FAQs
Platform Capabilities
What is RemitSo's transaction processing capacity?
RemitSo is designed to handle high transaction volumes. It can easily process 60 transactions per minute and scale up to 100 or more as needed.
Will the RemitSo platform experience lag or crashes if the transaction limit is exceeded?
To ensure a smooth experience, any requests exceeding the processing capacity are queued intelligently, preventing system crashes or lag.
Does RemitSo support multiple currencies?
Yes, RemitSo is designed to handle global transactions and supports a wide range of currencies.
As a RemitSo master admin, can I create customized access controls for my partners and agents?
Absolutely! RemitSo's white-label platform provides granular access control features. You can define roles with specific permissions, manage data access, and ensure your users only see what's essential for their needs.
Does the system come with a Load Balancer? If yes, how does the load balancer work?
The system uses AWS Elastic Load Balancer (ELB) to efficiently distribute traffic across multiple servers. This ensures high availability, scalability, and optimal performance, even under increased load.
What load balancing features are available?
The load balancer supports distribution based on predetermined percentages to different third-party payout networks, distribution based on delivery method type (cash pickup, bank deposit, mobile money, etc.), and distribution based on telco type.
What types of promotions are available? Are you open to incorporating additional promotion types based on customer requirements?
The system comes with flexible promotion options, including the ability to add coupon codes. We are also happy to work with you to incorporate additional promotion types to meet your specific needs.
What types of loyalty programs are available? Are you willing to add or amend loyalty programs to align with a company's needs?
Currently, the system doesn't come with a dedicated loyalty program module. However, we have a similar module that allows you to categorize customers and offer different rates, charges, and discounts as needed.
Security and Compliance
How does RemitSo address data security and compliance, especially regarding GDPR?
RemitSo prioritizes data security and compliance with regulations like GDPR. The platform can be deployed on servers within your local jurisdiction, giving you control over your customer data and ensuring adherence to regional data protection laws.
What security measures are in place to protect sensitive financial data within RemitSo?
RemitSo employs multiple layers of security:
- Data encryption (both in transit and at rest)
- Role-based access controls
- Regular security audits and vulnerability assessments
- Multi-factor authentication
How does RemitSo ensure disaster recovery?
By default, RemitSo backs up data up to 00:00 (midnight) of the previous day. More frequent backups or extended retention periods can be arranged at additional cost.
How does RemitSo protect against cyber attacks?
RemitSo utilizes AWS WAF (Web Application Firewall) with pre-configured security rules to protect against common cyber attacks. We also recommend integrating tools like Cloudflare for enhanced security.
Does RemitSo include built-in sanctions screening?
Yes, RemitSo provides sanctions screening at no cost to its customers. This functionality is powered by sanctionlookup.io and is fully integrated into the platform.
Can back office users set compliance limits and alerts within the system?
Yes, the system allows for the configuration of compliance limits and alerts, such as transaction limits, to ensure regulatory compliance. Alerts are generated when predefined thresholds are exceeded.
Are cases automatically assigned for alerts and triggers?
Currently, flagged alerts are reviewed manually, but automated case assignment is planned for future development.
Do you have any solutions embedded (not third-party) already available?
Yes, we have built-in compliance features. You can set various compliance rules and document requirements based on transaction amounts and other criteria. We can fully customize these rules to your preferences. The system triggers email alerts to compliance members as needed.
KYC/AML Compliance
How does RemitSo help Money Transfer Operators with KYC and AML compliance?
RemitSo comes pre-integrated with a leading AML/KYC solution to help you meet your compliance obligations.
Can Money Transfer Operators integrate their own KYC/AML policies?
Yes, RemitSo can be integrated with other AML/KYC solutions upon request.
Are ID verification, screening, and transaction monitoring costs included in your quotes? If yes, which company do you have integrated at the moment?
The system comes with built-in integration for Sumsub. All you need is a license with Sumsub. The system also comes with a manual verification module at no cost.
Can we integrate any additional or other applications?
Yes, we can do on-demand customization at our standard development rate of £15/hour.
Note: As part of the software agreement, we also offer 20 hours of no-cost development support worth GBP 300 complementary. So any integration that falls within 20 hours will be at no cost.
