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?

Asked Jun 6, 2020· 1 answer ·Africa, Anglophone Africa, Ghana, Global South, Sub-Saharan Africa
Faisal KhanAnswered Jun 6, 2020

This makes you an intermediary, when you cited on behalf of a person, implies you are neither the owner of the transaction, nor the recipient and hence this makes you an intermediary, and where ever you go, in most countries this would classify you as a money transfer business and thus require you to get licensed.

Money Transmitter Licenses (MTL)Money Services Business LicenseMoney Services Business (MSB)US Licensing AfricaAnglophone AfricaGhanaGlobal SouthSub-Saharan Africa
Related in US Money Transmitter Licensing and MSB Registration
What 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 ansCan we work under a Trust’s Money Transmitter License?1 ans