What is Hammer Global Payments licensed to do
Hammerpay Global Payments Inc. is a licensed Money Services Business (MSB) registered with the Financial Crimes Enforcement Network (“FinCen”) in the USA and is authorized to provide the following services:
Money Transmission Services –
- Facilitate domestic and international money transfers.
- Operate digital wallets and peer-to-peer (P2P) payment systems.
- Act as an intermediary between consumers and financial institutions.
Issuance and Sale of Prepaid Cards –
- Sell and reload prepaid debit cards, stored-value cards, and gift cards.
- Manage white-label prepaid card programs for businesses.
- Issue closed-loop and open-loop prepaid cards.
Cryptocurrency Transactions –
- Exchange fiat currency for cryptocurrency (e.g., Bitcoin, Ethereum).
- Provide crypto wallet and custody services.
- Operate crypto-to-fiat and crypto-to-crypto trading platforms.
- Serve as an intermediary for remittances using blockchain technology.
Foreign Exchange (Forex) Services –
- Offer currency exchange services (e.g., exchanging USD for EUR).
- Provide cross-border payment solutions for businesses and individuals.
Bill Payment & Utility Payments –
13. Facilitate bill payments for utilities, telecommunications, and insurance.
14. Enable recurring payments for subscriptions and installment plans.
Agent Banking & Financial Inclusion –
15. Work with banks and credit unions to expand financial services.
16. Offer banking-as-a-service (BaaS) solutions.
Regulatory & Compliance Requirements –
17. Adherence to Consumer Protection Laws.
18. Registration with FinCEN (in the U.S.) and compliance with AML/KYC laws.
19. State-level licensing for money transmission (varies by state).
20. Compliance with OFAC sanctions screening.
Suspicious Activity Reporting (SAR) and Currency Transaction Reporting (CTR).