Vancouver, BC – RevoluGROUP Canada Inc. (TSX-V: REVO ), (Frankfurt: IJA2 ) (the "Company") is pleased to announce an update.
- Bizum EU Wallet Load Launched
- Top Tier Card Issuer Negotiations
- RevoluSEND White Label Partner
- DCE White Labels
Bizum EU Wallet Load
Further to the news release dated the 1st of June 2021, the Company has successfully integrated Bizum E-Wallet RevoluPAY on iOS and Android from midnight 9th August 2021. RevoluPAY users may now download the updated app featuring Bizum Integration. Bizum is a joint technology partnership between 24 banks to allow seamless transfer of funds to and from the Bizum ecosystem, of which RevoluPAY as institution 6900 is now affiliated. Bizum currently has approximately 15.5 million users across Europe, all of which can now load funds to RevoluPAY directly, having received advice of RevoluPAY integration via their native app.
Top Tier Card Issuer Negotiations
The Company is pleased to announce that negotiations with one of the world's top four payment card issuers are approaching fruition. The Company expects to finalize the agreement imminently. The proposed agreement allows RevoluPAY to become the primary card issuer of multicurrency payment cards both for RevoluPAY users and third-party white-label derived partnerships. Desirable within the revised agreement is the ability of users to load RevoluPAY funds onto their credit or debit cards issued by any bank or those of third parties anywhere in the world. In addition, the revised agreement includes an eventual direct liaison between the proposed primary issuer license and our DCE partners, in which RevoluPAY would be the principally licensed party for card issuance. RevoluPAY would also be permitted to issue and manage all financial matters for branded cards issued to third parties. These negotiations remain subject to a binding non-disclosure agreement ("NDA"). The Company hopes to finally inform shareholders of the positively revised agreement and card issuer partner very soon.
RevoluSEND White Label Partner
Further to the news release dated the 15th of June 2021 the Company has successfully submitted the completed white-label platform, which the partner has approved. The partner plans to launch the platform under their own brand before the end of August. Shareholders will be informed of the brand and launch via republication of the official partner news release on the day it occurs. The white-label platform offers remittance deliveries into Mexico, Brazil, Argentina, Colombia, Chile, Dominican Republic, Bolivia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Paraguay, Venezuela and Uruguay. These markets are those specified by the partner, having defined countries in which they maintain significant user leverage. As with all such licensing, the RevoluPAY PSD2 banking license and superior KYC and AML protections sustain all financial cashflows.
DCE White Labels
Further to the news release dated the 1st of June 2021 the Company expects to launch its first white-label of the enhanced RevoluEX powered platform for DCE partners in September. Significant expansion changes are underway as the crypto sector matures, bringing with it ever-increasing scopes of synergies that markedly evolve previous accords. The close correlation between the underlying agreement with the top four payment card issuers and future synergies invariably interlink multiple facets of the DCE white-label launches. However, shareholders should expect a successful launch in September, linked to sizable DCE user uptake.
Management Rescheduled Trip to the United Kingdom
Further to the news release dated the 14th of June 2021, and due to constantly changing UK COVID travel restrictions, Mr. Marshall has rescheduled his trip to the United Kingdom four times. However, U.K. government changes introduced on the 8th of August have now permitted such a trip without quarantine. Confirmed meetings commence on August 16th, and Mr. Marshall's arrival in the U.K. on the 14th is now definitively confirmed. During the week from 16th through 20th numerous meetings are confirmed with certain financial institutions located in the London Financial Center of Canary Wharf. The Company expects to inform shareholders of the outcome of these meetings and underlying agreements before the end of August.
Links Used in this News Release.
The Company's flagship Neobanking technology is RevoluPAY®, the Apple and Android multinational payment app. Conceived entirely in-house, RevoluPAY features proprietary, sector-specific technology of which the resulting source code is the Company's intellectual property. RevoluPAY's built-in features include Remittance Payments, Forex, Crypto-to-fiat exchange, 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 employs blockchain protocols and is squarely aimed at the worldwide multi-billion dollar Open Banking sector and + $595 billion family remittance market. RevoluPAY® is operated by the European wholly-owned subsidiary RevoluPAY EP S.L situated in Barcelona. RevoluPAY is a dual-licensed Canadian FINTRAC and European PSD2 payment institution 6900 under the auspices of E.U. Directive 2015/2366 with EU Passporting. 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; 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 174,980,592 shares issued and outstanding.
RevoluGROUP Canada, Inc.
For further information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Facsimile: (604) 687 3119
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.