If we build a ticketing platform like Eventbrite that rewards users for sharing sales, do we need an MSB license?

Asked Jul 9, 2015· 1 answer
Faisal KhanAnswered Jul 9, 2015
As long as you are not holding on to the payments in your accounts, you would not be classified as an MSB. You should not be touching the money at any part of this process chain, except for the BSA regulated FI, to push your commission (intermediary charge) out to your bank account. Your processing has to be straight-through.

If you touch the money at any point in time, you'd be a money transmitter.
Money Services Business (MSB)Money Services Business LicenseMSB Registration (US)Money Transmitter Licenses (MTL)
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