money or value transfer services definition
money or value transfer services means a financial service that involves the acceptance of cash, cheques, other monetary instruments or other stores of value in one location and the payment of a corresponding sum in cash or other form to a beneficiary in another location by means of a communication, message, transfer, or through a clearing network to which the money or value transfer services provider belongs;
money or value transfer services or “MVTS” – means a financial service that accepts cash, cheques, other monetary instruments or other stores-of-value in one location and pays a corresponding sum in cash or other form to a beneficiary in another location by means of a communication, message, transfer or through a clearing network to which the MVT service belongs. Transactions performed by such services can involve one or more intermediaries and a third party final payment.;