RevoluGROUP Canada Inc.
(TSX-V:
REVO),
(Frankfurt: IJA2) (the "Company")
is pleased to announce that RevoluSEND is to start remittances to
Venezuela, now serving 117 countries. RevoluPAY EP S.L. entered
into a Definitive Agreement ("DA") on the 2nd of September 2022
with DOL Corporation Inc., trading as ITALCAMBIO, the market leader
in local Venezuelan remittance deliveries.
About
ITALCAMBIO
ITALCAMBIO, founded in 1948, currently occupies
the #1 spot for local delivery of international family remittances
and money transfers in Venezuela. ITALCAMBIO maintains 39 physical
remittance collection points across Venezuela. ITALCAMBIO
operations attained the prestigious ISO 9001 designation in 2008,
perpetually maintaining said status.
The Venezuelan
Remittance Market
The Venezuelan diaspora in the United States
comprises nearly 460,000 who were either born in Venezuela or
reported Venezuelan ancestry or race, according to tabulations from
the United States Census Bureau. A significant population of the
Venezuelan diaspora lives in Florida. Other significant Venezuelan
diaspora populations worldwide are: Colombia (2,009,000), Peru
(978,000), Ecuador (659,000), Chile (472,000), Brazil (361,000),
Spain (297,000), and Panama (121,528) as per United Nations
Population Division estimates.
Venezuela received family remittances of
approximately $3.54bn USD in 2021. The main remitting country was
the United States, with approx. USD $869,471,947, followed by Spain
$449,064,000, Chile $446,040,000, Colombia $442,984,500, Peru
$400,491,000, and lastly, Brazil $341,145,000.
RevoluPAY is a self-licensed Neobank having
secured E.U. PSD2 Central Bank, Canadian FINTRAC CANAFE,
United States FINCEN, and Florida Office of
Financial Regulation financial licensing and permits.
The licensed E.U. financial institution
6900 RevoluPAY is a primary issuer
of Visa® Cards and an
official Visa® Affiliate Member. Through
RevoluPAY international proprietary financial licensing and
bilateral banking agreements, the Company intends to assist
ITALCAMBIO with the capture of remittances in the aforementioned
primary markets, channeling those funds for delivery through the
extensive ITALCAMBIO network into Venezuelan territory.
Links Used in this News
Release.
ITALCAMBIO Website - https://www.italcambio.com/ ITALCAMBIO
Physical offices - https://www.italcambio.com/sucursales.php
Venezuelan Remittance Data - https://tinyurl.com/bdzhdpjs
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,
Gaming Credits, Leisure payments, Travel Payments, etc. RevoluPAY
is aimed squarely at the worldwide multi-billion dollar Open
Banking sector, cross-border forex payments, 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 licensed United States MSB, Canadian FINTRAC, and
European PSD2 payment institution 6900 under the auspices of E.U.
Directive 2015/2366 with EU 27 Country Passporting and official
issuer of Visa® Cards and
authorized Visa® Affiliate Member.
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,
Cross-Border Forex Payments, 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 189,957,876
shares issued and outstanding.
RevoluGROUP Canada,
Inc.
"Steve Marshall" ______________________STEVE
MARSHALLCEO
For further information, contact:RevoluGROUP
Canada Inc.Telephone: (604) 332 5355Email: 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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