Support and Service Level Agreements
How does the RemitSo support team handle customer queries?
You can contact the RemitSo support team directly via WhatsApp, Skype, or email. Our typical response time is between 1 to 30 minutes during working hours.
What service level agreements (SLAs) does RemitSo offer?
We offer two SLA options:
- Basic Support: Resolution times vary based on issue severity
- Small: 30 minutes to 2 hours
- Medium: 1 business day
- Large: 2 business days
- Premium Support: A dedicated technical account manager provides personalized support and faster resolution times (typically 30 minutes to 1 business day).
Costs and Billing
Are server and hosting costs included in your pricing, or would they be an additional expense?
Server and hosting costs are separate and will be based on your location, jurisdiction, and requirements. We utilize dedicated servers (not shared) and will provide you with a monthly AWS invoice for transparency.
Are there any integration costs associated with the core banking platform?
Yes, there may be integration costs, which will be calculated at our standard development cost mentioned earlier. To estimate an accurate timeline, we need to understand your specific requirements and analyze the effort involved.
Getting Started
Do I need a licence to use RemitSo?
Yes, a valid licence that allows you to operate as a money transfer operator in your business jurisdiction
How does RemitSo ensure compliance with regulations like AML and KYC?
RemitSo has robust compliance features built-in, including KYC/AML checks, transaction monitoring, and reporting. We help you stay ahead of regulatory requirements and mitigate risks.
Can RemitSo integrate with my existing systems and third-party services?
Yes, RemitSo seamlessly integrates with a wide range of third-party systems, including banks, payment gateways, and other financial institutions. Our extensive API library ensures smooth data exchange and efficient processes.
Does RemitSo offer a mobile app and website to end customers?
Yes, RemitSo provides a customizable website, mobile applications for iOS and Android, enabling your customers to send and receive money conveniently on their smartphones.
Is RemitSo compliant with international regulations?
Yes, RemitSo is designed to comply with global regulations, including KYC, AML, and other anti-fraud measures. Our compliance features help you mitigate risk and maintain the highest standards of regulatory adherence.
Is RemitSo a cloud-based or on-premise solution?
RemitSo is a cloud-based money transfer application software, which means you can access it from anywhere with an internet connection. It eliminates the need for complex on-premise installations and maintenance.
Does RemitSo provides API Documentation?
For MTOs with their own development teams, we provide detailed client API documentation, enabling them to build and integrate their own web and mobile applications seamlessly with our backend system.
Can MTOs suggest amendments to the UI/UX and App flows to fit their specific business use case?
Yes, absolutely! RemitSo is designed to be fully customizable to your specific business flows and requirements.
Supported Payment Types
Does RemitSo support both Peer-to-Peer (P2P) and business-to-business (B2B) payments?
Yes, RemitSo supports both peer-to-peer (P2P) and B2B payments. Our platform is designed with robust P2P functionality for instant, automated transactions. While B2B payments are currently processed manually by our team, we are actively working on automating this process to provide the same seamless experience as our P2P service.
What is the difference between P2P and B2B payments on RemitSo?
P2P payments are designed for personal transactions between individuals and offer instant, automated settlement through API integrations. B2B payments cater to businesses and require a manual review process by our team before settlement. This ensures accuracy and security for higher-value transactions.
Why are B2B payments not automated yet?
We understand the importance of automation for all types of transactions. While our initial focus was on perfecting the P2P experience, we are committed to bringing the same level of automation to B2B payments. This is a key priority on our roadmap, and we are actively developing solutions to streamline the B2B payment process.
When can I expect automated B2B payments on RemitSo?
We are diligently working on bringing automated B2B payments to RemitSo as soon as possible. While we don't have a definitive timeline yet, we will keep our customers updated on our progress through our website and other communication channels.
What are the benefits of using RemitSo for B2B payments even though it's currently manual?
Even with the current manual process, RemitSo offers several advantages for B2B payments:
- Secure Platform: Our platform is built with robust security measures to protect your transactions.
- Dedicated Support: Our team provides personalized support to guide you through the B2B payment process.
- White Label Solution: RemitSo can be customized to match your brand identity, providing a seamless experience for your clients.
