PayKii, Inc.; The petition sought a declaratory statement from the Office on whether Petitioner's business model (of providing a business-to-business service that enables individuals in one country to pay utility bills (e.g. electric, water, gas, ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Office of Financial Regulation has issued an order disposing of the petition for declaratory statement filed by PayKii, Inc. on August 15, 2016. The following is a summary of the agency’s disposition of the petition:

The petition sought a declaratory statement from the Office on whether Petitioner's business model (of providing a business-to-business service that enables individuals in one country to pay utility bills, e.g. electric, water, gas, cable television, mobile phone, and internet) for their family members (or themselves) in another country. Payments originating from within or outside the U. S. that the Company will facilitate will be initiated by an individual person (the “retail consumer”) through licensed money transmitters (“MSBs”)) falls within the Florida Money Transmitter Statute, Chapter 560, Florida Statutes. On October 28, 2016, The Office of Financial Regulation issued a Final Order in response to the Petition. Business activities described in the Petition are not exempt from the license requirements of Ch.560, Florida Statutes, and a money services business license is therefore required.

A copy of the Order Disposing of the Petition for Declaratory Statement may be obtained by contacting: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail], or online at:

https://real.flofr.com/ConsumerServices/SearchLegalDocuments/LDSearch.aspx#/searchLegalDocuments.