PesaNet, Inc. is committed to operating in full compliance with applicable financial services laws and regulations. This page provides an overview of our licences, regulatory registrations, standards adherence, and consumer protection disclosures.
1. Regulatory Registration — FinCEN
PesaNet, Inc. is registered as a Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.
- FinCEN MSB Registration Number: [XXXXXXXXXXXXXXXX]
- MSB Type: Money Transmitter; Provider of Prepaid Access
- Registration Status: Active
FinCEN registration can be verified at the FinCEN MSB Registrant Search.
2. State Money Transmitter Licences
PesaNet holds money transmitter licences (or operates under applicable exemptions) in all states where required by law. Our licences are administered through the Nationwide Multistate Licensing System (NMLS).
- NMLS ID: [XXXXXXX]
Licence details can be verified at the NMLS Consumer Access portal.
State Licence Table
The following table lists our current licence status by state. Users should ensure PesaNet operates in their state before use.
| State | Licence Type | Licence Number | Status |
|---|---|---|---|
| California | Money Transmitter Licence | MT-XXXXXXX | Active |
| New York | BitLicence / MTL | NY-XXXXXXX | Active |
| Texas | Money Transmission Licence | TX-XXXXXXX | Active |
| Florida | Money Transmitter Licence | FL-XXXXXXX | Active |
| Illinois | Transmitter of Money | IL-XXXXXXX | Active |
| Washington | Money Transmitter Licence | WA-XXXXXXX | Active |
| Georgia | Money Transmission Licence | GA-XXXXXXX | Active |
| Delaware | Registered Agent (State of Incorporation) | — | Active |
Additional state licences pending. PesaNet will notify users when new states are added.
3. Card Issuing — Stripe Issuing
PesaNet's virtual debit cards are issued through Stripe Issuing, a regulated card programme manager. Cards operate on the Visa network.
- Cards are issued pursuant to Stripe's issuing bank licence and Visa programme rules.
- Cardholders are subject to Stripe Issuing's Cardholder Terms in addition to these Terms.
- PCI DSS compliance: PesaNet's card data handling meets PCI DSS Level 1 requirements. Raw card numbers (PANs) and CVVs are never stored by PesaNet — all sensitive card data is tokenised and held exclusively by Stripe.
4. Bank Account Linking — Plaid
Bank account linking and ACH transfer initiation are facilitated through Plaid, Inc., a licensed data aggregator and payment initiator. Plaid is subject to applicable federal and state financial data regulations.
- ACH transfers are processed through the Automated Clearing House network under NACHA rules.
- PesaNet does not have direct access to your bank login credentials — all bank authentication is handled by Plaid.
5. Peer Lending Regulatory Disclosure
PesaNet's peer lending feature facilitates direct loans between private individuals. Important disclosures:
- PesaNet is not a lender and does not participate in lending decisions.
- Peer loans are not FDIC-insured and carry risk of principal loss.
- Interest rates are set by individual lenders. Users are responsible for ensuring their lending activity complies with applicable state usury laws.
- PesaNet does not provide investment advice. Past performance of peer lending on the platform does not guarantee future returns.
- Borrowers in certain states may be subject to additional disclosures required by state consumer lending laws. PesaNet will provide these disclosures at the point of loan application.
6. Consumer Protection
6.1 Error Resolution
For unauthorised or erroneous transactions on your wallet or virtual card, contact us within 60 days at disputes@pesanet.app. We will investigate and respond within 10 business days (or 45 days for complex cases, with provisional credit where applicable) in accordance with the Electronic Fund Transfer Act (EFTA) and Regulation E.
6.2 Funds Safety
Customer wallet balances are held in segregated accounts at FDIC-insured financial institutions. PesaNet does not commingle customer funds with operating funds. While PesaNet itself is not a bank and wallet balances are not directly FDIC-insured in your name, the underlying custodial bank accounts are insured. Consult our Terms of Service for full details.
6.3 Complaints
If you have a complaint about PesaNet's services:
- In-app: Help → Contact Support
- Email: complaints@pesanet.app
- Regulators: You may also file a complaint with the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov or your state's financial regulator.
7. Anti-Bribery and Anti-Corruption
PesaNet maintains a zero-tolerance policy for bribery and corruption in all forms. Our employees, contractors, and agents are prohibited from offering, giving, requesting, or accepting any bribe, kickback, or improper payment to influence business decisions. This policy applies globally and covers both public officials and private sector interactions, in compliance with the Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act 2010.
8. Data Protection Compliance
- GDPR: PesaNet complies with the General Data Protection Regulation for EU/EEA users. See our Privacy Policy.
- CCPA/CPRA: PesaNet complies with California privacy law for California residents.
- GLBA: PesaNet complies with the Gramm-Leach-Bliley Act safeguards rule for financial data protection.
9. Accessibility
PesaNet strives to make its Services accessible to all users, including those with disabilities. We aim for WCAG 2.1 Level AA conformance in our mobile application and website. Report accessibility issues to accessibility@pesanet.app.
10. Regulatory Contact
- Compliance Team: compliance@pesanet.app
- Regulatory & Legal: regulatory@pesanet.app
- Law Enforcement: lawenforcement@pesanet.app
- Subpoenas & Legal Process: PesaNet, Inc., Attn: Legal Department, [Address]