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- REMCO Software, Inc.
- 8101 Sandy Spring Road Suite 100B, Laurel MD 20707
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The current mobile application is based on stored value card as a means of remittance, which is currently live and under regulatory supervision in two US states. This new approach brings more transparency, speed and solves the hyper-competitive nature of agent model by improving upon the four key important factors for agents
Splitting the Sale from the Send
With the REMCO platform, we aim to package technology into practical solutions for the money transfer industry, and with our wallet we specifically aim at the cash-in agent role. We have reengineered the processes that customers and agents must follow, and developed a prepaid card that can be sold as any giftcard. The customer then visits a mobile-enabled website to set up and fund their wallet. This website offers options for affordably splitting the funds and for other controls previously not possible. By splitting the sale from the send, we change the nature of the agent experience for both the sender and the agent, providing both value by addressing pain points on both sides.
The blockless “tangle” REMCO create using directed acyclic graphs (DAG) will allow programmable Tokens to be issued by remittance partners on the network who then distribute them to requesting agents for sale to senders of money.
The long-established street corner agent role has become less and less satisfying for all stakeholders. As process engineers, we reinvented the agent role and the mechanism by which good funds enter the system and are sent.
REMCO Tokens are intuitive, like physical cash and their predetermined value is less error-prone and simplifies the end-to-end process.
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