Podcast: What Should Payment Facilitators Know About Money Transmitters?

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In this week’s podcast, we talk to attorney Theo Monroe about money service businesses, also known as money transmitters. He says that payment businesses can sometimes engage in activities that qualify as money transmission activities under federal or state law – possibly without realizing it.

Federal and state authorities view money transmitters differently, which means that payment facilitators must understand and navigate varying regulations to make sure they are operating within the law, he says.

In this podcast, Monroe provides an overview of what money transmitters are, how they are viewed by different authorities, and some of the issues payment facilitators may want to discuss with their own legal counsel.

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