RevoluGROUP Canada Inc. RevoluPAY USD and CAD App Launch
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VANCOUVER, British Columbia, Feb. 08, 2021 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (the "Company") is pleased to announce that it intends to launch the USD and CAD multicurrency and aesthetically redesigned version of the proprietary RevoluPAY App on or before 20th Feb 2021. The launch is precisely timed to coincide with numerous future white-label parties for whom multiple currency payments and disbursements are a requisite. The Company further outlines its roadmap to future user acquisition programs through the white-labeling of its technology.
Multicurrency RevoluPAY App
On November 30th, 2020, the Company informed shareholders of the future projected RevoluPAY App enhancements pertaining to multicurrency, forecasted to support in-app on-the-fly switchable currency accounts initially in CA$, USD, Euro, and GBP. The corporate objective was to enable RevoluPAY and future White-Label users to transact in a specific currency and operate directly in that currency. The Company has since completed the entire multicurrency reprogramming of RevoluPAY allied to the comprehensive aesthetic redesign of the App first revealed on October 19th, 2020. The enhanced App version planned for release on or before 20th Feb 2021 incorporates the addition of USD and CA$ functionality, with the inclusion of GBP coming shortly after that. Shareholders are advised that the Company has previously arranged multiple international holding accounts in CA$, USD, Euro, and GBP to guarantee its fiduciary obligations as financial institution 6900 and PSD2 license holder. The launch of multicurrency signifies the start of the white-label rollout projected over the previous years.
White-Label - The Chosen Path for User Onboarding
The Company informed its shareholder on May 25th, 2020, of its specific plans to incur substantial user onboarding once the technology for all its revenue verticals had been released and proven functional. The Company has now arrived at this juncture. Therefore, it intends to initiate the rollout of numerous white-label variants of RevoluPAY, in some cases incorporating other verticals, into standalone third-party branded apps for multiple partners. These white-label platforms have been coded and are now ready to be deployed. The targets for the white-labeling of our technology have been entities with non-conflicting business models that seek increased revenue from their latent client userbases. The Company will outline below, in reverse chronology, the upcoming planned white label partners:
On the 1st of February 2021, CEO Steve Marshall entered into a non-disclosure agreement ("NDA") with a mobile phone carrier domiciled in the Caribbean. Said telecommunications provider currently maintains approximately 13 million users in Central America, the Caribbean, and the Pacific. Discussions center around a homogenous carrier-branded packaged white-label version of RevoluPAY, RevoluSEND, RevoluCHARGE, RevolUTILITY, RevoluVIP, RevoluEX, and RevoluPOS.
On the 14th of December 2020, the Company advised shareholders that it had agreed to white-label its RevoluEX technology and RevoluPAY App for the affiliated cryptocurrency exchange Huobi. This white-label development is now completed and expected to launch shortly. It is estimated that Huobi Global maintains 5 million users in over 130 countries worldwide.
On the 17th of June 2019, the Company advised that it entered into negotiations with a Nasdaq listed company focused upon the Mobile, Cable Broadband, and Paid T.V. sectors, with approximately 50 million subscribers in the South American and African markets. The evolution of these negotiations centers around a similar business model to the aforementioned Caribbean telecommunications provider, specifically, a packaged white-label variant of multiple vertical technologies in one packaged App.
On the 18th of June 2018, the Company advised shareholders that CEO, Steve Marshall, had signed a Non-Disclosure Agreement ("NDA") with a large, highly recognized Chinese Payment processing entity. The Company has recently signed a milestone agreement to procure remittance deliveries into the Chinese market, which was instrumental to the eventual white-labeling and API synergies associated with this eventual collaboration.
On the 9th of August 2017, the Company signed a letter of intent with Al-Fahim Technologies, based in Dubai, UAE. On the 8th December 2020, the Company dispatched corporate advisor Erik A. Lara Riveros to pursue the petition of a Payment Service Provider ("PSP") Money Service Business License in the Dubai International Financial Centre ("DIFC") from the Dubai Financial Services Authority. The Company expects to submit the final paperwork for said PSP license this month. Those mentioned above, plus several other white-label opportunities, are expected to emerge from the UAE region in Q2 2021.
The Company's roadmap for white-label derived user onboarding has thus been in the public domain throughout the whole term of its now concluded almost four years technology rollout. Each revenue vertical has been conceived from the outset as a future white-label technology, meaning that no retooling nor programming of the Company's core technology is required. The Company anticipates the first white-label branded technology to be that of Huobi, followed shortly by those mentioned previously, many of which have been beta-tested either in synergy with the eventual partner or autonomously.
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 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.
RevoluGROUP Canada, Inc.
"Steve Marshall" ______________________STEVE MARSHALLCEO
For further information, contact:RevoluGROUP Canada Inc.Telephone: (604) 332 5355Facsimile: (604) 687 3119Email: firstname.lastname@example.org
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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