Man. Screw those money-transmitter laws. I know why they exist, but damn they stifle innovation like nothing else.
I was looking to get into this kind of business (think mint, but built into a digital wallet that worked kind-of-like-paypal-but-not-really), and got stuck there. I think when everything was said and done, it would have been less expensive to create an actual bank.
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[ 2.7 ms ] story [ 14.6 ms ] threadI was looking to get into this kind of business (think mint, but built into a digital wallet that worked kind-of-like-paypal-but-not-really), and got stuck there. I think when everything was said and done, it would have been less expensive to create an actual bank.