Stay ahead of compliance trends, regulatory updates, and industry best practices curated for modern fintechs.
Fintechs transmitting money in Oklahoma must obtain a money transmitter license from the Oklahoma State Banking Department. This guide covers who needs a license, key requirements, the NMLS application process, and ongoing compliance obligations.
Fintechs transmitting money in Mississippi must obtain a money transmitter license from the Mississippi Department of Banking and Consumer Finance. This guide covers who needs a license, key requirements, the application process, and ongoing compliance obligations.
Alabama requires a Money Transmitter license from the State Banking Department for fintechs transmitting money in the state. This guide covers the regulatory requirements, NMLS application process, and ongoing compliance obligations under the Alabama Monetary Transmission Act.
Louisiana requires a Money Transmission license from the Office of Financial Institutions for fintechs transmitting money in the state. This guide covers the regulatory requirements, NMLS application process, and ongoing compliance obligations under the Louisiana Money Transmission Act.
Kentucky requires a Money Transmitter license from the Department of Financial Institutions for fintechs transmitting money in the state. This guide covers the regulatory requirements, NMLS application process, and ongoing compliance obligations under Kentucky's Money Transmitter Act.
Wisconsin requires a Money Transmitter license from the Department of Financial Institutions for fintechs transmitting money in the state. This guide covers the regulatory requirements, NMLS application process, and ongoing compliance obligations under the Wisconsin Uniform Money Transmitter Law.
South Carolina requires a Money Services license from the Department of Consumer Affairs for fintechs transmitting money in the state. This guide covers the regulatory requirements, NMLS application process, and ongoing compliance obligations under the South Carolina Money Services Act.
Indiana requires a Money Transmission License from the Department of Financial Institutions for fintechs transmitting money in the state. This guide covers the regulatory requirements, NMLS application process, and ongoing compliance obligations under Indiana's Money Transmission Statute.
A Payment Facilitator (PayFac) is a company that enables sub-merchants to accept card payments under its own merchant account. For fintechs building embedded payments, understanding the PayFac model — and the licensing and compliance obligations that come with it — is essential.