Definition:
An MSO License is a regulatory license required for businesses engaging in money services, such as currency exchange or remittance, in jurisdictions like Hong Kong.

Contextual Explanation:
Companies operating as money service providers must obtain an MSO License to comply with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. Paycompliance helps businesses navigate the MSO licensing process.

Why It Matters:
Operating without an MSO License can result in severe fines, legal action, and potential business closure. Compliance ensures legal operation and builds customer trust.