Vancouver, BC and Barcelona, Spain, April 11, 2024 (GLOBE NEWSWIRE) -- RevoluPAY EP S.L. (“RevoluPAY”), a wholly owned subsidiary of RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2), (Munich: A2PU92) (the "RevoluGROUP” or the “Company”) is pleased to announce a strategic White-Label Agreement with the German payment services provider OZANK GmbH (“OZANK”). The white-Label agreement (signed on April 11th, 2024) focuses on the use of RevoluSEND services through seamless API integration to enable OZANK to expand its transaction network to include countries like India, North America and Mexico, China, Philippines, Indonesia, Singapore. Malaysia. UAE and Turkey. The agreement marks a significant step towards enhancing global payment solutions to these markets where German annual remittances are estimated to be over $2.8B (Source: KNOMAD/World Bank Bilateral Remittance Matrix 2021, December 2022.)
Under the white-label agreement with OZANK, RevoluPAY is set to offer a comprehensive range of services through its RevoluSEND platform. This partnership enables OZANK to provide its clientele, including retail users, individuals, small businesses, and freelancers. By integrating RevoluPAY's APIs, OZANK will significantly enhance its capability to process international money remittances and diversify its B2B and B2C marketplace offerings while retaining the OZANK brand identity, powered by the technological and infrastructural prowess of RevoluPAY's extensive network. Additionally, the agreement encompasses support for various operational necessities, including transaction monitoring, adherence to compliance standards, and technological maintenance, showcasing a united front towards achieving operational efficiency and strict regulatory compliance.
Alfredo Manresa, Director of RevoluGROUP and General Manager of RevoluPAY, said, “I am thrilled about the collaboration with OZANK and our innovative Payment-as-a-Service solutions. This partnership underscores our commitment to delivering cutting-edge financial technology that empowers businesses and individuals worldwide.”
The white label agreement outlines a structure for technological integration, compliance adherence, transaction monitoring, and support, ensuring that OZANK's clients enjoy a secure and efficient platform for their financial transactions. With remittances estimated to have reached $630 billion in 2022 (World Bank Group, May 2022), this initiative further underscores RevoluGROUP's strategic expansion as a global settlement provider with the tools and expertise to allow organisations to grow and enhance payment solutions on a global scale.
Gavin McMillan, CEO and Director of RevoluGROUP, stated, “Our cloud-based payment-as-a-service model delivers the global settlement fabric, reach, speed, and payment cost efficiency necessary to support financial technology companies, Neobanks, enterprise and global organisations without relying on traditional banking institutions. By empowering individuals and organisations with these capabilities, we're facilitating greater financial inclusion and driving positive economic impact on a global scale.”
About OZANK
OZANK GmbH is a fintech company based in Berlin, Germany and regulated under financial regulatory Authority “Bundesanstalt für Finanzdienstleistungsaufsicht” (“BaFin”). OZANK is dedicated to revolutionizing the way individuals and businesses conduct financial transactions across borders. With a commitment to security, efficiency, and user experience, OZANK is set to be a leading player in the financial technology sector, with remittances expected across Asia, Eurasia (Turkey) and the Middle East (UAE).
Please note that OZANK is currently operating in stealth mode. RevoluGROUP will provide further updates to our shareholders when OZANK launches publicly. Stay tuned for further announcements.
For more information on OZANK, please go to: www.OZANK.com
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, 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 is aimed at the worldwide multi-billion dollar Open Banking sector and + $630 billion family remittance market. RevoluPAY® is operated by the European wholly owned subsidiary RevoluPAY EP S.L located in Barcelona. RevoluPAY is a licensed United States MSB, Canadian FINTRAC, and European PSD2 payment institution 6900 under E.U. Directive 2015/2366 with EU Passporting.
About RevoluGROUP Canada Inc.
RevoluGROUP Canada Inc. is a multi-asset, multidivisional, publicly traded Canadian Company that controls five wholly owned subsidiaries on four continents. RevoluGROUP deploys 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.
RevoluGROUP Canada, Inc.
"Gavin McMillan"
___________________________
Gavin McMillan
CEO and Director
For further information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Email: info@revolugroup.com
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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.
