly at loading,…"},{"t":"What is the best overall method to accept international online payments?","u":"what-is-the-best-overall-method-to-accept-international-online-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Africa","Asia"],"d":"2011-08-06","x":"Having practical experience with clients who are based in South Asia and Fast East, Africa, the best payment processor…"},{"t":"If someone wants to be an entrepreneur with no business background, what is the best way to start learning?","u":"if-someone-wants-to-be-an-entrepreneur-with-no-business-background-what-is-the-best-way-to-start-lea","c":"Business Strategy, Case Studies and Lessons Learned","s":["Startup Advice","Business Lessons"],"p":[],"d":"2011-08-04","x":"My college Professor (who was also my mentor) said - \u0026#34;there is nothing in the world you cannot learn, if you put your…"},{"t":"Are telecom companies exempt from money transmission regulations, and why?","u":"are-telecom-companies-exempt-from-money-transmission-regulations-and-why","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensable Activities","Licensing Exemptions"],"p":["India","Kuwait"],"d":"2011-08-03","x":"Short answer: They are usually not exempt and require a license. Most countries, including, US, UK, EU, India, Pakistan,…"},{"t":"What is the SWIFT code for The Bancorp Bank, issuer of Momentum Visa debit cards?","u":"what-is-the-swift-code-for-the-bancorp-bank-issuer-of-momentum-visa-debit-cards","c":"International Wire Transfers and Large Transfers","s":["SWIFT Transfers","BIC"],"p":[],"d":"2011-08-03","x":"The Momentum Visa Debit Cards cannot be loaded (as yet) via a Wire Transfer, hence the SWIFT code you are seeking would…"},{"t":"What safe online alternatives to Western Union exist for international bank transfers?","u":"what-safe-online-alternatives-to-western-union-exist-for-international-bank-transfers","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2011-07-11","x":"An online wire transfer from your bank is still the safest and most economical way of transferring money from one place…"},{"t":"What advice would you give to someone starting out as an entrepreneur who already knows their business idea?","u":"what-advice-would-you-give-to-someone-starting-out-as-an-entrepreneur-who-already-knows-their-busine","c":"Business Strategy, Case Studies and Lessons Learned","s":["Startup Advice","Business Lessons"],"p":[],"d":"2011-07-11","x":"So many thoughts and answers come to mind on a simple yet all-encompassing Question like this. We all will have our own…"},{"t":"What is the cheapest way to send money from the UK to Mauritius?","u":"what-is-the-cheapest-way-to-send-money-from-the-uk-to-mauritius","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":["British Pound Sterling","EMEA"],"d":"2011-07-10","x":"The cheapest method would be a Bank Wire Transfer. Bank Wire Transfers are based on a fixed price, and is converted at…"},{"t":"What are the basic steps to starting an online business?","u":"what-are-the-basic-steps-to-starting-an-online-business","c":"Starting and Running a Fintech or Payments Business","s":["Operations"],"p":[],"d":"2011-07-10","x":"Every time I sit in front of my computer, I am itching to start something new. An idea. Implement it. Sell it. I see the…"},{"t":"Why does Nepal still lack a mature online credit and debit card payment system?","u":"why-does-nepal-still-lack-a-mature-online-credit-and-debit-card-payment-system","c":"Merchant Accounts, Processors and Gateways","s":["Card Payments","Payment Gateways"],"p":["Asia","Emerging Markets"],"d":"2011-07-09","x":"First of all, it is great to see people from emerging countries tackling problems like these. To answer your question -…"},{"t":"What complementary companies or products already exist in Asia’s mobile payment and NFC ecosystem?","u":"what-complementary-companies-or-products-already-exist-in-asias-mobile-payment-and-nfc-ecosystem","c":"Payments (General)","s":["Payment Products","Payment Methods"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-07-08","x":"I am not sure if you have heard of Taggo - which uses NFC for businesses wishing to setup an almost instant loyalty…"},{"t":"Is escrow.com a legitimate and trustworthy service?","u":"is-escrowcom-a-legitimate-and-trustworthy-service","c":"Fraud and Scams","s":["Scam Awareness","Fraud Risk Management"],"p":[],"d":"2011-07-08","x":"Very legit website. As Mircea said - looks can be deceiving. Like almost everyone else, I have used the website in the…"},{"t":"Is SWREG.org truly a viable alternative to PayPal for online payments?","u":"is-swregorg-truly-a-viable-alternative-to-paypal-for-online-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":[],"d":"2011-07-08","x":"Short answer: No. SWREG is more focused