Vancouver, BC – CUV Ventures Corp. (TSX-V: CUV) (the "Company") is pleased to inform shareholders that Alfredo Manresa, CEO of the wholly owned subsidiary RevoluPAY® S.L., has received a direct call, on March 19th at 5.50pm CET, from the Head of License Authorizations of the Central Bank, concerning the impending PSD2 banking license approval. During the call, the senior department of authorizations official explained to Mr. Manresa that the bank had preferred to call directly to explain that the slight approval delay is associated with the shear volume of departmental work underway, however, that between Thursday 28th and Friday 29th of March 2019, the central bank will issue a written communication to RevoluPAY® concerning the PSD2 license petition. Management remains extremely confident with regard to the eventual granting of a proprietary PSD2 Central Bank license to RevoluPAY®. Further, RevoluPAY® signed a contract, dated 15th March 2019, confirming, with immediate effect, the incorporation of American Express into the RevoluPAY® platform. Previously RevoluPAY® accepted Visa, Mastercard, Swift, ACH and SEPA payments into the company's proprietary e-Wallet app, however, as of the aforementioned date, the company is pleased to also welcome American Express cardholders.
About the PSD2 Central Bank License
The company considers the eventual granting of PSD2 license as an entry into the future of modern banking. Known colloquially as the "Open Banking Directive", PSD2 license holders are licensed to compete directly with conventional banks in today's digital banking era. Increasing numbers of worldwide consumers are switching exclusively to digital banking, through phone apps or, web-based platforms. The list of illustrious tech giants who have obtained a PSD2 license over the past 18 months includes: Google Inc., Facebook, Alipay, Stripe, etc. The company believes that such a license will bring with it expanded horizons for CUV Ventures and, a potentially lucrative access to the electronic banking world via its proprietary RevoluPAY® app. While RevoluPAY® continues to operate via an indefinite third-party PSD2 license, the advent of the granting of a proprietary PSD2 license should, ostensibly, bring with it: increased corporate autonomy, cost savings and, the worldwide notoriety management believes RevoluPAY® will achieve.
RevoluPAY® App Update
Booking Holdings and Expedia VCC Update
The company is pleased to announce that the clearance of VCC payments continues to increase exponentially and, that the average gross profit for the company, calculated as of today, is currently situated at approximately 4.5%.
About CUV Ventures Corp.:
CUV Ventures Corp. is a multi-asset, multidivisional publicly traded Canadian company deploying advanced technologies in the; Online Travel, Vacation Resort, Mobile Apps, Money Remittance, Mobile phone top-ups, Invoice factoring, Blockchain Systems, and Fintech app sectors.
Our flagship technology is RevoluPAY®, the Apple and Android multinational leisure payments and remittance app, powered by blockchain protocols, and aimed at the worldwide + $595 billion family remittance market. Click here to read more.
For further information on CUV Ventures Corp. (TSX-V: CUV) visit the Company's website at www.cuvventures.com. The Company has approximately 134,523,337 shares issued and outstanding.
CUV VENTURES CORP.
For further information contact:
CUV Ventures Corp.
Telephone: (604) 685-6465
Toll Free: 800-567-8181
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.