PhotonPay, a provider of digital financial infrastructure, has obtained a Money Transmitter License (MTL) from a US state financial regulatory body.

This regulatory clearance is part of the company’s expansion efforts in the United States and enhances its ability to provide compliant, localized payment and funds transfer services.

In the US, the MTL is essential for companies involved in payment processing, remittances, and other fund transmission activities. Unlike single federal approvals, these licenses are issued at the state level, necessitating that applicants meet standards set by individual state regulators. The licensing process typically involves thorough reviews of governance structures, capital adequacy, anti-money laundering (AML) and counter-terrorist financing (CTF) frameworks, cybersecurity measures, and operational resilience. Approval times can extend from several months to multiple years, reflecting the rigorous regulatory scrutiny involved.

Before this approval, PhotonPay had already registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business (MSB). Holding both MSB registration and an MTL allows PhotonPay to expand its US payment services within a well-defined and compliant regulatory framework.

US payments market context and regulatory significance

The strategic importance of the US payments market highlights the significance of this MTL approval. The global digital payments market, with the US accounting for approximately 35.4% in 2024, is one of the largest globally. Cross-border payment volumes involving the US significantly contribute to global flows, driven by international trade, e-commerce, and multinational corporate activities. Meanwhile, regulatory enforcement has intensified, with around USD 243 million tied to sanctions violations in the United States.

Against this backdrop, PhotonPay’s licensing progress reflects a compliance-first approach to market entry and expansion. The company integrates regulatory requirements into its technology infrastructure and daily operations, embedding controls across Know Your Customer (KYC), Know Your Business (KYB), transaction monitoring, data protection, and fraud prevention. This model supports scalability while maintaining transparency and operational stability for enterprise clients operating across multiple jurisdictions.

By aligning its global digital financial infrastructure with local regulatory frameworks, PhotonPay aims to facilitate compliant cross-border payments, treasury management, and financial operations for businesses worldwide.