Mobile payment company Obopay announced the availability of Obopay Licensed Payment Services for Partners. The new service lets partners leverage Obopay's money transfer licenses throughout the U.S. and its expertise in compliance to accelerate bringing their own differentiated payment solutions to market, the company said.

"The Payments market is quite complex and requires expertise in compliance and working with state and federal regulators to ensure proper licensing, oversight and controls," said Chris Martin, EVP of operations and chief compliance officer at Obopay.

Martin said obtaining money transfer licenses and maintaining them in good standing takes a large investment in time, money and specialized people. He said that by working with Obopay, partners reduce their time to market and are assured of meeting all applicable regulatory requirements.

As a money services business, Obopay maintains money transfer licenses in all states where required and is registered with all the necessary regulatory bodies. With Obopay Licensed Payment Services for Partners, Obopay extends its agency agreements to partners and ensures compliance with applicable state and federal regulations. 

Additonally, partners can take advantage of Obopay's connections to a broad range of payment networks, as well as risk management, compliance and settlement capabilities, the company said. That will enable companies to deliver additional unique services under their own brands.

"Obopay has developed a significant asset through its investment in licensing and compliance expertise," Martin said. "These enable us to serve as a trusted service provider for industry-leading partners and deliver them unique and differentiated services accelerating their time to market."

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