Vancouver, BC, March 26, 2024 (GLOBE NEWSWIRE) -- 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 French payment services provider MONECO France (“MONECO” or “MONECO.app”). The white-Label agreement (signed on March 23rd, 2024), focuses on the white-label use of RevoluSEND services through seamless API integration, marking a significant step towards enhancing global payment solutions for Africans living in Europe and the $6b+ remittances sent to French speaking countries in Africa (Source: KNOMAD/World Bank Bilateral Remittance Matrix 2021, December 2022.)
Under the white-label agreement with MONECO, RevoluPAY is set to offer a comprehensive range of services through its RevoluSEND platform. This partnership enables MONECO to provide its clientele with cutting-edge payment and money transfer services, all while retaining the MONECO 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, expressed his enthusiasm about the partnership, stating, "This alliance with MONECO represents a significant milestone in our commitment to expanding financial inclusivity across the globe. Leveraging our licensed technology, we are thrilled to enable MONECO to offer their customers a seamless payment solution, underscoring our directive to innovate and meet the dynamic needs of today's consumers."
The white label agreement outlines a structure for technological integration, compliance adherence, transaction monitoring, and support, ensuring that MONECO's clients enjoy a secure and efficient platform for their financial transactions. This initiative further underscores RevoluGROUP's strategic expansion and dedication to fostering partnerships that enhance payment solutions on a global scale.
About MONECO
Drawing from our diverse team backgrounds, MONECO keenly appreciates the financial challenges shared by those in French-speaking Africa and individuals affected by migration. Our personal experiences stretch from deep roots in the African continent to life transitions toward Europe, encapsulating the diaspora's narrative. This mixture of life stories drives our mission to provide critical financial bridges between Europe and Africa.
Our dedication is embedded in the ambition to democratise financial access across over 12 French-speaking African nations while also catering to the African diaspora within Europe. MONECO offers a comprehensive array of services designed to simplify and secure financial operations for our unique user base, integrating mobile payments, currency exchange, and remittances.
MONECO has grown rapidly, supporting over 8,000 active users with 21,000 more awaiting our advanced Neobanking solutions. This commitment has positioned us as a critical ally in fulfilling the financial needs of Africans living and working in Europe, underpinned by our leading-edge encryption and blockchain security measures.
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.