to users who are in the domain of selling digital goods, and even in that, very…"},{"t":"Can a startup not registered in the UK open a PayPal UK business account using a coworking address?","u":"can-a-startup-not-registered-in-the-uk-open-a-paypal-uk-business-account-using-a-coworking-address","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Service Providers (PSP)"],"p":["Developed Markets","EMEA"],"d":"2011-07-08","x":"Yes, it can be done, the two areas where PayPal can get you at is if you are willingly by-passing or fooling their…"},{"t":"Which payment gateway is most suitable for a Dubai-based small business serving global customers?","u":"which-payment-gateway-is-most-suitable-for-a-dubai-based-small-business-serving-global-customers","c":"Merchant Accounts, Processors and Gateways","s":["Payment Gateways","Payment Processors"],"p":["EMEA","Gulf Cooperation Council"],"d":"2011-07-08","x":"Your best option is 2Checkout.com - They will easily handle this, provided what you sell/promote is not listed in their…"},{"t":"What are the requirements to set up a payment bureau?","u":"what-are-the-requirements-to-set-up-a-payment-bureau","c":"UK and EU Licensing, EMIs and Payment Institutions","s":["UK Licensing","Payment Institutions (PI)"],"p":["Developed Markets","EMEA"],"d":"2011-07-08","x":"Yes, to run a legal money/payment bureau in the UK requires you to be licensed. Since, you have not specifically…"},{"t":"Do you need both money transmitter and MSB licenses to start an international money transfer business?","u":"do-you-need-both-money-transmitter-and-msb-licenses-to-start-an-international-money-transfer-busines","c":"US Money Transmitter Licensing and MSB Registration","s":["Money Services Business (MSB)","US Licensing"],"p":[],"d":"2011-07-08","x":"Alternatively, you can become a reseller for a company that already has all the legal requirements fulfilled. If your…"},{"t":"What mistakes should startups avoid when entering the international money transfer market?","u":"what-mistakes-should-startups-avoid-when-entering-the-international-money-transfer-market","c":"Money Transfer Business and MTOs","s":["Starting a Remittance Business","Money Transfer Operators (MTO)"],"p":[],"d":"2011-07-08","x":"I am going to assume the \u0026#39;micro-transfer\u0026#39; is not a typo and that is what you are aiming for. In my (brief) payments…"},{"t":"What are the best global alternatives to PayPal for payments?","u":"what-are-the-best-global-alternatives-to-paypal-for-payments","c":"Digital Wallets, Mobile Money and P2P Payments","s":["Digital Wallets"],"p":["Bangladesh","China"],"d":"2011-07-08","x":"Yes and No. Mostly No. One would believe no one comes even remotely close to the number of users (registered: 232…"},{"t":"For a new e-commerce startup, is it smarter to work directly with a bank or use a gateway like Authorize.net?","u":"for-a-new-e-commerce-startup-is-it-smarter-to-work-directly-with-a-bank-or-use-a-gateway-like-author","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":[],"d":"2011-07-08","x":"Try working with Wells Fargo, or Bank of America, you will get much better rates, than Authorize.net for sure."},{"t":"How hard is it for a new graduate to secure angel or VC funding for a consumer internet startup in Dubai?","u":"how-hard-is-it-for-a-new-graduate-to-secure-angel-or-vc-funding-for-a-consumer-internet-startup-in-d","c":"Starting and Running a Fintech or Payments Business","s":["Venture Capital","Fundraising Strategy"],"p":["EMEA","MENA (Middle East and North Africa)"],"d":"2011-07-08","x":"Your best bet is to get in touch with the Gulf Venture Capital Association ( www.gulfvca.org ). A complete members…"},{"t":"Is digital marketing to Hispanic audiences shaping up to be the next big opportunity?","u":"is-digital-marketing-to-hispanic-audiences-shaping-up-to-be-the-next-big-opportunity","c":"Business Strategy, Case Studies and Lessons Learned","s":["Business Insights","Industry Insights"],"p":[],"d":"2011-07-07","x":"Its not the the Hispanic or any other ethnicity has been left out, or \u0026#39;suddenly\u0026#39; increased in size that simply cannot be…"},{"t":"Which affiliate networks should startups consider joining?","u":"which-affiliate-networks-should-startups-consider-joining","c":"General Finance Questions","s":["Company Comparisons"],"p":[],"d":"2011-07-07","x":"There are literally 1000s of them. What care you need to exercise is to separate the good ones from the ones that are…"},{"t":"What free online marketing tools do small businesses find most effective?","u":"what-free-online-marketing-tools-do-small-businesses-find-most-effective","c":"Learning and Certifications: Guides, Calculators, Quizzes and Courses","s":["Learning Resources","Training"],"p":[],"d":"2011-07-07","x":"Check