Virtual Terminal Technology For B2B Payments

ACH Processing for Start Ups. We regularly field inquiries from start-ups as well as established businesses that believe they have an app that can become the next Venmo. Venmo allows person to person or P2P payments. The startup wants to replicate the easy moving of money using an ACH Processing Solution. Many times we listen to the idea and say that is a great idea.
Why? - It has to with being classified as a Money Transmitter or Money Service Business. This type of business classification means governmental organization scrutiny and of course tremendous expense as well as time. We are talking potential years of time and millions of dollars. Most of these requirements center around money laundering (Info at FINCEN and FINRA ).

https://kemwienerwald.org/seven-brilliant-ways-to-advertise-ach-processing-and-startups/