Payments General

Obopay rolls out Licensed Payment Services for Partners in US

Friday 4 May 2012 | 08:56 AM CET

US-based provider of mobile and instant payment services Obopay has made available the Obopay Licensed Payment Services for Partners, a new offering that enables partners to leverage Obopay's money transfer licenses throughout the US.

With Obopay Licensed Payment Services for Partners, Obopay extends agency agreements to its partners and ensures compliance with applicable state and federal regulations. Partners can also employ Obopay's connections to a range of payment networks, as well as its risk management, compliance and settlement capabilities that enable companies to deliver services under their own brands.

Money transfer licenses are regulated at the state level, and are required in the US for companies that are not financial institutions themselves yet seek to move money between people or hold value on their behalf. Money transfer licenses also allow companies to process interbank payments across banks and payment networks.

Partners can employ Obopay's Licensed Payment Services for Partners as a standalone offering, or can also leverage Obopay's other other offerings that are based on its licensing and its connections to payment networks including Obopay Disbursements and Obopay's Mobile Money for Banks.

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