Money Transfers Sendmoney24

The first version of the Sendmoney24 project was created in 2010 at the request of a British financial company. Since then, the project has been supplemented and improved, and in 2020, we developed a mobile application on the React Expo platform. Unfortunately, in 2023, the project was closed due to restrictions imposed on transfers involving clients from CIS countries, which made up a significant portion of the transfers.

For the development, the AbsoluteCMS management system based on the Kohana framework was used - our own development - which has been operational since 2008 and has over 150 websites built on it.

At the beginning of the project's development, the client set the main condition: after the main version was developed, the costs for maintaining the technical part of the system should be minimized, as the project was expected to operate without advertising for the first 3-4 years. Therefore, the main focus was on creating interfaces that allowed operators and system administrators to work independently with the system in full. From the very beginning until the project was closed in 2023, a single programmer handled the system's programming.

First of all, we created a transfer aggregator system that allows one setting transfer parameters from both ends for any country, any payment and money receiving methods, and even any currencies. The transfer aggregator system allows individual settings for any incoming or outgoing transfers, such as fixed or percentage commission, minimum and maximum amounts, document requirements, and other details. In fact, the transfer aggregators are the core of the system.

The company neither had its own cash acceptance points nor cash distribution points. In fact, the company performed intermediary functions. In the final version, more than 25 banks, instant transfer systems, and payment systems were connected to the system. Here are some of them:

• Unistream
• Contact
• Western Union
• Intel Express
• Moneta
• Smart2Pay
• Transfast
• Truevo
• Trustly
• Vyne
• TenPay
• DragonPay
• AmBank
• CIMB Clicks
• Maybank2U
• PaysBuy
• Globe GCash
• Hong Leong
• POLi
• Rietumu CLT
• BNP Paribas

Payment acceptance and sending are carried out in a semi-automatic mode, which implies administrator confirmation of any transfer.

From the existing functionality developed by us, the following can be noted:

• Document upload and identity verification system
• Bank card validation and verification system
• Screening: checking sender and receiver data against sanctions lists
• Checking system users for duplicate accounts with the ability to merge duplicates
• Gift codes and discount coupons system
• Reporting system
• API for application and third-party service integration

The system is deployed on two servers: a server for the public part and a server with private data with encryption. The server and software part of the system is compliant with PCI standards for this type of financial operation and has passed the necessary checks. The website and application have been repeatedly checked by third parties (including uninvited and highly aggressive ones) for vulnerabilities.

In conclusion, I would like to especially note and thank the management of Sendmoney24 for their professionalism and trust. Everything we implemented in this system is the result of joint and long discussions. As a result, we managed to create one of the best systems in the niche, which practically does not require technical support (only for connecting new financial providers). This is in contrast to similar systems, where the technical staff included dozens of specialists. It is in such an environment, of mutual understanding and trust, that serious and stable projects are created.