Among the earliest requirements for starting a money transfer business is choosing reliable money transfer software. This is usually tricky, especially for starters as they would bump into a lot of options. New money businesses are not the only ones bound to encounter this dilemma. Existing businesses trying to add money transfer services to their operations or making a complete switch to remittance service, also encounter the same challenge.

It is important to understand the money transfer software you choose for your business and what you stand to gain before making the call. Since a lot of resources go into building your money business – whether as a bank, money transfer company, or bureau de change, it will be of great business value if you do not operate blindly. Understanding why your business needs an asset, like the Money Transfer Application, would help you save time and money in deciding what is best for your business.

In this post, we cover the outstanding reasons your business needs to run on MTA. Specifically, we look into:

• Compliance
• In-built accounting and transaction transparency
• Exchange rate
• Multi-currency
• Flexible commission spreading feature
• Bill Payment
• Strong Support team
• Seamless integration

What does MTA offer your Business?

The Money Transfer Application (MTA) is a complete software suite designed for banks, money transfer operators, and Bureau de Change businesses. MTA supports 150 currencies and is used by over 2000 businesses worldwide. 

In addition to the above, MTA contains lots of features tailored specifically towards what your business needs.

Going further, we will show you 8 important reasons your business needs MTA. We also detail why integrating this software should be at the top of your list for your money transfer business.

Security Compliance

When it comes to security, the Money Transfer Application is unmatched. Aside from the strong technical security features of the software itself, MTA supports the compliance rules and regulations guiding money transfer business in different countries. 

Compliance is the measure put in place by governments to ensure money transfer businesses operate efficiently and provide customers with better support. 

These measures differ from country to country. MTA has been built with most of these regulations in mind. This, over the years, has made MTA a top pick among global brands. This way you have the peace of mind to safely operate anywhere you are. With specialized technologies like our MTAComply, we can automatically detect smurfing and fraudulent activities. MTA also deploys face recognition using the MTAFaceMatch technology built into the software. 

Overall,  MTA protects your business from being used by criminals to launder money. 

In-built Accounting & Transaction Transparency

Using the Money Transfer Application, you have complete control of your business – from access to daily transaction reports to accounts settlements and balances. You would be aware of cash flows within your business –  how money is sent, to whom money was sent, the amount sent, banks involved, tracking identity, etc.

No hidden charges whatsoever. In-built accounting technologies like the MTAClearHouse allow users to automate end-of-day reconciliation across all parties. MTA also does clearing, netting, settlement, advanced reporting, and detailing profits or losses.

You should also read: The Future of Remittance in Africa

Preferred Exchange Rates

Getting the best exchange rates out there is critical to your money transfer business. MTA gives money transfer operators the flexibility to set up exchange rates favourable to their business. This can be achieved in three ways; you can choose to create your exchange rates from scratch, integrate the rates of an existing money transfer operator, or use rates already set by MTA within the application.

Multi-Currency

MTA supports 150 currencies for sending and receiving money. It is incredibly easy to transfer money across borders and between currencies without any foreign exchange glitches. 

MTA supports currencies of all major remittance-sending countries. It supports the British pound, Euro, US dollar, French Franc, Chinese Yuan, etc. It also supports the currencies of low and middle-income countries, giving your business a wide scope of operation. 

MTA also supports and facilitates cryptocurrency transfers. As a crypto exchange platform, MTA is very secure and makes it possible for your customers to buy and sell cryptocurrencies, as well as accept cryptocurrency as a payment method. Just like bank transfers, and cards.

With a currency pool such as this, you never have to worry about underserving your market since the majority of currencies transferred across borders are available on MTA. Our services span across Europe, Asia Pacific, Africa, the United States, and the Middle East.

Flexible Commission Spreading Feature

MTA provides money transfer operators with the functionality of spreading commission percentages in preferred proportions among agents working with them in different countries. As a Super Admin, you decide the spread of commissions, the percentages you are willing to share, and who gets them irrespective of the distance.

Bills Payments 

When we say the Money Transfer Application is a complete money app, we mean it. MTA enables you to step into the bill payments market by offering local and international bill payment services to customers. This includes airtime purchases in over 140 countries. 

The MTA bill payments module allows your customer to pay virtually any bill online. This bill can include recurring subscriptions, hospital bills, school fees, one-time payments, online donations, etc. 

With the explosion in money transfer worldwide, customers sending money overseas through you would most likely do the same for local and international bills whether for themselves or their loved ones. You can decide to merge the MTA bill payment service with remittance or offer bill payment services only.

Strong Support Team

It is so easy to get help with MTA when you need it. Our support team is made up of both technicians and customer service experts who are available to assist you with any issues you encounter whenever and wherever.

From MTA Startup to Large Enterprise packages, expect nothing short of a timely and efficient resolution, 24/7.

To aid the resolution of any issue you might have, MTA has support teams operating across different time zones and countries. It does not end here, MTA also has a 24/7 Skype support system in place. You sure have nothing to worry about.

Seamless integration

Although built as a stand-alone solution, MTA seamlessly integrates with other systems you may already have in place. MTA’s easy integration is defined by its service-orientated architecture and systematic agility, allowing the system to handle any form of modification while maintaining its core structure. 

MTA securely works in any operating system including Solaris, Linux, UNIX, and Windows. The software has been successfully integrated with the platforms of many popular financial service providers such as The Currency Cloud, InterSwitch, PayPal, M-Pesa, and TransferTo.

Easy to Use

Perhaps the super-charm of MTA is how easy it is to navigate and use. Despite being loaded with lots of features, It only takes a few steps to get the app off the ground and running. With MTA, you control everything, from sending money and accepting payments to monitoring real-time transactions with relative ease. We love to phrase that MTA “is complex inside but simple outside.”

So Why MTA?

Awarded the best remittance app in 2017, MTA is trusted by thousands of businesses worldwide. MTA is a business asset you cannot afford to pass over. Its flexible pricing structure helps you pick a plan that is best suited for your business and budget. 

This is the software suite for money businesses looking to ease the operations hassles and automate processes for profitable returns. Thinking of building the next money business powerhouse? Start with MTA.