Vancouver, BC, March 13, 2023 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2), (Munich: A2PU92), (the "Company") is pleased to announce a corporate update. The Company issues the current news release in conformity with policy 85, sections A and C of the SECURITIES ACT as it pertains to "Continuous Disclosure."
ACH - Automated Clearing House, Canada, and USA
FPS - Faster Payments Service, United Kingdom
SEPA Instant - Single Euro Payments Area
Visa Direct – Bilateral real-time testing to begin April 3rd. Planned launch May 2023
TSX Venture - Bloomberg Article 11th March 2023
Equity Investment – Status Update
Now Live - ACH, FPS & SEPA Payments
On March 10th, 2023, RevoluPAY completed live testing trials of ACH – "Automated Clearing House" in Canada and USA, FPS – "Faster Payments Service" in the United Kingdom, and SEPA Instant - Single Euro Payments Area 27 countries. The Company is elated to confirm that these fundamental financial conduits are now live and operational. As central components of the Company's future, these transactional conduits are vital to the interoperability sought by worldwide RevoluPAY wallet holders who seek to embrace open banking as a cost-effective Highstreet bank replacement. Furthermore, these integrations are the key to the much-awaited launching and unleashing of some of our pending large-volume revenue platforms of RevoluREALTY, RevoluFIN, RevoluBET, and others yet unreleased publicity.
RevoluGROUP CEO, Steve Marshall, commented on this significant corporate milestone "RevoluPAY users worldwide sought a venerable replacement for their costly checking accounts of old. One key requirement for this adoption to occur was the ability of RevoluPAY to deliver primary electronic transactions until recently the sole purview of Highstreet banks. Incorporating ACH payments and domiciled ACH billing for Canada and the US has long been the backbone of North American banking. For the UK, FPS, the Faster Payments Service directive, and the entire SEPA instant EU block 27 countries. RevoluPAY now runs head-to-head with regular banks. Our preemptive deployment of Open Banking is a testament to our future focus as governments around the globe gradually embrace decentralizing our financial future by bringing our banking onto our handheld devices."
Visa Direct – Planned launch May 2023
Visa Direct is, without a doubt, the next frontier for electronic payments. The ability to remit funds directly to any cardholder anywhere in the world would have seemed unthinkable just a few short years ago. On August 4th, 2022, RevoluPAY became an affiliate member of Visa, permitting the gradual inclusion of Visa Financial Technology into all facets of RevoluPAY. The Company is pleased to announce that it has begun the integration of Visa Direct® Technology and expects to begin live trials with select users on April 3rd, 2023. The Company expects the Visa Direct® Technology to be live for all RevoluPAY users by May 2023. Visa Direct will revolutionize how our users transact. We are honored to be one of the first financial institutions to offer its users this groundbreaking financial freedom and technology.
TSX Venture Exchange RevoluGROUP BNN Bloomberg Article
The Company informed its shareholders on the 21st of February 2023 of our honor to be ascended by the TSX Venture Exchange into the 2023 Top 50 listed companies, placing RevoluGROUP within the top three percentile of all 1724 TSX Venture listed companies. We again wish to thank BNN Bloomberg and the TSX Venture Exchange for the March 11th, 2023, continued coverage of this accolade. Furthermore, the TSX Venture Exchange has released our Top 50 corporate video on its official channel Youtube, Here.
Current Status of the Equity Investment
Further to the news release dated 9th of March, 2023, the second addendum timeline agreed by the suitors during which they continue to consider said final transactional compliance approval should be granted, at the latest, is March 15th, 2023. As such, the remaining regulatory step is now final transactional compliance. The Company reminds shareholders that this step cannot and does not include RevoluGROUP participation. Shareholders will remain closely informed regarding the final step of suitor E.U. transactional compliance approval, which in management's opinion, is the final required step before management can submit to shareholders the entire equity investment terms and disclose the European Financially Regulated acquirers.
Open Banking Canada - https://tinyurl.com/msdt5x2c
Visa Technology - https://revolugroup.com/revolupay_visa_affiliate_member/
RevoluREALTY - https://revolurealty.com/
RevoluFIN - https://revolufin.com/
TSX.V Bloomberg - https://tinyurl.com/46k6nn3z
TSX.V Top 50 - https://money.tmx.com/en/venture50
TMX Group Video - https://www.youtube.com/watch?v=o5UprAWFXg4
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 E.U. 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 192,735,376 shares issued and outstanding.
RevoluGROUP Canada, Inc.
For further information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
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.