Faisal KhanAnswered Feb 12, 2016Can't tell you about their legal structure, but as they are a PSP in California, they are then exempt from MSB licensing requirements (in CA).
The real receiver of funds is their FBO account with their acquiring bank. They are classified as a PF (Payments Facilitator) with the Card Schemes.
Their issuing bank underwrites their merchants on their behalf.
The real receiver of funds is their FBO account with their acquiring bank. They are classified as a PF (Payments Facilitator) with the Card Schemes.
Their issuing bank underwrites their merchants on their behalf.