out the 30Day Challenge (google for it or YouTube it) it is an excellent hand-held 30-day video tutorial to help…"},{"t":"Are customers more likely to buy a plugin with a monthly subscription or a one-time higher price?","u":"are-customers-more-likely-to-buy-a-plugin-with-a-monthly-subscription-or-a-one-time-higher-price","c":"E-Commerce, Marketplace and Platform Payments","s":["Subscription Billing","Recurring Payments"],"p":[],"d":"2011-06-08","x":"As a heavy personal/business user of WordPress I would more often instantly purchase an outright license for a Plug-in…"},{"t":"How does Airizu process payments for its platform in China?","u":"how-does-airizu-process-payments-for-its-platform-in-china","c":"E-Commerce, Marketplace and Platform Payments","s":["Platform Payments","E-Commerce Payments"],"p":["Asia","Asia-Pacific (APAC)"],"d":"2011-06-08","x":"Airizu uses Tenpay ( www.tenpay.com ), Paypal ( www.paypal.com ) and online bank transfer."},{"t":"Does Xoom use the official exchange rate for international transfers?","u":"does-xoom-use-the-official-exchange-rate-for-international-transfers","c":"FX Rates, Spreads and Currency Markets","s":["Exchange Rates","Currency Exchange"],"p":[],"d":"2011-06-08","x":"No. Xoom does not use the Interbank/official rate. They price themselves up to 2.0% lower than the official rate."},{"t":"What’s the most affordable way to transfer money internationally between banks?","u":"whats-the-most-affordable-way-to-transfer-money-internationally-between-banks","c":"Sending and Receiving Money Abroad","s":["Money Transfer","Sending Money Abroad (Consumer)"],"p":[],"d":"2011-06-08","x":"www.ikobo.com - better than Xoom, operates in almost all the countries. Easy, good support, slightly costly at loading,…"},{"t":"What’s the most effective method to accept international online payments?","u":"whats-the-most-effective-method-to-accept-international-online-payments","c":"Merchant Accounts, Processors and Gateways","s":["Payment Processors","Payment Gateways"],"p":["Africa","Asia"],"d":"2011-06-08","x":"Having practical experience with clients who are based in South Asia and Fast East, Africa, the best payment processor…"},{"t":"What’s the story of Kevin Mitnick’s hacking and cybersecurity career?","u":"whats-the-story-of-kevin-mitnicks-hacking-and-cybersecurity-career","c":"Cybersecurity, Digital Identity and Authentication","s":["Hacking","Cybersecurity"],"p":[],"d":"2011-04-08","x":"To further understand Kevin Mitnick, it would help if you read the The Cyberthief and the Samurai by Jeff Goodell, it\u0026#39;s…"},{"t":"How can aspiring entrepreneurs with no business background prepare — through courses or finding experienced partners?","u":"how-can-aspiring-entrepreneurs-with-no-business-background-prepare-through-courses-or-finding-experi","c":"Starting and Running a Fintech or Payments Business","s":["Entrepreneurship in Finance"],"p":[],"d":"2011-04-08","x":"My college Professor (who was also my mentor) said - \u0026#34;there is nothing in the world you cannot learn, if you put your…"},{"t":"What should you do if you want to leave your 9-to-5 but lack a business idea you’re excited about?","u":"what-should-you-do-if-you-want-to-leave-your-9-to-5-but-lack-a-business-idea-youre-excited-about","c":"Careers, Jobs and Working in Finance","s":["Employment","Jobs"],"p":[],"d":"2011-04-08","x":"Finding what you are passionate about sometimes can be the hardest answer to get. We all have more than one passion,…"},{"t":"What’s the most constructive way to tell a startup its idea isn’t strong?","u":"whats-the-most-constructive-way-to-tell-a-startup-its-idea-isnt-strong","c":"Starting and Running a Fintech or Payments Business","s":["Venture Capital"],"p":[],"d":"2011-03-08","x":"Best bet is a consensus vote amongst people who are common to you. Without disclosing your friends/colleagues, ask your…"},{"t":"Do telecom companies have exemptions from money transmission regulations, and why?","u":"do-telecom-companies-have-exemptions-from-money-transmission-regulations-and-why","c":"Licensing Strategy, Sponsorship and Agent Models","s":["Licensable Activities","Licensing Exemptions"],"p":["India","Kuwait"],"d":"2011-03-08","x":"Short answer: They are usually not exempt and require a license. Most countries, including, US, UK, EU, India, Pakistan,…"},{"t":"What’s the SWIFT code for The Bankcorp Corporation (issuer of Momentum Visa debit cards)?","u":"whats-the-swift-code-for-the-bankcorp-corporation-issuer-of-momentum-visa-debit-cards","c":"International Wire Transfers and Large Transfers","s":["SWIFT Transfers","BIC"],"p":[],"d":"2011-03-08","x":"The Momentum Visa Debit Cards cannot be loaded (as yet) via a Wire Transfer, hence the SWIFT code you are seeking would…"}]