VANCOUVER, British Columbia, June 17, 2019 (GLOBE NEWSWIRE) -- CUV Ventures Corp. (TSX-V: CUV) (“the Company”) is pleased to announce that it has received written communication from legal counsel Hogan Lovells on 13th June 2019, concerning the pending Central Bank issued PSD2 License petition. Hogan Lovells has informed the Company the license petition is progressing favorably and, that it has a confirmed call next week with the Licensing approval division of the Central Bank. RevoluVIP adds Florida, California and Guatemala websites to the worldwide Travel Club platform. RevoluPAY worldwide “Payment Request” now activated. RevoluVIP web traffic increases impose major server upgrade. RevolUTILITY progresses positively. RevoluPAY Visa Card set for final launch. Negotiations mature between CUV advisor Emilio Morales and, Nasdaq Listed Mobile, Cable, Pay TV Company.
PSD2 Bank License Update
As informed to shareholders on May 29th, 2019, the Company successfully completed submission of all supplementary documentation requisitioned by the Central Bank. Subsequently, Hogan Lovells lead counsel has advised the Company that a reply from the Central Bank should be expected on, or before, July 8th 2019.
Negotiations with Nasdaq Listed Mobile, Cable, Pay TV Company
Advisor Emilio Morales is currently in negotiations with a Nasdaq listed company focused upon the Mobile, Cable Broadband and Paid TV sectors. The company currently has over 50 million subscribers and, is focused upon the South American and, African markets. The current negotiations are centering around the ability of RevoluPAY users to pay for subscription services and, a reverse scenario, in which subscribers of the company may utilize RevoluVIP under a possible white label deployment. Mr. Marshall, Company CEO, is currently studying the opportunities presented and, will update shareholders accordingly, should the ongoing negotiations prove favorable.
RevoluVIP Travel Club Adds New Websites
The Company has successfully launched 3 new destination travel websites. Consequently, Florida, California and Guatemala are now entirely active and generating booking requests. Furthermore, the Company’s inhouse tech team have advised that: Alaska-vip.com, Hawaiivip.com, USA-VIP.com, Belizevip.com should be online within 10 days. The Company now has complete destination content for 147 of the VIP Collection websites, which means that the roll-out speed will increase over the coming weeks. A prominent journalist has been engaged to provide the final destination travel related content for the 35 remaining countries.
RevoluVIP Server Upgrades
Due to a significant increase in web traffic to the VIP Travel Club websites and, the main RevoluVIP booking site, the Company has contracted two new, extremely performant, servers at its main data center. These servers will be gradually brought online from midnight Eastern Standard Time, Sunday 16th June 2019. Users may experience intermittent service on the RevoluVIP platform for around 8 hours or less. The high-capacity servers chosen will exclusively host all of the back-office and, booking platform for the upcoming 182 VIP Collection destination websites and, main RevoluVIP XML Software.
As advised in the 29th May 2019 news release, RevolUTILITY is planned to be fully active and functional by June 28th. Developers of the platform have provided a sneak peak of the upcoming vertical, which was recently posted on social media.
Pending Remittance Focused Definitive Agreements
The Company has finished the legal framework and, contracting required, to conclude the definitive agreements with: Easy Pagos, Grupo Eficacia and, RedCHAPINA. The corporate attorney at RevoluPAY S.L Barcelona has provided management with the final agreement, which is now being studied, for eventual signing, by the aforementioned MOU signees.
RevoluPAY New “Payment Request” Functionality
As per the news release dated 31st May 2019, the Company is elated to confirm that the “payment request” option has now been successfully added to the RevoluPAY merchant options. The system allows Expedia, Agoda, Booking Holding and, private B&B and Small Hotel property owners, to autonomously generate a digital invoice through the RevoluPAY Merchant App and, send this invoice directly through the RevoluPAY app to a phone contact or, via: sms, email, social media or instant messenger platforms. The accommodation customer can now click the invoice and, make the payment in seconds, with their phones RevoluPAY app. Resulting payments appear in the property owner’s app instantaneously.
RevoluPAY® e-Wallet Linked Prepaid Visa card
The Company has been advised that the software incorporation into the RevoluPAY app of the e-Wallet linked proprietary Visa Card will begin next week. The RevoluPAY® physical international visa card permits withdrawals from any ATM that accepts Visa worldwide, allied to POS payment at any location that accepts Visa. This functionality will give RevoluPAY® app users an added layer of financial autonomy, in those locations where NFC enabled POS devices and ATMs, for which RevoluPAY is already enabled, are not yet operational. The physical printed cards have been in the Company’s possession for several months, meaning that once the software incorporation is concluded, the RevoluPAY Visa Cards can be shipped to users worldwide.
RevoluCHARGE Mobile Phone Top-Ups
The Company is pleased to report that the increases in sales between April and May on the proprietary mobile phone top-up platform RevoluCHARGE reported in the 29th May 2019 news release have continued, with a new increase, covering only the first 15 days of the month of +45.92%, compared to the month of May. While RevoluCHARGE has yet to be marketed in any meaningful manner, the proprietary Worldwide Mobile Phone Top-Up service has begun to gain excellent traction through word of mouth and return users. Based upon the reality that the Company has yet to market this vertical, the results obtained for the first half of June have proven very promising thus far
The Company’s flagship technology is RevoluPAY®, the Apple and Android multinational payment app. Built entirely in-house, RevoluPAY features proprietary, sector specific, technology of which, the resulting source code is the property of the Company. RevoluPAY’s built-in features include: Leisure payments, travel payments, retail and hospitality payments, remittance payments, real estate payments, pay-as-you-go phone top-ups, Utility Bill payments, etc. RevoluPAY is powered by blockchain protocols, and, is squarely aimed at the worldwide multi-billion dollar leisure sector and, + $595 billion family remittance market. RevoluPAY® is operated by the European wholly owned subsidiary RevoluPAY S.L located in Barcelona. RevoluPAY S.L operates under European E-money - Directive 2009/110/EC through a licensed electronic money institution or EDE Banking Licensed entity.
About CUV Ventures Corp.:
CUV Ventures Corp. is a multi-asset, multidivisional publicly traded Canadian company deploying advanced technologies in the; Online Travel, Vacation Resort, Mobile Apps, Money Remittance, Mobile phone top-ups, Invoice factoring, Blockchain Systems, and Fintech app sectors.
Our flagship technology is RevoluPAY®, the Apple and Android multinational leisure payments and remittance app, powered by blockchain protocols, and aimed at the worldwide + $595 billion family remittance market. Click here to read more.
For further information on CUV Ventures Corp. (TSX-V: CUV) visit the Company’s website at www.cuvventures.com. The Company has approximately 144,873,000 shares issued and outstanding.
CUV VENTURES CORP.
For further information contact:
CUV Ventures Corp.
Telephone: (604) 685-6465
Toll Free: 800-567-8181
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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.