TACOMA, Wash.--(BUSINESS WIRE)--Meracord recently received a money transmitter license from the California Department of Financial Institutions, making it the 41st money transmitter license issued to the company. With this license, Meracord is able to offer its full suite of payment processing and money transmission services to residents of the State of California. This represents a significant win for Meracord and signifies to companies and consumers alike that using Meracord means you have entrusted your hard-earned money to a company committed to regulatory compliance and consumer protection.
“We are very excited to have received the California Money Transmitter License. It is essential for our business to work in compliance with state laws and regulations and to have the companies we do business with do the same. Our dedication to the protection of consumers is our highest priority and with these licenses we are able to say we are doing our job right,” said Linda Remsberg, CEO and President.
As a leading contractual payment servicing company, Meracord fully protects its customers by operating in compliance with the various states' money transmitter laws. Under California’s Money Transmission Act, a person shall not engage in the business of money transmission in California, or advertise, solicit, or hold itself out as providing money transmission in California without a license or a legal exemption from licensure.
Obtaining a money transmitter license is a difficult, lengthy and expensive process. However, as a company that embraces integrity, security, transparency and accuracy as its core values, the decision was simple. The license upholds that Meracord has secured over $17 million in surety bonds and undergoes frequent and rigorous licensing examinations. With Meracord’s focus on customer protection, its proprietary technology and first-rate in-house customer service center, it is easy to see why Meracord is head and shoulders above the competition.
To learn more about Meracord’s licensing, visit http://www.meracord.com/About/Licensing.
In business for over 30 years, Meracord is a leading third-party payment service provider of contract payments. A privately owned company specializing in trust account management, Meracord is committed to providing safe, accurate and secure payment services allowing customers to achieve financial goals. Meracord’s substantial licensing and bonding, frequent and rigorous audits, proprietary technology and in-house customer service sets the company above its competitors.