Rain Payments Services

Rain Payments Services, Inc. is a regulated entity that supports prepaid debit, money movement, and related payment services under applicable money transmitter licenses.

Licensed Activities

Rain Payments Services conducts the following activities under its money transmitter licenses.

Prepaid Debit Card Issuance

Rain Payments Services supports the issuance and management of prepaid debit card programs. These programs enable cardholders to access funds that have been loaded onto a prepaid account.Prepaid debit programs include: 

Program management and settlement coordination
Cardholder account support
Transaction processing and reconciliation
Compliance and reporting oversight

Prepaid funds are made available to cardholders for purchases and withdrawals in accordance with applicable regulations.

Money Movement

Rain Payments Services facilitates domestic and cross-border money movement in accordance with its licensed authority. This includes: 

Person-to-person transfers
Business-to-business transfers
Merchant settlement
Program-related fund transfers

Money movement services are conducted subject to applicable compliance, reporting, and safeguarding requirements.

Onramp and Offramp Services

Rain Payments Services supports the conversion of fiat currency into digital dollar equivalents and the conversion of digital dollar equivalents into fiat currency where permitted. These services may include: 

Funding of accounts through ACH, wire, or card networks
Payout of funds to eligible bank accounts
Settlement reconciliation

All conversion services are conducted within the scope of licensed activity and applicable regulatory requirements.

Virtual Accounts

Rain Payments Services supports virtual account capabilities. Virtual accounts enable the creation of uniquely assigned account details for customers to receive and transmit funds. Virtual account services include: 

Issuance of named or uniquely identifiable account credentials
Receipt of inbound ACH, wire, or other permitted transfers
Facilitation of outbound fund transfers
Reconciliation and transaction reporting

Virtual accounts are used to support structured fund flows, including customer collections, program funding, and payment disbursements. All virtual account activity is conducted in accordance with applicable licensing requirements and compliance obligations.

Compliance Framework

Rain Payments Services operates under applicable money transmitter licenses and maintains policies and controls designed to support: 

Customer identification and verification
Anti-money laundering compliance
Transaction monitoring
Sanctions screening
Reporting and recordkeeping

Programs are structured to comply with state and federal regulatory requirements in the jurisdictions in which services are offered.

Licensing Information

Money Movement, Onramp and Offramp Services, and Virtual Accounts are offered through Rain Payments Services, Inc. (NMLS ID: 2814492), a licensed money transmitter. Review a list of our licenses for more information. 

Debit Cards are issued by [Bank], Member FDIC, pursuant to a license from Visa U.S.A. Inc. Rain Payments Services is a financial technology company, not a bank. Services may not be available in all states. Availability is subject to applicable licensing requirements and AML obligations.  

Rain Payments System, Inc. (NMLS ID: 2814492) is a Money Service Business registered with FinCEN, not an FDIC-insured bank. It operates as a licensed money transmitter in many states. In other states, services are provided by [Bank], to which Rain is service provider. The Debit Card is issued by [Bank], Member FDIC, pursuant to licensing by Visa U.S.A. Inc.