Pay-in (Collection):

The collection of money transfers involves our customers and Points of Service in locations convenient to their homes and workplaces.

Our customer remits money to one of our Points of Service to send to a beneficiary in a foreign country. The average remittance is $200, though it varies by country.  The customer is handed a receipt, which, in most jurisdictions, gives her protection under the surety bond posted with the applicable state regulator.    When necessary, we collect copies of customer identification, which can be attached in digital form to the customer's electronic file.

Points of Service:

Branches:   We have 30 branches in five states, which are staffed by Quisqueyana employees.   Our branches accept money transfers, as well as offering our entire range of Connection Services.

Agents:   We have over 700 agents and can accept funds in the United States, Spain and eight other countries.   Our agents are usually long-standing owners of small retail businesses in immigrant communities, whom we have approved to accept money transfers on our behalf. They must complete an application form and pass a due diligence process in which we require them to give us identity documents, bank and character references, business licenses and a copy of their storefront lease. We maintain and update files on all of our agents.   All agents are connected to us electronically using Qe, our proprietary data processing system.

Cashpin.com:   Quisqueyana's merchant system, Cashpin.com, enables users to send money via the Internet by using MasterCard or Visa credit or debit cards. Cashpin uses Quisqueyana's money transfer infrastructure, accounting and compliance modules and other processes operated through Qe. We have developed an in-house state-of-the-art authentication system, which has allowed Cashpin's transaction authentication team to establish a near perfect write-off record since the inception of the system. Cashpin guarantees users that their money will be delivered or available for collection within one business day.

The process begins when our customer remits money to one of our Points of Service.   Once the transaction is entered at that Point of Service, it immediately and automatically enters our accounting, compliance, credit and accounts receivable modules.  

The system tracks the progress of each stage of a transaction's movement through the pipeline. At any time, we can determine the location of those specific funds - whether still at the Point of Service, en route to our offices or deposited in our bank accounts. Thus, we always know exactly how much is owed to us by an agent, the amount of funds at a branch, and our bank balances. We also know the volume of remittances destined for a particular country at any time, enabling us to manage our foreign exchange requirements and fund our correspondents accordingly.

Most importantly, the transaction enters our compliance system.   Described in greater detail on the Compliance page, this Qe module processes each individual transaction through a rigid series of tests and checks, to evaluate any potential compliance issues or suspicious activity. If the transaction raises any compliance issues, the particular money transfer (or group of transfers, if a pattern of suspicious activity is detected), is routed to our Compliance division for further analysis.   At that point, the transaction is not processed further for delivery, unless cleared by an AML specialist. Our case management program tracks each opened suspicious activity inquiry. Once an inquiry is resolved, either by clearance or the reporting of suspicious activity to the appropriate regulators, a permanent record is kept in our system of each step in the inquiry and its outcome. A customer's personal information is linked automatically to every transaction he makes. In many instances, this includes digital copies of identification.

Once a transaction clears our compliance process, it becomes available for distribution using our Pay-out network.