Everything you need to know about RemitJunction
We’ve compiled answers to some of the most common questions to help you better understand how our platform works and what it offers.
General Questions
What is a white-label remittance platform?
A white-label remittance platform allows businesses to offer cross-border payment services under their brand while leveraging our secure and compliant technology.
How long does it take to set up the platform?
Our solution is designed for rapid deployment. Depending on your requirements, your platform could go live within 72 hours or take a few weeks.
What is RemitJunction?
RemitJunction is a digital-only Remittance-as-a-Service (RaaS) platform that provides end-to-end infrastructure for remittance service providers. We offer seamless integration, enabling businesses to start their own remittance services with white-label solutions.
Platform and Services
How does RemitJunction work?
RemitJunction provides the technology and infrastructure for remittance service providers to manage their own remittance operations. We handle the payment processing, compliance requirements, and other necessary services while you focus on customer engagement and growing your business.
Can I customize the platform to fit my brand?
Absolutely. Our platform is fully customizable, allowing you to deliver a seamless, branded experience to your customers.
Can I integrate RemitJunction’s services with my existing platform?
Yes. RemitJunction offers easy integration options with your existing systems. Our API-driven infrastructure ensures seamless connectivity and supports your current business model, whether you’re a new entrant or an established player in the remittance space.
How can I track my transactions?
With our real-time tracking feature, you and your customers can monitor the status of every transaction instantly.
Compliance and Security
Is Remit Junction compliant with global regulations?
Yes. We prioritize compliance with international standards, including AML and KYC protocols, to ensure secure and legal transactions.
Who is responsible for anti-money laundering? Know your customer? Compliance?
RemitJunction takes full responsibility as the solution provider and this is one of the advantages of this service. you are not legally accountable for issues related to AML, KYC, or other compliance requirements. However, if you operate as a licensed entity, you remain responsible for ensuring regulatory compliance.
Who is in charge of authorizing transactions?
Transactions are authorized by the relevant parties involved, such as the Sender, banking institutions, processing partners, and payout beneficiaries. As a non-licensed entity, you are not directly involved in the authorization or flow of funds.The purpose of our white-label service is to ensure that the licensed entities in the transaction process handle the authorization and flow of funds. You are not responsible for this process. This arrangement allows you to offer remittance services under your own brand while ensuring that the licensed parties manage compliance and regulatory requirements.
Payment and Currency
What types of businesses benefit from Remit Junction?
Our solution is ideal for fintech startups, NGOs, religious institutions, and enterprises needing scalable and secure cross-border payment systems.
What currencies can I send with RemitJunction?
While we process transactions in GBP, we support various currencies through the payout partners you choose. We work with licensed partners who provide competitive exchange rates based on your business needs.
Can we originate from other countries and terminate money transfer transactions into the United Kingdom?
Yes. We are continuously expanding our services to multiple countries.
What sort of payment processing options are available?
Currently, RemitJunction offers card processing as the primary payment method. For debit card processing, you must meet the qualification criteria that the underlying merchant processor sets.This setup ensures a secure and reliable transaction process.
Pricing and Rates
What are the fees for using RemitJunction’s services?
RemitJunction offers a competitive and transparent fee structure. You can apply your own markup to meet market expectations and ensure profitability, with no hidden fees or surprises.
How will I compete with others in the market?
At RemitJunction, we are fully aware of competitive market rates, and we ensure that the rates we offer, allow you to remain competitive. You have the flexibility to apply your own markup, ensuring you can meet market expectations and maintain profitability. With our transparent pricing structure, you can confidently position your offerings in the market without concerns about uncompetitive rates.
What is the current exchange rate offered by RemitJunction?
RemitJunction processes transactions in GBP and handles payment services end-to-end. The exchange rate applied for currency conversions is determined by our platform as part of the transaction process. The exact rate will depend on market conditions and the specifics of the transaction at the time it is processed.
Support and Setup
What support does RemitJunction offer?
RemitJunction offers comprehensive customer support, from technical assistance to guidance on regulatory matters. Our team is here to ensure your platform runs smoothly and meets your business goals.
How long does it take to set up the platform?
Our solution is designed for rapid deployment. Depending on your requirements, your platform could go live within 72 hours or take a few weeks.
Still have more questions?
Call or email us about any query and our support team will get back to you.
