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Felton, a banking and payment consultant, discusses the importance of banking licenses, regulations, and compliance in starting a money transfer business. He highlights that many aspiring entrepreneurs express interest in transferring money to various countries but often lack prior experience in the industry. Felton explains that he typically does not engage with those who have no experience, emphasizing the challenges associated with entering this field. If they reconsider after his initial response, he encourages them to seek further understanding of the business. The focus is placed on foundational knowledge and readiness before embarking on this venture.
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