Faisal Khan
Answers by

Faisal Khan

Cross-border payments, banking access, licensing. Thirty-one years inside regulated money movement.

Founder, Faisal Khan LLC·Istanbul, working globally
3,061Questions answered
31+Years in payments
400+Companies served
72+Countries
About

Every answer on askmint is mine. I have spent more than thirty-one years in financial services, almost all of it on one problem: how money legally crosses a border, and what a regulator needs to see before it will.

My career began in technology, not banking. I moved into banking and payments, and then into cross-border payments. That is where I saw how badly companies get caught by the rules across many countries. Not because the rules are impossible, but because the wrong structure was chosen before anyone understood the flow of funds.

Since starting the consultancy in 2010, I have worked with more than four hundred companies across seventy-two countries, from early-stage startups to established financial institutions. The work is helping them obtain licences, secure banking relationships, and build compliance frameworks that hold up under examination.

Today it is mostly licensing strategy, MSB banking access and cross-border payment structures, alongside writing, speaking and the educational sites that sit around the practice. This site is one of them.

Every call I take, I take myself. Twelve thousand of them so far.

Where I work

Licensing and compliance

Money transmitter licences, payment institution registration and compliance programmes across many countries. More than fifty licence applications done.

Banking relationships

Getting and keeping bank accounts for high-risk and regulated businesses. The part most operators underestimate.

Cross-border payments

Payment corridors, settlement design, FX risk and the licensing that sits underneath international money movement.

What I am not
  • A bank, money transmitter or money services business
  • A law firm. Nothing here is legal advice
  • In the flow of funds. I never hold client money

Answers

3,061 answers · newest first
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Mar 1, 2016 Emerging Markets and Financial Inclusion Should poorer countries have independent central banks? Mar 1, 2016 Central Banks and Bank Supervision Which country is best for launching a small e-wallet business? Feb 12, 2016 Licensing Strategy, Sponsorship and Agent Models Why don’t PayPal or Skrill use SMS-based login verification—are there technical or regulatory obstacles? Feb 12, 2016 Cybersecurity, Digital Identity and Authentication Which alternative payment providers are best for online payments in South America? Feb 12, 2016 Merchant Accounts, Processors and Gateways How has M-PESA evolved since it was first launched? Feb 12, 2016 Digital Wallets, Mobile Money and P2P Payments What is Stripe’s legal structure as a company? Feb 12, 2016 Law, Contracts, Terms of Service and Legal Structures Is messaging a key driver of mobile payments, and why? Feb 12, 2016 Digital Wallets, Mobile Money and P2P Payments Would a Bitcoin ATM operator business be viable in Pakistan? Feb 11, 2016 Crypto Payments, On-Ramps and Off-Ramps What does “Bitcoin tipping” mean? Feb 11, 2016 Crypto Payments, On-Ramps and Off-Ramps What influence do banks have over the creation of new ACH-style networks by startups and large corporations? Feb 11, 2016 Domestic Payment Rails, National Switches and Clearing Systems In simple terms, how is the value of a currency determined? Feb 9, 2016 Economics, Inflation and Monetary Policy Why is Pakistan not subject to US OFAC sanctions? Feb 9, 2016 Sanctions, Embargoes and Screening How do banks verify checks that are deposited using a smartphone camera? Feb 9, 2016 Domestic Payment Rails, National Switches and Clearing Systems What is the best approach to replicating ZenPayroll or Gusto in a European country like Spain? Feb 8, 2016 Starting and Running a Fintech or Payments Business How strong is the economic impact of microfinance in developing economies? 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Feb 3, 2016 History of Money, Banking and Finance How is the world’s total illicit income laundered in aggregate? Feb 3, 2016 Money Laundering and Financial Crime Why can’t payment gateways operate in every country? Feb 3, 2016 Merchant Accounts, Processors and Gateways How many retail banks are there in the U.S. (excluding branches)? Feb 3, 2016 How Banks Work Which consulting firms specialize in helping companies obtain U.S. money transmitter and MSB licenses? Feb 3, 2016 US Money Transmitter Licensing and MSB Registration Do payment gateways permit money-transmission businesses to operate on their platforms? Feb 2, 2016 Merchant Accounts, Processors and Gateways How exactly do Western Union and other instant money transfer services operate? Feb 2, 2016 Money Transfer Business and MTOs What basic banking or finance certifications are recommended for IT professionals? Feb 1, 2016 Learning and Certifications: Guides, Calculators, Quizzes and Courses In a core banking system, what does “multi-bank capability” mean? Feb 1, 2016 Banking and Payments Technology Stack What is the difference between a governing body and a regulatory body? Feb 1, 2016 Regulators, Enforcement and Regulatory Change In simple terms, what is a payment and settlement system? Feb 1, 2016 Payments (General) Why does U.S. banking appear relatively outdated compared with other countries? Feb 1, 2016 Domestic Payment Rails, National Switches and Clearing Systems How frequent is fraud in mobile check deposit systems? Feb 1, 2016 Fraud and Scams What information do banks capture in real time during a transaction? Feb 1, 2016 AML Programs, KYC and Compliance Operations Can I use Western Union to send money into my Payoneer account? Jan 12, 2016 Sending and Receiving Money Abroad How do I begin day trading? Jan 12, 2016 Capital Markets: Stocks, Bonds and Derivatives