Obopay launches Licensed Payment Services for Partners

Money transfer licenses and compliance expertise

Through the new offering partners can leverage Obopay’s money transfer licenses and compliance expertise to facilitate bringing their own payment solutions to market (view press release). The service extends agency agreements to partners and ensures compliance with state regulations. Partners can also leverage Obopay’s connections to a range of payment networks and gain access to risk management, compliance and settlement capabilities.

The payments market is quite complex and requires expertise in compliance and working with state and federal regulators to ensure proper licensing, oversight and controls,” said Chris Martin, EVP of operations and chief compliance officer at Obopay. “To obtain money transfer licences and maintain them in good standing takes a large investment in time, money and specialised people. By working with Obopay, our partners significantly reduce their time to market and are assured of meeting all applicable regulatory requirements.”

Related reading

A hand holding a smartphone with $ icons on the screen, which is visually connected to a network of little people around it

Leave a comment