PreCash Inc. announced Wednesday that it is offering agent services agreements to Money Services Businesses that will help them comply with state and federal regulations. For these businesses, complying with the myriad of regulations that they face can be difficult.
PreCash is MSB licensed in 48 states and has been selling and loading prepaid cards, offering prepaid wireless refills and providing walk-in bill payments as an MSB for nearly fifteen years. The company makes significant investments to rigorously maintain its licensing, develop transaction risk and fraud management systems and staff a dedicated team of experts focused solely on compliance and risk. Offering MSB agency is a natural extension of the company’s assets.
As companies look to diversify their service areas across more than one state, or look to add new products to take advantage of the trend of payments being handled electronically, a product like this may help them be competitive by simplifying their compliance work.
