Vancouver, BC – RevoluGROUP Canada Inc. (TSX-V: REVO) (“the Company”) is pleased to announce an update.
- RevoluPAY VCC Processing Expedia, Bookings Holdings, Agoda
- RevoluCHARGE Pay-As-You-Go Mobile Top-Ups Update
- United States MSB (Money Service Business) License Update
Expedia, Bookings Holding VCC And RevoluCHARGE Update
Following the previous monthly updates initiated in August 2019, the company would like to provide shareholders with continued insight into its revenue generating verticals RevoluPAY VCC Clearance and RevoluCHARGE for the month of January 2020. The unaudited January 2020 VCC turnover being approximately $CA 391,237. Likewise, pay-as-you-go phone top-ups an unaudited approximately $CA 159,638 during the same month. Shareholders are reminded that no meaningful marketing efforts have been dedicated to either vertical thus far. The growing user uptake of RevoluCHARGE and VCC continues to be largely by word-of-mouth.
RevoluPAY United States MSB (Money Service Business) Licensing Update
The wholly owned subsidiary, RevoluGROUP USA Inc., has received a proposal for legal services which include both an ongoing advisory function and assistance for the successful petition of Money Services Business (MSB) registration and licensing for a total of twenty-eight (28) US States. United States licensing is required for companies to transmit funds from one US domiciled party to both national and, international beneficiaries, (commonly known as a Money Transmitter (MT) licenses) when funds originate in the United States. These licenses are governed by each individual state from which the funds originate. The proposal outlines a chronology which includes simultaneous application for the Florida license, as well as the twenty-seven (27) state licenses that can be petitioned through the recently introduced National Multistate Licensing System & Registry’s (NMLS) Multistate Money Services Businesses Licensing Agreement (MMLA) Program. The MMLA program provides a convenient central submission point for most information required to obtain multi-state licenses and, in order to reduce the amount of paperwork required for each state/license. The company is delighted with the proposal and expects to swiftly engage the parties to petition the mentioned licenses. Shareholders will be updated shortly with formal license petition/approval timelines once the accord is duly signed.
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’s built-in features include: Leisure payments, Travel Payments, Retail and Hospitality payments, Remittance Payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill 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 operates under European E-money - Directive 2009/110/EC through a licensed electronic money institution or EDE Banking Licensed entity. RevoluGROUP Canada Inc. controls 5 wholly owned subsidiaries on 4 continents.
About RevoluGROUP Canada Inc.:
RevoluGROUP Canada Inc. 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, EGaming, Healthcare Payments, Esports, Invoice factoring, 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 158,139,272 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.