MACHNET

All in one banking, compliance, payment and payout infrastructure - reimagined and built for cross border businesses

[MACHNET @machpay]

Our easy-to-use white-label money transfer platform allows your customers to send money anywhere in the world, using their preferred payment method.

Give your customers the power to send money with confidence. Get in touch with us to learn more. https://t.co/cldSNX5l3e

[MACHNET @machpay]

Fintech apps have seamlessly woven themselves into our everyday routines. Yet, the process of building one is far more interesting and complicated than meets the eye.
Here's an enlightening post, unraveling the layers involved in crafting a fintech app:https://t.co/AdplvDwlwb

[Young Entrepreneur Council @YEC]

What To Look For (And Avoid) With An E-Wallet Feature https://t.co/aPgM4xO3r1 Written by @jaydahal of @machpay

[Young Entrepreneur Council @YEC]

What To Look For (And Avoid) With An E-Wallet Feature https://t.co/QfmwETpdjK Written by @jaydahal of @machpay

[MACHNET @machpay]

There are three ways to start your remittance business: build from scratch,be an agent,or partner with a RaaS provider. Hands down,RaaS is the FASTEST and most COST-EFFECTIVE approach.Forget the long road and embrace RaaS! Get in touch with us to learn more. #Fintech #Machnet

[MACHNET @machpay]

Financial services is the new frontier for big tech, which speaks something of the importance of building payment capabilities to drive success in today's business world.

credit: https://t.co/VmLued48Ll

#bigtech #payments #financialservices #paytech

[MACHNET @machpay]

Elon Musk wants to build an 'the everything app' - one that includes, messaging, social networking and PAYMENTS.
-Meta launched MetaPay
-Apple has ApplePay, Apple Pay Later
-Google has Google Pay

[MACHNET @machpay]

Regardless of how banks see these platforms, the positive experiences of consumers and the continuous market growth indicate the rising significance of BaaS and PaaS

Interesting read : https://t.co/AAmaDL9GJy

#BaaS #PaaS #Fintech #Paytech #finextra

[MACHNET @machpay]

Payment services such as Banking-as-a-Service (BaaS) and Platform-as-a-Service have emerged as major trends in the paytech industry and are predicted to become mainstream by 2024. It's interesting how banks approach them.

[MACHNET @machpay]

On the other hand, larger banks see it as a way to keep up with fintech competitors and future-proof themselves. They recognize the importance of leveraging BaaS and PaaS to stay relevant in the rapidly evolving financial landscape.

[Jay @JayDahal]

Every second $1,522 is wasted on unnecessary 'transaction fees' just to send money to another country. That's..

✈️ A roundtrip ticket to Southeast Asia
📱 A brand new iphone 14 Pro
👶 That's a month's worth of childcare plus some
🛏️ That's one month's rent in some states

[Jay @JayDahal]

If you send money overseas constantly, here are a few #remittance hacks you should know to avoid those exorbitant fees: 👇 #Crossborderpayments #moneytransfer
1. Careful using a card! Your card comes with many extra charges you won’t even see ’til you get your bill.

[MACHNET @machpay]

Thinking of starting a money transfer business? Or know someone who is?

Schedule a call with us to explore how we can help you kickstart it. 🤙

#Machnet #moneytransfer #remittance #USremittance #makewithmachnet

[Jay @JayDahal]

“AI” has been a Silicon Valley buzzword and if we dig deeper, we’ll see a lot of hype in GenAI or “Generative AI” To define it in plain English, it’s a type of AI that focuses on creating new content, such as images, video, music, or text etc based on the data it’s consumed.

[MACHNET @machpay]

🌍 Select your territory - where you wish to originate and settle the transaction. Make sure you adhere to the regulatory framework of both sides. Plan your sales and marketing efforts accordingly.
Read to learn more: https://t.co/MZwXT8vrZo

[MACHNET @machpay]

Here are some things to consider before you start a remittance business:

📊Understand the industry, target market, differentiate yourself from competitors. Familiarize yourself with remittance terminology and concepts like KYC, MTO, correspondent banks.

[MACHNET @machpay]

💲Secure funds of at least $100,000-$150,000. Allocate funds for compliance, SaaS fees, and marketing. Consider raising funds if needed.

[MACHNET @machpay]

💲 Getting licensed in all 50+ States may cost you around

$1 million (not including legal fees).

Read:
https://t.co/hBXs4vhMuU

[MACHNET @machpay]

Let's demystify Money Transmitter Licenses (MTL):

📜 Money Transmitter Licenses (MTL) are required for companies that are engaged in money transfers - whether domestic or international. They are granted by state regulatory agencies in the United States.

[MACHNET @machpay]

��� Requirements for MTL license vary state by state. The application processing time may take from a few months to 3 years, depending on the state. States such as New York, California, and Texas cost and take much longer.