Faisal KhanAnswered Jan 1, 2014Yes. For Store-valued cards, you have to be licensed in order to do so. That's a MSB license that is required.
Are U.S. financial institutions restricted to issuing only stored-value cards?
Faisal KhanAnswered Jan 1, 2014Why aren’t transit cards accepted for general-purpose payments?1 ansWhat type of license is required if acting as an intermediary in an FX transaction between two parties?1 ansDo we need to be licensed in any capacity, such as a money transmitter?1 ansIs a money transmitter license required for the operation of closed-loop cards in the United States?1 ans