What could be a strong USP for a new US-to-India online money transfer service?

Asked Oct 9, 2012· 1 answer ·Asia, India, Indian Subcontinent, South Asia, United States
Faisal KhanAnswered Oct 9, 2012
Couple of areas you can look into:

  • Lesser time frame to transfer to money
  • Ability to do a direct deposit into the account
  • Exchange parity is low
  • Ability to validate the Sender (Remitter) via Small Value Deposit
  • Ability to validate the transaction via a PIN Code sent to Remitter's mobile phone (which is the verified and tied to his/her SSN).
  • End-to-End tracking
  • Remove Credit/Debit card transactions (too much fraud to handle) - if you are going to allow Credit/Debit cards, make sure the transaction is non-reversible (there is a secret sauce methodology of doing that)
Starting a Remittance BusinessDigital MTOsMoney Transfer Operators (MTO)Remittance Aggregators AsiaIndiaIndian SubcontinentSouth AsiaUnited States
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