- Future-Proof Solution: With automated B2B payments on our roadmap, you can be confident that you're investing in a platform that is constantly evolving to meet your needs.
Innovation
What makes RemitSo more than just another money transfer software?
RemitSo is committed to driving innovation in the global money transfer industry. We're not just building software; we're developing cutting-edge technologies to make international payments faster, more accessible, and more convenient for everyone. Our team of experts constantly researches and develops new features to give our clients a competitive edge and provide their customers with a seamless experience.
What are some of the upcoming innovations RemitSo is working on?
We have several exciting features in the pipeline! Here are a few highlights:
- Dynamic Price Controller: This tool will analyze market rates in real-time and automatically adjust your exchange rates to ensure you offer the most competitive prices while maximizing profit margins. (Expected release: August 2025)
- WhatsApp Integration: Soon, your customers will be able to send money internationally as easily as sending a message! Our WhatsApp integration will eliminate the need for app downloads and logins, making transfers incredibly convenient. (Expected release: July 2025)
- Multi-Currency Wallet: We're developing a multi-currency wallet that will allow your customers to securely store and manage various currencies in one place. This will make international transactions faster and smoother. (Expected release: March 2025)
- Accessibility for the Visually Impaired: RemitSo is committed to inclusivity. We're working on features that utilize computer vision to help visually impaired customers use your app through voice commands and sensory feedback. (Expected release: February 2026)
How can I stay updated on the latest RemitSo innovations?
We encourage you to request a demo to experience these innovations firsthand as they are released. You can also stay informed by visiting our website and following us on social media for the latest news and announcements.
What is the "Dynamic Price Controller" and how will it benefit my business?
The Dynamic Price Controller is a game-changer for managing your exchange rates. It acts like an autopilot for your pricing, constantly monitoring market fluctuations and automatically adjusting your rates to optimize competitiveness and profitability. This means you can offer the best possible prices to your customers while ensuring healthy margins for your business.
Why is RemitSo focusing on accessibility for the visually impaired?
We believe that everyone should have equal access to financial services, regardless of their abilities. By incorporating features like voice commands and sensory feedback, we aim to create a more inclusive platform that empowers visually impaired individuals to manage their international payments independently and with confidence.
Integrations
Do you currently have payout networks integrated on your platform? If so, can you confirm the names?
Yes, we have several payout partners already integrated, including: Junipay, DSG Pay, Tranglo, bKash, Muthoot, Monoova. We are also in the process of integrating with additional partners and aggressively expanding our network.
Do customers have to sign separate agreements with all the third-party providers you currently have integrated (if any)?
We act as an introducer and technology partner, and if the implementation scope falls under our 20-hour no-cost policy, we don’t charge. However, a separate agreement with the providers is necessary.
Customization
Can MTOs suggest amendments to the UI/UX and App flows to fit their specific business use case?
Yes, absolutely! RemitSo is designed to be fully customizable to your specific business flows and requirements.
Can we integrate any additional or other applications?
Yes, we can do on-demand customization at our standard development rate of £15/hour.
Partners
Do you currently have payout networks integrated on your platform? If so, can you confirm the names?
Yes, we have several payout partners already integrated, including: Junipay, DSG Pay, Tranglo, bKash, Muthoot, Monoova. We are also in the process of integrating with additional partners and aggressively expanding our network
Do customers have to sign separate agreements with all the third-party providers you currently have integrated?
We act as an introducer and technology partner, and if the implementation scope falls under our 20-hour no-cost policy, we don’t charge for implementation. However, a separate agreement with the providers is necessary.
System Validation
What data can the system validate?
The system can validate various data points, including names, account numbers, mobile numbers, network types, connectivity issues, and account balance limits, depending on the availability of required APIs.
Business Intelligence Reports
What types of reports can the system currently generate?
The system provides various reports, including settlement reports, reconciliation reports, and reports showing transaction details such as principal amount, destination amount, wholesale FX rate, and retail FX rate.
Can the platform generate custom reports?
Yes, custom reports can be generated to meet specific requirements.
What statement options are available for the back office?
The back office can download statements of transaction history in Excel and PDF, access reports for specific beneficiaries, and receive statements automatically by email every month.