RevoluGROUP Canada Inc. (TSX-V:
REVO) (Frankfurt:
IJA2) (the "Company") is pleased to announce that
the first White Label within the remittance sector launches today
under the brand Sendity. The Company further provides a corporate
update.
- Sendity White Label Partner Set to
Launch
- DCE Management Advise of White Label
Launch
- Negotiations - Prominent Canadian
Online Foreign Exchange
- Negotiations - Fortune 500 Company Collaboration
Agreement
- Open Banking Canada
- Top Tier Card Issuer Negotiations
- RevoluGROUP USA Inc. MSB Update
RevoluSEND White Label
Partner
Further to the news release dated the 15th
of June 2021, the white-label partner platform is branded Sendity.
The partner launches the platform for initial trials today, the
20th of September 2021. Exclusively utilizing the RevoluPAY PSD2
banking license, 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 chosen by the partner, having adopted countries in which
they maintain significant users. As with all such white-label
licensing, the RevoluPAY PSD2 banking license and superior KYC and
AML protections sustain all financial cashflows.
DCE White Label Launch
As per the news release dated the
14th of December 2020, the Company expects to launch its first
white-label enhanced RevoluEX powered platform for DCE
partners in September 2021. RevoluPAY management received
confirmation from the DCE management team on the 8th of September
2021 confirming that they intend to launch within the previously
informed timeframe.
Prominent Canadian Online Foreign
Exchange
The Company is pleased to announce that it is in
advanced negotiations with a prominent Ontario-based Canadian
Foreign Exchange company involved in businesses such as money
transfer, online currency tools, and Currency Converters. Eventual
synergies may include cross-use of financial licenses and
technology linked to an eventual easing of banking regulations in
Canada through the adoption of Open Banking legislation.
Fortune 500 Company
Negotiations
Over the past approximately six months, the
Company has been in extensive talks with a prominent Fortune 500
company involved in the international payment sector. These talks
appear to be arriving at fruition. The parties commenced
preparation for an eventual definitive agreement to allow
international depositary services and correspondent bank accounts
in numerous desirable jurisdictions, including the USA, Canada, and
the United Kingdom, amongst others. Should these talks prove
ultimately fruitful, the Company will obtain partner access to a
portfolio of products for the financial services sector, including
retail and investment banking. Likewise, the Company's EU-issued
PSD2 Master License and Canadian FINTRAC license may be utilized in
reciprocal international transactions.
Open Banking Canada
With federal elections taking place today in
Canada, recent news reports indicate that both Liberals and
Conservatives are pledging a rapid Federal adoption of Open Banking
regulations similar to those in Europe. RevoluGROUP is a leader in
the sector, currently holding both the EU granted PSD2 banking
license and the Canadian FINTRAC License. Bringing the RevoluPAY
app's banking technology home to Canada has been the management's
goal from the outset. A Canadian federally endorsed open banking
legal framework appears to be finally approaching. During this
interim term, RevoluGROUP chose to accelerate the adoption of its
RevoluPAY Neobank Fintech to customers worldwide, having met and
exceeded Europe's most stringent banking security criteria to
obtain the coveted pan-European PSD2 license. RevoluPAY also
joined forces with the top 40 world bank BBVA, PNC,
Flutterwave, and Thunes. RevoluPAY is currently transacting
with +120 countries and expects to return to Canada with its
Financial Technology upon final adoption of Open Banking
legislation.
Top Tier Card Issuer
Negotiations
The Company expects to finalize an agreement
with one of the top 4 worldwide card issuers shortly. The proposed
agreement permits RevoluPAY to become the primary card issuer of
multicurrency payment cards both for RevoluPAY users and
third-party white-label derived partnerships. Notable 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 eventual direct cooperation 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 this
month.
RevoluGROUP USA Inc. MSB
Update
Further to the news release dated the 1st
of June 2021, the Company has dealt with a predicament caused by
the COVID-19 Pandemic surrounding new restrictions dated 30th
August 2021 imposed by the EU on travelers from the United
States and similarly enforced regulations on EU Citizens stemming
from the United States Presidential Proclamation dated 25 January
2021. These evolving travel restrictions limit the movement of
EU-based staff currently impeded from entering the US and
restricted from returning to the EU from the US. As an immediate
solution, Alfredo Manresa has temporarily resigned as Vice
President of RevoluGROUP USA Inc, replaced by longtime Company
advisor and Miami, Florida resident Emilio Morales. The Company is
in close contact with the regulator, who requires both the
President and Vice President of RevoluGROUP USA Inc. to be
physically present in the United States for final regulatory
assessment and license approval. The Company has chosen to promote
remittance specialist Emilio Morales as VP to expedite the final
MSB process. The Company expects the Florida Department of State,
Division of Corporations, to amend the corporate registry with the
VP appointment of Mr. Morales within ten days, clearing the way for
the eventual approval of the Florida MSB license.
Links Used in this News
Release.
Sendity https://sendity.com/ Open Banking News
Canada - https://shortly.cc/NTt83
About RevoluPAY®
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 175,180,592
shares issued and outstanding.
RevoluGROUP Canada, Inc.
"Steve Marshall" ______________________STEVE
MARSHALLCEO
For further information, contact:RevoluGROUP
Canada Inc.Telephone: (604) 332 5355Facsimile: (604) 687 3119Email:
info@revolugroup.com
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.
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