Closed-Loop Wallet Compliance
REMITNIX operates a strict Closed-Loop ecosystem for digital services and domestic gift transfers. This operates distinctly and separately from our fully regulated Cross-Border Remittance services.
How It Works
Stripe / Cashfree
Funds settled to platform
Assigned to recipient
Bills, gift cards, services
Closed-Loop Wallet
Funds can only be used inside REMITNIX. No withdrawal or external transfer allowed.
Gift-Based Model
Payments are treated as purchase of value for another user, not money transfer.
Regulatory Exemption
Covered under global “limited network” or “stored value” exemptions.
Official References
Important Closed-Loop Conditions
- No peer-to-peer (P2P) cash transfers
- No bank withdrawals from the Closed-Loop Wallet
- No cross-border wallet gifting (must use the Remittance service)
- Wallet funds are exclusively for purchasing services, bills, and domestic gifts
Looking to Send Money Abroad?
Our Closed-Loop Wallet is designed purely for domestic utility, such as our Gift Transfers (currently exclusive to India). For sending money internationally, such as from India to Nepal, you must use our dedicated Cross-Border Remittance service, which operates under full regulatory KYC adherence for international money transfers.