Vancouver, BC – RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (the "Company") is pleased to announce that RevoluPAY S.L. has signed a Definitive Agreement ("DA") with BBVA ("BTS"), on July 20th 2020. The DA, approved between RevoluPAY CEO, Alfredo Manresa and, Aurora Garza Hagan, CEO of BBVA Transfer Services ("BTS") permits, with immediate effect, RevoluPAY® family remittances at over 60,000 points of sale ("POS") agencies offered by www.bbvatransferservices.com in Mexico, Brazil, Argentina, Colombia, Dominican Republic, Panama, Bolivia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Paraguay, El Salvador, and Uruguay. The parties have agreed upon delivery commissions payable to BBVA ("BTS"), independent of the amount sent and per individual beneficiary delivery and origination via RevoluPAY for the countries mentioned above. As per the news release dated 25th May 2020, the parties completed the technology integration into an unreleased version of RevoluPAY, approved by BBVA. The Company will imminently release this BBVA version for Apple and Android devices to commence remittance flows. The upcoming version also incorporates a multi-currency user experience.
CEO, Steve Marshall, commented: "Since the advent of our PSD2 banking license on 21st May 2020, BBVA is the first of many top tier financial institutions looking to join forces with RevoluPAY and our proprietary financial technology."
BBVA is one of the world's Top40 financial institutions, with approximately 783 US$ billion in assets. The history of BBVA began in 1857 in Bilbao, in northern Spain. The international presence of BBVA started in 1902 when the Banco de Bilbao opened a branch in Paris and 1918, another in London. Today BBVA boasts branches in 17 countries and approx. 75 million customers. BBVA's 2019 revenue was approx. €24,54 billion. The bank currently has roughly 140,000 employees worldwide. In comparison to recognized Canadian Banks, BBVA is more substantial than both Bank of Montreal (BMO) and Canadian Imperial Bank of Commerce (CIBC).
RevoluPAY Registered as E.U. Financial Institution 6900
Further to the news release dated 21st May 2020, the increased paid-up share capital of RevoluPAY EP S.L. became ratified in the state bulletin on 17th June 2020. RevoluPAY EP S.L. was assigned the European financial institution indicator code 6900 on 11th June 2020 through IBAN (International Bank Account Number) activation for processing of cross border transactions. On the same day, RevoluPAY appeared on the European Banking Authority portal.
Links Utilized in This News Release
Top 40 banks - https://accuity.com/resources/bank-rankings-top-banks-in-the-world/
Wikipedia BBVA - https://en.wikipedia.org/wiki/Banco_Bilbao_Vizcaya_Argentaria
BBVA BTS - https://www.bbvatransferservices.com/
BBVA Presentation - https://investors.bbva.mx/wp-content/uploads/2018/09/20180727-Corporate-Presentation-2Q-2018-1.pdf
BOE - https://www.boe.es/borme/dias/2020/06/17/pdfs/BORME-A-2020-115-08.pdf
BDE Page 74 & 219 - https://www.bde.es/f/webbde/SGE/regis/ficheros/es/renl184.pdf
EU B.A. portal and BDE Banking Registration - https://docdro.id/tAHHVC6
The Company's flagship technology is RevoluPAY®, the Apple and Android multinational payment app. Built entirely in-house, RevoluPAY features proprietary, sector-specific, technology of which the resulting source code is the property of the Company. RevoluPAY built-in features include Remittance Payments, Retail and Hospitality payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, Leisure payments, Travel Payments, etc. RevoluPAY is powered by blockchain protocols, and, is squarely aimed at the worldwide multi-billion dollar leisure sector and, + $595 billion family remittance market. RevoluPAY® is operated by the European wholly-owned subsidiary RevoluPAY S.L located in Barcelona. RevoluPAY S.L is a self-licensed European PSD2 payment institution under the auspices of E.U. Directive 2015/2366. RevoluGROUP Canada Inc. controls five wholly-owned subsidiaries on four continents.
About RevoluGROUP Canada Inc.:
RevoluGROUP Canada Inc. is a multi-asset, multidivisional publicly traded Canadian company deploying advanced technologies in the; Banking, Mobile Apps, Money Remittance, Mobile Phone Top-Ups, EGaming, Healthcare Payments, Esports, Invoice factoring, Online Travel, Vacation Resort, Blockchain Systems, and Fintech app sectors. Click here to read more.
For further information on RevoluGROUP Canada Inc. (TSX-V: REVO), visit the Company's website at www.RevoluGROUP.com. The Company has approximately 165,098,265 shares issued and outstanding.
RevoluGROUP Canada, Inc.
For further information contact:
RevoluGROUP Canada Inc.
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.